Topic: Crypto day trading is more stressful than I thought! - page 4. (Read 526 times)

There is nobody who always know the right time for buying or selling, just relax.

Daily trading is not an easy thing. So, to make more reasonable decisions, you can read the forum more and follow different news sources and the price graphics. Good luck!

You can easily trade if you have some knowledge about technicals,you need to have basic technical indicators in each trades because most of the people in our community uses technical analyss,so the trades are morelikely going to based with technicals too,you can start reading at investopedia there are bunch of technical anaylsis tutorials there,watch some tuts in youtube and im sure you are going to be a good trader.

I know a guy who lost almost all the money and get into big debts due to inept trading but he has learned on mistakes and is now successfully increasing his capital.

You wont know how to trade well because first you dont have basic knowledge in trading,it isnt just buying in lows and selling highs,there are two major factors that we need to consider first,technical analysis so we can have a perfect in and outs within trades,second the fundamentals or the news both technical and fundamental anylsis should be learned so we can easily win our trades.

I agree, day trading with cryptocurrencies in the most stressful and not worth. Personally, I earned more than day traders by investing in cryptocurrencies and HOLD them for the long term. One of my friends bought Bitcoin at 400usd and day trading with USD, he rage quit the crypto world later by cashout everything because of the stress, he sold all his bitcoin at around 300 because he missed the opportunities to sell at 500usd.

Learn the basic technical analysis so you can easily know the perfect entries and exists in every trade you made,this is the most dominant factor you need to master so you can trade very well without any doubts,second the fundamentals should be good if you are doubtful with your technical analysis because fundamentals has more impact in our community.

Not even crypto any other day trading is more difficult to get returns and it should be more stressful. Better invest for long term.

trading is so stressful because the price changes every hour or even every minute. it's so hard to choose the right time to buy or sell not to be regret. keep patient and hold for long term is a better decision

Everything has its time. Be patient, wait, learn, think. You can have half the year is not the time, and then shoot so that you are stunned))

Nerves of steel and an insane amount of luck are some of the requirements to avoid stress and sleepless nights. Patience is a virtue. Very difficult to determine the right time to buy or sell. Practically no indicators except the news on social and traditional media. Cryptocurrency experts and analyst don’t exist. Just rely on gut feel. Always expect the worst.

day trading is not meant for anyone and everyone,people make a big mistake by starting with day trading as it is only suitable for people witha a lot of experience and time.
newbies just waste their time ,but my simple advice to  you would be to think and then act.
people react to each and every change which you should not .

Just leave trading day since you have no experience and I think it's not worth it if you are not experienced traders because day trading in cryptocurrency is very stressful and not worth since you can earn 5% per day and may lose all your profits the next day because some countries want to ban Bitcoin or we have news of Bitcoin FUD. And most importantly, day trading is only good during the bull market.

Of course, especially if you don't understand what you are doing. I just stick buying something that's for a longer term, like investment you know

To be honest, there is a risk that the volatility of short-term, encrypted money market prices may be hurting you.
Because no matter how many times you do high-frequency trading,They are the most profitable in the long run.

If the coin is a quality one then its good to buy that, some panic sellers are doing the job wrong and it's an opportunity for us to buy it from them,
day trading is stressful because you need to wait for a good timing and you always need to do your research before dealing with anything inside the
exchange, I think successful one are those who created pumped telegram as they will surely benefits from the free tips that they gave.

Day trading is definitely tough. One rule I pretty much always follow is Buy The Dip. If there's a coin you know is promising, and the price of that coin drops significantly in a very short amount of time, do some research to make sure nothing catastrophic is going on with the coin, and buy it.

My only advice is search for news and rumors and then watch the market, crypto trading circulate very fast and the volatility is very high once you bought the wrong coin you are going to lose money or wait for a very long time to get profit and some of the coins won't recover no matter how long you wait, so yeah its very risky and stressful but the profit of trading is very tempting

Without stress, there is no life. Day trading is very stressful because you can't buy and sell at dip and peak. I don't know how to be a good trader though but it should not be daily rather you should extend this time.

Appreciate all the tips. Basically, I got into the crypto game late December of 2017 and it’s been definitely one hell of a ride. My lack of patience is costing me $$$. I day trade and don’t hold. I’ve made a few bucks here and there but as of now I’m at a loss of $2200 out of a $10000 initial investment.

When the last crash happened, I sold everything at a $2500 loss(all ethereum)because at the speed the market was going down, I was worried I might lose most of my money if not all of it. Even Ethereums cofounder posted on Twitter yesterday that this market might crash to zero anytime. After the crash stabilized, I bought some etherum and ended up at $8500 out of the $10000 and then back down to $7800 today. There were many times where I bought ethereum or btc at a certain price only to sell later at break even or a loss. Like today, I bought btc at $10,530 and then for next few hours it stayed in the $10,400-10,500 range so that made me nervous, especially with all this talk about there is a btc correction due soon. Of course as soon as I sold at break even, it goes up $400 more within a few minutes.

The main reason is I watch the market every 2 minutes on my phone and when you start seeing it go down and up and down and up, it drives you crazy and really stresses you out. Heck I dont even sleep much now. Crypto always on my mind!. It’s not really the volatility that bothers me as much as the feeling that this market might crash to zero. I always get the feeling I must sell fast before something happens.

I mean I know how to make money. Actually, I just made $60000 in the last 2 months doing non crypto stuff but when it comes to crypto, I’m not that good!. At least as of yet :-). I just don’t like losing money!.

Agree.
For a while I daytraded on the stock exchange. By the end of the day, I was dead tired.
On crypto exchanges, I trade in the mid and long term. It is much easier and not less profitable for me.

Primary rule: for every position we need plan.