Topic: Short term traders should read this (Read 591 times)

Well most on the list should already be common sense for daytraders though i doubt that everyone of them would be following it by heart. It can get quite difficult especially in this state of the market to go day trading and chances of losses are.probably higher than chances of profit. And for me i don't think a 5-10% profit would be well worth the risk

Definitely, short term traders will get very less profit and sometimes will result in loss if the selling process made without monitoring the market while the market value is low. Short term trading is not so important if you are involving and have involved in trading then you must follow the guiding principles and to go for a little long term in order to give time to the market to recover its value and make you able to get profit.

I feel you have been in crypto investment  for a long time cause such ideas couldn't be created by a newly one.  Anyways,  such tips are very useful and it could help people from keeping them away from losing to much.  
That's right,  we don't need to be greedy and we must have to learn knowing a word "Enough". I'm also a short term trader and I am just having only 3 coins to check  everyday and having profit in week or a in month.

I agree, it is very risky now but some traders really want to do it in a short term because they know that they can be profited in a short term because once the market goes up then they will immediately sell it especially if they put huge money in it. Most traders should still be careful from trading because as what you've said it is volatile so it is very risky now.

Definitely, by the term itself short means only enough profit we can actually get from what we invested. Well, what is good in short term is that its so much challenging because we face different problems like sudden movement of the crypto. The perfect idea is to really have a better plan in every action that we make to avoid big errors.

Traders doing with short term is not so profitable and if look into situations and caste better opportunities with making the trading a little bit for long term will result in profit. On the other hand an experience less person will get nothing or a very less product and sometimes faces loss. In order to avoid such errors trading with a good quality coin and the right decisions will make you safe.

a good strategy is to be applied. many people start investing altcoin but without having the basic strategy and finally only be a burden for him. D points should be emphasized strongly because I think it's important. provide capital to a variety of altcoin is a good step to be able to anticipate good if there is a value that goes up or downgrades.

Indeed, thought will get different and various information regarding short-term trade, but all of it is the same information that you can read in this forum repeatedly. However, it may inspire newbies to be careful about their trade decision.


Since you are BitHodler and seems like to hold bitcoin, a good decision for everyone who considers bitcoin is the only one, like you said, less stress to think about the loss instead of hold some coins but all of them crash due to bitcoin price fall down.
But, for people who aim altcoins due to the profits through volatility. For example, ethereum, bitcoin cash and ripple are some altcoins which generated profits for me, just buy in the dip and sell at the peak, but of course bitcoin is the most valuable coin in my wallet.

Good advice, because many people won't wait patiently to get their returns on the investment they made but we have to be very careful when dealing with the short term investment. Otherwise, we need to face some problem with your investment.

This. I would also add the following: Don't Panic.
If you make yourself a flow chart detailing all your contingency plans, then you will be able to act rationally even under the most intense pressures.

Yeah, it is indeed a very good strategy and an advice as well. So far, I have seen the rate at which altcoins are really having some pretty good fluctuations in the market and the uncertainty keeps growing even the more. I can see a lot of the altcoins bouncing though once the bitcoin market itself is showing some green light, but at this stage, it is quite difficult to trade without using the stop loss and trying to take the little you have been able to get.

I agree with point (A) and doing this has been very beneficial in the past for me. Many times I think I see a good buying opportunity and make a buy but then the price of that coin continues to drop. I learned to buy with only 25% (or less) of my bankroll. Then if the price drops lower, you’ll have at least 3 more opportunities to buy. This is leverage.

correct advice. not to be greedy. we have to retreat immediately when the targeted figure reaches. it is important not to use the entire investment in a single area.

Having the strategy above is really helpful to all users on how we can manage short term trades. The point that I like is being not greedy take profit a chances to earned at any circumstances. Also, not to invest in a single coin split into different coins for a good profitable portfolio.

Good guide, but add this ,as a short term trader you must know your entry and exit point and it must be base on the daily low and high price. Setting your exit trade far from the daily high price means you are setting yourself for holding but not trading.

this is a great strategy for short-term trading, and thank you for sharing your knowledge. although I am not a trader, but have a desire to become a trader. this is very useful especially for beginners, because to be a trader, we must have the basics, in order to get the benefits as expected. plan and separate your money, it's also a good thing, to avoid big losses.

Good advice. Though I think most trader are already aware about some of your point, I always think emotions ruin the whole picture. I think setting up a goal or limitations in trading is a good way to lessen their own risk in trading specially in short term trading. The fact that bitcoin is more getting dips (long span) than upward movement (not staying in high prices), it is quite hard to predict when to sell and when to buy exactly. With proper planning, surely losses will be prevented as long as you stick to it.
Good luck to you as a trader and keep up the good work in sharing valuable ideas.

That's what profitable trading is mostly about. Proper risk management and keeping emotions and feelings out. No reaction to FUD or FOMO.
Furthermore the ultimate rule to follow always is: First, protect your money. Keep losses as low as possible.
Next rule: Any profit is a good profit, no matter what the size.
That's it.

Yes, I really agree with you, diversify will only create stress because it has a very different market. But if you just focus on one bitcoin or altcoin it will promise, we are not too focused to see some markets if you have traded in some places. Trading in bitcoin as such will be very promising if it has to know the market conditions. It would be a good thing if trading in bitcoin and its profits are invested in some altcoins for the long term.

thank you for the info from you but I have a question for you what if the current prices continue to decline and no news yet to ride whether it is fitting to buy what if my capital is less?

So it's not advices about earning money from cryptocurrency investing, it is advice how to control your feelings and how to do risk managment.
I think that if someone sees  that his feelings take control of his mind during investments then he should be stop with trading as it's the most dangerous thing that could be happened to him.
Trading should be done based on analyse only, involving 0 feelings.

Well said bro. The thing is that I hardly try to even trade altcoins when bitcoin is in a downtrend, whether in the short term or in the long run until there is a clear indication of it trying to make a move upward outside that trend. The altcoin market is somehow centered on bitcoin movement and this is one thing that one really need to take into consideration first before making any attempt to trade any of them.

Yes, people who have experience will make use of this dumps but people who don't have experience should better stay away from the market because within a fraction of second the price will change. So we have to be very accurate to keep sell order and buy order in order to make profits.

That is pretty much a very good advice right now, most especially when a lot of uncertainty is surrounding bitcoin and personally, I am holding just very few coins now until I see the trend fully changing.

Most of the altcoins are showing sign of recovery though and looking like they really want to bounce, but with the whole level of uncertainty in the market, it is a hard one to really gamble. Let's just see how things will be turning out pretty soon with bitcoin which seems to be knocking on lower doors.

these are mostly for altcoin trading and very little for bitcoin.

you can't give this as a general advice. someone may have $10 and what you say is true for them but someone else may have $10000 and this advice is terrible for them. it may be better for the second guy to invest little by little. in fact it is best to set multiple buy orders and buy slowly.
additionally when you talk about altcoins buying while they are dropping is very bad because their drops usually don't stop because it is a pump and DUMP.
and finally stop loss won't work for this market, specially if you place it at 3-5%. it is mandatory to use it but it is different here and each coin needs its own percentage.

again you can not generalize this either.
some shitcoins get pumped 200% in less than 6 hours. getting out at 5% is not being greedy it is called being unfamiliar with the market.
in some other cases some other shitcoins can't even be pumped 5% so not getting out is dumb!

this is vague at best.
what alts? what is cheap? just because some altcoin got dumped doesn't mean it is "cheap"...

i disagree with this completely. altcoins are not good for "portfolios" look at the market and see all of them in red right now that bitcoin is in red! some of them more than others.
dividing your money is not going to give you any benefits here.

Some good Advice for short term trader.It is easy to get 5-10% Profit in btc trading, because the fluctuation between 100- 500$ every day.
If you are greedy,you will lose some coins.When you find some crash in a market, use that valuable time to get huge bitcoin with less dollars.

Mature planning I agree with your word,short term trade does't need greed enough to take 3% or 5% profit.Short term trading should always be active in the market with confusion in it,thanks for creating this thread for all trade dude.

A. This is the most basic advice everyone should follow, especially with an extremely shaky market like bitcoin. For most newbies, they tend to overcommit into investing and placing all of their bankroll in a single coin, which is plain wrong. Diversification is still king these days even though it will give you a lot of things to look after.
B. This, I think depends highly on the situation. When there's still room for maximizing one's profits, they should take that opportunity or exploit whatever it is. Even a 1-3% additional gain is important nowadays, especially if it can be claimed safe.
C. I call this one 'liquid assets' since you can deploy them whenever you want them to be and you can move them at will without any hassle and/or whatnot.
D. Same point as letter A, though risk management also includes what coin are you holding and its present market conditions etc. etc.

I agree with point A, we need to split our money into one or more order buy and sell so we can have more money to buy if the price is down again.
point B, I think we can earn 5% with easy because I see from this month, the increase of the price is more than 5% and we can see there a lot of coins that could increase higher. point C, I agree with this so we can prepare for a market crash if this is happening so we can buy the coins at the lower price. point D, we need to diversify for many coins so we can have a chance to make a profit from many coins and for new people, I think it is better to hold under 10 coins in their account so they don't have to confuse to check for each coin.

Cryptocurrency markets are always volatile and have been since inception. The tips you provided are essential and every self-proclaimed trader has to have them all before trading, however, one very important thing is missing - Research. Most amateur traders depend on trade value to determine their trading, they don't look out for prospective 'innings' with alts, and therefore miss out on huge opportunities.

Tips are good but not always correct.
If I listen to that advice, I will often lose, because the price fluctuates more than that every day.
Greed does not necessarily mean a percentage of 5% or 15%, but not expected to rise much more than expected.
Good advice but with the crash of the price, the whole market is falling at the same pace.
The smart trader knows which currency will rise and can buy in large quantities and sell quickly to make the most gains

Well all the points that were raised should actually be pretty basic already. Day trades offer more risk to hodlers since you're exposed to a lot more volatility and market movement compared to simply holding your coins.

Such an awesome advised and your right it's very volatile this year compared to past years and your guide will help other trader to won't buy 100% of your money I always do this buy low buy only 25% of my savings going to bitcoin for my own investment and the other remaining I buy bitcoin when the price will decrease more. So that I could get the maximum profit when the price increases even just 5% to 15%.

Greediness is one of the reasons why other traders lose in trading and I think if you put your funds to other coins the result is the same because every time the price increases the other coins also increase this is just what I notice these days and there are sometimes coins that the price stuck. So staying in bitcoin could reduce the risk to lose in trading.

Very good trading advice for the newcomers, i would just add that you should not get emotional, dont attach to coin or token.
In the end 98 percent of current projects will fail, trade it while it goes

It is really useful for the short term traders. But most of the traders are already know this facts so it will help to beginners. But new traders are expecting promising platform so they don't find the 3 to 8 coin in first attempt. May this advice will useful for the future investors but I am not recommended to short term trading is more risky investment.

I agree with what you posted and that should be every traders mantra when trading specially letter B. Always plan your exit and stick to it. This is one reason why short term traders shifts to long term traders because even when they already hit their target and they felt that market is still bullish and might gain more profit, they still hold until they get a surprise of their life when everyone starts to dump.

It's actually just common sense.

I however don't like diversifying crypto assets since that only works against you in case things doesn't go to plan. People quite often think it's a must, but I don't see it like that and never done so.

You have to deal with all variables applying to different coins, because different coins means different markets and different background developments. Altcoins aren't fundamentally stable or well developed, so it's a risk.

Just having Bitcoin means less stress, less potentially negative variables, less severe corrections (they go up hard but also come down hard), and so forth. Chasing high returns has never been an option for me.

When investing, even if its short term or long term,  you should forget the one who makes everyone lose, the greedyness. The more you want to have money,  the more you regret it later on. Short term is most probably short earned so dont lose temper and be patient.

This post belongs to the "Trading discussion" forum board.I don`t have the mentality to conduct day trading.
Every time the altcoin and token prices go down I just freak out.
It`s a good list anyway.It would be helpful for the newbies.

I'd say this is really a good tip indeed. For most traders, your (B) options is the most important as far as I know. If traders don't exit in time and still thinks that they can still make profits, however, for unseen reasons the market suddenly shifts, I'm sure that you will hear them regretting their decision not exiting in time because they suffer losses. Also if I may one, if you have exit strategy, you might as well have entry strategy as well. Wait for the price to bottom before entering the market.

I tend to have only one favourite coin (bitcoin) which I hold and where I put the majority of my funds. I trade from time to time just for fun and small sums only. But if you are a day trader, I get it, you have to diversify. Even then trading 8 coins at the same time must be hard.

Although I am not a trader, they seem to me reasonable points. Have you had positive results for mid or long-term?

Thanks for sharing, useful indeed in order to survive with short term trade, learning those basic and creating good plans will make us our investment to grow, traders needs to understand that planning will work even in the short span of time, diversion and splitting your money is also a good thing to do avoiding bigger loses and being trapped if assessment goes wrong.

This is a really good strategy because it sounds very conservative. The only problem here, newbie like me usually don't know what coins to buy. Should I buy coin only at top 25 in coinmarketcap or something else?

It's a great advice, before entering the short term tarde you need to have the basic, if you don't really understand just aim for long term trading with a strong coin BTC or eth, the cutloss percentage for each coin is different, so do the research properly, and don't become panic if your trading analysis is not correct, don't do panic sell or spread any fud, follow some trading group to get some references

This is an advise cryptocurrencies traders especially short term traders.  Am certain it will be useful.

As market is Very Volatile now, I can recommend to do the following especially for short term traders!!
(A)When Buying coin don't enter with whole money at once, accumulate(Buy slowly as its going dip)and Always use stop Loss in your all trades(3-5% below the Buying zone)!!
(B) Dont be Greedy, Exit trade as you earn 5-10% profit!!!
(C)Its better to keep 20-35% free btc in case of market crash then you buy cheap alts in diiiip!!
(D) For the risk management Don't put all your funds in one coin!! Try to divide it depending on your portfolio amount!!Hold atleast (3-8coins)!!

Good Luck.