how to be a day trader? - page 2. | Bitcointalksearch.org

salu

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Quote from: naidray on June 02, 2017, 02:21:28 PM

Quote from: salu on June 01, 2017, 06:28:01 PM

hello guys i'm pretty free nowadays got nothing to do so thought to give day trading a try i'm hodling coins for long term too but now i want to learn how to do day trading with a small amount since i don't know much about chart reading & TA so kindly leave some useful articles / links & advices below like when to buy & when to sell & how much profit ( % ) is enough.

If you are having more free time, and suggesting you to become a trader but not a day trader. But probably day trading will be suitable for altcoin markets but if you are considering about trading bitcoin, I'm not seeing it is profitable for the efforts and researches you will be taking.

Bitcoin trading is most suitable for positional traders. You can buy bitcoin and hold them for some period to get big profits whereas day traders are facing mixed results even with bitcoin trading due to their day trading model.

yeah probably altcoins. actually i have already invested in few coins for long term & now since i'm on vacations i want to learn few more skills i.e: day-trading.

litaf

newbie

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Quote from: Shishir99 on June 02, 2017, 07:28:50 PM

I think day trading is more riskier than long term holding.
Why?
Because almost all the coin has pumps and dumps in a day.
So it is important to know when to buy and when to sell.
For this you have to gain enough knowledge about trading analysis and other stuffs.
and always watch for whales.

Day trading is definitely a lot more riskier than long term holding. there are a lot of emotions that can affect your performance as a day trader and these emotions often times affect you and make you make irrational decisions, like holding onto your losses. Trading can be more profitable but there is a skill requirement that needs to be met first.

Shishir99

sr. member

Activity: 644

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I think day trading is more riskier than long term holding.
Why?
Because almost all the coin has pumps and dumps in a day.
So it is important to know when to buy and when to sell.
For this you have to gain enough knowledge about trading analysis and other stuffs.
and always watch for whales.

bitbunnny

legendary

Activity: 2912

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I'm not such expert but from some my experiences and experienced of my friends I wouldn't suggest day trading if you are not experienced trader already. Day trading could be very profitable but it carries much biger risk than other trading methods and you can easily be found in situation where you can lose everything very quickly.

naidray

legendary

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Quote from: salu on June 01, 2017, 06:28:01 PM

hello guys i'm pretty free nowadays got nothing to do so thought to give day trading a try i'm hodling coins for long term too but now i want to learn how to do day trading with a small amount since i don't know much about chart reading & TA so kindly leave some useful articles / links & advices below like when to buy & when to sell & how much profit ( % ) is enough.

If you are having more free time, and suggesting you to become a trader but not a day trader. But probably day trading will be suitable for altcoin markets but if you are considering about trading bitcoin, I'm not seeing it is profitable for the efforts and researches you will be taking.

Bitcoin trading is most suitable for positional traders. You can buy bitcoin and hold them for some period to get big profits whereas day traders are facing mixed results even with bitcoin trading due to their day trading model.

Dudeperfect

hero member

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I think to become a day trader and make profits in the trading, one should learn the trading and making the profits first and then he can further plan to reduce the active positions time. I believe that the best way to learn something is to start doing it on low levels and the gradually expanding the volume. First, start trading and consider the open positions for a period up to one week and then you can build some strategies to reduce the trade period without reducing the returns.

omonuyak

sr. member

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Quote from: salu on June 02, 2017, 01:34:14 PM

thankyou everyone above me for your inputs i think its really risky but still i'm going to give it a shot.

If you see it "really risky" to day trade this is how it will be for you. As for me I view financial markets especially forex trading and crypto currencies trading as a skillful game and if you can develop your skills? you eliminate the risk aspect of it.

salu

newbie

Activity: 12

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thankyou everyone above me for your inputs i think its really risky but still i'm going to give it a shot.

salu

newbie

Activity: 12

Merit: 0

Quote from: BitcoinFutureCoin on June 02, 2017, 08:51:51 AM

Become daily trader is really simple for me because I have joined in some facebook trading groups and telegram groups where are the biggest marketers.In biggest marketers I mean people which earn 5000-10000$ per month and I chat with them on facebook really often and they are teaching me how to be more successful and I earn more and more money because their help.Daily trader is very simple for me to become,just find low price new coin and buy it,but first you must check daily stats from that coin and then buy it.

thanks & can you tell us the names of fb & telegram groups?

amacar2

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There is no any to the point guide for day trading specially in crypto. There are few things you should remember when you are trading crypto for short term. Don't try margin trading with all your BTC, leave some in account so that your account will not be liquidated. Don't put all your BTC in one altcoin and don't follow any trading suggestion you may get in troll box. Don't trust any coin that have pumped quite hard overnight, big dump will be around the corner for such coin.

There is no any ultimate strategy, don't panic when you see big dump/correction and don't sell your coins for loss.

Golftech

hero member

Activity: 2128

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same with many replied before me OP, day trading is more difficult and more risky since you needed to have a lots of knowledge to predict what will be the next coins to pumped and what will be the trace, the simple logic here is to buy low and sell high you need to have more experience to understand the flow and needs some guts and willingness to lose your money if you mistakenly choose the wrong coins.

icecube45

legendary

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Daily trading will be more difficult than holding long term, we can not every day trading because not necessarily market in a positive state. So it needs a good analysis in doing daily trading. And maybe if you want to get a good profit, it will be better with large amount. If you small amount of profit you get is very little, so better in large amount.

shinratensei_

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Quote from: salu on June 01, 2017, 06:28:01 PM

hello guys i'm pretty free nowadays got nothing to do so thought to give day trading a try i'm hodling coins for long term too but now i want to learn how to do day trading with a small amount since i don't know much about chart reading & TA so kindly leave some useful articles / links & advices below like when to buy & when to sell & how much profit ( % ) is enough.

Thanks

You must try to analize the demand of the coin. That has reflected how percentage of the volatility. To doing daily trade you must not be a greedy person.
Just try hit and run with your little amount. The successful trade depend on your analyzation. If you can grab the coin on the bottom of the red candle and you will be able to take your profit.
That's so difficult in my opinion. The daily trade has high risk.

eternalgloom

legendary

Activity: 1792

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I've found that most Youtube video's on this subject either have incomplete or just factually incorrect information.
Investopedia is pretty good, but it's not really for everyone, I've found some better resources.

Check out:
https://www.therationalinvestor.co/

BitcoinFutureCoin

member

Activity: 82

Merit: 10

Become daily trader is really simple for me because I have joined in some facebook trading groups and telegram groups where are the biggest marketers.In biggest marketers I mean people which earn 5000-10000$ per month and I chat with them on facebook really often and they are teaching me how to be more successful and I earn more and more money because their help.Daily trader is very simple for me to become,just find low price new coin and buy it,but first you must check daily stats from that coin and then buy it.

dady12

full member

Activity: 166

Merit: 100

I tried this but I failed and I don't want no one else loss his or her money I will advice you to invest in some coins with good potential in the future,cryptocurency market are very volatile and within a seconds ,the unexpected can happen and you will loss all your cash,I will advice you to focus on long term investment

subzero01

member

Activity: 66

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Be careful... in bullish markets, it's sometimes better to just hold thatn to constantly buy and sell.

Duzter

sr. member

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Being a day trader is not that simple as well will not provide jackpot to profit big with small investments. It needs more knowledge and learning as well a good capital investment. Only then it's possible to make a good living, else going to day trade is ruining your life without a job.

MintCondition

legendary

Activity: 1147

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Day trading is not an easy task. It is riskier than hodling a coin for long term because you are buying a coin on current price and sell it once it inflates a certain percenatage. It is risky because you need big amount so that you can have profit in small percentage and anytime the coin might dump hard.

Red-Apple

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Quote from: salu on June 01, 2017, 06:28:01 PM

hello guys i'm pretty free nowadays got nothing to do so thought to give day trading a try i'm hodling coins for long term too but now i want to learn how to do day trading with a small amount since i don't know much about chart reading & TA so kindly leave some useful articles / links & advices below like when to buy & when to sell & how much profit ( % ) is enough.

Thanks

Technical Analysis is not really going to help you succeed in day trading, specially if you do it with altcoins. people usually call it pseudoscience!
but i like the investopedia's articles about trading. they have pretty much everything and it is simply explained with enough details and information to make it easily understandable.

in day trading it is all about finding the most fluctuating market and buy in the dips and sell after it got out of it for profit. i am still learning trading myself so please share with us your success in the future.

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