Topic: My experience day trading - no moon shots (Read 2053 times)

Man this is great! If I can make 1% daily without loss, trust me I’ll be okay. The problem is that some days you don’t even make profit. If I can be getting the right signals making 1%+ daily, then by the end of the month I would have about 30%+ profit and that’s really okay for me. There are people who needs more than that, some people talk of 100% profit lol.

Hi

I wanted to write a small piece about my experience day-trading since I switched my focus from moon shots and started listening to the folks at Voodoo Crypto: https://discord.gg/BN9P2tk

Moon shots are great - who doesn't love making 10, 20, 50%+ on a single trade. But over time this just isn't going to work unless you have the best TA or insider info.

Instead, I've more recently been learning about day trading based on depth chart analysis. Picking coins with huge order books (+100 BTC buy/sell) and huge volume (+1,000 BTC in 24hrs) to avoid the manipulation from whales - getting the charts assessed by the team and trading off the fluctuations.

My aim is to make 1% in a day - that's super easy, especially with indicators suggesting which way the price will ebb and flow. An example chart is in the image below (it's ADA so don't hurt me if it isn't your favourite but it is the first one I grabbed, coins vary depending on what satisfies the criteria):

https://media.discordapp.net/attachments/457359982346633227/488851698664734721/unknown.png

I would put an order in for the easy buy range and sell when it hits yellow. Keep stop losses tight (1%) to avoid getting burned.

I now aim for 1% in a day and once I achieve that I'm done - come back tomorrow and do it all again. Compounded it adds up quickly, hopefully this time next year I'll have made a good decision.

Come and see the free charts in the discord above and say hello. Any suggestions/improvements on this strategy always welcome.

Richest crypto friend I have, is this type of trader. He doesn't look for x100 coins he looks for 5% profits. When he buys a coin he puts a sell order right away for 5% profits and just leave it be. If the price drops he purchases some more, he always puts some coins aside just in case and when the price drops he uses that left over capital and even lefts some more. This way the coin drop 50% if it needs to be and he still buys more and whenever it makes him 5% profit he sells it. That way he made his coins from 0.9 bitcoin to like 30 bitcoin now because he was patient and he always got out quick and never hold a bag too long.

It is still possible to make profits in this volatile market even it is slowly moving down side. For example, look at dogecoins. It is time to trade select coin rather than sticking with what we had traded last year. Choose your pairs wisely and you may find yourself successful when you apply new strategies.

How can anyone be making any profit from such type of trade if the crypto currencies are either being too volatile on negative side or they may not be moving in the positive direction at all.

Indeed a very interesting day trading strategy and should be easy to achieve. It is not an unrealistic thing to make as far as I am concerned, and I am sure it is a strategy that would always pan out as long as you mentioned about keeping your stop loss active, while still making use of the indicators to make you decisions. It is really a very good tip and a good thing to be sharing experience, so I will say kudos to the OP.

In fact, sitting within btc is really some good call to make. A lot of traders really will not want to do that considering that they also trade the bitcoin fluctuations as well, but at least, setting your priorities right and the priority you have set in remaining in bitcoin is honestly a very solid one and I 100% dig you on that. Also, with your very tight stop loss, it is a very solid way to go about trading bitcoin-altcoin pairs due to their high level of volatility. ADA by the way seems to be a good option to as well.

Is this net 1% as we have to take in consideration the trading and withdrawal fees as well.
Agree on the logic behind that small is sometimes bigger but  even 1% is not achievable every day on this kind of market we have nowadays.

You are surely right earring small but continue will give you good profit, day trading has a lot profit but most of time those earns who have patience of facing any kind of situation, rise and fall use to come but those who understand the situation will get bigger profit, so before getting to trading for day one should know about all features of trading for day, it will improve our earning and our skills for trading next time.

Although long-term investment is a logical and profitable investment, it is not preferred by many investors. The main reason for not being preferred in this sector is the fact that investors are impatient and act with faulty thinking. Long-term investments are extremely lucrative, but many investors often do not benefit because they perceive long-term investment as peak point hunting. The experience and recommendations you specify are the content that many investors need to read, which will be especially useful for new investors. Again, it is not a long-term investment to make summit hunting. It can be very comfortably stated that investors who have solved this situation have already earned a permanent profit.

This strategy is interesting. But would you have a few more numbers to prove its effectiveness? The problem is that the price in certain moments shoots and all the profit obtained in a week can go away in a single day.

But in bot management this is the logic and this provides liquidity to the market.

Gain at least 1% profit everyday is indeed sound like impossible thing, but it doesn't mean someone can't do it. Of course the chance is very very low and almost impossible.

a very good daily strategy, indeed if we are going to trade daily it must be like that, take a little profit but continuously and the key is patience.

1% profit is enough for me, If I will try to trade. However, I want to start my journey in trading when I knew already the combination using the technical indicators. As of now, I am searching for good strategy for trading and investment. If I gather 1000 dollars capital, I will start trading

That may be your choice, but certain people prefer to always take the better risk with great opportunity than just sitting in a position for too long. It may work out well for someone without trading knowledge, but it does not mean it is the best thing to do in terms of making profit. What you are doing trading is to take advantage of the fluctuations. Now, it does not necessarily have to be day trade, as there are better means to achieve that.

This is how the emotion failure while trading may trap you out. Day trading is known for scalping like many small profit making whereas if we understand this then we may avoid unnecessary disappointments very easily.

An interesting strategy, the main thing is to follow it clearly, just not everyone is able to restrain their excitement and want more profit,and this will have a negative impact on the result

Based on my experience it can indeed be easy to crypto with volatility to get 1% at daily trading, but the risk is also quite large, it will be very difficult if you have to produce consistent profits on the daily trade. I also once thought like that was enough to produce 1% a day but after I lived this was a very difficult goal, especially with large funds.

a very good daily strategy, indeed if we are going to trade daily it must be like that, take a little profit but continuously and the key is patience.

Regardless of the amount you start, it's still impossible to get at least 1% profit daily.
It's like a ponzi if you claim yourself to be able to make that consistently, what I know in trading is that you have bad and good timing, therefore
you also loss sometimes.