Topic: Daytrading advice - page 2. (Read 292 times)

Firstly date reading will not suitable for lots of kisses because the tension and work was very different from other type of investment in trading so you have to work continuously without any time and date so making your day trading possible you need to ready for everything it will be a profit or loss when will you this type of things will be carried out by the people.

• I have 20 coins that i've checked fundamentally to be sure (almost sure) that they won't be dumped to 0 due to scam accusation and delisting
• All the time. Buy opportunity may appear every moment
• every interval has its sponsor. On 5 min candles small whales are fighting for their profit pushing price in direction that they want. On 1h candles middle whales are fighting on bigger volumes. On 1d candles huge whales are pushing price pumping milions to set it how they want. Enormous whales are fighting on 1w candles, because only on that huge interval they can find volume that is right for them. Funny thing starts to happened when 5 min candle whale is trying to set price how he want it hitting in 1w whale wall.
  That's why you can't trade looking only on 5 min candles because you can be hit by 1w whale. Always check what's going on on big intervals and then go to smaller and smaller. There is no rule. It depends on how much would you like to earn and how much would you like to risk. After checking big intervals i like to daytrade on 5-30 min candles.
• I would split that into 5 x 0.3 but having everything loaded into trades should not be your priority. If you see 1 buy opportunity today put 0.3 btc and search for another. If there isn't any don't try to invest it no matter what
• I'm whale hunter. I always try to search for untechnical movements. For example - support was broken, price should crash but big volume appeared and price come back above support. What would do that if not a whale? That's where I join and earn with that big guy.
• Signals will kill your progress in trading

Yes you already have the answers here.

There is not much of a movement by now.
Even my portfolio is not moving or worse they are going down. How can we make profits with that?
Resting will be a better idea.
Taste that last profits and maybe refresh in a good place then come back working your ass afterwards.

Maybe after that we could see a good movement again. Let us take out Tether then maybe we can see a good swing.  
I just became a hardcore hodler.  

I suggest not to be too sure about the trading signal. if you want to try it, I suggest looking at some testimonials so that the signal can be proven.
or you try to subscribe to trading signals that are not free.

Most probably you may not get right piece of advice as most people here are just long term holders still I do see there are many serious discussions on day trading here always. Personally I tried day trading twice but I got stuck then I waited for weeks to recover my losses then I just exit covering fees and some small profits. Now a days, I am too a proud long term holder of cryptos and this way I never get stuck still I am confident about comparatively more profits than day trading. Day trading must need your full time and you might need lots of analysis. If you still finds it is worth for your efforts and time, you may continue with day trading.

Here I am just quoting one good post on day trading which may answer some of your questions and doubts:

after getting really rekt in 2018 (I got into crypto in December 2017) and being a community member for almost a year I finally accepted my losses, decided I had not much more to lose and started trading. At first I started swingtrading the shitcoin I was bagholding and increased my position almost 50% in one month. Eventually I got left out in a pump and refused to buy back higher. Luckily I didn’t because 2 weeks later it got delisted everywhere and price dumped really hard. So I moved on to Binance and started following some traders on Tradingview. I also got 3commas. I selected 5 coins intending to swing them over a couple of weeks, but eventually couldn’t resist closing my trades whenever they had $20 profit. The first 5 days I did this (March 11-16) I averaged at least $100 a day in profits and so my interest shifted from swingtrading to daytrading. The reasoning behind this is I’m only trading with $6000 and daily profits give me a sense of security, it’s better for my mental health.  I have a lot of free time and I’m prepared to do whatever grunt work is necessary to succeed in this. Also, I believe I will grow my portfolio much quicker by adding small quantities every day instead of trying to get multiple 20% trades within a month. Funny thing is, since I’m trying to daytrade I’m unable to get daily profits like I did when I was trying to swingtrade!

I’m a bit frustrated because I don’t really know what changed. Maybe it’s because it’s unsure what BTC is going to do and alts aren’t as jumpy as they were last week, or maybe I just bought my current bags too high, resulting in those funds getting stuck until they at least break even.

I have some questions that could help me understand more about daytrading in general, I hope I can some feedback on them:

- How many coins do you have on your watchlist?
- Do you check all those charts on your watchlist every morning (or even multiple times a day)?
- At what timeframes do you check them if you intend to daytrade (15m - 1h?) or swingtrade (4h - 1d?)?
- If you had only 1.5 BTC would you get 15 0.1 BTC bags or 5 0.3 BTC bags (with multiple entries)?
- What works for you to pick your daily coins? Some do full TA, others just look at Bollinger Bands and Stoch RSI, I watched a lot of youtube videos and they all make it look really easy but I haven’t found what works for me yet.
- Do you use signals? The signals on 3commas for example have a 80% success ratio and can be used to automate bots. I wonder if it’s really that easy? It seems too good to be true, but then again the results…


As you can see I need some advice and I would really appreciate it if I could get some tips from experienced traders! Everyone likes a motivated student don’t they