Topic: How to start: Daytrading? (Read 1072 times)

Yeah for sure it's really not good to start trading when you have no idea about trading but we should collect a high amount of information about trading first. There is risk in day trading when you are new so better invest a minimum amount in it and get huge profit only for using the appropriate way for it. It's important and useful to keep noting your earning and lose in this journey so you will get a good experience.

I agree with you. Trading in a bear market can make your risk even higher and if you are not careful you will lose a lot of profit when choosing to invest. This year, perhaps only choose Bitcoin as a long term investment because altcoin now depends very much on the price of Bitcoin, so if the coin can not rise, altcoin will not have any opportunity to increase prices. Anyway, I would consider buying altcoin if it is a good project and patiently waiting for some time to know what will happen.

Although daily trading seems to be pleasing to the eye, it is quite risky and stressful. As someone who has been daily trading for a long time and continues to do it actively, I would like to say that when you start this business, your life will undergo great changes both positively and negatively. Yes, I said positive change because you can make very good income when you do this job really well and correctly. On the other hand, just as every good thing has a price, this income will also have a price, which is the negative factor of this business. You will have a lot of stress when you do daily operations and it will not be easy to control this stress. Despite all this, if you think that I want to trade daily and believe that you can do this job successfully, you can start trading without further delay.
When you are going to make daily transactions, you should evaluate the graphic analysis with at least 1 hour and a maximum of 4 hours. I can also advise you to follow the support and resistance points instead of using an indicator for your daily transactions. When trading, you should be careful to be patient, not to panic and to control your capital correctly. You should not panic, especially in the event of a possible loss, and you should always keep your loss level to a minimum by using stop-loss.
Finally, I want to say that if you want to sleep comfortably at night, you must definitely close all your operations and go to bed. To give an example from my own experience, I was falling asleep or having a nightmare, especially during the leveraged nights.

Swing trading is more damaging than day trading Here is the fear of losing And if you do day-to-day trading you can make some profit every day The amount of loss can be offset In that case you will need to analyze different places. Charts are trading well and need to learn Trading Charts better than you know you can set the price low.

As a trader I would like to share on you on how I start trading.
First, find a most trusted person that will help you in studying trading.
Second, Don't be to greed in making profit, because it will lead you to lose a large amount of your assets, because when you greed you don't think about the money that you lose,
            instead you'll just focusing on your earnings but it's not because your just trading a large percentage of your assets and when you get lost it will lead you on a big debt.
Third, when you try to trade. I suggested at least 2-5% of your assets only because it only serves as your practice in predicting the charts so that when you get lose it will not effect a
             lot in your assets.

1, Always put even small take profit orders
2, Do not never forget rule number 2 and 3
3, use stop-loss and take profit

With this you get far

Most beginners make a very serious mistake when they start day trading. They begin to trade using complex systems that they do not understand, a large bankroll that they cannot manage, and also neglect the advice of experienced traders. Start simple. Start to study the quotes of the charts and guess where the price of the coin you choose will go, write all this in a notebook or notepad. Open your first transactions on paper, in the future it will bring you a lot of benefits.

I couldn't agree more. In day trading, the potential of the coin is on top priority, you cannot just go wild with coins moving in a short price range, you need to see the full potential of the coin by seeing it on the market capitalization and trading volume not just because of its price. Common mistakes of day trader, they always base their instinct on the prices which might or might not totally help them to trading. Also day trading isn't that hard if you are hardly working on it much more than a casual trader does.

Most important thing to start with is, never follow anyone else's instincts as it would never make you gain any knowledge. You should try to make your own research before starting with day trading.

Day trading is actually meant for experienced traders as it is not that easy to spot the price changes in 1 minute to 3 minutes graphs. You have to basically start by learning about the charts and patterns and then you have to learn about patterns which are useful for short term trading. You also have to consider learning about the order books to spot the support and resistance levels as you have to adjust your buy and sell orders somewhat near it. You have to get more devoted and try to spend 4+ hours a day in just gaining experience.

I agree with you that as the things are right now, any trade form an unexperienced person could only lead towards massive losses. This would be the case, irrespective of the amount you use to trade, and that's all because of the volatility and these all low historic market lows across all cryptos!

I would advise you to refrain from trading while the market is unstable. It is very dangerous to start trading now, as the market may break in any direction at any time. Now even experienced traders are watching from the outside.

i dont know bout eth but maybe bch and ltc can fullfill what you say  . i see eth as a non unstable altcoin , i can see it via its value because you know ive been checking eth the whole time.  also i monitor the price of bch sometimes but i notice that bch is kinda stable too while i rarely check out the price of ltc  .

 still for me i think the best coin for doing daily trade or daytrading was bitcoin  . we all know how unstable bitcoin is  . we can use this unstability to pocket tiny profits from time to time  . tho im still sticking to my investment business more than trading

I think choose bigger coin like ethereum, bitcoin cash or litecoin become good way for daily trading, third coin have potential for growing up every day although just get several percent profit every day.

Day trading is quite not easy and risky because it's price easily change that's why you need to monitor the market time to time. Also you need to know how to read the chart to avoid loses, it will be fine if you know when to continue and stop. First you need to know about your coin, second know the maket situation, but most of all have patience.

First of all I would suggest you to read online about how to read charts, how to read a chart usually starts with indicators and you will learn at least 40% of all you need from just that, if you know how to read charts, if you know what indicators means, if you know the needed terms to read them and you are capable of looking at the prices from all angles instead of just one-sided that would mean you will be fine while trading.

After that the most important is to go to bitmex or any other website that has "test trading" feature so you can just test yourself and see if you could trade properly and make a good amount of money. If you are capable of making a profit from the testing place, you can slowly turn into real trading and start making some real trades.

if you are planing to do day trading then you have to know managing trades and money risk first , because every day there will be different market conditions if we you dont know how to deal with market conditions then your account will be wiped , you should know when to trade , when not to trade , what position size to use in different conditions   

It's a good way for people who have experience and knowledge about trading. Daily trading is not for newcomers who never traded before, for people who don't have reliable source of info. Daily trading is definitely not for people who can't afford to lose some money before they start to make profit. Bankroll management is important when you're dealing with money in any way, especially in trading and gambling.
My advice for starters is to learn and to  be ready to spend some money for that knowledge they will get along the way. In that process newcomer will be able to try different things and to find out which strategy is the best for his time and bankroll, because what works for one will not necessary work for others.

Daily trading is very good way for trading because you always get profit every day without hold your coin because price going down, but checking which one good coin for trading in daily day is hard and look impossible we can get profit every day.

I agree, Day trading is not easy to do its also need a enough knowledge and you're always in the monitor to check. Also most of your time is needed because of time to time monitoring of the market due to volatile of the crypto, it's better to learn all aspect of day trading because it can avoid or lessen you from loses. And keep studying and learning about day trading and be ready to consume more of your time because in the end can give you good result.

Everything you can lay your hands on is recommended, as long as it’s something that’s going to be helpful. Day trading is not quite easy, don’t think it’s easy because people don’t come here to share story on how they lose except when they start winning.

So, take your time and study, when you have fully understood how it works you can then get into it. And there’s something you else you have to understand, cryptocurrency is volatile and most of the times you don’t need just only technical analysis to tell where the price is really heading to. You need to be following up with news as well.