It's been so long since I stopped day trading. Actually, it was like a dream to me when I've heard and seen people do the thing but when I've done the actual.
That hit me the reality that it's not easy as what I'm thinking. It will require you to continually learn a lot of things and not just about charts and the market but even you need to spot on the trends and news related to it.
It entails a lot of things that needed to be known even for the basic but it's not deep if you started there. Although I can pursue it again but maybe sometime in the future but not for now.
Topic: How Would you Describe Yourself As A Day Trader? - page 2. (Read 386 times)
Day trading can be stressful and as well be less stressful in terms of doing market analysis, the stress of going to smaller time frame in order to see opportunity in the market for day is another thing, because you don't only rely on the Bigger time frames to profit, in the order hands can make you money within the shortest period of time, if you have good understanding of the market.
One of the best way to profit as a day trader is during when there's volatility in the market, basically during the London and New York market session, that is when most banks are actively in the market.
One of the best way to profit as a day trader is during when there's volatility in the market, basically during the London and New York market session, that is when most banks are actively in the market.
some of us have been trapped and suffered losses but if they still hold their coins calmly and don't panic, they still have a chance to sell at high prices later. Hopefully, they can still be patient, waiting for the price to increase so they can sell it at the peak price.
That's why I always try to stay calm no matter the circumstances so I can keep analyzing properly and not be provoked by negative news from out there. Trading requires a lot of things to be profitable and is not easy. But by continuing to try to learn to develop ourselves, I think we will succeed.
I agree that patience is the key right now to our future success. People who bought when it was higher, could buy right now to lower their average and they could wait a bit more for the price to go above their purchasing average in order to make a profit. I have done this so far, and I am profiting very well, it's really not that hard to do it because all that is required of you is to be patient about the price.That's why I always try to stay calm no matter the circumstances so I can keep analyzing properly and not be provoked by negative news from out there. Trading requires a lot of things to be profitable and is not easy. But by continuing to try to learn to develop ourselves, I think we will succeed.
I know it looks not so great right now compared to what it has been, but it also looks better compared to last year as well so you should be happy about the potential at least, it's on the way up and that's a very good thing for all the people who are waiting.
I don't actually do day trading much, but when I do, I'd probably label myself as being risk-averse. Probably because I mostly would purchase coins that have a significant trust within the industry and that would give me a more guaranteed though less profit instead of choosing high-profit potential coins with higher risks.
I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.
A wise decision from you, I think the option of buying a coin that has credibility and has a clear ecosystem can provide a guarantee that is safe and very profitable, but it's true that the profit is not much, but at least our assets will be safe for a long time. I also avoid trading on shitcoins because the risk level is so high and it rarely ends up being a scam. Things like that we should be aware of when trading in order to avoid something we don't want. I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.
I don't actually do day trading much, but when I do, I'd probably label myself as being risk-averse. Probably because I mostly would purchase coins that have a significant trust within the industry and that would give me a more guaranteed though less profit instead of choosing high-profit potential coins with higher risks.
I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.
I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
In such case where you are stucked in loses and you are sure it is no longer favourable for you staying there, I think exiting will also be fine to help you save some capital instead of allowing it to run out to your stop loss. If I get trapped sometimes I use such escape and wait for the next right move or otherwise stay out till the next day as a day trader.
Exiting the market when trapped will be fine if we are not provoked to sell coins in a state of loss. I have often been trapped in such a situation and did nothing just came out of the market. And after waiting for a while, it turns out the price can increase again and even some coins can increase high, which allows me to produce additional profits from the price I targeted. According to my friend's advice, trading should not be in a hurry so that we do not panic and remain calm, watching the course of the market.Your friend is right. Not just on trading actually but in everything that we do, we only need to be calm so that we can perform the task better than compared to when we are rushing because mistakes can often come there. We should always remember that life is not a competition and slow and steady are the ones who can win the race.
That's why I always try to stay calm no matter the circumstances so I can keep analyzing properly and not be provoked by negative news from out there. Trading requires a lot of things to be profitable and is not easy. But by continuing to try to learn to develop ourselves, I think we will succeed.
I only do day trading when the market is stable, and you can predict it easily. Given the situation right now on the market, I won't make any day trades. I try to avoid high loses. Now the market is unstable, and I don't have much knowledge to survive in this. So for now it will choose to stop and wait for the right time.
For now, I am just HODLing. Will start as soon as the market picks up a steady flow.
For now, I am just HODLing. Will start as soon as the market picks up a steady flow.
In such case where you are stucked in loses and you are sure it is no longer favourable for you staying there, I think exiting will also be fine to help you save some capital instead of allowing it to run out to your stop loss. If I get trapped sometimes I use such escape and wait for the next right move or otherwise stay out till the next day as a day trader.
Exiting the market when trapped will be fine if we are not provoked to sell coins in a state of loss. I have often been trapped in such a situation and did nothing just came out of the market. And after waiting for a while, it turns out the price can increase again and even some coins can increase high, which allows me to produce additional profits from the price I targeted. According to my friend's advice, trading should not be in a hurry so that we do not panic and remain calm, watching the course of the market.Your friend is right. Not just on trading actually but in everything that we do, we only need to be calm so that we can perform the task better than compared to when we are rushing because mistakes can often come there. We should always remember that life is not a competition and slow and steady are the ones who can win the race.
In the end, day trading does not mean that you must close your deals within 24 hours, but rather means short-term trading associated with reasons that make the price move in the short term (an hour, a day, or several days in the long term).
This is true, swing traders may not close a trade for two days if he believes in his analysis and if the market has not been favoured, but this may be what may lead to liquidation at times. A day trader can open a position and his analysis may favour in few minutes to just one or two hours, normally that is scalping if he close the trade, but still he is still a day trader. It is hard to differentiate between a day trader and scalpers at times because day trader may scalp while scalpers may leave a thread for a long time than minutes and hours just like day traders. 
As a day trader, how would you describe yourself? Are you risk-seeking or risk-averse?
If day trading is risky then how will a trader profit if he averse the risk? because the risk in trading will provide losses as well as profits, but dare to take risks then there will be no profit that can be obtained.I am no longer a day trader because long-term hold are more profitable, I bought BTC when the price was still hundreds of dollars and sold when the price reached thousands in 2017 but if I could be more patient I could sell for tens of thousands of dollars or if I choose long term hold will get more profit than doing a day trader when BTC enters bullish in 2016-2017.
Day traders need more knowledge in my opinion because traders must first look at the charts before opening a position and also when setting targets, if we think that day trading is buying cheap on the day and waiting for the market to go up on the same day without any knowledge at all that's a bad thing and will waste a lot of money and time that we have, because they don't really understand what the market is like.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
But if the market situation reverses in the middle of my trading and I get stuck in that situation, I will hold on and not continue trading because it will not be good for me.
In such case where you are stucked in loses and you are sure it is no longer favourable for you staying there, I think exiting will also be fine to help you save some capital instead of allowing it to run out to your stop loss. If I get trapped sometimes I use such escape and wait for the next right move or otherwise stay out till the next day as a day trader.
kycnot.me is a good website with their list and reviews, scores for non-KYC platforms from exchanges to peer-to-peer marketplaces.
You can use Kucoin at the moment if you don't want to do KYC but in future, with more regulations I believe eventually Kucoin will have to force KYC on their global users.
Quote
Although I only have more confidence on Kucoin.
Kucoin has some years in the cryptocurrency market and they provide good service to their users. They belong to Tier 1 exchange list and their scores on Coinmarketcap, Coingecko are good too.You can use Kucoin at the moment if you don't want to do KYC but in future, with more regulations I believe eventually Kucoin will have to force KYC on their global users.
Tried to be a day trader before, at first its easy since I’m still motivated to make money in the market and honestly Day trader for me are more about guessing the trend than to analyze it, so the result for me was not good. After losing some of my capital in day trading, I decided to try to do a short term trade which I started to analyze, set-up my target price and my cut loss price so far I’m doing good with this. Day trading is very risky, it requires a lot of attentions and time, so don’t be a day trader if you will not spend time to analyze because it will just consume all your capital, this is not worth it if you will just guess your trades.
I am short term trader typical but can't guarantee with daily day trading or earn profit trough trading in cryptocurrency in one day, I know all short term trader want to earn profit as soon possible or in daily day trading but we can't predicting about how price later from bitcoin or altcoin trade.
Exactly with all coins have been in support price potential recovery and wake up few percent later and has chance take profit in daily day, but when entry in lower price but after buy order filling have another drop or lower price from coins trading and not option taking profit in daily day or become shorth term trader in one day. After long term become holding from my altcoin investing, now I try keep effective earn profit in daily day without holding for long term.
Exactly with all coins have been in support price potential recovery and wake up few percent later and has chance take profit in daily day, but when entry in lower price but after buy order filling have another drop or lower price from coins trading and not option taking profit in daily day or become shorth term trader in one day. After long term become holding from my altcoin investing, now I try keep effective earn profit in daily day without holding for long term.
I aint entirely sure whether to label myself as a risk-lovin or risk-avoidin trader, maybe just a hilariuos one! Back when I was a newbie day trader, I had a bit of a daredevil streak in me. I was so thristy to make bank that I frequently brushed off the risks and went all-out. Clearly, that wasnt a smart move, and I discovred that the hard way. One time, while tradin the futures market, I got cocky about my position. The market was goin against me, but I kept slappin more and more contracts onto my losing position, believin it would eventually turn around. It didn't, and I wound up losing a small chunk of cash. Since then, I've become more risk-shy and learned to handl my trades with more caution. Yet, I still think that havin a sense of humor is key for any trader. It helps me keep my cool, even durin the most nerve-racking moments, and not take stuff too seriouss. I mean, if you cant clown on yourself, then who can you clown on, right?
Creating such a topic will give me 0 benefit from knowing people’s opinions.
you must limit participation only to day traders, and even these day traders, the answer must be for those who made gains and continued trading over a relatively long period of time, for example 6 months to a year, but just a random sample question will not give good results,
In the end, day trading does not mean that you must close your deals within 24 hours, but rather means short-term trading associated with reasons that make the price move in the short term (an hour, a day, or several days in the long term).
you must limit participation only to day traders, and even these day traders, the answer must be for those who made gains and continued trading over a relatively long period of time, for example 6 months to a year, but just a random sample question will not give good results,
In the end, day trading does not mean that you must close your deals within 24 hours, but rather means short-term trading associated with reasons that make the price move in the short term (an hour, a day, or several days in the long term).
Day trading is good but it is much preferable for the volatile market. The market can be very manipulating and if we don't know how to position our trade we might end up becoming frustrated ending to a big lose. I was once a fan of day of day trading buy I relinquish such habit because of the consistent changes in market pattern.
For newbies who are just trying to get some profits or learn about trading, they can kickstart with day trading to see how the market works and how constantly everything do change. In as much as we are making consistent profits form the market they whatsoever pattern of trading we are using shouldn't be a problem to us.
For newbies who are just trying to get some profits or learn about trading, they can kickstart with day trading to see how the market works and how constantly everything do change. In as much as we are making consistent profits form the market they whatsoever pattern of trading we are using shouldn't be a problem to us.
Day trading involves risks, and every day trader knows that they need to have a level of risk tolerance. While risk-seeking day traders can take on massive risks in the pursuit of huge profits, risk-averse day traders seek to reduce the amount of risk they would encounter. As a day trader, how would you describe yourself? Are you risk-seeking or risk-averse?
No risk no reward right?, but If there are ways to avoid the risk and reduce the risk I encounter in trading, I am definitely choosing that option. Taking on risk on purpose because I believe that I will be able attract better rewards is the way I will choose because everything is on probability and just as I can win huge profits, I can also incur life changing losses that can make me stop trading. There are already risk and a lot of uncertainties with trading, trying to reduce them as much as possible and still make gains is my target.
I tend to dislike day trading so far, and it's the thing I give the least thought to in the crypto market. Avoiding the risk of loss from day trading is one reason, and another reason is the limited time to do it.
But as you said, there are a lot of people who might be focused on being a day trader because they have the time and skills to analyze specific markets and assets. Meanwhile, I prefer to invest over day trading, this allows me to focus on other things while occasionally monitoring the progress of my portfolio.
But as you said, there are a lot of people who might be focused on being a day trader because they have the time and skills to analyze specific markets and assets. Meanwhile, I prefer to invest over day trading, this allows me to focus on other things while occasionally monitoring the progress of my portfolio.
I rarely do day trading because it makes me greedy on trading instead of minimizing risk. I always for a coin that has a high volatility for that day and betting in reverse position hoping that buying/selling power will be exhausted at some point. The point of day trading is to have decent profit minus fees when you complete a day trade. This is risky because the coin I’m buying is hot and it’s either will bring profit or loss. At the end of the day the risk management will saves you when doing this kind of strategy.
Jump to: