Here's my tips, do not trade money that you can't afford to lose. Big or small money are still money, when it comes to trading if you have fear because you've thinking you gonna lose it, stop trading. Just add some fun and dont mind if you lose, all traders suffer from losing. Just relax and keep calm.
That is absolutely a very good tip. Never trade what you cannot afford to lose. Keeping calm is good, however it is important to learn before trading as that is the only way you can easily keep calm knowing you have an idea what you are doing and even if you are losing, you know you won't lose much and it is a way for you to learn than sweating from your intestines.
Topic: Day Trading - page 6. (Read 3899 times)
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
You can start any method with only little money you have. For beginners, first time is hard works and also moment to know how good method you have?. Learning by doing is better than follow others people opinion or website trading. Real market will give you valuable experience you need. Don't forget about stop loss and money management. Thank you.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
if you dont have trading experiece day trading is where u can loose a very big part of your profit.
Here's my tips, do not trade money that you can't afford to lose. Big or small money are still money, when it comes to trading if you have fear because you've thinking you gonna lose it, stop trading. Just add some fun and dont mind if you lose, all traders suffer from losing. Just relax and keep calm.
That is absolutely a very good tip. Never trade what you cannot afford to lose. Keeping calm is good, however it is important to learn before trading as that is the only way you can easily keep calm knowing you have an idea what you are doing and even if you are losing, you know you won't lose much and it is a way for you to learn than sweating from your intestines. I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
The safest strategy in trading is you should invest the amount which you think you can afford to lost because if you lost that certain amount during trading it will mean nothing for you because you already treat the amount is a lost but the experience will be treasured. But if that amount is luckily gaining you should slowly to put up the capital until you mastered the said trading.
It depends on your budget and learning curve, if you know a bit of arbitrage then it would be less risky
I agree with the previous posters, crypto is just too volatile and unpredictable right now, even seasoned traders get burned. You're better off picking a couple solid coins and hold.
If you know what you are doing, getting burnt in crypto trading is very little. In fact the volatility is even the main reason it can be fun. You are right with your last statement though with picking up a few solid coins most especially for those who do not have the trading spirit in them. It is not for everyone, so sometimes, it is just the passion or drive that makes some people want to learn and have a huge experience. However, the profit can be extremely motivating.
It all depends on your condition. Trading with capital a lot will benefit greatly. In the trade you have to understand and have a strategy for trading so as not to pengalami the large losses. $100-$200 I think is enough to trade and earn a hefty profit.
Save your money as well for backup. If at any time your buy crypto suffered losses. You can buy it at a cheaper price than before.
Save your money as well for backup. If at any time your buy crypto suffered losses. You can buy it at a cheaper price than before.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
Your capital is not too bad for day trading, actually it's a great start because as a beginner you don't need a huge capital because you'll never be sure of what will gonna happen. But first, know your coins to buy since you want to day trade, research and analyze which is better and try to consult if you have a friend that's more and well experienced. Expect that you may loss some but rather be more motivated of all of these.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
What you could do is use a small amount like 100-200 to prove to yourself that you can actually trade. Trade with that amount and see how much you can make or how you do in the markets. If you're doing well and feel confident in your ability to trade positive, then you should put more money into your investing.
If you don't do too well, then try to just map out the charts more often. Follow the news and try again with another small amount. After all, if you lose 100-200 it's not a life-changing amount.
Based on my experiences with daytrading crypto I can tell you it almost never ends well. Most profit in crypto comes from long term holding. Look at any coin/token graph since its start and you will notice the gains almost always come in exponential form. With that said, daytrading actually makes little sense when you can instead by small amounts and simply hold them to make large multiple on your investment without and work, stress or hassle.
Day trading only works if Op aim to trade altcoins instead of bitcoin due to altcoin prices seems fluctuate significantly, even price changes as much as 1000 satoshi will be profitable if you buy it in huge amount, strength in numbers. On the other hand, bitcoin price only fluctuate within $50-$100 per day, which mean you can't get profits more than $10 with $100-$200 initial capital.
Based on my experiences with daytrading crypto I can tell you it almost never ends well. Most profit in crypto comes from long term holding. Look at any coin/token graph since its start and you will notice the gains almost always come in exponential form. With that said, daytrading actually makes little sense when you can instead by small amounts and simply hold them to make large multiple on your investment without and work, stress or hassle.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
You could start with that, but what are your goals? That is the most important thing, if you think you can begin with that amount and then trade millions then that is going to be impossible, but if you want to start with that and trade with a few thousands then that is possible. Sorry if i'm posting in the wrong section, pretty new to forums here.
I lack skillfulness of day trading techniques, because i think deviation too small, and as it like a job that takes my time. Long term really a trading strategy that makes me feel comfortable, because this is an investment. So, i don't need to hurry for make open or close order.
Day-trading is surely a huge job on its own as its needs your whole time and dedication. Although with small money, you can quickly build it up with day trading, but it can be risky too as well. Therefore anyone considering this, should know they are up for a real full time job. However, if you have huge cash, long term trading can really be a very good one to earn more as you can just auto buy and auto sell without having to monitor the charts too much.
$200 is a great number. I've turned $200 to $9000 in 90 days so many times over I've lost count. I've done it so many times that I've started a video series to show the entire 90 days:
https://www.youtube.com/user/philakone1
But you also have to know what you're doing. Luck has very little to do with it. I would suggest learning as much as you possibly can. Keep in mind you're competing against very smart people who know much more than the average beginner / mediocre trader.
For every winner, there's a loser. If you go in thinking you'll just buy low and sell high, people who are experience will take your money and the market will humble you quickly.
I highly suggest you read my quick write up that can give you an idea of what you're getting into:
https://bitcointalksearch.org/topic/--2221007
https://www.youtube.com/user/philakone1
But you also have to know what you're doing. Luck has very little to do with it. I would suggest learning as much as you possibly can. Keep in mind you're competing against very smart people who know much more than the average beginner / mediocre trader.
For every winner, there's a loser. If you go in thinking you'll just buy low and sell high, people who are experience will take your money and the market will humble you quickly.
I highly suggest you read my quick write up that can give you an idea of what you're getting into:
https://bitcointalksearch.org/topic/--2221007
While you're at it you can also check some sites that offers test money for you to try out day trading before you invest real money in there. You can gauge how the market reacts and how fast a change cab occur in real-time markets without risking anything yet. This is the best thing you can do before you really dip your hands into trading.
Edit: I forgot to include what simulator am I talking about but I use Investopedia's trading simulator. Not great and all but it will help you gain some knowledge in actual trades.
There are so many of this for the normal forex trading for practice purpose. I have not really seen one for crypto market anyway. However, it is better as it can give an idea about trading and give someone more confidence when trying out the real one. Still, a lot of people always make mistake of trading demo with a huge amount they themselves do not have so I will advise those who want to try this to use the exact amount they intend to start with so as to face the main reality trading comes with. Edit: I forgot to include what simulator am I talking about but I use Investopedia's trading simulator. Not great and all but it will help you gain some knowledge in actual trades.
Think as market maker and think that you are trading with exchange, not with other traders. That helps me.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
Of course, it is possible to start day trading for 100$-200$, as long as you make sure that the coins you choose are really potentially profitable for trading. To make your capital not be waste, of course.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
You are in the right place bruv! Day trading with that amount is good most especially if you are new at trading. However, you should try as much as possible to not just try day trading without knowing some few things about trading so as to help you enhance your decisions as a starter, that is if you are one. Over time, you can increase what you have if you are confident enough but with dedication and right decisions, you should be making it good. Sorry if i'm posting in the wrong section, pretty new to forums here.
I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?
Sorry if i'm posting in the wrong section, pretty new to forums here.
Sorry if i'm posting in the wrong section, pretty new to forums here.
There is no loss in trading bitcoin in my opinion, as long as you can wait for weeks until bitcoin price recover.
I don't think bitcoin is a good option to do daily trading as the price just fluctuate a bit, within $100-$200 and sometimes less than that.
If you invest $100-$200 into bitcoin and the price just rise $50, you may earn a little bit and vice versa if the price decline.
Try to calculate it, and you may manage to get max $20 daily, depend on bitcoin price fluctuations.
Jump to: