I bet you got it wrong because of the troll box (chat box).
When I was a newbie I was dragged by those idiots. (somehow I am the idiot back then)
Picking? Don't try the new ones. It will just be a mess.
Look at histories of different coins. Try to analyze if it have movements in a week.
Don't go for just days or hours of change for starters. Start with a little long term. Not that long.
Topic: How to choose correct coin for Day Trading (Read 533 times)
legendary
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Generally I don't like day trade for always. Sometime day trade can give good profit but not for all time. Only bullish market can give you some profit in day trade. So I will suggest you,
1. Try to do day trade only in bullish markets
2. Choose a exchange with large volume like Binance, Bittrex, Houbi etc.
3. Don't be greedy for higher profit. Or must you loss your capital.
4. Try to understand how price chart/candle works. And all things about chart.
5. Don't buy any coin which is already pumped.
1. Try to do day trade only in bullish markets
2. Choose a exchange with large volume like Binance, Bittrex, Houbi etc.
3. Don't be greedy for higher profit. Or must you loss your capital.
4. Try to understand how price chart/candle works. And all things about chart.
5. Don't buy any coin which is already pumped.
It is hard to predict which coins has a good dumps and pumps, usually I am also after of volume for day trading. Also on top altcoins in coinmarketcap which have a high potential on getting profit. We can never go wrong on choosing a coins if doing a research which to invest. When you are new on trading always do an analysis before investing and just invest to what you can afford to lose because of the volatility price of coins in the market.
I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
In my opinion you can choose a coin that has a high 24-hour volume on an Exchange, my experience is that we can get quick profits by day trading with coins like that. If you trade on Binance then look at the top what coins have high volume, then choose it.But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
In my opinion you can choose a coin that has a high 24-hour volume on an Exchange, my experience is that we can get quick profits by day trading with coins like that. If you trade on Binance then look at the top what coins have high volume, then choose it.
Choosing based on volume is the thing, I guess most traders are following because when a coin is having decent volume then it may not get dumped/pumped suddenly. But, volume along with more number of trades alone will give you exact right coin for day-trading because some devs will manipulate their own coin by showing big volume with the help of shit exchanges. In that case, we can easily figure out them by checking how many trades happened in last 24 hrs.But, not all the exchanges are showing how many trades happened in last 24 hours. This may be the catch to traders to mislead them toward manipulated coins. It is always better not to go for day trading and even if you go just day-trade bitcoin against fiats as it will always have plenty of volume.
I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
In my opinion you can choose a coin that has a high 24-hour volume on an Exchange, my experience is that we can get quick profits by day trading with coins like that. If you trade on Binance then look at the top what coins have high volume, then choose it. But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
I think you should know the coins that popular so that you can do trading to get a profit. Many altcoins but only some are getting popular so choose the popular one, I think you can choose the correct coins if you do search which coins are the popular most that you can trade. But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
Without complete research about the coin, it is impossible to trade the coin and even though we have found out potential about the exchange in order to trade the coin. Yes, without research it is impossible to find out potential about the coin.
Yes, it is like to search a needle in the sand because only with research that can help you to find the potential coins to buy. But in these situations, I think it is very difficult to find the correct coin for day trading as we saw that the market still not moving as good as we want. So we need to dig deeper to find those coins that will need more time to get it. If you cannot find the potential coins for day trading, I think it is better to take a break for a while because if you still trying, I am afraid that you will not get that coin, but you can get a loss because you choose the wrong coin.
Without complete research about the coin, it is impossible to trade the coin and even though we have found out potential about the exchange in order to trade the coin. Yes, without research it is impossible to find out potential about the coin.
You are simply contradicting yourself. What is the point of trading a coin without analyzing about it. It will happen when you are getting misled by exchanges or by advertisements or by your friend through pump and dump games. Do not listen to everyone for risking your capital but you should go for your own due diligence so that you can multiply your capital rather than losing them with an unknown coin.I do rarely trade new coins/token as I am sticking with my usual BTC/USD pair. When you are consistent with our performance with the usual trading instrument then you will never need to choose any new coin for your trading purposes.
You may choose new coins for long term holding but definitely not for daytrading.
I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
I think you should know the coins that popular so that you can do trading to get a profit. Many altcoins but only some are getting popular so choose the popular one, I think you can choose the correct coins if you do search which coins are the popular most that you can trade. But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
Without complete research about the coin, it is impossible to trade the coin and even though we have found out potential about the exchange in order to trade the coin. Yes, without research it is impossible to find out potential about the coin.
I think there's no way for a coin to be a correct coin for daily trading because it is depending on the trader's preferences on what coin will suit his taste for his desired daily trade. If you want a day active trade, You should find a coin that has high liquidity more of a coin that has a higher volume. You can check coinmarketcap for those coins.
I agree. It depends on your target profit as well. There are lots of potential coins out there but you have to look for coins with good potential. You can check on their history and legitimacy.
I always prefer to choose from top coins like Ethereum and ripple because they have been consistent and have passed lots of tests of time but Bitcoin would still be the best choice for me.
I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
I think you should know the coins that popular so that you can do trading to get a profit. Many altcoins but only some are getting popular so choose the popular one, I think you can choose the correct coins if you do search which coins are the popular most that you can trade. But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
for a beginner, you should choose a coin that is famous and popular. the top 10 altcoins will be a good choice for starters, and for learning. In fact, people use coins whose fluctuations are very high, and that is found in altcoins outside of the top 10. However, for the beginning try using BCH, or BSV, it has large fluctuations.
Top 10 coins from which list? From coinmarketcap's ranking? This must be famous and basic mistake, most of traders are usually doing and ending up losing their money by getting struck with corporate coins.For example, XRP is a shitcoin from a corporate (means not a decentralized coin) and if you notice by this time last year it was trading around 9000 satoshi and right now trading below 3000 satoshi. Another perfect example is TRX, which was trading last year around 700 satoshi and now just came above 200 satoshi. These are the coins which do get their places under 10 in coinmarketcap list but sucking innocent investors money slowly.
for a beginner, you should choose a coin that is famous and popular. the top 10 altcoins will be a good choice for starters, and for learning. In fact, people use coins whose fluctuations are very high, and that is found in altcoins outside of the top 10. However, for the beginning try using BCH, or BSV, it has large fluctuations.
Personally, what I recommend most is for long-term investment without a doubt with Bitcoin and to trade with trading it is good to choose ETH, or the first 5 currencies of CMC, because they have the behavior and history very similar to that of Bitcoin.
If Bitcoin has a bullish rally, those cryptocurrencies will be the first to increase a lot, if bitcoin falls in the same way those currencies do so, but they have a greater degree of survival due to their history, which, does not happen with nascent coins or new projects .
If Bitcoin has a bullish rally, those cryptocurrencies will be the first to increase a lot, if bitcoin falls in the same way those currencies do so, but they have a greater degree of survival due to their history, which, does not happen with nascent coins or new projects .
You should be able to use trading tools like Bollinger Band. There's tutorial for day trading in Youtube, if the coin didn't seem to give you any good within that trading tool I mentioned, then probably you should skip that coin. You got higher chances around top 5 in CMC. If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.
Bollinger Band indicators is commonly used to determine the right entry point in trading because it show high/mid/low in the channel trend so definitely not a good tool to choose in determining the right coin for day trading.If OP is using leverage trading then he has no problem on determining the right coin since he can adjust the leverage on trading. The goal in day trading is earn sufficient amount of money in short period so most probably the perfect coin are those volatile coin.
Try to use Average True Range(ATR) indicator to determine what is the average volatility of a certain coin. That indicator shows you range of price change of the per time frame that you want. It is perfect to hunt perfect coin for day trading. You should always look on the average price change.
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You should be able to use trading tools like Bollinger Band. There's tutorial for day trading in Youtube, if the coin didn't seem to give you any good within that trading tool I mentioned, then probably you should skip that coin. You got higher chances around top 5 in CMC. If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.
Bollinger Band indicators is commonly used to determine the right entry point in trading because it show high/mid/low in the channel trend so definitely not a good tool to choose in determining the right coin for day trading.If OP is using leverage trading then he has no problem on determining the right coin since he can adjust the leverage on trading. The goal in day trading is earn sufficient amount of money in short period so most probably the perfect coin are those volatile coin.
Try to use Average True Range(ATR) indicator to determine what is the average volatility of a certain coin. That indicator shows you range of price change of the per time frame that you want. It is perfect to hunt perfect coin for day trading. You should always look on the average price change.
If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.
Yes, OP is mentioning about only basics he knows in trading hence I am also suggesting him not to go for day trading due to its wild risk levels. But, we cannot ignore the fact that everyone starts with no experience but over the time, they may become profitable and then slowly becoming professional traders. Still, trying with least capital must be more important until gaining enough experiences.definitely you must adopt the holding way of trading because it will definitely fetch you big profits over the time as we are still in early adopting stage of cryptocurrencies.
That must be a good suggestion for the people who do not have any experience in trading so far. I agree the current markets must be at its bets prices to accumulate as much as possible. Still, investing only in bitcoins may prevent unnecessary regrets later as only bitcoins are having definite future as far as I studied.
You should be able to use trading tools like Bollinger Band. There's tutorial for day trading in Youtube, if the coin didn't seem to give you any good within that trading tool I mentioned, then probably you should skip that coin. You got higher chances around top 5 in CMC. If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.
Volume. Yes, it is the simplest answer on-which you must choose your coin for trading.
When you're focusing on high volume based coins then you can easily filter out the coins which are being pumped and dumped by its bag holders.
Moreover, I never recommend to go for daytrading even with high volume coins like bitcoin or ethereum because definitely you will get trapped because no one could predict exact reversal point of markets which is the reason daytrading is always a slow kind of suicidal. If you want to make easy money from crypto markets then definitely you must adopt the holding way of trading because it will definitely fetch you big profits over the time as we are still in early adopting stage of cryptocurrencies.
When you're focusing on high volume based coins then you can easily filter out the coins which are being pumped and dumped by its bag holders.
Moreover, I never recommend to go for daytrading even with high volume coins like bitcoin or ethereum because definitely you will get trapped because no one could predict exact reversal point of markets which is the reason daytrading is always a slow kind of suicidal. If you want to make easy money from crypto markets then definitely you must adopt the holding way of trading because it will definitely fetch you big profits over the time as we are still in early adopting stage of cryptocurrencies.
I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.
Any one know pls share some tips for me.
Before you buy some coins in the exchange dude, you need to review or check the latest updates about it first.
After checking that things, you must also check its status at the coinmarketcap as well if the community are positively supporting
it or not somethings like that.
That's what I do to see if the project still have developments to get a better insights of quick profit but don't usually go back to buy again since I don't trust to hold back and look for another prospect to earn, but if people still not sure on how to investigate or don't know what to do better if they stick on bitcoin and learn the basics since trading the top is the most ideal thing for beginner for testing the waters.
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