Topic: How to learn cryptocurrency day trading! - page 4. (Read 1827 times)

True, but I see that as a good thing, that means that if you are a good trader that can obtain profits in the stock market, the market of cryptocurrencies only offers even more opportunities to earn a lot of money thanks to its increased volatility, and the example that you give about ethereum is perfect, if this was the stock market you will never expect that ethereum went down the way it did but this means that you have a golden opportunity to buy ethereum and make profits that way.

Indeed it needs a lot of knowledge and information if we will increase our information about crypto currency day trading trust me it will make our money more than double. So I think all of us should have this skill because having day trading as skill will increase our income and our money to more than double, I think we should learn more and more and read articles related to it.

Day trading is very cretical and risky.So before trading you must achieve more and more knowledge about crypto currency market.There are so many site where talk about day trading.You can larn from those site.

Technical analysis is not difficult to obtain considering a person has been keeping up with the stock market trading as well. Its the same applied here just the commodity being traded is different and the modes by which they fluctuate are different. A trader who already has an idea of what RSI is would be able to apply it here as well.

The big difference is that crypto market is susceptible to FUD much more than other markets. You wont see a continuous 10% drop in the top stocks of any exchange continue to happen over several weeks but thats what happened to ethereum recently.

It's very easy to learn how to trade within a day! Need only software and strategy. But liquidity is not great. Therefore, the deposit should not be large.

And what about software you can use software that shows the volumes inside the candles.
So you will best determine the manipulator and market liquidity.

Resonance Trading Technology is suitable for you.

Even if there are very few books that concentrate in trading cryptocurrencies, at the same time it is not necessary the principles behind technical analysis applies to any market not only the stock market, so as long as the market of cryptocurrencies that you are looking to trade fulfills the conditions in which technical analysis is effective then you can learn from any book as long as it is a good book.

You can watch trading strategies on youtube there are too many channels giving free trading advices or download e-books

Study MACD(Moving Average Convergence Divergence), RSI(Relative Strength Index), Stochastic RSI, Bollinger Bands,
Support and Resistance. Then watch some tutorial videos in youtube.

The Only method to Learn about Cryptocurrency Trading is to get into it. Open up a wallet or an account in an exchange, buy some coins and start trading it.

Time and experience is well needed for us to learn because it would serve as our guide on the running year in dealing with our investments and cryptocurrency. We should also be agile and flexible on possible changes in development that would also help us to earn more and to be successful in trading.

to be able to study daily trading at least you must be able to understand the conditions of cryptocurrency price movements and must be able to determine the right time to buy and sell coins so you can trade daily.

It is possible that they are newbies to crypto but they are not newbies to trading.
Many people who have come across bitcoin have actually been through stock market and commodity market, gold trading and real estate before coming to crypto. So they may have a background on trading in general.

Actually books there are mostly referring to the stock market. Very few books on crypto trading are available. Hence they new traders tend to rely on youtube. But if they are immune to shitcoin shilling then it should not be a problem for them.

Great topic, would love to read the thoughts
and experiences of our trademates because me also
find day trading difficult and would love to master it.

Trying to lose your deposit? Was that meant to be a joke? If you want to trade, you should never even bring about the quick aspect into the scenario because it does not work that way. Rushing to start trading without being patient enough to have the proper knowledge it takes to be able to trade the market effectively is one of the reasons why so many people who want to start trading fail and end up losing a lot of their capital.

Learn the basics, get a strategy that suits you from all that you have learned, and then practice this strategy until you perfect it before even starting to make any move on the real market, Learning from experience is best when you are simply trading with no real money and you are either paper trading or demo trading.

Still, there is no point learning from experience first without learning from the books as you will get confused and frustrated so fast. You need to be able to learn all that is important to learn about analysis, the use of indicators and every other part to trading when it comes to money management, before even making any solid move at all.

True, many people want to become day traders not understanding that that is the hardest and most difficult form of trading only those that have a lot of experience in the market should try to become day traders, but the problem is the newbies are blinded by greed and they think they can earn a lot of money in this market very easily, something that we know is not true.

I think that your goal is to become a good trader. All information for this  is on the Internet, you just need to find it.

That's what I'm going to propose to you, and you can do what you think is right:
1. Find a few news resources where only crypto news is considered. Start actively reading the latest news. So you will be aware of many of the latest news. (Unfortunately, I can't advise you on English resources, since I read the news in my language).
2. Begin learning the basics of trading with the study of technical analysis. Here you can use the video (YouTube) and read the materials on the internet. You should know that technical analysis is suitable for any markets, so if it is considered in the Forex market, then it's not scary, you just need to understand the essence of technical analysis.
3. When you begin to understand what is technical analysis and how to work with it, then you can begin to practice on small amounts of money. Later, when you become more experienced, you can increase the purchase amount. Experience is a very important part of learning. Without experience, you can't become a successful trader.
4. Further I would recommend to familiarize yourself with trading indicators (this is an important analysis tool in the work of a trader, which is indispensable in forecasting price fluctuations. Experienced traders use a large number of indicators to obtain more accurate data for entering the market.They help in drawing up a correct forecast of the behavior of prices currencies for a certain period of time).
5. Also get acquainted with the fundamental analysis. This is an important component in forecasting prices.
6. I would also like to recommend studying candlestick analysis. This is a very interesting kind of analysis that helps to assess the market and make predictions based on the shapes of candles or their combinations (patterns).

If you want to become a successful trader, then please don't be lazy. Learn all the information I have offered. Yes, it will take a lot of time, but it's worth it

Good luck to you!

Yes.Don't rely much on youtube videos,have your own set of strategies.Practice more and apply all the things you've learned from all you reading materials.If you cannot do them well,don't proceed to trading because it will only make you lose.Have more experience because as time goes by,you will develop your own skills in day trading even if it requires more pressures and stress.

You can start checking out these guys: https://discord.gg/2cjRufh. I've been using their free crypto calls for a few months, and I made a small profits 1-2% almost every other day. Also the community is very helpful and I learned a lot new information and ways to cope with emotional trading. There is also a paid section where you will receive daily a 3-5 coins updated every hour.
It's worth it, but I will suggest you first start with the free signals until you become more knowledgeable and calm.
Good Luck!

Experience is only useful if you actually learn from it, how many times you have seen the same person make the same mistake over and over again? Because that is a very common occurrence and it's something that I see every day and yet people seem unable to learn from their past experiences, so while you are correct when you say that experience plays a role that role can only be fulfilled if you actually take the time to learn from it.

Newbies should never do day trading until they have the proper experience as this kind of trading has huge risks and require continuous monitoring of the chart . Trading has different schools and no one can prove that one method is better than the other .
Quit using youtube if you wanna learn well , it's filled with gurus who only want views on their videos , search for books especially old ones and start applying on demo account first then go to the real world.