Topic: My first three days in day trading. - page 7. (Read 2742 times)

We`d rather list trading selection criterias and tips..

it is nice to see this method of trading is catching on.
this is what i have been using for a while too. and actually  the firs time i heard about it on this forum and i tried it out and it has worked so far for me.
however it is worth mentioning that this is a riskier strategy for trading but if you get the hang of it, you can make a much better profit than any other altcoin investment strategy that you have now.

i say you are on the right path and good job on starting small. you will be a lot more successful this way because with small amount you don't fear that much about losing and instead you learn a lot.

So a quick update, I placed a sell order before I went to sleep and woke up to find that the order was filled and the coin I was trading hiked up in price overnight then in the morning was starting to slow down.  There was TONS of activity, like double what I saw during the day so it started to make me wonder if the most active traders on Cryptopia are in Asia (because my time zone is Mountain Time Zone).

I can't speak for other exchanges, but on cryptopia I first look at the trade volume and see one that has had a sudden spike in trade activity.  Then I look at the percent increase in value, 30% - 50%, seemed like a good sign it is being pumped.  Next, I look at the trade history for when was the last upswing and if the current upswing is exponential or not.  The last thin I look at is the buy/sell list and how many coins are being sold for what price.  If all seems to be good I will buy then immediately list for a smaller profit.  A couple times I bought out all the lower priced coins if there were a couple listed at a low price that were selling only a couple coins.  I did have some coins that ended up being losses but overall it is still turning out as profit.

I'm really trying my best to stay patient and steady.  Even if I start getting more BTC to trade with, I am sticking to making small .01 to .02 purchases cause that is what seems to have worked the last couple days.

I hadn't considered that now alts are almost all rising quickly, so I am trying to monitor the market to see when this bull run slows down and try to adjust based on that.  When it starts to slow down, it looks like I won't be able to make multiple buy/sell orders throughout the day as easily.

Wow that was nice profit even you have small amount of capital, just continue the good work and i am sure you will be rich someday. And just remember do not be greedy to buy some altcoin because most of them are scam.
I am new in trading but i learn lots of this before i got started because i only have limited capital i just wanna be sure that i will get good income.

That's an wrong understanding, trading has got complications. But, the end result depends upon the skills of the user as well the willingness to take risk. I personally believe, profiting through day trading or trading is possible when you have the patience to earn. Invest today and get the fruit out of it won't happy in a short however professional the user might be.

Don't want to burst your bubble, but the last days have been bullish overal (the markets has been going up). Anyone made money during these days/weeks and you getting to 0.3 BTC is nothing extraordinary. If you managed to make the same money in a bear market, I would salute you, but the fact that you made that gain during a bull market doesn't mean much. My personal advice would be to put about 2 to 4% of your portfolio on each trading position. That way you'll have much more chances to mess up, and eventually if your strategy does prove to be good, you will make in the long term more money than you will lose. Don't want to discourage you as already mentioned, but I'm curious how you will perform when the entire market see's a bloody day.

I think it will be harder to make some bad decisions in the short term future because everything will grow now. It's just a matter of how much it will grow, and not necessarily if it will grow (if we're talking about respected projects).
It's certainly not easy when you'll see 50-90% drops in your portfolio, that is the time you need to prepare for.

Nevertheless, well done on your first 3 days!

These days are really profitable, but before them was not so easy (september was a really difficult month). Hope you're enjoying your gains anyway!

Congratulations on doing well so far. One thing to be aware of is that it is easy to keep your emotions out of it when you are dealing only with small amounts. The more you scale up, the more your emotions come into play. If you bet 0.01 BTC on a trade and  you start to lose it is easy to wait until it turns into a gain... but not so easy if you are betting 10 btc and it starts to dip... the fear and panic is so much greater and you will want to limit your losses rather than ride it out, so just be aware of that effect.

You're just lucky man not all the day traders are having the same fate as yours, keep up the good job and keep on learning while you are the top of your day trading experience. But don't get high much so that you won't be hurt when something goes wrong with your trades. Just remember that don't be too greedy so that you can take profits properly. Your gain is totally impressive just for an amateur.


I never did have an experience like that for having that gain when I was quite new to day trading.

Definitely! If you lose, you will learn more in what aspect you need to develop but congrats to OP for gaining some profit in his first three days of trading. Just always remember to not be greedy and have a trading plan because if you really want to be profitable on the long run then you need to learn to be consistent. If you don't have a plan, there is a tendency for you to be persuaded by your emotions. Just aim for realistic profits because you may be lucky to profit 50% in a day but there is a possibility you will lose it the next day. Consistency is the key. There are some day traders that I know only aim for 1% a day.

Welcome to trading and grats on your efforts

Always diversify your Portfolio and try to kepp your bag hold as low as possible. Get your emotions out and Keep on doing your homework, and you will stay successful.

Daytrading is fun and exciting! The problem is after some time you feel like you have to be day and night trading ;-).

You did good, but you will only start learning to trade after you LOSE some money. 

I would suggest on trading on a bigger exchange and don't touch the pump and dump coins

I am not much into day trading I have personally followed several strategy finally I found the hard truth is day trade is like gambling or buying lottery ticket . It’s completely my experience I am not universalising. But it is what I found in day trading I completely stopped doing that.

This is good for practice purposes, but i recomend delving further to better strategies like dip buying scalping and swing trading low caps. Day trading is not as profitable for alt markets and it is for forex or stocks. This is a different Beast, unless your doing this on BTC and even bTC have quiet days, or choopy ones where you could lose all your previus gains quickly. Stoch RSI is a good momentum indicator and easy to understand. Also look for FIbonacci Retracements , and the Basics of Support and Resistance levels, and Trendlines. With all of this you will have a better guess of where you at  and make your own charts!

be patient in taking action is the key to victory .. although you as a beginner, as long as you can do it quietly it is sure luck will be on your side .. and do not hesitate to inquire about anything in this forum. all the answers to the questions you make will be answered ...

you‘ve done a great job and welcome to the cryptocurrency world!

You did good job mate. Only first 3 days you gain 50% profit of your capital. Its amazing.
See how your strategy work, i think its good strategy. You need only just consistent with that.
To be discipline is also very important.