Topic: How to make a life by Day Trading - page 6. (Read 1146 times)
There is no substitute for learning to make a profit by trading. Every moment a trader has to learn about trading. A trader needs to understand the trading charts well, observe the candlesticks, observe the movement of the market according to time, and when a trader can do all these things well, his chances of profiting from trading are very high. I am not saying that he will never get hurt if he has enough knowledge about trading, no matter how much a trader learns he can never be sure that he will get confirmation by trading. A good understanding of the market will only lead to good things. We should learn enough about trading and never depend on luck because depending on luck will never be good for your money.
This reminders that you had made here was absolutely good dude, but you didn't give a warning to everyone who will enter the crypto trading or day trading is not an easy things here
Especially in doing leveraging or day trading, because as far as I know doing day trade is most of the time are the scalpers and have a deep knowledge in trading skills or reading tools as well.
While in leveraging too is also has a high risk if anyone don't have a lot of idea on this matter here in this industry. Or you just forgot to remind those who will get interest to do trade here in the crypto space?
Especially in doing leveraging or day trading, because as far as I know doing day trade is most of the time are the scalpers and have a deep knowledge in trading skills or reading tools as well.
While in leveraging too is also has a high risk if anyone don't have a lot of idea on this matter here in this industry. Or you just forgot to remind those who will get interest to do trade here in the crypto space?
Not always based on luck, maybe luck is only a few percent, but the most influential is the psychology of trading.
Novice or professional traders both have constraints on trading psychology, they will be affected by unstable psychology.
Psychological control is not easy, it takes good flight hours and strong self-control.
I myself have also been trapped in a condition where my psychology is in turmoil when all strategies do not go according to plan and losses hit quite a lot.
This usually happens to day traders, but for long-term investors, it will only affect the decision of when to enter and when to exit so that they can profit according to the initial strategy.
Novice or professional traders both have constraints on trading psychology, they will be affected by unstable psychology.
Psychological control is not easy, it takes good flight hours and strong self-control.
I myself have also been trapped in a condition where my psychology is in turmoil when all strategies do not go according to plan and losses hit quite a lot.
This usually happens to day traders, but for long-term investors, it will only affect the decision of when to enter and when to exit so that they can profit according to the initial strategy.
I relate to this. I remember before when I'm in a situation that waiting for the price to drop below the resistance and I buy short then suddenly the price goes up and didn't put any stop loss since I'm confident that I'm going to make a lot of money overtime it's really hits me hard. That's why today I usually do some strategies and analysis with my friends so we can talk about what we think we must do. It's really helpful for someone who always hesitate on own decision.
Trading is very complex and not the way we are seeing it. There are people that had lost so much in trading and the reason is not that they don't know how to trade but I think it is mostly based on luck and how we position ourselves when we trade.
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Not always based on luck, maybe luck is only a few percent, but the most influential is the psychology of trading. -snip-
Novice or professional traders both have constraints on trading psychology, they will be affected by unstable psychology.
Psychological control is not easy, it takes good flight hours and strong self-control.
I myself have also been trapped in a condition where my psychology is in turmoil when all strategies do not go according to plan and losses hit quite a lot.
This usually happens to day traders, but for long-term investors, it will only affect the decision of when to enter and when to exit so that they can profit according to the initial strategy.
Theoretically, this is quite doable. But in reality, this is really risky, and not everyone can do it. It cannot be denied that the profits from day trades can indeed be considered quite profitable if we really understand a number of things related to daily trading. At least we understand the knowledge and its application, including some of the management that influence trading. However, this is not guaranteed, because day trades carry a higher level of pressure and risk.
Not only that, our intensity to analyze the market and also monitor market movements will also increase and must be done frequently just in case the market suddenly changes direction. So that we can immediately move quickly to implement new strategies at times of urgency. You could say that day trades make us busier. So precisely, high turns will always require high risks and efforts. For example, can you ask? Yes, of course you can, but in accordance with the efforts expended as well.
Not only that, our intensity to analyze the market and also monitor market movements will also increase and must be done frequently just in case the market suddenly changes direction. So that we can immediately move quickly to implement new strategies at times of urgency. You could say that day trades make us busier. So precisely, high turns will always require high risks and efforts. For example, can you ask? Yes, of course you can, but in accordance with the efforts expended as well.
Your views in learning trading is good but it's obvious that nobody can learn trading perfectly but during the process of trading you have take observation and follow the procedure and ensure that the precautions has already been taken, but make profit in your trading you have to learn and understand the movement of chart..one of the things that make some of us to not profit in trading is inability of understanding the movement of candle sticks, so therefore understanding the graph chart is what will determine your profit in trading and also your lose.
Trading is very complex and not the way we are seeing it. There are people that had lost so much in trading and the reason is not that they don't know how to trade but I think it is mostly based on luck and how we position ourselves when we trade.There are people that are even making more money in trading than there sponsor or tutor. This is a game of challenge and playing along utilizing what we have learnt so far. I see trading as a thing that even need more concentration that we need to do unless now that programmers keep developing bots that can trade like humans although this kind of trading has some limitations which is not 100% correct.
In case of day trading you forget that you will get profit every day, in case of day trading if you gain one day you have to lose another day but you have to accept these things. If trading can be done by accepting these things then surely something good can be gained from trading.
In any business, if a profit can be made, there is also a risk of loss. It depends on our skill, experience and knowledge how much we can reduce our risk of loss, and how much we can improve our profit rate. Even in day trading, it is not necessary that all our trades give us profit. Our trades may be wrong and losses may occur, but we need to improve our profit ratio through our experience and analysis. All the tools used in day trading and information about chart volatility can help us improve our trading. Day trading is definitely difficult but if we try to learn with interest and hard work we can get good result.
Trading has many risks and it is not for everyone. Day trading on the other hand is quite difficult. It is not as easy as long-term trading. You will have to learn it from the ground up to the top. And with that knowledge, you will have to gain experience too. If you don't try it out on the field, you can't get familiar with it. And if you don't do it by yourself, you can never become good at it.
I don't think everyone can afford to invest $200 in trading. If you are coming from a 3rd world country like me, then that's a good amount of money. I don't think everyone can afford to lose that much. I am saying this because you said that it's a learning process. If we are learning, we can use much less than this. That will be a good idea. When you lose that much amount at your first trades, you will lose hope. So make that less and learn to lose first with small amounts. That way in the future, big losses won't affect us emotionally. Other things I can agree on.
I don't think everyone can afford to invest $200 in trading. If you are coming from a 3rd world country like me, then that's a good amount of money. I don't think everyone can afford to lose that much. I am saying this because you said that it's a learning process. If we are learning, we can use much less than this. That will be a good idea. When you lose that much amount at your first trades, you will lose hope. So make that less and learn to lose first with small amounts. That way in the future, big losses won't affect us emotionally. Other things I can agree on.
Your views in learning trading is good but it's obvious that nobody can learn trading perfectly but during the process of trading you have take observation and follow the procedure and ensure that the precautions has already been taken, but make profit in your trading you have to learn and understand the movement of chart..one of the things that make some of us to not profit in trading is inability of understanding the movement of candle sticks, so therefore understanding the graph chart is what will determine your profit in trading and also your lose.
It is not right to try to achieve anything overnight, we can never change our position if we want to change our position in a very short period of time. To change one's position one must have enough respect, devotion and respect towards one's work along with a lot of patience only then one can reach the desired goal. If trading can be done by understanding the market in terms of changing one's position, then surely it is possible to earn something good from trading which will help to make the future beautiful.
Day trading can definitely be the best choice for a trader if that person understands the market by following certain rules and having enough knowledge about the market and then engages in trading.
In case of day trading you forget that you will get profit every day, in case of day trading if you gain one day you have to lose another day but you have to accept these things. If trading can be done by accepting these things then surely something good can be gained from trading.
Day trading can definitely be the best choice for a trader if that person understands the market by following certain rules and having enough knowledge about the market and then engages in trading.
In case of day trading you forget that you will get profit every day, in case of day trading if you gain one day you have to lose another day but you have to accept these things. If trading can be done by accepting these things then surely something good can be gained from trading.
It is so indeed. Trades with credit leverage require a lot of experience and understanding of what is happening. Even having vast experience and being a strong trader, you can get big problems using leverage.
Using spot you will not earn as much as you can with leverage, it will be less but possibly more stable and in trades in which you lose money, the losses will not be as large as with leverage. Spot is more secure
Using spot you will not earn as much as you can with leverage, it will be less but possibly more stable and in trades in which you lose money, the losses will not be as large as with leverage. Spot is more secure
trading with leverage I believe is done by experienced traders. they know the risks are bigger than spot trading. but surely for now there are more day traders who do trade with leverage.
even today, those who are just learning to trade are attracted by higher risk trades than spot trading. however nowadays we can see how the interest is increasing from the public regarding crypto trading, be it spot or leveraged. if you teach trading to anyone, first explain the risks involved. not an easy way to get his profit.
Well, 200$ is good enough to start trading, I even start at $100 before and gradually increase it.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Hmm, it's possible with the 200$ to make up for the 50$ at least because as OP is going for the leverage just take more risk using more leverage. But it's not recommended at all and I don't even recommend the Leverage trades, Just go for the spot. Besides recommending I use to say that you should not trade on leverage try to focus on the spot market trades, make small and consistent profits and gradually increase your capital investment.
That is much better than the leverage trade, more safe, and recomended.
It is so indeed. Trades with credit leverage require a lot of experience and understanding of what is happening. Even having vast experience and being a strong trader, you can get big problems using leverage.
Using spot you will not earn as much as you can with leverage, it will be less but possibly more stable and in trades in which you lose money, the losses will not be as large as with leverage. Spot is more secure
Leverage trading will be more risky when using greater leverage, requiring a lot of calculations and analysis for that, if we are not wise in choosing the lot used, it will be closer to experiencing a margin call, what often happens is emotional indulgence, so using uncontrolled lots, this is what often happens when trading, even many traders still make the same mistake, it would be safer to use spot trading
If a trader does not adhere to the risk management system when trading with leverage, then sooner or later his position will be liquidated. But even using such a simple tool as a stop loss will help to avoid liquidation and significantly reduce the risks when trading.
Well, 200$ is good enough to start trading, I even start at $100 before and gradually increase it.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Hmm, it's possible with the 200$ to make up for the 50$ at least because as OP is going for the leverage just take more risk using more leverage. But it's not recommended at all and I don't even recommend the Leverage trades, Just go for the spot. Besides recommending I use to say that you should not trade on leverage try to focus on the spot market trades, make small and consistent profits and gradually increase your capital investment.
That is much better than the leverage trade, more safe, and recomended.
Well, 200$ is good enough to start trading, I even start at $100 before and gradually increase it.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Hmm, it's possible with the 200$ to make up for the 50$ at least because as OP is going for the leverage just take more risk using more leverage. But it's not recommended at all and I don't even recommend the Leverage trades, Just go for the spot. Besides recommending I use to say that you should not trade on leverage try to focus on the spot market trades, make small and consistent profits and gradually increase your capital investment.
That is much better than the leverage trade, more safe, and recomended.
Trading with leverage gives you opportunity to make you gains larger but you need a high risk appetite to do it since it's very risky for people who don't have enough knowledge and experience in futures trading. I started with spot trading also and I do recommend it for those people who don't want to spend time staring the chart on their screen. You can make a profit also in spot trading if you buy before bull run just like this year we are on a bearish market so investing on some reputable coins will make you money 2-3 years from now once the bull market come again.
Well, 200$ is good enough to start trading, I even start at $100 before and gradually increase it.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Hmm, it's possible with the 200$ to make up for the 50$ at least because as OP is going for the leverage just take more risk using more leverage. But it's not recommended at all and I don't even recommend the Leverage trades, Just go for the spot. Besides recommending I use to say that you should not trade on leverage try to focus on the spot market trades, make small and consistent profits and gradually increase your capital investment.
That is much better than the leverage trade, more safe, and recomended.
Well, 200$ is good enough to start trading, I even start at $100 before and gradually increase it.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.
So many people love day trading because it provide quick money than holding,but one thing I cannot do again is day trading,because I don't have all the time i need to focus on it because it requires monitoring,and if you aren't available to monitor it,you will definitely be on the losing side.I have been a victim of day trading,and only those who have experience in it will be able to make a decision whether to do it or not,but for me,I decided never to waste any money in day trading again,rather,I will invest it in any other thing,or possibly hold for future purposes,atleast there is no much risk involved in holding,the only virtue one must try to possess is patience and endurance.If you can wait for a longer period of time,there is every tendency that you will not cry when the result comes out because it will always be positive and not negative.
Trading requires time for your analysis and yes, day trading is requiring you to be more active though it will always depend on your availability since the market is open for 24/7 and you can adjust your trade with it. Making life with trading means you are able to make profit out of it and honestly, its not easy but once you master your trading strategy its possible. Features seems to be one of the fastest way in trading to make money but of course its one of the most risky strategy in trading. You must be ready for a possible outcome of your trade, or else you'll be liquidated. 
So many people love day trading because it provide quick money than holding,but one thing I cannot do again is day trading,because I don't have all the time i need to focus on it because it requires monitoring,and if you aren't available to monitor it,you will definitely be on the losing side.I have been a victim of day trading,and only those who have experience in it will be able to make a decision whether to do it or not,but for me,I decided never to waste any money in day trading again,rather,I will invest it in any other thing,or possibly hold for future purposes,atleast there is no much risk involved in holding,the only virtue one must try to possess is patience and endurance.If you can wait for a longer period of time,there is every tendency that you will not cry when the result comes out because it will always be positive and not negative.
I won't rely my trade in indicators because it will only depend on the previous price movement and it's a little bit laggy. Instead, you should know how to read the market using price action only. Price action must be your main strat and then you can add those indicators as confluence. For beginners, it's a highly recommended that you didn't use high leverage, don't fall for potential profit because the risk is so high. It's better to use low leverage so that you can survive in the long run and you can master what strategy that is really works.
Honestly the OP think relying only on MACD indicator without considering the fact that some of those indicators lagged in Live trading in some cases Price reversal had already commenced when some of those indicators signals buy or sell, Candlestick patterns are the real indicator couple with Ema for trend direction and RSI or Stochastic Oscillator used to determine overbought and oversold of the price, Moreso the OP should rule out using high leverage for a new trader just to earn massive profit in jiffy ignoring the fact that a price reversal will liquidate their account completely, trading is not a get rich quickly job but a long term profit earning venture a 2% to 5% monthly profit is enough with a huge capital. Jump to: