Beginner question: What are the risks of Day Trading?

Hello there, I am new to cryptomarket and is still learning before I invest in bitcoin. I am really interested in day trading and planning to enter it with a mindset of "hope for the best, expect for the worst" to avoid being too greedy, I will invest $1000 in bitcoin and spend half of it on trading (alt coins) while leaving the half in bitcoin. I will set an everday gain of 3% to 5% before selling it, then rinse and repeat the buy low sell high strategy. What would be the risks I would or have a chance of facing?

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