Tips and tricks for day trading - page 2.

nhaila

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Quote from: midori_samitto on March 22, 2022, 09:59:48 AM

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.
I want to understand strategies, websites, people to follow for doing shot term investments.

• Could you explain to me a good strategy?

• Which websites are the best for analysis?

• Who should I follow on Twitter or Reddit to read about their analysis and predictions?

Thank you for your time,
Samitto.

Hey guys you can get trading tips and tricks for better trading in cryptocurrencies magazines, journals. You can get trading tips from different YouTube channel and telegram groups and channels.

Silberman

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Quote from: bitgolden on April 01, 2022, 09:14:48 AM

Quote from: Silberman on March 30, 2022, 12:58:00 PM

This is an important point that is almost never brought up, when it comes to other professions people talk about how much they liked it or the burning passion they had for an activity similar to it so they choose that career path, and yet when it comes to trading almost everyone always say they are here for the money and nothing else, and while that is not wrong it is obvious such people are at a huge disadvantage against those that actually like trading, as those people will dedicate way more time to refine their strategies and will have greater chances of becoming successful in this market.

This is the main topic here, people do not see it as a job, they see it as a way to get rich. You do not become a junior copywriter so you could be rich, you do not become a painter so you could be rich. It would be great if your life takes you to wealth of course, who would say no to that but people work at jobs because they need the salary and that salary is most of the time not big at all.

Instead, they go to trading and hope that their few hundred or few thousand dollars could become hundreds of thousands of dollars where they could get super rich. I am sorry but that won't happen, this is a job just like any other job in the world and you get what you are capable of. So, just getting whatever tips and tricks from web or from your mentor or friend who is into trading for years, may not work all the times as success in trading needs equal luck as per your skill set.

Correct, the false expectations that newbies have is what causes them to lose their money in the first place, if someone comes to the market with expectations of making on average 20% profits per year then that person could get that by just holding, if he wanted a little bit more then he could get it by making a few trades here and there, however the one that wants to multiply their money hundreds of times will never get what they want as the risks they will need to incur are so high that they will fall victims of all kind of scams in the process.

awik p

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Quote from: palle11 on April 02, 2022, 08:15:33 AM

Quote from: Wind_FURY on April 02, 2022, 03:26:15 AM

I'm not an "active trader" or a day trader, but there might be a "counter-counter strategy" against the whales' "stop-loss hunt counter strategy" for the plebs' use of the "stop-loss as a strategy". It's for plebs to make their trades smaller, and stop losses wider. OR simply, buy the DIP and HODL. Cool

If you make your stoploss wider then there are chances that the price eventually hit your stoploss that you have made too wider hoping it won't get there but it gets there and take you out thereby you lose huge. If you set a far stop loss and it hit it, you are losing a lot of money than using a minimal sl so that you don't lose so much of capital.

I think the use of stoploss also uses careful calculations, so that this will be in accordance with the desired RR. stoploss too close is also not good, especially too far with a narrow target. Of course this is not profitable. I think we have to decide which time frame to use, so that it can be seen that support and resistance are formed. that way we can calculate the RR whether it is profitable or not to trade. the higher the time frame will usually have a greater stoploss tolerance, but we will also get a profit at least according to the risk, or even more. like that's the theory that I know in trading, if we choose trading instead of the way that has been mentioned op

palle11

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Quote from: Wind_FURY on April 02, 2022, 03:26:15 AM

I'm not an "active trader" or a day trader, but there might be a "counter-counter strategy" against the whales' "stop-loss hunt counter strategy" for the plebs' use of the "stop-loss as a strategy". It's for plebs to make their trades smaller, and stop losses wider. OR simply, buy the DIP and HODL. Cool

If you make your stoploss wider then there are chances that the price eventually hit your stoploss that you have made too wider hoping it won't get there but it gets there and take you out thereby you lose huge. If you set a far stop loss and it hit it, you are losing a lot of money than using a minimal sl so that you don't lose so much of capital.

Wind_FURY

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Quote from: barbara44 on April 01, 2022, 04:19:55 PM

Quote from: palle11 on April 01, 2022, 11:25:08 AM

Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience Grin

depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out.

The counter strategy is to liquidate all those stop losses when you drop the price and then accumulate from there. So, let's assume you have seen plenty of orders at around 40k, there is a big big wall there, you could use this to your advantage, get a lot of it until there, and then you could put your back against that 40k wall and then go higher.

Instead of going from let's say 45k to 50k, it is easier for the smart people to do 40k first then to 50k in that situation. This is of course to liquidate the stop losses and make a bigger profit. That is the counter-strategy people use, it is also used in leverage trading to liquidate other sides positions and take it from them.

I'm not an "active trader" or a day trader, but there might be a "counter-counter strategy" against the whales' "stop-loss hunt counter strategy" for the plebs' use of the "stop-loss as a strategy". It's for plebs to make their trades smaller, and stop losses wider. OR simply, buy the DIP and HODL. Cool

Cookdata

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Quote from: xmonkeyx on March 25, 2022, 09:12:43 AM

many tips and tricks for day trading but very difficult to apply in trading, I think any tips we learn must be consistent to apply them, because what happens in day trading is a lot different from what we have learned, price movements that are too fast make trips and tips that we learn we can not apply optimally.
Whatever the tips and tricks, as traders, you just need to be consistent in applying them and take the time to add experience to the daily trading experience that we do.

One can only learn basic things when you want to start a journey in trading but reality they say is different from fiction, what happens in screen are mostly different from what you see in the market. There are number of things you will see when you begin to learn trading but as soon as you start real trading, you notice they are just different.
There was a time I wanted going long with $100 with Fantom, popularly FTM, you will think I have a bad luck in trading as that was the exact day some of the founders wanted to live the project and concentrate on another things, now tell me who will teach you these uncertainties.
You can learn trading but ideally, the basics are what you need, like fibonaci, stop loss, support and resistance, trend lines and lastly look out for wash trading pairs of coin.

ningrum

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Quote from: Sir Legend on April 01, 2022, 11:14:15 PM

The most important thing when we trade daily is to have a clear goal, namely the profit target that we get, for example is 15%, if we already get a 15% profit then we have to sell immediately because the market always changes unexpectedly, when we continue to hold then there is no guarantee it will continue to profit and most of us are impatient when we see prices fall so we panic too quickly and immediately sell at a loss.

Although it looks trivial but I think it is very important to set a target at the beginning,
because in many cases when they have made a profit they are still greedy and continue to hold it until they finally go down and lose,
the crypto market is really hard to predict and it's better to take profit gradually

Sir Legend

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The most important thing when we trade daily is to have a clear goal, namely the profit target that we get, for example is 15%, if we already get a 15% profit then we have to sell immediately because the market always changes unexpectedly, when we continue to hold then there is no guarantee it will continue to profit and most of us are impatient when we see prices fall so we panic too quickly and immediately sell at a loss.

barbara44

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Quote from: palle11 on April 01, 2022, 11:25:08 AM

Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience Grin

depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out.

The counter strategy is to liquidate all those stop losses when you drop the price and then accumulate from there. So, let's assume you have seen plenty of orders at around 40k, there is a big big wall there, you could use this to your advantage, get a lot of it until there, and then you could put your back against that 40k wall and then go higher.

Instead of going from let's say 45k to 50k, it is easier for the smart people to do 40k first then to 50k in that situation. This is of course to liquidate the stop losses and make a bigger profit. That is the counter-strategy people use, it is also used in leverage trading to liquidate other sides positions and take it from them.

palle11

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Quote from: Wind_FURY on April 01, 2022, 05:17:55 AM

Quote from: palle11 on March 31, 2022, 04:30:23 PM

Quote from: ReiMomo on March 30, 2022, 02:50:22 PM

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it.

Stop-losses should truly be part of a pleb's strategy to minimize loss, BUT the best traders also know that plebs like us have learned to use the stop-loss. The best traders are using a counter-strategy for it called, Stop-loss Hunting. Next time, if you experience being liquidated, or your position closed because a stop-loss was activated before a big surge causing you to miss the trade, then you have just been a victim of the stop-loss hunt. Cool

Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience Grin

depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out.

bitgolden

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Quote from: Silberman on March 30, 2022, 12:58:00 PM

This is an important point that is almost never brought up, when it comes to other professions people talk about how much they liked it or the burning passion they had for an activity similar to it so they choose that career path, and yet when it comes to trading almost everyone always say they are here for the money and nothing else, and while that is not wrong it is obvious such people are at a huge disadvantage against those that actually like trading, as those people will dedicate way more time to refine their strategies and will have greater chances of becoming successful in this market.

This is the main topic here, people do not see it as a job, they see it as a way to get rich. You do not become a junior copywriter so you could be rich, you do not become a painter so you could be rich. It would be great if your life takes you to wealth of course, who would say no to that but people work at jobs because they need the salary and that salary is most of the time not big at all.

Instead, they go to trading and hope that their few hundred or few thousand dollars could become hundreds of thousands of dollars where they could get super rich. I am sorry but that won't happen, this is a job just like any other job in the world and you get what you are capable of. So, just getting whatever tips and tricks from web or from your mentor or friend who is into trading for years, may not work all the times as success in trading needs equal luck as per your skill set.

Wind_FURY

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Quote from: palle11 on March 31, 2022, 04:30:23 PM

Quote from: ReiMomo on March 30, 2022, 02:50:22 PM

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it.

Stop-losses should truly be part of a pleb's strategy to minimize loss, BUT the best traders also know that plebs like us have learned to use the stop-loss. The best traders are using a counter-strategy for it called, Stop-loss Hunting. Next time, if you experience being liquidated, or your position closed because a stop-loss was activated before a big surge causing you to miss the trade, then you have just been a victim of the stop-loss hunt. Cool

adzino

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Quote from: midori_samitto on March 22, 2022, 09:59:48 AM

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.
I want to understand strategies, websites, people to follow for doing shot term investments.

• Could you explain to me a good strategy?

• Which websites are the best for analysis?

• Who should I follow on Twitter or Reddit to read about their analysis and predictions?

Thank you for your time,
Samitto.

Since you are a newbie, I would suggest you to learn more about crypto currencies and the trading risks associated with it.

1. Google and start learning about the strategies. But remember strategies never gives you guaranteed profit.

2. Like others suggested, trading view is good. You can also try cryptowatch which is fully crypto oriented.

3. Don't follow anyone on reddit or twitter for analysis or predictions. Most of them are paid to shill for different coins. Do your own research.

Lastly, invest only what you can afford to lose.

jossiel

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Quote from: ReiMomo on March 30, 2022, 02:50:22 PM

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

There's a higher chance that you may end up badly with day trading. But if someone is good to it then that's good but many seems to be not yet still trying hard.

Just do the typical way of trading and I agree, it could be weekly, monthly or longer until you make a profit. You don't have to be that much active and you can be an investor that makes profit on the times that you have to.

Well, that's what we think but the others don't think that they're good for long term so they choose to be how they can be effective in day trading.

palle11

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Quote from: ReiMomo on March 30, 2022, 02:50:22 PM

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it.

tygeade

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Quote from: Questat on March 29, 2022, 08:27:47 AM

Quote from: nurilham on March 28, 2022, 11:51:27 AM

There are several strategies in day trading and you can choose them according to your plan in the future and also convenience. To do day trading is a bit tiring because our focus will be divided and we also have to move quickly to make sure we get the right moment in a short time, even a matter of minutes. it will be a little troublesome for beginners but if indeed you are interested in trying it then that's good.

This will not be the behavior of a trade that wants to succeed. It needs passion and a sort of dedication. Pursuing a dream is not easy, time, effort, and we never have to feel tired or else, we only just fail. What I am trying to say is that we have to be strong and positive. We have to neglect/ignore negative things around us as this will be the reason for our failure.

- keep moving forward
- focus on the thing we need to accomplish
- must wear positivity in mind

The passion part is quite important. If you do not really "want" to trade, if the only reason you want to do this is to get rich right away and get out. Then you will only focus on how to make money part and you will fail. The real successful traders will always end up doing the best they could do in the trading world because they love doing it, not just for the money.

Of course the money part is very important but that doesn't mean that their only aim would be getting rich and stopping. Look at all those super rich traders, they did not stop when they got rich, maybe just a few. This means you need to learn and love doing this to become a good one.

Ararbermas

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Quote from: midori_samitto on March 22, 2022, 09:59:48 AM

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.
I want to understand strategies, websites, people to follow for doing shot term investments.

Just start on basics mate, if you really want to learn more about trading. And when it comes choosing people to follow, i suggest make research in youtube and ignore those influencer whose spreading click bait. Try " joel on crypto" because he is legit.

Quote from: midori_samitto on March 22, 2022, 09:59:48 AM

• Could you explain to me a good strategy?

There's a lot of good strategies to be honest, for example scalping, patterns, swing and so on.

If you want to know which is more effective and can give you good win rate, try to learn it by back testing or create demo account instead to practice each strategy.

Quote from: midori_samitto on March 22, 2022, 09:59:48 AM

Hi everyone

• Which websites are the best for analysis?

Trading view is always the best platform to analyse the market because all the most important tools are already in it.

Quote from: midori_samitto on March 22, 2022, 09:59:48 AM

• Who should I follow on Twitter or Reddit to read about their analysis and predictions?

Thank you for your time,
Samitto.

yes, that's a good idea because you can get some information as well how they analyse the market and etc..

Wind_FURY

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Quote from: ReiMomo on March 30, 2022, 02:50:22 PM

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Or just HODL. Bitcoin is no mere financial hedge. It's censorship-resistant, self-sovereign hard money that I believe will be very useful as a hedge against the cabal behind the Federal Reserve. Everyone who wants the freedom to transact will definitely need Bitcoin under a CBDC system.

I am also confident that the CBDC system WILL make Bitcoin more valuable, not only for the individual, but also for institutions and governments as well.

ReiMomo

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Duelbits - $100k Bonus/week

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Silberman

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Activity: 2534

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Quote from: Questat on March 29, 2022, 08:27:47 AM

Quote from: nurilham on March 28, 2022, 11:51:27 AM

There are several strategies in day trading and you can choose them according to your plan in the future and also convenience. To do day trading is a bit tiring because our focus will be divided and we also have to move quickly to make sure we get the right moment in a short time, even a matter of minutes. it will be a little troublesome for beginners but if indeed you are interested in trying it then that's good.

This will not be the behavior of a trade that wants to succeed. It needs passion and a sort of dedication. Pursuing a dream is not easy, time, effort, and we never have to feel tired or else, we only just fail. What I am trying to say is that we have to be strong and positive. We have to neglect/ignore negative things around us as this will be the reason for our failure.

- keep moving forward
- focus on the thing we need to accomplish
- must wear positivity in mind

This is an important point that is almost never brought up, when it comes to other professions people talk about how much they liked it or the burning passion they had for an activity similar to it so they choose that career path, and yet when it comes to trading almost everyone always say they are here for the money and nothing else, and while that is not wrong it is obvious such people are at a huge disadvantage against those that actually like trading, as those people will dedicate way more time to refine their strategies and will have greater chances of becoming successful in this market.

Topic: Tips and tricks for day trading - page 2. (Read 770 times)