Honestly I started just a month ago.
I watched my initial investment triple in days. Then sadly I watched it crash because I didn't know better.
I've now dug my heels into learning how to day trade and hodl for long term.
Tons of great info out there, and tons more that will confuse you even more.
I've learned a ton since finding @CryptoChoe and @PhilakoneCrypto on Twitter. Very insightful info given freely over the course of the day (I swear these two never sleep!) @PhilakoneCrypto even has a bunch of training guides on his SteemIt account.
Aside from that, day trading is about small gains over and over again. Sometimes they'll be huge bursts, and sometimes not so huge.
Also, beware of pump and dumps and learn how to recognize them so you don't get stuck holding the bags!
Topic: I wanna learn how to daytrade (Read 175 times)
These are informative answers. I am watching this post so I can have the latest info if I ever decide to pick up day trading. You need to have nerves of steel, though, as the cryptomarkets can really give you motion sickness or whiplash.
Couldn't agree more! lol @ whiplash...so trueLast year was much better though.....this year is off to a bad start...but if you look at 2016, 2015 and 2014...you will see beginning of the year...every year it seems...is off to a bad start for the first two months.....things should liven up by month end.
But as I mentioned the thread I advised ppl to read.....it became too much....I had to have my ear on the news constantly, be juggling 3 or 4 buy\sell orders per crypto pair.....had at least 7 different pairs and then I even had alarms on my phone so when prices hit or missed I could adjust the orders....whew!
No it got crazy....too crazy to handle while working a full time job and try spend time with kids and family in the evening....and I don't have enough invested to make it a full time job....so searched around for an easier way to trade....that could make me money with crypto's but not run around like a headless chicken.....
So discovered Bmybit........did look at trading bots, but pc needs to be online 24\7 which in my country does not happen(between lightning strikes and people stealing the telephone AND power cables at least once a month) and now all that stress is gone....
@Nwankwobtt - No problem!
1. Buy low.....sell high. That's it.
But....there are other considerations:
Don't be greedy.
Don't put all your eggs into 1 basket.
What goes up..must come down....and versa visa.
Do your research....read up before you put money into it. (That goes for exchanges as well) Check on Cryptocompare.com for reviews about various exchanges.
Stay away from ICO's. Most are scams.
Don't trade or invest more than you willing to lose....crypto's are volatile. But if you panic and want to sell at a loss...just wait...markets always come back up again.
You need to think in terms of 10 to 30 days...even more. 50 to 100 days is even better. A dip in the market that seems huge is a blip on the radar when compared over time.
Learn how to read markets and Standard Moving Averages. Look on Youtube.com for cryptotraders...Datadash is one of the better ones...he also has some very nice trading
beginner videos on what websites to use and tools to help you start out.
And last but not least....read this thread:
https://bitcointalksearch.org/topic/types-of-trading-bots-any-detail-and-how-they-work-2699356
Good luck and happy trading!
But....there are other considerations:
Don't be greedy.
Don't put all your eggs into 1 basket.
What goes up..must come down....and versa visa.
Do your research....read up before you put money into it. (That goes for exchanges as well) Check on Cryptocompare.com for reviews about various exchanges.
Stay away from ICO's. Most are scams.
Don't trade or invest more than you willing to lose....crypto's are volatile. But if you panic and want to sell at a loss...just wait...markets always come back up again.
You need to think in terms of 10 to 30 days...even more. 50 to 100 days is even better. A dip in the market that seems huge is a blip on the radar when compared over time.
Learn how to read markets and Standard Moving Averages. Look on Youtube.com for cryptotraders...Datadash is one of the better ones...he also has some very nice trading
beginner videos on what websites to use and tools to help you start out.
And last but not least....read this thread:
https://bitcointalksearch.org/topic/types-of-trading-bots-any-detail-and-how-they-work-2699356
Good luck and happy trading!
Thanks for the lesson
Go to youtube and watch daytrade videos.
Thanks dude. Sinple message but a lot to learn, im sure. It will help me for me.
These are informative answers. I am watching this post so I can have the latest info if I ever decide to pick up day trading. You need to have nerves of steel, though, as the cryptomarkets can really give you motion sickness or whiplash.
1- read some books about crypto and what is the crypto
2- determine that you are a technical trader or fundamental trader: technical trader use technical charts and fundamental traders use news for trade.
3- if you gonna to trade with the technical approach you can use tradingview.com and before using that site learn technical method using youtube movies
4- start with low money and test your learning
5- if you can trade and your prediction is well you can continue your work with more money
2- determine that you are a technical trader or fundamental trader: technical trader use technical charts and fundamental traders use news for trade.
3- if you gonna to trade with the technical approach you can use tradingview.com and before using that site learn technical method using youtube movies
4- start with low money and test your learning
5- if you can trade and your prediction is well you can continue your work with more money
There's a guy on youtube called Kryptographyk search him he has some videos with good advice for starting daytrading.
Go to youtube and watch daytrade videos.
1. Buy low.....sell high. That's it.
But....there are other considerations:
Don't be greedy.
Don't put all your eggs into 1 basket.
What goes up..must come down....and versa visa.
Do your research....read up before you put money into it. (That goes for exchanges as well) Check on Cryptocompare.com for reviews about various exchanges.
Stay away from ICO's. Most are scams.
Don't trade or invest more than you willing to lose....crypto's are volatile. But if you panic and want to sell at a loss...just wait...markets always come back up again.
You need to think in terms of 10 to 30 days...even more. 50 to 100 days is even better. A dip in the market that seems huge is a blip on the radar when compared over time.
Learn how to read markets and Standard Moving Averages. Look on Youtube.com for cryptotraders...Datadash is one of the better ones...he also has some very nice trading
beginner videos on what websites to use and tools to help you start out.
And last but not least....read this thread:
https://bitcointalksearch.org/topic/types-of-trading-bots-any-detail-and-how-they-work-2699356
Good luck and happy trading!
But....there are other considerations:
Don't be greedy.
Don't put all your eggs into 1 basket.
What goes up..must come down....and versa visa.
Do your research....read up before you put money into it. (That goes for exchanges as well) Check on Cryptocompare.com for reviews about various exchanges.
Stay away from ICO's. Most are scams.
Don't trade or invest more than you willing to lose....crypto's are volatile. But if you panic and want to sell at a loss...just wait...markets always come back up again.
You need to think in terms of 10 to 30 days...even more. 50 to 100 days is even better. A dip in the market that seems huge is a blip on the radar when compared over time.
Learn how to read markets and Standard Moving Averages. Look on Youtube.com for cryptotraders...Datadash is one of the better ones...he also has some very nice trading
beginner videos on what websites to use and tools to help you start out.
And last but not least....read this thread:
https://bitcointalksearch.org/topic/types-of-trading-bots-any-detail-and-how-they-work-2699356
Good luck and happy trading!
I think a good start is https://www.babypips.com/. There you have a lot of tutorials about technical analysis and it is perfect for beginners, also you can follow on twitter different crypto analysts and try to understand their TA. Good luck!
I wanna learn how to daytrade crypto, whats a good newbie guide i can read?
Thanks!
/J
Thanks!
/J
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