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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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

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.

awik p

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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

Quote from: maydna on September 13, 2019, 03:48:30 AM

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.

jerry0

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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?

BUK2016

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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.

Bitcoin Smith

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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?

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.

muhhentuhhen

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Quote from: Genamant on September 11, 2019, 05:34:10 AM

i do day trading but i admit i suck at it Cheesy

, 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.

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.

Hypnosis00

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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.

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.

bitcoinst

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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.

Mahanton

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Quote from: maydna on September 13, 2019, 03:48:30 AM

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.

maydna

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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.

hahay

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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.

Ararbermas

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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

befriendmywater

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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.

Viscore

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Live with peace and enjoy life!

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.

Oilacris

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Quote from: ?? on ??

Quote from: iMark on September 12, 2019, 07:02:00 AM

Quote from: Kocret02 on September 11, 2019, 04:10:35 AM

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.

Even if you are not trading you will have to face risk and this risk is there in every business not only in day trading. We only have to find best and good time to reach the trading I am sure in very near Google and YouTube will be able to update you about perfect day trading skills right now good time to increase your knowledge which can reduce your risk.

Are you sure? Google and youtube isn't sufficient nor enough to give out the best perfect day trading skills but somehow this can give out some examples on how to day trade but the key would always be on the trader itself.

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.

audaciousbeing

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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.

pawanjain

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Nothing lasts forever

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

~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.
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.

Phonexy

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Best solution for smart cities

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.

nydiacaskey01

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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.

ene1980

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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.

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.

iMark

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Quote from: Kocret02 on September 11, 2019, 04:10:35 AM

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.

suzanne5223

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Quote from: maxreish on September 10, 2019, 07:14:26 PM

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.

Like one crypto enthusiasts said "every time is good for crypto investment" but the part of waiting patiently for the market to yield huge profit was the major problem most crypto traders had and my advise to day traders who's is having problem in handling the market condition is to quit day trading for some time and later get back when feels better cause "All work and no play makes Jack a dull boy".

Ucy

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Compare rates on different exchanges & swap.

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

shield132

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Metawin.com - Truly the best casino ever

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.

velive08

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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.

ethereumhunter

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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.

Vaculin

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Winding down.

Quote from: peter0425 on September 11, 2019, 08:08:33 AM

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.

nur rochid

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Quote from: Vaculin on September 11, 2019, 09:25:15 AM

Quote from: peter0425 on September 11, 2019, 08:08:33 AM

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.

but must choose the best coins to hold in the long run and wait for the market to return to excitement, like bitcoin. but if we want a coin with a stable price, I suggest to USDT, where the coin price is the most stable, so we can wait for trading time quietly

Bob Smith

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Quote from: freedomgo on September 06, 2019, 05:07:56 AM

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.

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.

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

Quote from: jamesndungu1 on September 11, 2019, 12:27:51 PM

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.

jamesndungu1

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Activity: 434

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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.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

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.

Dart18

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Activity: 1400

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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.

peter0425

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Activity: 2618

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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

Kocret02

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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.

Genamant

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Trphy.io

i do day trading but i admit i suck at it Cheesy

, 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.

CryptopreneurBrainboss

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eXch.cx - Automatic crypto Swap Exchange.

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

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.

Ridwan Fauzi

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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.

btc_angela

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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.

TopT3ns

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Quote from: Cherylstar86 on September 10, 2019, 06:58:03 PM

Quote from: Reatim on September 10, 2019, 05:20:56 PM

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.

For an addition, daytrading usually look profitable. "Ahh that man can get a lot of profit daily, why i can't?" Usually that is on people's mind. That is why a lot of people really tempted and do daytrading without any knowledge about it. I think bad or good time, it is all depends on that people whether they really ready or not to do daytrading. Not only mental, but skill and good analysis.

maydna

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: maxreish on September 10, 2019, 07:14:26 PM

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.

Cherylstar86

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Quote from: Reatim on September 10, 2019, 05:20:56 PM

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.

maxreish

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Activity: 1330

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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.

Reatim

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Eloncoin.org - Mars, here we come!

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

South Park

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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?

It seems to me that you are going through a very common issue, paper trading can be a good way to learn some of the aspects about how to trade but the experience of actually trading for real money is completely different since now you have to face psychological pressure that was not there and you have no experience dealing with it, now it is also possible that you did not backtest your system for long enough to see how it will behave under different market conditions, if that is the case I suggest to you that you stop trading and check if your system is truly as profitable as you thought it was.

pieppiep

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The market will have a bad time and good time to trade, and you will find that if you trade on that day. But you need to more practice so you can improve your skills to better. You can make daily trade if you think you can do that, but on the other side, you can know when to enter the market and leave the market. That will make your feeling will better to know the right time to trade.

Daily trade will give a chance for a trader to make a profit, but that trader should have skills to know the trend. He will feel difficult to make daily trade, especially if the market is not stable like today.

But with increasing of his skills, he will have a way to prevent the losses that might happen in the fluctuate of the market. He can be able to take the profit in hard situations because he can understand the lesson how to get the way in a hard time.

kakonhat

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Crypto in my Blood

Daily trading is so risky more than long trade and holding. For daily trading, there is a need for perfect skill in trading. And nowadays it's harder for daily trading because of the market situation. I think you should wait for daily trading until the market green signal.

RealMalatesta

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Quote from: kakonhat on September 09, 2019, 08:09:50 AM

Daily trading is so risky more than long trade and holding. For daily trading, there is a need for perfect skill in trading. And nowadays it's harder for daily trading because of the market situation. I think you should wait for daily trading until the market green signal.

Are you talking about day trading in altcoins or day trading in bitcoin, because day trading in bitcoin till present has been a good thing and when you have the right strategy, the time and commitment, then you should not find any day difficult because we are already in the green trend of bitcoin, and anyone that cannot really trade right now, may never trade at all because this is the time that many is out to test on their trading skill, and if you want to know any trader that would really make it more during the bull run of bitcoin and altcoins, it is from now that you will get to know about it.

We have many people that still trade this time, and I am sure that they are still making money as much as I do also, so this time is not bad to trade at all.

rewse

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Quote from: kakonhat on September 09, 2019, 08:09:50 AM

Daily trading is so risky more than long trade and holding. For daily trading, there is a need for perfect skill in trading. And nowadays it's harder for daily trading because of the market situation. I think you should wait for daily trading until the market green signal.

Intraday trading does not depend on market situatiod. Daytrading allows you to trade with any price movements.

rewse

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Quote from: trickyriky on September 08, 2019, 08:57:01 AM

Quote from: DoublerHunter on September 06, 2019, 04:28:51 AM

A day trading is very risky if you don't have enough knowledge on this, please dig research furthermore to enhance your skills on trading and besides this is so stressful when you are always monitoring the market(I really hate). Yeah right, technical analysis(TA) is the best skills on trading you should master this strategy first. Nevertheless, this also includes good timing when you buy and sell on your altcoin. Just split yur fund for holding long term a good idea in having profit.

Day trading is OK at any time for many reasons, but you need to follow here some rules:
- Trade no more than 2 hours a day.
- Trading only at specific times
- Limit the number of trades per day.
- Do not set unattainable goals.
- Finish trading in the event of a market situation that is not clear to you.
- Finish trading in case of 3 losses in a row.
- Do not exceed daily / weekly loss limit.

What the reason to limit the number of trades? Make trades when you shure, if stumbled don't trade.
About 2 hours also questionable, trade when you can and want, but limit yourself depending on other activities.

trickyriky

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Quote from: DoublerHunter on September 06, 2019, 04:28:51 AM

A day trading is very risky if you don't have enough knowledge on this, please dig research furthermore to enhance your skills on trading and besides this is so stressful when you are always monitoring the market(I really hate). Yeah right, technical analysis(TA) is the best skills on trading you should master this strategy first. Nevertheless, this also includes good timing when you buy and sell on your altcoin. Just split yur fund for holding long term a good idea in having profit.

Day trading is OK at any time for many reasons, but you need to follow here some rules:
- Trade no more than 2 hours a day.
- Trading only at specific times
- Limit the number of trades per day.
- Do not set unattainable goals.
- Finish trading in the event of a market situation that is not clear to you.
- Finish trading in case of 3 losses in a row.
- Do not exceed daily / weekly loss limit.

guoyu78

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For you to have said it starts to go well, it means that you started making profit which you fail to realized to take and you dint take it because you fell that particular one is small and you wait longer to take a bigger one, in trading, you don’t take chances, execute your orders always as it come. You should know that we are in a volatility market and market can move towards any direction at any time, since you are a day trader, take profit every time you see it rather than waiting for a bigger one like long term investors or traders does.

There is no time that is ever bad or too late for any trader to trade, it is just left for you to have the right skill and the right strategy, once you are that, then the time of trade would not be an issue.

lutepatrick

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Thanks everyone for the advice and encouragement. Tbf I was expecting the usual just don't do it you won't be able to. But I know I can make it work. I see it as a way out of this crappy job i'm in atm. (college dropout) so i didn't have too many options.

I know a year part time isn't long to be studying at anything but i got a bit carried away and thought I was ready and was going to start pulling some profit from the get go.
If you look at it this way college takes four years of studying to finally being able to make a career out of the field you studied in. So if I can make a career of it in less than that i'm still up. I'm going to go back to studying and learning and make less trades for now. Maybe even keep to btc/usd like someone suggested for the time being.

This has definitely given me a lot more encouragement. Thanks again Grin

michellee

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At least, you have skills to predict where the coin wants to go, that is good. You have the right direction, and you need to keep doing that while I am sure you can make a profit. My tips will be, don't try to get bigger profit if you don't see a chance to make it because it will be hard to you and you might lose the chance to take the profit.

Be careful, the market can change in anytime, and you might prepare for the bad thing that might comes. You don't need to worry if you cannot make a profit in the day because you will have time to make another profit on another day.a

Janation

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It is not that it is bad to start here, it is just hard to do that here.

We are dealing with so volatile cryptocurrencies, it changes so quickly that is the reason it is hard to keep up especially if you have a lot of coins to look out for. I guess make some limits when will you stop and when will you start again but don't stop looking at those movements, those indicators thar might give you a profit.

Mpamaegbu

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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?

What you struggle to explain here is called Technical Analysis (TA for short). And yes, no time is a bad time to get into a trade. However, you must take note of prevailing market circumstances and dynamics before getting into a trade. This is where another issue called the Fundamental Analysis or News comes in. You must not just read the charts alone, news is very vital when it comes to trading. And in crypto industry, news is Highly Important! If you're going to buy a coin for instance because your charts or TA points to that direction but the news is telling you that the same coin has been revealed to be a scam that morning or that the police are clamping down on the developers, what do you think will happen to that coin?

Of course, it will plummet and down the price will go.

cryptobaro

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A slight move of BTC down or up makes alt go down, it is really a terrible situation that BTC needs to go sideways in order to give alts a rise. BTC gained a huge dominance and goes back and forth during the day, I don't think its a good time to day-trade.

Reid

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Try to go with the trend. Look for a group that maybe analyzes what is happening. I am not saying you believe them, just some clue but still doubt them. Question their call and make your own analysis.

It aint the bad time, it is as actually the better days to do it since you will be better when you already experienced the difficult part rather than some who are being too careful.

SlimShadyMmp

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That is one thing with trading prediction is really a tough thing to do even when your thoughts are right You have to be willing to put in the effort of putting real money and losing few Take some punches and regret and maybe retry to see how things pans out Is just doing that make you perfect And remember crypto market are not that straight predictable Volatility is a big issue

Upgrade00

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Losses is not very uncommon in day trading, especially when you are only recently trading with actual investments. Experienced traders lose out, would there does not have to be an explanation for your loss or an allusion to now being a bad time to day trade.

You just need more practice, I would suggest you continue with the same amount in capital or reduce it if you must change anything. Concentrate on perfecting your skill and identifying where you think you went wrong.

Questat

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Quote from: bravehearth0319 on September 06, 2019, 12:28:37 PM

My bad time on trading was that every time I will sell my coins the price got dumped at once, were by that time I don't know
how to see the right application of right timing in selling and buying coins in the market. So, most of often was I failed into
trading, which was lesson learned to me.

I feel not be a coincidence, it possibly you are just in the wrong timing and you just sell it when the price is going down. If that so happen, I'd like to suggest that not sell it, you better hold sometimes and never been affected of what you've heard around. Cause if you are trading with potential coins, no worrying that it will bounce back but you are trading those tokens coming from ICO, I have doubt that it will rise back.

bravehearth0319

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My bad time on trading was that every time I will sell my coins the price got dumped at once, were by that time I don't know
how to see the right application of right timing in selling and buying coins in the market. So, most of often was I failed into
trading, which was lesson learned to me.

BitcoinHunt3r

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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?

For now, if me i will take rest or maybe use long term strategy. If you off for about a year maybe for now tokens is dominating. But new tokens not listed in big exchange. What i want to say is maybe trade old coins not really have high volume like in past. But trade tokens will full of speculation. If me for now i only take top coinmarketcap coins include bitcoin to save and do bounty campaign like signature campaign.

Lanatsa

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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?

Theres no specific time for you to start day trading yet those movements are just typical days on this very volatile market which means either you trade up too well but doesnt mean that you would be profitable in the end of the day.Basing up with your situation its just clear that this had been a very common event for most traders on the market where they are somewhat sure with their analysis but still end up on losing because the market moves on the opposite side.Keep practicing up and dont bother or get discouraged easily with losing trades yet mistakes are really inevitable.The thing here is that on how you do handle it up and trying your best on your next trades to come.Dont mind too much if you entered too early or too late because theres no specific time for that as i mentioned earlier.

palle11

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It is always a bad time for an inexperienced day trader because they will keep ending up in anguish and blowing their accounts. The best thing for a day trader is to put themselves on training because you don't just jump into all trades. I was there before, so I'm talking with experience.

semobo

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If there is a huge bump in very short term then this is risky time to enter for day trading because after the huge bump there will be a correction then only the prices will starts to grow but no one can give an explanation that what is that huge bump and when it will happen.We just have to decide based on the market situation.

bitbunnny

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Daily trading is not for traders with lack of experience, that usually ends up bad. It's one of the most demanding forms of trading and demands a full dedication. Better to be well prepared and learned enough than to be sorry at the end.

MonsterV

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I think you just need some more practice, maybe you have been able to determine resistance and support lines, but you may not be able to explain why you provide resistance and support lines. Basically it might be because of looking at chart in past but actually there are many factors why resistance or support is formed, and sometimes break. Well, I think you should learn about it, about technicalities and especially fundamentals.

Quote from: jhonjhon on September 06, 2019, 04:04:39 AM

What you're doing for that long? Cause I supposed to think that you learn a lot, besides, 1year is enough to tell how crypto it is and how it affects our life being a trader.

No, a year is still not enough in my opinion. Although trading daily, each trade will take up to 2 weeks. And experience that plays an active role here, in a year I think experience is still very limited because those who are trading for 5 years still sometimes fail and some don't understand. Learning cycle is analysis-Op-Tp/SL-analysis not analysis-Op-Tp/SL, basically always learning to analyze from previous trades.

rewse

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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, you trade patterns instead situation. Candles and patterns it just indicators and may not work out.
And examine risk management.

Thirdspace

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

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?

you waited too long to realize your profit, at least you should set stop loss
you are better off aiming for small profits often, rather than trying to make big profits but ending up with a loss

Quote from: Herry Toms on September 06, 2019, 05:53:02 AM

... when it comes to crypto markets I think Day trading is not good for it. Because crypto is newly established industry where volumes and liquidity is not enough to trade on daily basis.

I have to disagree with your opinion, you must've picked a wrong/dead coin
you should trade a well known coin that has a good volume and liquidity

Herry Toms

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Well, I'm not sure if someone can make money with day trading. Day trading is not a good thing not many professionals prefer this, and when it comes to crypto markets I think Day trading is not good for it. Because crypto is newly established industry where volumes and liquidity is not enough to trade on daily basis. I would say swing trading is the best way to trade in the crypto markets.

lutepatrick

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Day trade BTCUSD, not altcoins, especially as a beginner. TA works much better on Bitcoin and liquidity is much thicker to enter/exit positions. Altcoins are much less predictable. I only trade them when they're in a global bull market against BTC (fairly rare). And in those cases I just buy and hold and then partially exit on 2x and 10x gains.

I would hate day trading alts.

[/quote]

Thanks this is great advice i'm definitely going to give it a go. Do you trade this everyday? What sort of percentage gain would you average weekly?

freedomgo

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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.

DoublerHunter

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A day trading is very risky if you don't have enough knowledge on this, please dig research furthermore to enhance your skills on trading and besides this is so stressful when you are always monitoring the market(I really hate). Yeah right, technical analysis(TA) is the best skills on trading you should master this strategy first. Nevertheless, this also includes good timing when you buy and sell on your altcoin. Just split yur fund for holding long term a good idea in having profit.

jhonjhon

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@OP, you've started it already for a year but you still have doubts and question in your mind. What you're doing for that long? Cause I supposed to think that you learn a lot, besides, 1year is enough to tell how crypto it is and how it affects our life being a trader.
You have a lot of experience( I was supposed to think that), only it needs for you to realize the good things about crypto is to engage more.

exstasie

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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 trade BTCUSD, not altcoins, especially as a beginner. TA works much better on Bitcoin and liquidity is much thicker to enter/exit positions. Altcoins are much less predictable. I only trade them when they're in a global bull market against BTC (fairly rare). And in those cases I just buy and hold and then partially exit on 2x and 10x gains.

I would hate day trading alts.

ajaymukund

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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.

BabyBoss

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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?

My bad times in day trading is when my first time I enjoy a lot because l get a profit in every trade but when I almost lost my token And l have to bet my remaining token to lose it or to gain. Ive realized that its not easy to trade but you have to learn also how to trade so that you will gain not a loser.

lutepatrick

newbie

Activity: 4

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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?

Topic: Bad time to get into daytrading? (Read 3946 times)