Topic: Day trading! The good the bad and the ugly - page 4. (Read 9698 times)

Addiction'
if it's about profit and pleasure I think it's very good. what is the meaning of the word above?
I don't feel addicted to trade except a little scared because of a bad issue.

^ This is true, you should have set a good amount that you have been risked in trading and of course that amount that you can afford to it. Day trading is very profitable if you know how to manage with it but it is also contained with a high risk. High-risk taker can be also high profitable made and sometimes you will end up nothing on it. So, be careful when you are in trading you should know much better in the trading business.

Day trade can either be good or bad or ugly depends of what happen at that market time. Sometimes it is do profitable if you find a favourable market at that period it may go otherwise again.

There is one very important thing you have mentioned here - significant stress. I guess this is the major minus of a day trading. If a person feels stress always, with time, he starts making more and more mistakes.

The advantage is that if it works then we will be able to get profits on a regular basis or every day, and the risk is that when the price of coins you hold starts to decline, it is certain that emotions and panic will easily emerge.

Being one of the traders mate, you supposed to be a risk taker. You shouldn't scared actually, you must assume to yourself that you are already lose, don't think any negative thoughts about in earnings. Because as a trader, We also mustn't depend our profit in our luck it should depend on the actual trade happening if you are in the exchange dude.

People see the opportunity to make money but they didn't realize that they can fit or not for that kind of trading.

Day trading is risky and not suitable for the people who are conservative and will be stressed if they lost their money,but someone loves to take risk and have enough money for it then day trading will rewards them most of the time.

Day trading is very good if you know the risk involved and have the mind of handling loses. I have been trying to explain to my friends on how to take advantage of the up and down of the market daily and make good profit from the market and he has not really cope with it, last month he went ahead and started day trading and before you know he started incurring losses. Now he called day trading many name.

For starter like you doing bay trading, better to start with an amount that you can afford to lose. Day trading requires a lot of skills and experience. But, if you'll not give it a try how could you earn the experience. So, have the guts to do it but remember the amount should be small enough not you to get depress when losses come.

If you're not completely new to trading, you can either deposit a very low amount of money on an exchange and try your hand at something like swing trading and get used to the exchange you choose, or paper trade for a short time until you get comfortable with things. It's still important that you start trading with real money quickly, though, because most people do act differently when real money is being risked. Just make sure you don't put too much money in at first, because there is a very high chance you will lose a lot of that money in a few days.

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I don't call myself as an expert in trading but I can share with you my experience in day trading. In day trading, you need to spend a lot of time monitoring your investments specially time and timing is crucial in day trading. If you miss an exit point, you may not be able to sell you coin at the price that you plan to sell. So planning is important and timing in day trading.

The current risk exists in all types of trade. I think you should ask yourself what you want. So daily trading is not the only option. Instead try other opportunities. less risky and more appropriate for you. Try as much as you can, in this area, otherwise there is a 50% possiblity that everything will be the opposite.

The risks you need to know when day trading cryptocurrencies:

• Capital loss
• Addiction
• Significant stress
• False market information

Usually the day traders who just know how to do it are immediately greedy with the profits earned. Even though the risk is greater. Actually, if you really want to become a daily trader, chart analysis skills must be a top priority.

Daily trading takes a lot of time and thinks of continuing to see market movements every day, it is very risky for you personally where you are someone who is not ready to accept all risks, I do not recommend that daily trading can result in you panicking every day and of course market trends it must be seen where the market is in a not-so-good situation if you want the parts to swing every day, I would advise you to trade long-term by buying at a fairly cheap price and selling later with better market conditions because you don't need lots of time just waiting until the time comes to sell.

My trade setups (swing trading) for today

BTC/USD
Pivot Point 2nd resistance $8,230
Take profit $8,167
Biggest resistance 7 days $8,125
Pivot Point 1st resistance $8,075
Pivot Point 1st support $7,740
Buy more $7,623
Pivot Point 2nd support $7,560
Biggest support 7 days $7,454

Everyone have different styles in trading, but everyone know day trading is a difficult to predict particularly so day traders are concentrate and active in all the time. The recent market was good supporting to day trading so we will earn good profit and those are lazy in trading this will never suitable.

the knowledge and consistency are difficult to implement. especially for emotional control. daily trading is very dependable on the psychological to analyze larger movements. good or bad depends on the person, because every trader has a different trading style

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.