Topic: Bad time to get into daytrading? - page 2. (Read 3946 times)
Do most ppl daytrade coins that are paired with fiat like btc/eth/litecoin etc compared to other coins like lisk which cannot be traded with usd/usdt?
May you are trading in a pump and dump coins that usually don't move normal based on your analysis but react base on those who are behind it sudden increase and decrease in its value. And if you are trading Bitcoin and is behaving the way you just explain then it means your analysis is the one leading you astray.
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?
what I'm thinking is there is no best time will be created by anyone and it is not happened to everyone we need to use the little opportunity to make it valuable otherwise day trading is also very difficult when we understand it completely only we can get the profits. 
i do day trading but i admit i suck at it 
, dont do it specially when you hate using SL
i hate it but am still a pro trader wanna be. I hope ill be motivated and be eager as in crazy eager to learn reading charts.
, dont do it specially when you hate using SLi hate it but am still a pro trader wanna be. I hope ill be motivated and be eager as in crazy eager to learn reading charts.
You sound so emotional - too much even. It means you cannot deal with trading especially with the day trading (here you are right to stay away from this business). Nevertheless, it can bring profits and good ones. Choosing this variant, the person should deal with cheaper coins, for example, from the second and third dozen of the CoinMarketCap rating, since they have more volatility.
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.
I really appreciate this...its a big advice.Now, people should have to think wisely and to evaluate their self if they are capable to become a trader cause nobody is asking for that and nobody is pushing us to have a stress life like in trading. Yet to consider the difficulties that we might encounter in trading and to ask if we are prepared for it? Cause not all the time that we are profiting, but of course, we suffer a hard time in crypto which in most cases this is the reason why some traders quit.
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.
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.
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 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.
That is a good step after everything you do will at least get a good profit too, because you already have a basis in my opinion if you do it continuously then it is also an exercise to gain experience and become even better. So, a fluctuating market is good for day trading because of the up and down movements you can use to get quick profits. Again, it is not a bad time as long as we do it correctly and calculatively in every decision.
It always a good time mate if you day trade with coin that still make pumps despite of the fluctuation. So always make technical analysis and fundamental to assure you can get some profits on it. wherein don't easily put your money on a coin which uncertain because your just wasting money for sure. "Avoid being greedy!" educate your self more and practice your skills that's all i can suggest for now mate. Regards
You really need more practice. The market will move according to the indicators and some signals from the whales. You also need to read more information to identify the next trend of the market to get the right direction.
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. if I read all about your statement. maybe you just need to practice and improve your skills, because now trading can be done anytime and the problem of loss or profit depends on how we manage the profit. so I think maybe now just thinking about techniques, good strategies for trading.
I think so, not all of your calculations and analysis will match what will happen in the market, start to accept all the risks that exist and understand that sometimes market movements can be unpredictable. and keep learning because trading strategies cannot only be learned in a short time.We do have different ways on how to apply others knowledge into ours.It might be effective nor the same but I highly doubt that it will be entirely different
since we do have different mindsets and decisions if we do make trades.
In addition to what everyone have contributed whether day trading, weekly trading or monthly trading, there is never a good time to carry it out not in this current period of uncertainty that is overshadowing the market. The point of things going bad before things start to go south is universal and there is nothing to be done about it. The way out is knowing the right time to get out. There is a pattern already which is good for prediction but the illusion of things can only get better would make one forget its time to exit until the loss starts settling in a massive way.
~snip
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?
Well in that case, you just have to set your entry and exit points right. You say your investment start to yield you profits before going down in drain.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?
So I think your entry point is pretty much okay but your exit point should be adjusted a bit so that you sell before the plummet.
Analyse your trades and find out your targets with good exit points and you should be good to go.
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.
Not within the day but sometimes it’s after 24 to 48 hours I will sell when it reached by desired profits. However, for the past few days I’m trading USDT and BTC only and I am happy to see that I can earn easy profits, most of the time it’s just within a day, but there are also bad days when I have to hold on it a bit longer.
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.
Even with all the statistics and charts you can collect from this market, you will only profit if the market is going higher when it comes to day trading, i am not sure how you will be selecting the coins to enter on a daily basis and which platform you are trading. I will not risk my money with shit coins but if you are having a bot that could identify the trend and give you a call then there is nothing wrong is spending some money on it, other than that i will stay away from day trading. if I read all about your statement. maybe you just need to practice and improve your skills, because now trading can be done anytime and the problem of loss or profit depends on how we manage the profit. so I think maybe now just thinking about techniques, good strategies for trading.
I think so, not all of your calculations and analysis will match what will happen in the market, start to accept all the risks that exist and understand that sometimes market movements can be unpredictable. and keep learning because trading strategies cannot only be learned in a short time. hero member
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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.
The market is not bad, it's just that, it is so volatile. You've said your indicator seems working fine at first, you have to set time and goal in each trades you made.
- Set a target profit. The near possible price that your indicator tell and then exit. I know the feeling of waiting for the high profits and ended up being a loser. But setting 2-5% profit in every trades is enough for me.
And remember, indicators tend to works fine but not everytime since this market offers unpredictable situations.
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