Simply, you can be a day trader when you're doing trading daily. Day trader is mean you can make profit only with the short time like one day. It's different when you plan for long term investment, as a day trader you should make standard for daily profit and don't be greedy. Make it 20-30% of your funds.
No one will teach you step by step on how to be it, but you can use your analysis and due diligence to a coin for test, how it goes move daily.
Topic: how to be a day trader? - page 3. (Read 2025 times)
You need to learn a lot before you start. I recommend babypips.com/school for rookies, it's about forex, but you also find there basic information about charts analysis.
There are a lot of ways. Day trader just means that you dont hold onto positions overnight, which means you are looking at short timeframe charts and you're making all your decisions based on technical analysis. I would recommend you first gain trading experience and find out your trading style.
yes that is right, in fact day trading is more risky as compare to long term investment, in become day trader you need to have some good qualities that a day trader must have. for example a day trader must be a decision taker, as you are going to invest your money for a short period of time therefore you need to have the quality to take a right decision on right time. if you are feeling reluctant to take a decision then you cannot make profit from day trading but will most lost your money there.
I am a self taught day trader. At first I lost almost $150 of investment. It took me 4months to learn the things I need to learn as a trader. Now on my 6th month as a day trader. So far got my 3x profit from my investment 2months ago.
Youtube your bestfriend. Find live trading tutorials there. Twitter and TradingView where I got most of my trading positions.
Youtube your bestfriend. Find live trading tutorials there. Twitter and TradingView where I got most of my trading positions.
The first rule of day trading is, you should know that Technical Analysis is completely bullshit. The only situation where TA actually works is in all zoomed out/1week charts and this is where TA loses its meaning and turns into Fundamental Analysis.
So, what you are trying to do is purely based on your luck.
It is impossible to predict the movements of the markets in daily basis. You'll never know how many people with how much money is trading against your bet. Sharp movements can always occur and they may keep happening towards the same direction which you are betting against. You'll say; "that's it, it can't go higher than this and now i am selling", but it will go even higher and you'll get fucked.
Stay with long-term.
So, what you are trying to do is purely based on your luck.
It is impossible to predict the movements of the markets in daily basis. You'll never know how many people with how much money is trading against your bet. Sharp movements can always occur and they may keep happening towards the same direction which you are betting against. You'll say; "that's it, it can't go higher than this and now i am selling", but it will go even higher and you'll get fucked.
Stay with long-term.
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
If you are typically a long trader then switching to day trading would really be a different story but the aspect and the idea is already the same which is sell high buy low but on day trading is more active since you do really need to observe and analyze coin movements on a particular day and you are not letting a floating trade. small percentage of profits would always be suggested as long we can make it constant the it still fine. Thanks
There are a lot of ways. Day trader just means that you dont hold onto positions overnight, which means you are looking at short timeframe charts and you're making all your decisions based on technical analysis. I would recommend you first gain trading experience and find out your trading style.
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
Thanks
Day trader is similar with scalping method on forex trading, use short time period with little money and take profit only 5 - 10%. Do that repeatedly and you'll know how difficult it is. But you can try with demo account, just find a method you like and try it. Coin trade is only one way profit, meaning one chance to reach one profit. Practice first and never give up with the market. Good luck.
For dailly trade first you need not think about high profit,5-10% profit is best in my openion.you need learn and research for sometime about which coin you will buy.So i suggest you dont buy which coin will very high in 24 hours.just buy which coin remain same place or (2-4% updown) for 1-2 days. After buying coin you must need to check the price when high or less always time because you want to dailly trade. when price will high 5%-10% it is the time for sell.For more information visit the thread, https://bitcointalk.org/index.php?board=8.0
i think day trading is more difficult and risky as compare to long term investment, in day trading you need to have good knowledge about the market and where you are going to invest your money for day trading. in trading you must have a decision power as most of the people missed the right time to purchase or sell bitcoin because they do not have strong decision power. legendary
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For dailly trade first you need not think about high profit,5-10% profit is best in my openion.you need learn and research for sometime about which coin you will buy.So i suggest you dont buy which coin will very high in 24 hours.just buy which coin remain same place or (2-4% updown) for 1-2 days. After buying coin you must need to check the price when high or less always time because you want to dailly trade. when price will high 5%-10% it is the time for sell.For more information visit the thread, https://bitcointalk.org/index.php?board=8.0
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
Thanks
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