I guess you should use your stop loss more.
Also try buying those dips or buy when the price plummets and sell when it recovers. You make money either way — when price goes up or down. Experienced traders make money from both downtrend and uptrend.
I would advice you concentrate on Bitcoin or top altcoins. Smaller altcoins are very volatile and way difficult to predict
Topic: Bad time to get into daytrading? - page 3. (Read 3946 times)
I have no idea why to trade daily, as always, quality over quantity. Daily trading will just turn you into more depression and is a lot of pressure because not only technical analysis but you also have to read news around cryptocurrencies because they have huge impact on price too, sometimes very unexpected things happen. So to my mind it will be better to trade when you see it's time for it, when you feel that price will rise/fall and you'll make profit, will be calm and do everything without being anxious and depressed.
Some may suggest hodling but personally I don't find that right, why to freeze money? It has to be in circulation, hold it for a while but for years? Maybe will be profitable again but it's very, very hard and I already stated another personal reason.
Some may suggest hodling but personally I don't find that right, why to freeze money? It has to be in circulation, hold it for a while but for years? Maybe will be profitable again but it's very, very hard and I already stated another personal reason.
trading will not always give the best results, even if your capital is hundreds of pounds will still experience a loss. I think you only need to practice good trading techniques in order to stay in trading. because now if only with money without using good technical skills, I think it will be easy to experience a loss.
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You can start learning trading at any time you want as long as you already learning the basics of trading before. You don't have to worry if you cannot get the profit because that will be a part of the lesson and you need to learn about patient too. I am sure that if you can stay calm waiting for the right to trade, you will have your chance to buy at a low price.
The indicators will always change as it moves because of the market, so if you can adjust your analysis with the current situations, then you can see a chance to make a profit. But yes, there will be a bad time for you moreover you cannot make the profit on that day. But trust me, there will be many more lucky days for you to make the profit.
The indicators will always change as it moves because of the market, so if you can adjust your analysis with the current situations, then you can see a chance to make a profit. But yes, there will be a bad time for you moreover you cannot make the profit on that day. But trust me, there will be many more lucky days for you to make the profit.
There’s no such thing as bad time in daytrading instead it’s called “Bad Decisions” because market will go ups and down daily and that’s not something to call timing
Most of he failure in daytrading is wrong decision on when and how much to sell vice versa in buying
Better that even if you are focus in daytrading also be ready in semi long term holding as our cuurecncy sometimes took a week before growing again
With the present market condition, it's hard to make profits in day trading. It takes good fundamental and technical analysis for you to survive and minimize losses in day trading. I suggest to wait for the market condition to be stable again and trade only when you see a good timing. For now, keep on holding your coins for long term because its still the safest way to make profits. Most of he failure in daytrading is wrong decision on when and how much to sell vice versa in buying
Better that even if you are focus in daytrading also be ready in semi long term holding as our cuurecncy sometimes took a week before growing again
There’s no such thing as bad time in daytrading instead it’s called “Bad Decisions” because market will go ups and down daily and that’s not something to call timing
Most of he failure in daytrading is wrong decision on when and how much to sell vice versa in buying
Better that even if you are focus in daytrading also be ready in semi long term holding as our cuurecncy sometimes took a week before growing again
With the present market condition, it's hard to make profits in day trading. It takes good fundamental and technical analysis for you to survive and minimize losses in day trading. I suggest to wait for the market condition to be stable again and trade only when you see a good timing. For now, keep on holding your coins for long term because its still the safest way to make profits.Most of he failure in daytrading is wrong decision on when and how much to sell vice versa in buying
Better that even if you are focus in daytrading also be ready in semi long term holding as our cuurecncy sometimes took a week before growing again
There is no bad or good time to get in day trading, you have to know first if you have the skills to be consistent, so you will end up profitable.
Crypto market has a lot of coins trading, not only BTC and the volatility is still high, so if you have a working strategy, you don't need to wait for the bull market to trade. If you look at the trading volume here https://coinmarketcap.com/charts/ in general, there's a good volume on a daily basis, which means people are day trading ever since.
Crypto market has a lot of coins trading, not only BTC and the volatility is still high, so if you have a working strategy, you don't need to wait for the bull market to trade. If you look at the trading volume here https://coinmarketcap.com/charts/ in general, there's a good volume on a daily basis, which means people are day trading ever since.
I agree, no single time is good or bad for everyone in day trading. Markets keep moving and one’s success depends on how one handles the situation.
No, I don’t think so. The cryptocurrency value might be unpredictable, great traders make money whether the market is bullish or bearish. If you are fully invested in trading crypto, you will cope with the ups and downs of the industry keeping in mind that adoption of this technology is spreading like a wild fire! There are greater times ahead.
You've mentioned one key point, great traders or I would say skilled and experienced traders. So, that means that daily trading is very demanding and risky and it's not for everyone, especially not beginers.
I agree that every time is good time to join the Bitcoin market but everyone should carefuly choose trading method that suits the skills and possibilities.
No, I don’t think so. The cryptocurrency value might be unpredictable, great traders make money whether the market is bullish or bearish. If you are fully invested in trading crypto, you will cope with the ups and downs of the industry keeping in mind that adoption of this technology is spreading like a wild fire! There are greater times ahead.
I think this is one of the best times to go into day trading. It is going between 10k+ (like around 11k but not exactly) and then 9k (still not exactly, kinda like 9.4k or so) and if you take advantage of that specially with some leverage on top of that then you can actually make a big profit.
Don't get me wrong it is incredibly hard to know when it will go up and when it will go down but if you do not wait for the maximums you can just buy when it hits anything under 10k and then sell when it hits above 10k and make a to not money via leveraging it like x50 lets say. It is not ideal and I would suggest becoming a great trader before you risk that much however it is certainly a great potential for all of us right now. If you only want to know the timing, this is a great time to start.
Don't get me wrong it is incredibly hard to know when it will go up and when it will go down but if you do not wait for the maximums you can just buy when it hits anything under 10k and then sell when it hits above 10k and make a to not money via leveraging it like x50 lets say. It is not ideal and I would suggest becoming a great trader before you risk that much however it is certainly a great potential for all of us right now. If you only want to know the timing, this is a great time to start.
Proof that the market is unstable.
What coin are you dealing with?
Bitcoin?
It is difficult when you are trading with small amounts. You tend to go all in and also easily be in panic or FOMO. Too many emotions will succumb you also if that is only your money.
Better make a larger capital. Save for now and do it like a pro next time. Maybe do it again with less worry.
What coin are you dealing with?
Bitcoin?
It is difficult when you are trading with small amounts. You tend to go all in and also easily be in panic or FOMO. Too many emotions will succumb you also if that is only your money.
Better make a larger capital. Save for now and do it like a pro next time. Maybe do it again with less worry.
There’s no such thing as bad time in daytrading instead it’s called “Bad Decisions” because market will go ups and down daily and that’s not something to call timing
Most of he failure in daytrading is wrong decision on when and how much to sell vice versa in buying
Better that even if you are focus in daytrading also be ready in semi long term holding as our cuurecncy sometimes took a week before growing again
Most of he failure in daytrading is wrong decision on when and how much to sell vice versa in buying
Better that even if you are focus in daytrading also be ready in semi long term holding as our cuurecncy sometimes took a week before growing again
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 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.
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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. 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?
This isn't your fault in general, you must be above average (via trading) to benefit from this current market conditions as the current market conditions doesn't favor day trading unless your focus who involve just trading bitcoin against the USD. Majority of the altcoins are declining in price on a daily base and for those gaining some fraction of value in USD they're losing value in BTC.
I'll suggest you use this time as a practice period, only trade with few funds you can afford to lose. The strategy I rely on in the difference market conditions are; during the bull market, I engage in day trading but I result to hodling my coins during the bear market. From my observation, bitcoin/USD is the only trade worth engaging in.
The first thing that you have done were really good, learn more some strategies and read the habits of the market movement. You can suppose that some of these things are a simulation which can change at any time so you have to make a real trading by yourself with use your money slowly.
Don't spend a lot of money first if I suggested, pick one coin that you really think you will get profit if you use your startegy and then make a conclusian or an evaluation at the end. I think that is a good thing to do, because the experience will teach you many things rather than you collect many of strategies but you don't have any experience. And lastly, the other most important thing when you trade is your emotional. You have to organize your greedy thing even your confident when you come in.
Don't spend a lot of money first if I suggested, pick one coin that you really think you will get profit if you use your startegy and then make a conclusian or an evaluation at the end. I think that is a good thing to do, because the experience will teach you many things rather than you collect many of strategies but you don't have any experience. And lastly, the other most important thing when you trade is your emotional. You have to organize your greedy thing even your confident when you come in.
You day trading alts? It's very difficult specially if you are a beginner because alts is more volatile. I agree with you call that most of the time you think that you're safe and then suddenly the price goes into the opposite direction. Learn to mitigate risk, have a good entry/exit strategy. Probably you need more practice and just learn from your past mistakes. If you can record your trading that will be good at least you have something to look at specially if everything goes wrong.
You must know that Daytrading is not for all of us mate.many of my friends tried daytrading but majority has failed and stopped doing it till now and me as well may accept that a failure about that field of investments that’s why we had focused on Holding,our chance rely on every crypto that we will be insight and studied for period of time and then purchasing and keep the holdings until we reached the price or value we targeted
Don't rush your holdings while market isn't making good profit for all of us now. If you risk your funds for day trading without even learning a secure ways of managing how to grow your capital, I think it's like jumping on a shallow lake.
Quote
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.
Perhaps, he doesn't need to wait too long to take the profit because if he can see the price can increase for 2-5%, he can take the profit right away so he can wait for another down of the price to buy more. I am sure that he can do that if he doesn't chase bigger profit because that will need the patience to wait for more and not all traders can do that. It is better to get the profit as soon as possible because we don't know when we can come back to make a profit again in the future. Besides that, we can save the profit first before we continue to trade on that day and we can close our trading time with having those profit.
You must know that Daytrading is not for all of us mate.many of my friends tried daytrading but majority has failed and stopped doing it till now and me as well may accept that a failure about that field of investments that’s why we had focused on Holding,our chance rely on every crypto that we will be insight and studied for period of time and then purchasing and keep the holdings until we reached the price or value we targeted
Don't rush your holdings while market isn't making good profit for all of us now. If you risk your funds for day trading without even learning a secure ways of managing how to grow your capital, I think it's like jumping on a shallow lake.
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