Topic: What is the first rule of daily trading in your opinion? - page 8. (Read 3602 times)
I advise patient as the first daily and all rule to trading. That is to say; with patients you won't hastily rush into the market without researching all necessary things you need to do just because you see a tricky light or position and you want to quickly 'grab' some profit - which could mean stocking and regretting .
Let's see what you think Guys.
I can't specifically say what is the #1 rule but the most important things to my mind are:
1. Do your homework - research & chart analysis
2. Diversify your portfolio - also trade by USDT
3. Never panic!
4. Only invest what you can afford to lose.
1. Do your homework - research & chart analysis
2. Diversify your portfolio - also trade by USDT
3. Never panic!
4. Only invest what you can afford to lose.
My first rule of daily trading is simply don't do it at all.
It truly is not a good idea doing day trading, I don't day trade, and will not advise anybody to do so.
If you are not smart, you can't gain it, so, it's better you arrange well watch the market chart and know when it will be favorable for you to trade.
First thing is make yourself prepared for anything and then never expect the profit to be got overnight or within certain time period. It happens gradually, have patience. One thing in specific always have an alternative plan. If things didn't happen as predicted try with the alternative plan to lower the loss.
Let's see what you think Guys.
For me my rules is:
First - i invest the amount which i can afford to lose
Second - search for the coin which has a good project and potential to increase its value
Third - after i pick coins i will buy it for lower price and set the sell order to the value i know that i can gain profit or sell it for higher price
Forth - do not panic, give more trust to the coin that you buy.
Fifth - aim profit, i always control my emotion to avoid Forth rule.
Hoping it will helps:
First - i invest the amount which i can afford to lose
Second - search for the coin which has a good project and potential to increase its value
Third - after i pick coins i will buy it for lower price and set the sell order to the value i know that i can gain profit or sell it for higher price
Forth - do not panic, give more trust to the coin that you buy.
Fifth - aim profit, i always control my emotion to avoid Forth rule.
Hoping it will helps:
I start trading at the end of 2016, learning a lot, but emotion every time, opportunity always goes back to market.. i start realize something this few months, i should rearrange all my thinking, my mistakes in trading, control to be a success trader, even i do it part time only.
1st rule for daily trading is research!
Stay Happy!! your trading will profit all the time~ cheers
1st rule for daily trading is research!
Stay Happy!! your trading will profit all the time~ cheers
For me, the first rule when doing trading is that, accept to yourself that this investment is very risky. Knowing that trading Bitcoin is risky, you should have the capital that you can afford to lose when something bad happens. You should know your risk appetite when trading Bitcoin. The good thing is that, there so many investors tried this Bitcoin and now, this is wordly known. So, no need to worry about. In fact, Bitcoin now is going higher. 
The first rule of daily trading for me is risk what only you can afford for.Because the market is not stable and save the others if you lose for the trade.Dont allow everything yluve got to trade because who knows someday the value that you've been holding is 3x higher at first of youre trading.
Let's see what you think Guys.
the first rule for me is we need to have patience and learning about how to analyze the charts. with patience we can do analyze the coins with clearly thinking so we can choose the right coins. but once we loss our patience, we can analyze the coins and can makes us to make mistake and finally we can not makes profit. beside that, after we buy the coins, we need to determine how much profit that we want to get because we don't have to expecting to reach big profit if we need to waiting for a longer time.
Let's see what you think Guys.
For me till now not understand how to do daily trading it is true, in my experience myself to time tried and failed so it is very risk to do trading without proper guidance nothing is impossible and we are ready to risk we can do boldly with daily trading when you have no fear of loosing your money you will get more confident and most of people win with this attitude and smartness only this his my experience and opinion of mine about daily trading.
I follow my rules religiously in any type of trading but my number one rule is no emotions. If i lose a trade i just move on, having my own spreadsheet helps me a lot because I can see how many winning and losing trades i have in a month. I also follow my stop loss and target price. Diversify, its rare that i put all my bitcoin in one trade. I know it's three rules but those three rules are for me all number one.
I think you should follow the available coin behind and supply of it. Don't wait for big profit at a time. Trading with minimum profit is a important side for a day trader especially.
In my opinion the first rule is always thinking twice before buy some altcoin and do not greedy. I been 3 years in trading forex but until now can not reach consisten profit because trading not only about knowlegde and strategy in teknikal or fundamental but the important think is always patient and do not greedy.
My first rule of daily trading is simply don't do it at all.
Aaay. I personally follow this rule aswell as I suck bigtime at day trading.
I wouldn't just jump into conclusions and quit immediately though, if I were to be OP. Give day trading a try. Deposit only a small amount of bitcoin (probably 5% of your total bankroll?) and play with that small amount on the markets. If you actually ended up looking at charts and patterns and stuff, and atleast made a decent profit, then stick with it. Let's see what you think Guys.
Be prepare for the lost, no matter how good you think you are there are always chances that you slipped and makes the wrong move, and analyze everything with cool headed, dont panic and observe each situation before trade, and the most important, dont force to trade if the condition is not good
Some people who slip by trade are those who panic with the trade they are doing,. undercooked analysis and uncontrolled emotion is one of the effects of the occurrence of their fall / loss from the trading of bitcoin or altcoin stocks,,. trading sounds easy but all require the right experience and analysis so that we can have the success of every trade..
Some rules may not suitable always. The basic rule: Buy low sell high. You should also check the news as the low value coin might crash more. You should always read the news if you are trading.
Let's see what you think Guys.
Let's see what you think Guys.
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