Topic: Cryptocurrency Day Trading: How to Get Started & How to Win - page 2. (Read 583 times)
To my understanding, day trading requires great skill and determination with a number of discipline. You must firstly outline your daily profit %, from 1-5%, then you can evaluate the number of trades to attain your daily % profit, is it gonna be 1% profit ler trade or 0.5% profit per trade or 5% profit at once?. This are issues you have to attend to before venturing into day trading
There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.
There are enough practice materials and demo accounts to sharpen your skills beyond theories. Still, I agree that most people do imagine themselves as a pro traders just by coming across few articles and youtube videos and then burning their fingers in day trading. You can get into crypto investments with some basic knowledge and can make 10x profits but in day-trading that is absolutely impossible.However, theory is not always enough.
Day trading requires strong analytical capability to catch the end points of trends; in day-trading catching short term trend is the main focus and due to that reason day-traders even miss the long term trend its possible huge profits as well. There are lots of simple and effective methods are available in crypto space to make good profits rather than struggling in the name of day-trading.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.
In my experience, trading is not working that way. You may learn a big lesson out of your one losing trade but you may forget that when you experience another losing trade in very next day itself. I mean there are uncountable possibilities to lose a trade in markets and you cannot remember all lessons and cannot make use of them in your new trades. You need to be technically sound to escape from such losing trades. 
There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.
This is true not just for trading alone but for any learnable skill. Theory is never enough. At the end of the day, you'll still need practice experiences because that's where you'll get hit my unexpected issues. Trading goes beyond what's in the trading textbooks. Just know candlesticks, indicators, chart patterns and you're an all-star trader? No. Market cycles are not always the same, it changes on regular basis. You learn more on the job than you do in a textbook.
There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.
Day trading is not easy at all. If you are planning to introduce technical analysis from FX markets, than you need to be very careful as crypto market does not follow the same rules as Forex. It is better to test your skills first on demo account.
I haven't heard about coygo tool for trading but at least I have to thank to you for this I'll watch more later. Most of my coin I often to trade is bitcoin and some altcoin which have a good fundamental factor like now ADA and vechain. The price movement is volatile so I can make a profit to buy and sell in the short term pariode.
Also, I never leave a trend line for every my day trade. I think that is more important instead of MA, bollinger band and etc because through trend line strategy we can know the support and resistence even the strong support and resistance which I think the strong support and resistence are good place for entry. When price broke (un or down) the strong support and resistence and you are entry in that level I bet you will get profit.
Also, I never leave a trend line for every my day trade. I think that is more important instead of MA, bollinger band and etc because through trend line strategy we can know the support and resistence even the strong support and resistance which I think the strong support and resistence are good place for entry. When price broke (un or down) the strong support and resistence and you are entry in that level I bet you will get profit.
I have read this article and I consider that it is detailed and contains important information and it is very useful for everyone, especially for beginners and for this reason I translated it and participated in one of the local departments and frankly, the biggest reason for people losing within the trading field is due to their entry to this field without any experience or learning where their goal is The only thing is to earn money and get rich only
Before trading, you would like to understand about trades and learn trading techniques I also usually trade crypto and you're right there are many traders who jump for day trading as they are available to form more profit in greed then they're more at a loss. Therefore first you would like to understand about crypto you've got to find out the techniques of trading whether it's adieu trading or futures trading the higher the talents the lower the danger.
Dont worry those Greed that jump into day trading because they hear about the huge profit they might get is surely quitter by now,and some of them are blaming the market because of their own stupidity and greediness.
I have some friends that do the same and now they learn lessons and starts Holding and know what?They
have already jackpot buying last march 13 and now almost doubled their investments.
and along that they are not stopping there instead continue the Holding and waiting for the bull to come,
at least their effort is gaining now.
You wouldnt learn if you dont experience something disastrous when it comes to loss of money.Most of them quit but there are some who do withstand
and come back a little bit smarter.For hodling then you can earn but if you do want to have some sort of experience on dealing with the market with shorter trades
then you can but this is way more riskier but somewhat more fulfilling or rewarding when it comes to profit making aspects.
The strategy adopted in daily deals varied from person to person, There are those who make acceptable profits daily due to their correct evaluation of patterns, And do not forget that there are many people who are always subject to losses due to their inability to correctly identify patterns.!!
To be very honest no one can actually predict the daily patterns no matter what they claim and how expert they believe they are, it all comes down to long term analysis and yes that is possible to be predicted by looking at the developments and events like halving.
It is a good idea to read various articles, including issues related to cryptocurrency trading, which will help develop the skill of entering into profitable trades in the long and short terms.!!!
No articles have ever helped me getting knowledge about how to predict daily market and yes I have seen a few signals groups but they are nothing but idiots sending over confident signals and expecting money in return.I have a little suggestion for you if you don't mind please avoid using the excessive (!) marks in the replies, it makes even a decent reply look aggressive.
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There are so much to consider like risk management plan, stop loss, etc.
I agree with this. Risk management is very important in trading.There are so much to consider like risk management plan, stop loss, etc.
A newbie should also learn this part, like after they learned the basics of trading, like how to use the charts, some basic indicators, basic candlesticks of the chart, they must learn risk management part like placing a stop loss per trade or the risk: reward ration.
I think risk management is simply the ability to understand the negatives if a trades goes against you and what are the backups you have to dissolve the loss and take minimal effort to recover it, one way to do is stop loss and this works fine in crypto trading as you can just put stop loss for altcoins.
Coming back to day trading you don't have to worry much because you are going to buy and sell BTC in the same day and it won't be dropped by too much anyways so day trading doesn't need high level of risk management.
Before trading, you would like to understand about trades and learn trading techniques I also usually trade crypto and you're right there are many traders who jump for day trading as they are available to form more profit in greed then they're more at a loss. Therefore first you would like to understand about crypto you've got to find out the techniques of trading whether it's adieu trading or futures trading the higher the talents the lower the danger.
Dont worry those Greed that jump into day trading because they hear about the huge profit they might get is surely quitter by now,and some of them are blaming the market because of their own stupidity and greediness.
I have some friends that do the same and now they learn lessons and starts Holding and know what?They
have already jackpot buying last march 13 and now almost doubled their investments.
and along that they are not stopping there instead continue the Holding and waiting for the bull to come,
at least their effort is gaining now.
The strategy adopted in daily deals varied from person to person, There are those who make acceptable profits daily due to their correct evaluation of patterns, And do not forget that there are many people who are always subject to losses due to their inability to correctly identify patterns.!!
It is a good idea to read various articles, including issues related to cryptocurrency trading, which will help develop the skill of entering into profitable trades in the long and short terms.!!!
It is a good idea to read various articles, including issues related to cryptocurrency trading, which will help develop the skill of entering into profitable trades in the long and short terms.!!!
nice article but i was mostly a promo for your site, but still it was a good enough read to make it worth it
The article is really helpful and this is very important to read before getting started. Why many traders suffered failure? It actually not because they don't have enough knowledge and skill but because of their greediness putting into the edge trying to catch all possible profit they want. It outplays their strategy and getting into a big mistake which supposedly it should not be happening.
Anyways, this is the life of a trader, sometimes we got a win, and sometimes also we lose. Things that can't be changed but rather to accept reality. One thing we have to change is never to rush.
Anyways, this is the life of a trader, sometimes we got a win, and sometimes also we lose. Things that can't be changed but rather to accept reality. One thing we have to change is never to rush.
Day trading is highly profitable so it have more risks than short or mid term trading.Basically not much people got success while doing day trading for longer time so change your plans accordingly and don't try too hard to make profits when the market is not in the favour.Nice article though which miggt really helps for newbies who wanted to learn about cryptos and tools needed.
Well, I hate this day trading, indeed. It seems like you are very greedy of seeking profit, you did not know that this is very crucial that perhaps your money will wipe out quickly and you perhaps end up debt as well. These kinds of strategies demand using the leverage of borrowed money to make profits, what if you did not make it? Just like you have been hit with a double edge sword. Indeed, the article was content was very useful but on my part, I don't like day trading. You can trade normally to avoid too much headache.
Those risks would be the only thing that they are basically facing when day trading, nothing else is negative. So, if you learn how to do day trading and face off against the common challenges of it, there won't be anything they wouldn't know, it is all pretty easy to understand the concept.
Not saying day trading is easy, that is definitely wrong and day trading is definitely a risky and difficult thing, however the easy part is to understand and to learn WHAT part of it is difficult part and where they will have difficulties. So, I would definitely say that day traders know what they are getting into, just a month of studying would give you anything you want to know about it and after that it is just experience and experience is quite important in day trading.
When it comes on getting the basics then it doesnt really goes up for a month but you would able to learn it on much lesser period of time.The thing here is that executing yourself Not saying day trading is easy, that is definitely wrong and day trading is definitely a risky and difficult thing, however the easy part is to understand and to learn WHAT part of it is difficult part and where they will have difficulties. So, I would definitely say that day traders know what they are getting into, just a month of studying would give you anything you want to know about it and after that it is just experience and experience is quite important in day trading.
in the market neither you would get in or get out is the hardest part since this is accompanied with emotions which would make the decision even more harder.
Experience is indeed the learning steps to improve out yourself towards it because if you do just focus up on theories without having the actual trade of into the market
then it would be just pretty useless.
Those risks would be the only thing that they are basically facing when day trading, nothing else is negative. So, if you learn how to do day trading and face off against the common challenges of it, there won't be anything they wouldn't know, it is all pretty easy to understand the concept.
Not saying day trading is easy, that is definitely wrong and day trading is definitely a risky and difficult thing, however the easy part is to understand and to learn WHAT part of it is difficult part and where they will have difficulties. So, I would definitely say that day traders know what they are getting into, just a month of studying would give you anything you want to know about it and after that it is just experience and experience is quite important in day trading.
Not saying day trading is easy, that is definitely wrong and day trading is definitely a risky and difficult thing, however the easy part is to understand and to learn WHAT part of it is difficult part and where they will have difficulties. So, I would definitely say that day traders know what they are getting into, just a month of studying would give you anything you want to know about it and after that it is just experience and experience is quite important in day trading.
Day trading is highly profitable so it have more risks than short or mid term trading.Basically not much people got success while doing day trading for longer time so change your plans accordingly and don't try too hard to make profits when the market is not in the favour.Nice article though which miggt really helps for newbies who wanted to learn about cryptos and tools needed.
Keep in mind that getting to know the process is really important when you are still building
your trading skills.
There are many adjustment and many trials and errors in order to create a successful strategy.
your trading skills.
There are many adjustment and many trials and errors in order to create a successful strategy.
Yes, the process will lead you to understand what you learn to improve your trading skills. Not just by that, the process will allow you to know how to trade better, and if you can learn more about trading, I am sure that you can prevent the big risk.
The process itself will always continue if you do day trading, so no matter if you lose or make a profit in trading, you should not have to feel sad or too confident because if you are not careful, you will get another loss without making a profit.
I love the articles shared in the opening post, this is very helpful for newbies who want to make money from day trading. And can open
minds of people who fail when trying day trading, because of the fact it is not easy to make money from day trading. It takes a lot of
knowledge and strategies to succeed in becoming successful on day trading. And we can get all of that from that article in the opening post.
minds of people who fail when trying day trading, because of the fact it is not easy to make money from day trading. It takes a lot of
knowledge and strategies to succeed in becoming successful on day trading. And we can get all of that from that article in the opening post.
It is, if newcomers will find time to read and understand what inside that article then they'll
be able to get a good guide before performing.
Placing your entry comes from how you really understand the market sentiments, if you are
fully equipped by knowledge.
The anticipation rate is much higher, you can go in any directions and gained decent profits
from each buy and sell that you performed.
Keep in mind that getting to know the process is really important when you are still building
your trading skills.
There are many adjustment and many trials and errors in order to create a successful strategy.
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