Topic: What is the first rule of daily trading in your opinion? (Read 3588 times)
I think that patience is always the thing that we need to think about when we decide to follow trading. You need to understand that without patience, you can only lose your money in trading. THe next thing you need to think about is your knowledge. You need to learn trading every time you have a chance because trading requires a huge knowledge and experience
the first rule of daily trading for me is never go with all in any conditions because I have a bad experience with all in my money and it takes too long for me to recover the money. even if I feel confident with the coin price, I am not going with all in because I know that in cryptocurrency, everything can be happen and if in this minute, we see the green line then in the next minute, the sign can also change into the red line and I don't want to make the same mistake like what I did in the past.
My first rule of daily trading this refers to trading as a business. Serious attitude, competent approach, risk management. It is important not to lose the budget, and not just to make a profit
The first rule of daily trading in my option is to think how will be me a profitable in this business, and what is the best opportunity to grab of when they’re a great chance to everyone is favorable to gain income.
The first you of trading is that you should not buy anything you dont understand. Before investing in any coin, you must reseach carefully. That's my advice for you
This! Research, Research, Research. With the advent of the internet, all the information is out there and available (especially in great places like this forum). It just requires time and patience to study up. Something which I'm doing feverishly
The first you of trading is that you should not buy anything you dont understand. Before investing in any coin, you must reseach carefully. That's my advice for you
To be active into day trading it is must to select the altcoins that shows regular price variations. This will let the user be active into buying and selling process gaining a small earning based on the investment. Furthermore when the user gains experience can widen the trade with different altcoins to bitcoin pairing rather than opting for usd.
being and having some discipline with your self is a good way also for being in a day trade yes you need to be updated but dont take too much time i mean dont take you full time here in day trade so it may you have some control with your emotions here in day trade
1. get your mental ready to afford to lose.
You need to be really careful when analyze. Better with studies tools like stochastic, RSI, etc.
you need to look how many supports which can stand against sell wall, how much it increases from last time, how much it decreases.
need to see how's the pattern from buying and selling charts.
but, the most important is actually you need to be whale to be able to influence the market or charts mover, like pump and dump group (this point is just bonus if you are)
You need to be really careful when analyze. Better with studies tools like stochastic, RSI, etc.
you need to look how many supports which can stand against sell wall, how much it increases from last time, how much it decreases.
need to see how's the pattern from buying and selling charts.
but, the most important is actually you need to be whale to be able to influence the market or charts mover, like pump and dump group (this point is just bonus if you are)
First you must learn to be calm and do not let you emotions take over, along with always getting updates. Whenever i do trading, i always make sure that i there are a lot of tools open so i can see the value of bitcoin in real time and the value of the altcoins that i want, so i can speculate, even if the value goes down or up, i always keep calm and try to be logical and at the same time, consider the feelings of people whenever there are FUDs and hypes.
The first rule I always keeping in my mind in trading is always :
"To protect my capital and profit."
This was discussed during the trading summit which I attended and I do agree and realize now. I always save me capital in trading what ever happens. WhenI am losing, I just cut lose and look for another good market. I do hold also for long term tokens but mostly are on top coin in coinmarketcap.
you never thought that creating an excitement by the desire to trade, we raise the price of coins that may not in their essence have good prices? I mean that the product that represent Which coins may not have a long-term perspective, but because traders generate demand, the coin rises in price. "To protect my capital and profit."
This was discussed during the trading summit which I attended and I do agree and realize now. I always save me capital in trading what ever happens. WhenI am losing, I just cut lose and look for another good market. I do hold also for long term tokens but mostly are on top coin in coinmarketcap.
Well I'am not a professional traders but i have some rules. So before you start trading you should have funds to be trade when you were ready in trading, do a background check and study in what happen next in your trading. The most important when you are trading is please be verified all of your exchanger account in able to withdraw your money at as the same time. it was happen to me, i put some money on exchanger to be able to trade but my account is not verified that is why i cannot take out all of my money. In short it was locked on my account. Read before doing something that is the best rule.
The first rule I always keeping in my mind in trading is always :
"To protect my capital and profit."
This was discussed during the trading summit which I attended and I do agree and realize now. I always save me capital in trading what ever happens. WhenI am losing, I just cut lose and look for another good market. I do hold also for long term tokens but mostly are on top coin in coinmarketcap.
"To protect my capital and profit."
This was discussed during the trading summit which I attended and I do agree and realize now. I always save me capital in trading what ever happens. WhenI am losing, I just cut lose and look for another good market. I do hold also for long term tokens but mostly are on top coin in coinmarketcap.
Let's see what you think Guys.
The possible we need to do is to set the want price to avoid wasting time in observing.
We have own way of trading, my friends said that we need to wait 3 or more months because there is a right time only need is to wait.
the first rule is you are must be ready for the risk in daily trading, you must be ready to los all your funds, therefore, never put all of your funds in daily trading, it will give you daily profit, but the tendency of your loss is increased if you want do that now, think again before doing that, moreover you have no experience about that.
Normally I'd say that trading follows the same rules no matter the period. But with crypto things are different, volatility even amongst the most recognised of them all, is even more pronounced... which makes Bitcoin a perfect commodity for daily trading I guess.
More than other periods, daily trading has a distinct flavour of gambling, so the golden rule has to be to trade with money you must expect to lose. In this case, fix a percentage of bankrolls for each daily trade and strictly adhere to stop loss and profit taking.
You're daily trading to close and realise profit/loss for the day, and start fresh the next.
More than other periods, daily trading has a distinct flavour of gambling, so the golden rule has to be to trade with money you must expect to lose. In this case, fix a percentage of bankrolls for each daily trade and strictly adhere to stop loss and profit taking.
You're daily trading to close and realise profit/loss for the day, and start fresh the next.
The first rule of daily trading in this my opinion are controlling emotions is the first rule before start trading if can't control this mean you may get losses in trading and to be active into day trading it is must to select the altcoin and that shows regular price variation furthermore when user gain the more experience in widen with the different trade altcoin to bitcoin paring rather then the opting For used in the to the trading.
Normally I'd say that trading follows the same rules no matter the period. But with crypto things are different, volatility even amongst the most recognised of them all, is even more pronounced... which makes Bitcoin a perfect commodity for daily trading I guess.
More than other periods, daily trading has a distinct flavour of gambling, so the golden rule has to be to trade with money you must expect to lose. In this case, fix a percentage of bankrolls for each daily trade and strictly adhere to stop loss and profit taking.
You're daily trading to close and realise profit/loss for the day, and start fresh the next.
More than other periods, daily trading has a distinct flavour of gambling, so the golden rule has to be to trade with money you must expect to lose. In this case, fix a percentage of bankrolls for each daily trade and strictly adhere to stop loss and profit taking.
You're daily trading to close and realise profit/loss for the day, and start fresh the next.
I believe that one of the things we must take into account is the study of the market, where we are getting ourselves and under what conditions we do it. From there we create our own strategies.
To be active into day trading it is must to select the altcoins that shows regular price variations. This will let the user be active into buying and selling process gaining a small earning based on the investment. Furthermore when the user gains experience can widen the trade with different altcoins to bitcoin pairing rather than opting for usd.
I'm not good at trading, and I'm normally better of leaving my coins alone, otherwise I will probably lose them. I think day trading is incredibly difficult because unless you are a big whale and can influence the market, there i not much you can do actually. I guess your goal is to try to catch a ride, but you don't know for sure you will get it. You can try winning small ticks of course, and you will probably do it well, but a whale comes in and you are caught in a swing that goes against you, and all your profit if gone, you can risk it and let it be, because after all it's all a cycle, but if you do that you are not really trading.
I guess you must have you entry and exit points well defined and stick to them, at the same time you pray that a big whale will not mess up your day. Besides that, I guess there is not much you can do.
I guess you must have you entry and exit points well defined and stick to them, at the same time you pray that a big whale will not mess up your day. Besides that, I guess there is not much you can do.
Well, the first is not going nuts, and this rule might be apply not only toward trading buisness, but for much more, never gone nuts, my friends!
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