Bitcoin Forum

Currently new to the Bitcoin/alt coin world. Want To know best practices for day trading, and any altcoins that are in paticularly good for day trading??.

Cheers 8)

Browse through the Trading Discussion forums. There has been numerous posts with the same topics as this.

Any advice for altcoin day trading?: https://bitcointalk.org/index.php?topic=1412001.0
share your tips trading altcoin?: https://bitcointalk.org/index.php?topic=948668.0
Altcoin Daytrading: https://bitcointalk.org/index.php?topic=408787.0
Trading Tips On Day Trading and Shorts?: https://bitcointalk.org/index.php?topic=1978971.0

if might be helpful, you can start with coinmarketcap.com and choose the top 10 volume. I think it would be better than other coins that have a crazy volatility. the top 10 currently is like Eth, doge, or liteCoin

My advice is to trade altcoins on fundamental analysis, instead of technical analysis ( get best of both worlds if possible ) meaning focus on the technology and features of the altcoin, along with recent news/software updates.

Picking from top volumes is a good start, but i think the markets is most predictable in times of news.

a good example is the SEC decision on the Winklevoss BTC product. The price acted as most people would expect, more so on the definite 'No' than before the decision was made.

Be sure to subscribe for updates for the coins you find interesting, and be ready to act on significant news :)

Best of luck on your trading adventures.

Regards,

Welcome aboard mate. Before beginning your journey in day trading, you must assess yourself first. Ask these questions to yourself:

• Do I have the foundation and basic knowledge of trading?
• Do I have the guts to day trade this very volatile market?
• What's my risk-level as a trader?
• What is my goal in day trading?

Please take note that these are only simple questions and many forum members here could provide you better ideas regarding day trading. These should help you to start your humble beginning as a day trader. Best of luck mate.  ;D

Very nice question which would really be good to ask on oneself before deciding to engage on day trading.We do know most people would say here that day trading is profitable but without knowing the risk you would surely lose up money if you do jump without any proper knowledge and skills.This is why we should make sure steps before engaging and im sure it would be tough on the very first place.

NMC and PPC were great on BTC-e, but since WEX started up it has been painfully slow for alts :'(

My tips: I would start slowly (perhaps trading chunks of 10k satoshi) for a week or two, and use mostly the most well known altcoins (ETH, LTC, DOGE, XMR). What you get from that practice weeks is an idea of when those alts are low or high. Yes, you can get that info by looking at historic charts... but it is not the same. When you are in with some money, you get a sense of when an altcoin is cheap or expensive better.

Once you do that, put buying orders so that you know you'll get the altcoins at a good price, but that reasonable at the same time (too cheap and they won't fill). Sell at a guess for the top price for the day, but a little lower so that the sale order fills. Sometimes it helps to see the max and min of the day to get an idea of that.

Top 10 altcoins in coinmarketcap is a big help that would help in choosing a profitable coin. Eth, waves, and dogecoin are profitable even holding for a long term.

You can use try the demo option like in www.iqoption.com they had a demo option that you can use as your free trial and try your self to learn slowly with some tips by the others..
The basic thing in trading is to buy low and sell them high if you buy altcoin for a cheap price you should sell them in profitable price..
but not all altcoin can be increase and gives your profit it will be still depends in the trends demand and supply.
coinmarketcap.com is good place where you can see the rankings of altcoins and the best altcoin to choose.. mostly a good altcoin are in top 20 altcoin..

Different people have different strategies so it is very hard to suggest any particular strategy for day trading because it may not match with your risk taking capability. I mostly arbitrage in crypto market. Arbitrage means buying from one place and selling it on another place within a very short period of time. A I do it mostly with ETH and not bitcoin. Because ETH transactions are mostly instant and it is easy to move from one exchange to another. So that's my strategy and recommendation.

I would like to start it day by day and use the most well known altcoins (ETH, Waves, OMG, TFL,AVT) etc.
I like to trad with Ethereum platform. because it's very easy to transaction in altcoin.
Coin marketcap is a big help that would help in choosing a profitable coin.
First i would check the altcoin history then i will trading it.

HODL my altcoins now,
They are falling but I dont like sorting so I dont do sorting ,
Just watching.

Almost no altcoin trading now,... I bought some ripple already.
Just almost stop altcoin trading, no big moves.

Waiting for next buying moment,.... Keeping the Bitcoin but not sure with usdt, whether to btc or stand by

Looks like DeepOnion is a good altcoin to invest in, to trade daily it may work but is better for a short term hold.

Day trading is good way to make more money. Try to search many teachniques in youtube to earn big amount of money. I always do trading and I can conclude it as one of the profitable ways.

If you are a newbie with trading, then try to read some books, if you have some experience on the forex market, then it would be more easier for you, since trading with altcoins is a little bit more easier than forex.
Try to read some guides too and view some videos, they will help you a lot. I have started altcoin trading without any previous knowledge, only that i used to trade forex before.
Create an account on poloniex or bittrex and start trading there, those are the most simplest websites for doing it

you have good plan to do day trading, you need to pick the coins with research the red zone of each coins. analyze the coins, determine how much price you want to buy by reading some books or tutorial, see the chart if its still down or to go up. make sure you only small satoshi to test for at least a week to know how good you can control your emotion because today the market it seems too volatile so be careful. read more about trading to increase your skill and try to keep practice.

I started out as a day trader but eventually I turned into mid and sometimes holding coins longer than I plan because there are times after I buy the altcoin and plan to sell at 5% profit, the price go down and didn't go back to at least give me a small profit, so instead of selling it within the day, I'll hold it till I earn at least a profit. if you plan to be a day trader, don't invest in 1 coin only because if you are trapped with 1 coin, then you need to wait until you earned something from it. It better if you set a side funds for day trading and for long term trading. Lastly learn to observe first and research about the coin before you buy.

Alt coins for day trading always change within the time, but the safest is to trade the top 5 or top 10, but if you want the most profitable you need to find the trend or hot coin, but you cant always make money with day trading, I prefer to trade once in a while when the chances to make profit is big

I made the same evolution as you. Day trading can be very hard and tiring. I don't recommend it to someone who's just starting out like op. Buying and holding mid to long term is always a good option if it is a trusted and respected altcoin. If you start daytrading you will feel like you have to force trades and forcing trades doesn't work. It may work a few times but it's not sustainable.

Day trading is very risky  if you don't have experience in technical analysis. Personally, I am holding 90 percent for a long term  to avoid Panic Selling. I suggest to hold the TOP coinmarketcap coins.

I tried day trading but then I change from one coin to another because I cannot trade the coin that is lower than my buying price and wait for it to rise again.  If you want to day trade be sure to have lots of spare to buy when the moment it drops and so that you can buy different coin to start trade.

Whenever Day trading always chose a coin with high swings in past weeks.
It's never a loss until you sell at loss. May be in Last weeks of October we will be launching our Project officially.We have been effectively trading with straddle tactics since past 3 years and have raised Millions of profits onto our Growth. Currently we are consulting various economists and jotting their views on sustainability of our model.

My advice to you is very simple, first of all take a look at all the cryptocurrencies available in the market and find the one with a great trading volume. Search for the reason of these coins whether it is any technological differences make them attracted to the users or any other.
Do not directly jump for any trade, before you go for trading increase your knowledge about the cryptocurrency by reading technical things about it. Once you are enlightened with the crypto knowledge you will be a successful trader.

Top 60 is even too much for day trading. The most important thing is to understand each of the coin in your portfolio and whether they are a good market with a lot of opportunities. This still does not mean there won't be some disappointments but once you are good at some market, and you can easily predict their pattern, it is far better than gambling across different or too much altcoins altogether.

different types of trading suit different personalities
day trading in its essence is trading every day and done by very well planned investors that you compete against (good if ur are very analytical)


What type of trader r u

http://www.investopedia.com/articles/investing/052413/what-type-trader-are-you.asp


from here it is easier to plan your mistakes and profit from your skills




There are a host of other strategies to consider, and with just a little research you may be able to find a strategy that is a perfect fit for you.

http://www.investopedia.com/articles/active-trading/11/four-types-of-active-traders.asp

Well you are a newbie here in this forum and in bitcoin trading too, then i would i recommend you to read various threads on day trading topic and investment topic provided on this forum. Second i would suggest you to read the trading sections and posts, on big websites like coindesk, cointelegraph, bitcoin.com, bitcoin.org which are some big renowned trading information websites. Try to follow some professional trader idea's and tricks who are available in this forum and whose strategy is doing good in bitcoin trading, but be careful while following someone see that he is a professional with positive marks on his profile id and not negative marks. This way you can start a safe day trading and modify it once you gain enough experienced .

This is definitely NOT a good idea.
If you could make it work, then kudos.
Why would anyone be greedy for a more volatile form of trading in an already very volatile type of market?
If i learned anything from trading btc, trading it excessive will just result in you losing your money.

If you want to trade daily you should find the best coins to do it. Many coins move well inside the day. Try to find a screener. But for sure you need a good trading strategy.