Bad time to get into daytrading? | Bitcointalksearch.org

yanto@1977

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Quote from: lutepatrick on September 06, 2019, 02:55:35 AM

I've been studying day trading crypto on and off for about a year. Everyday i'll go into 10 or 20 coins mark their supports and resistances to get really familiar with reading charts. I've studied candlesticks, trading patterns and a lot of indicators. I'll put up a few of the indicators and go through past markets to check how they reacted previously. I then try and predict which way a coin is going. I make notes of where i would get in and get out to see if it was real what sorta success I would have. I seemed to have it done alright so thought i would have a go with real money. I put a few hundred pounds in and the first few days i think I was very sporadic and kept trying to put money in everywhere i thought i saw something. It didn't go too well. This week I calmed down and said i'd only do a few trades a day where I really concentrated and really thought it out. Every time I put my money in it would start to go well, all the indicators pointed to success then all of a sudden it would plummet out of nowhere. I'm wondering is this a bad market to start learning to day trade in or do I just need more practice. Also any tips?

Day trading is not easy, short time, range, take profit and stop loss create stress. Some people develop ability only use one shoot, replace stop and go in one time. That strategy is good because keep away trader from stress and have many time to find and fix their mistakes. I think you need change your strategy ( combine with news ) with any opportunity you have. This is hard market and mostly, every strategy fail.

illnino

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bad time? I don't think so, for professional traders I think maybe now it can be used as one of the things that might be good for trading. market conditions are not good and can buy at low prices and sell at high prices

The day trading strategy works all the time, and it does not depend on the market ups and downs much. However, you need to be a very skilled trader to deal with the approach to crypto business. The commissions on exchanges mean much also - so you need to deal with at least 3-4 reliable exchanges for creating more variants of pairs for a day trading. Bots can help much, but you must control them.

Hypnosis00

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Quote from: Furious 7 on September 18, 2019, 06:55:46 PM

Quote from: ?? on ??

bad time? I don't think so, for professional traders I think maybe now it can be used as one of the things that might be good for trading. market conditions are not good and can buy at low prices and sell at high prices

It is not easy to enter the market when the situation is bad, or there is a fud so prices fall.
no one can be sure that the coin will rise and the trading volume will increase.
this is very risky.

It probably there is a high risk in crypto but much higher when the price is high. But the market price today isn't that much higher and I've never thought that it will lead to dumping hard but rather to see it moving high in the coming days.

If we are just thinking hard, risk, negativities will it only bring us doubts and uncertainty. This is why I'd never considered a lot coming from news cause sometimes it is just one-sided.

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Quote from: velive08 on September 19, 2019, 08:02:59 AM

Quote from: lutepatrick on September 06, 2019, 02:55:35 AM

I've been studying day trading crypto on and off for about a year. Everyday i'll go into 10 or 20 coins mark their supports and resistances to get really familiar with reading charts. I've studied candlesticks, trading patterns and a lot of indicators. I'll put up a few of the indicators and go through past markets to check how they reacted previously. I then try and predict which way a coin is going. I make notes of where i would get in and get out to see if it was real what sorta success I would have. I seemed to have it done alright so thought i would have a go with real money. I put a few hundred pounds in and the first few days i think I was very sporadic and kept trying to put money in everywhere i thought i saw something. It didn't go too well. This week I calmed down and said i'd only do a few trades a day where I really concentrated and really thought it out. Every time I put my money in it would start to go well, all the indicators pointed to success then all of a sudden it would plummet out of nowhere. I'm wondering is this a bad market to start learning to day trade in or do I just need more practice. Also any tips?

I think if you see your statement there is no bad market, it's just that it might be necessary to learn more deeply in trading skills, because right now I think in trading will not be able to get profits continuously, also failed. so how do we run trading skills to get profit.

indeed the most appropriate word is, there is nothing wrong with the market. we must forever study the market with all the conditions it creates. therefore we must reflect on ourselves to improve our skills to trade. every time the market will threaten our money if we don't manage it well

Capt00

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Quote from: velive08 on September 19, 2019, 08:02:59 AM

Quote from: lutepatrick on September 06, 2019, 02:55:35 AM

snipped...

I think if you see your statement there is no bad market, it's just that it might be necessary to learn more deeply in trading skills, because right now I think in trading will not be able to get profits continuously, also failed. so how do we run trading skills to get profit.

How will wanted that our trading life will be easy and profitable but that not what it seems to be, all must have to suffer such losses in order to grow and take a lesson from? Even though we have that knowledge and skill but it is not a guarantee that we will never be in losing, yet to make it at a low percentage. Day trading is a risky thing to work with and even expert can't take it easy how much more if we are still learning, it for sure we will be losing.

velive08

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Quote from: lutepatrick on September 06, 2019, 02:55:35 AM

I've been studying day trading crypto on and off for about a year. Everyday i'll go into 10 or 20 coins mark their supports and resistances to get really familiar with reading charts. I've studied candlesticks, trading patterns and a lot of indicators. I'll put up a few of the indicators and go through past markets to check how they reacted previously. I then try and predict which way a coin is going. I make notes of where i would get in and get out to see if it was real what sorta success I would have. I seemed to have it done alright so thought i would have a go with real money. I put a few hundred pounds in and the first few days i think I was very sporadic and kept trying to put money in everywhere i thought i saw something. It didn't go too well. This week I calmed down and said i'd only do a few trades a day where I really concentrated and really thought it out. Every time I put my money in it would start to go well, all the indicators pointed to success then all of a sudden it would plummet out of nowhere. I'm wondering is this a bad market to start learning to day trade in or do I just need more practice. Also any tips?

I think if you see your statement there is no bad market, it's just that it might be necessary to learn more deeply in trading skills, because right now I think in trading will not be able to get profits continuously, also failed. so how do we run trading skills to get profit.

maydna

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Quote from: Mahanton on September 13, 2019, 12:10:08 PM

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Quote from: Viscore on September 12, 2019, 06:46:56 PM

Quote from: Phonexy on September 12, 2019, 12:33:38 PM

I feel day trading is cool if you have a huge some of capital. Some days there are always positive changes in the market movement. If you trade with at least 1 btc you will be making a reasonable sum of money at the end of the day. However if you are being greedy with it you also loose a very big some too.

Although day trading is very risky, but i think if you have good knowledge about it and knows the best entry and exit in trading, then you can still make profits even if the market is very volatile. Just keep on trading and never tired of creating different experiences in trading because this will help you to develop your skills and strategies in trading to make you profitable.

The important thing in trading is knowledge, the more he can learn, the more things he can get a chance to make a profit. I believe that every people can be a good trader no matter what is the market trends. I think as long as they can analyze where the market position, he will be able to make money. Day trading can be a solution if the market is up and down every day because he can analyze the good price to get in and out. But day trading can be a bad idea if he only wants to get the profit without thinking about the chance to make a profit.

Primary mistake on most people specially to those who do just tend to start up with trading is that they do treat it as a gambling.
Trading without even knowing the most basic fundamental of it which in result they do just burn out their money and realize that they
have done it wrong.Daytrade is the most hardest part of trading basing on experience since you are dealing with active buy and sell which means
you do need to enhance up your decision making skills together with that casual technical and fundamental aspects.

I guess that if they treat trading as gambling is because they don't learn more about trading or they are only using other people analysis without doing their analysis. That will not be recommended to do because they can get lose money in anytime because they don't have a right signal or analysis from themselves.

I won't do day trading if I don't have a good reason to trade because that will only make me confuse to determine where the good price to buy or sell. I have those experience before, so I don't want to make the same mistake. Learning more about trading will be better for us because that will help us to analyze the market so we can decide to enter the market or waiting for a while.

Twinkledoe

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Quote from: rodel caling on September 18, 2019, 06:14:25 PM

Quote from: ajaymukund on September 06, 2019, 03:40:25 AM

More practice leads to more experience in any field. Books can teach you good theories but practice will help you remember the whole life.
that is why so many people spend between $ 100 and $ 200 to try trading. have emotions, there is bitter, then a new trader should be formed.

Your right mate pratice is the best way to get an skills knowledge to analyze all mistakes as pattern how to become great trader. Losing is part of the traders because we know trading is risky job.
Without loses experience your not a real traders because as I said that is part to become great trader always be positive and becareful in every decision to avoid lot of loses.

And also, sometimes the TAs are not in play in some of the coins like the pumpndump coins, shitty coins and the likes. No matter how you study them by employing technical analysis, it won't work. But good background analysis to that coin will give you more chance of winning in trading. And if your instincts says that you need to get rid of them, don't think twice, sell them off and never look back.

Furious 7

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Quote from: ?? on ??

bad time? I don't think so, for professional traders I think maybe now it can be used as one of the things that might be good for trading. market conditions are not good and can buy at low prices and sell at high prices

It is not easy to enter the market when the situation is bad, or there is a fud so prices fall.
no one can be sure that the coin will rise and the trading volume will increase.
this is very risky.

PuertoLibre

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Quote from: rodel caling on September 18, 2019, 06:14:25 PM

Quote from: ajaymukund on September 06, 2019, 03:40:25 AM

More practice leads to more experience in any field. Books can teach you good theories but practice will help you remember the whole life.
that is why so many people spend between $ 100 and $ 200 to try trading. have emotions, there is bitter, then a new trader should be formed.

Your right mate pratice is the best way to get an skills knowledge to analyze all mistakes as pattern how to become great trader. Losing is part of the traders because we know trading is risky job.
Without loses experience your not a real traders because as I said that is part to become great trader always be positive and becareful in every decision to avoid lot of loses.

You can read the book called "Trading in the zone by Mark Douglas" for understanding the power of mastering yourself and emotional control. Each accepted decision in the trading depends on the experience of the trader and the skills of reading charts. Losses are part of the daily routine of any trader and I treat my trading losses as a business cost. If you think about minimizing the risks and low-cost trading, educating yourself will help you to get better trading results with time. After understanding the hidden mystery of the crypto trading, it will be easier to make money and get the maximum available profitability.

rodel caling

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Quote from: ajaymukund on September 06, 2019, 03:40:25 AM

More practice leads to more experience in any field. Books can teach you good theories but practice will help you remember the whole life.
that is why so many people spend between $ 100 and $ 200 to try trading. have emotions, there is bitter, then a new trader should be formed.

Your right mate pratice is the best way to get an skills knowledge to analyze all mistakes as pattern how to become great trader. Losing is part of the traders because we know trading is risky job.
Without loses experience your not a real traders because as I said that is part to become great trader always be positive and becareful in every decision to avoid lot of loses.

South Park

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Quote from: Yamifoud on September 18, 2019, 01:54:37 AM

Quote from: Spaffin on September 17, 2019, 01:37:25 PM

Quote from: South Park on September 16, 2019, 04:52:21 PM

Quote from: bitcoinst on September 13, 2019, 03:29:23 PM

..Snip~

While you are giving good advice I have always thought that trading is not for everyone, at the surface it may seem that everyone can learn how to trade effectively since the only thing that you need in order to predict the markets with a certain degree of accuracy is to know about technical analysis, but once you got that knowledge the most important aspects of trading become money management and your own psychology and it is impossible to practice both of those aspects using a demo account.

It seems to me that still not every person will be able to engage in daily trading and trade in general. Trading cryptocurrency is not the same as trading cakes on the market. In order to have real success, you need to study not only the practical and theoretical process on the exchanges, but you also need to take into account the situation in the cryptocurrency market of a particular coin. It is very difficult and not for everyone. I have a lot of success in the cryptocurrency business, but nonetheless trading is very difficult for me.

Trading isn't for everyone for sure, not even me or you. Some of us think it easy but if we are actually doing it, we can say how difficult it is.
Actually, I've been trying this before during the bullish season and it seems to good and profitable but when the market turns down, there it started to be in real trading life and everything went wrong. I don't have enough knowledge in trading, it is really hard and sadly I end up losing.

Trading can be very deceiving, when the market is bullish everyone seems like a genius since it seems that profits come very easily but when the market is bearish or it is ranging that is when you see who is a good trader especially when it comes to money management, one thing that I have always thought is that since 90% of traders eventually lose it all in less than a year that if you are able to trade in the market and breakeven during that year then you have what it's needed to be a good trader.

Distinctin

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Every day is a perfect day for traders...dumps, and pumps as seems to be usual for them which they are actually been facing every day. The most common fails for traders is the wrong choice of coins, not the time that they were moving into trading. If we engage more in trading and spend more time on this, we actually know how pretty good it was but it could be hard if we really don't understand it.

If we want to fully engage in trading, we must evaluate our self if we are ready for the risk and can handle the stress. We might experience losses for sure but not consider this a big failure at all. It only means that there is something we need further improvements and that is really great.

Jating

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Quote from: iv4n on September 18, 2019, 02:27:06 AM

There`s no bad time to get into day trading, there`s just a wrong choice of the coin to day trade with. If you take a look on charts you will see that some coins rise, others are dropping, depending on your choice of the coin you will make a profit or others will.

It might be the case, but newbies who are going into day trading thinking that by just looking at the graph, they could make easy money.

Quote from: iv4n on September 18, 2019, 02:27:06 AM

Sooner or later we all make bad trades, buy a wrong coin that drops in price after we buy it, that`s why you should trade with coins you believe in, if price drops just keep it and price will bounce back eventually.

That's also one case wherein individuals doing day trade don't understand. There will be times that we can performed bad trades even if we see a potential profits, that is because market is open and prone to manipulation and they can be swept by this practice. But it's better to experience this early in your journey so that you understand how manipulators do their job and that you can exit on time.

iv4n

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There`s no bad time to get into day trading, there`s just a wrong choice of the coin to day trade with. If you take a look on charts you will see that some coins rise, others are dropping, depending on your choice of the coin you will make a profit or others will.
Sooner or later we all make bad trades, buy a wrong coin that drops in price after we buy it, that`s why you should trade with coins you believe in, if price drops just keep it and price will bounce back eventually.

pieppiep

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I guess that if he wants to try day trading, he can do right now as I see in the market, many coins have risen, and that will help him to make a profit from different coins. He can choose any coins he wants but make sure he can analyze each coin he wants to buy. But he cannot expect the price to increase so high because that will need more time to see the price will rise.

But as a start, I think he can test first with small money before he can decide to use big money to buy many coins. But I suggest him to learn more about trading, especially to analyze the chart because the chart will always change from time to time. Trading will only for people who want to make a profit, but he needs to accept the risk too.

If in a few weeks ago, we are trying to make a profit from bitcoin, I think right now, and we can try to make a profit from altcoin so that you can trade altcoin pair bitcoin or altcoin pair usdt. You can hope to make a profit if you can select the right coin which can increase higher later.

Yamifoud

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Quote from: Spaffin on September 17, 2019, 01:37:25 PM

Quote from: South Park on September 16, 2019, 04:52:21 PM

Quote from: bitcoinst on September 13, 2019, 03:29:23 PM

..Snip~

While you are giving good advice I have always thought that trading is not for everyone, at the surface it may seem that everyone can learn how to trade effectively since the only thing that you need in order to predict the markets with a certain degree of accuracy is to know about technical analysis, but once you got that knowledge the most important aspects of trading become money management and your own psychology and it is impossible to practice both of those aspects using a demo account.

It seems to me that still not every person will be able to engage in daily trading and trade in general. Trading cryptocurrency is not the same as trading cakes on the market. In order to have real success, you need to study not only the practical and theoretical process on the exchanges, but you also need to take into account the situation in the cryptocurrency market of a particular coin. It is very difficult and not for everyone. I have a lot of success in the cryptocurrency business, but nonetheless trading is very difficult for me.

Trading isn't for everyone for sure, not even me or you. Some of us think it easy but if we are actually doing it, we can say how difficult it is.
Actually, I've been trying this before during the bullish season and it seems to good and profitable but when the market turns down, there it started to be in real trading life and everything went wrong. I don't have enough knowledge in trading, it is really hard and sadly I end up losing.

Spaffin

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Quote from: South Park on September 16, 2019, 04:52:21 PM

Quote from: bitcoinst on September 13, 2019, 03:29:23 PM

In my opinion, there is no bad time to start learning to trade. I am talking about training. This does not mean that you are obliged to lose your personal savings in difficult market situations, you can fully use a demo account to hone your skills in such a difficult market. Of course, your attitude will be slightly biased and you will act more risky, but if you approach this responsibly, you will be able to acquire skills at minimal cost.

While you are giving good advice I have always thought that trading is not for everyone, at the surface it may seem that everyone can learn how to trade effectively since the only thing that you need in order to predict the markets with a certain degree of accuracy is to know about technical analysis, but once you got that knowledge the most important aspects of trading become money management and your own psychology and it is impossible to practice both of those aspects using a demo account.

It seems to me that still not every person will be able to engage in daily trading and trade in general. Trading cryptocurrency is not the same as trading cakes on the market. In order to have real success, you need to study not only the practical and theoretical process on the exchanges, but you also need to take into account the situation in the cryptocurrency market of a particular coin. It is very difficult and not for everyone. I have a lot of success in the cryptocurrency business, but nonetheless trading is very difficult for me.

South Park

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Quote from: bitcoinst on September 13, 2019, 03:29:23 PM

In my opinion, there is no bad time to start learning to trade. I am talking about training. This does not mean that you are obliged to lose your personal savings in difficult market situations, you can fully use a demo account to hone your skills in such a difficult market. Of course, your attitude will be slightly biased and you will act more risky, but if you approach this responsibly, you will be able to acquire skills at minimal cost.

While you are giving good advice I have always thought that trading is not for everyone, at the surface it may seem that everyone can learn how to trade effectively since the only thing that you need in order to predict the markets with a certain degree of accuracy is to know about technical analysis, but once you got that knowledge the most important aspects of trading become money management and your own psychology and it is impossible to practice both of those aspects using a demo account.

binhvo1505

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Quote from: lutepatrick on September 06, 2019, 02:55:35 AM

I've been studying day trading crypto on and off for about a year. Everyday i'll go into 10 or 20 coins mark their supports and resistances to get really familiar with reading charts. I've studied candlesticks, trading patterns and a lot of indicators. I'll put up a few of the indicators and go through past markets to check how they reacted previously. I then try and predict which way a coin is going. I make notes of where i would get in and get out to see if it was real what sorta success I would have. I seemed to have it done alright so thought i would have a go with real money. I put a few hundred pounds in and the first few days i think I was very sporadic and kept trying to put money in everywhere i thought i saw something. It didn't go too well. This week I calmed down and said i'd only do a few trades a day where I really concentrated and really thought it out. Every time I put my money in it would start to go well, all the indicators pointed to success then all of a sudden it would plummet out of nowhere. I'm wondering is this a bad market to start learning to day trade in or do I just need more practice. Also any tips?

Any time is good for a newbie to trade and learn, but don't use too much money because you'll have to stumble a lot.
I have advice that you should practice more. The more you practice, the more you'll recognize chart patterns and keep them in mind. that's how you gain knowledge and experience, then in the future, you can meet that situation again and your experience will tell you the direction.

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