Bitcoin Forum

I would like to know what research the full time day traders do before trading any particular coin? and what their trade entry and trading procedure is during the day?

Do you have a daily take profit target?

Do you go by a checklist before making a trade entry?

Do you Look at an exchange and make a trade entry on a coin going up by a certain percentage?

Do you mostly buy/sell your positions on the same day?

I know its a lot of questions and will generate different answers by different traders and probbably answered somewhere already, but this help would be extremely useful to a newbie like me.

I do understand the basic concepts fundamental analasis and technical analasis etc when looking at markets and know that news and trend patterns are what most professional traders look at.

You can not be said to be a newbie in trading! You are asking fundamental question which of course may apply to traditional market. Crypto currency trading is quite different and I will advice that you
need reorientation before your u star trading crypto. Familiarize yourself with the market and read every single trade on your traded coin.

The first im not a daily traders because that was too risky for my personally.

Checklist is a must in my opinion.

I was looking on the exchange sites which gives me the easiest way to trade. i will try to buy the coin at the dip and never try to buy at the green.

For the firth question and it seems different position everyday.

It's quite difficult to do a research for the dauly trade because that depends on your luck.

seems like it was not your first time doing trading and i believe you're understand how to trade other assets,
but cryptocurrency and other assets are completely different,
because cryptocurrency can be manipulated by people easily unlike Fiat,and other assets.
we're using fundamental and technical analysis just to see the bigger picture about what will happen,not to determine our move.
why ? because cryptocurrency is a decentralized thing,
what i mean is the price moved by the community themself,and  for them who has a million coins in their wallet.
they can do as their wish to the price and the movement can change at anytime.

daily profit ? for now i am not,because it's very unstable and can goes up or goes down at any time.
for example : look at bitcoin movement this past 2 days,the price moved for more than $1000.
if we're doing the daily profit,i believe we will miss it right away.

for other question i can not answer it because right now the only thing that i know and has a good potential is Bitcoin,
so no checklist and no green one.

lastly,always move to the opposite side from what people says.

Actually i focus here in forum.and every link that coming from reliable users(ofcourse those not have red tag) i do check on them.i believe in them most specially the legendary that has green tag.and i research every ico that has good portfolio and team.thats how i research before i start trading

I think simple in trading, buy when the price is low and sell when the price is high, but before buying first you must make sure  the coin price will rise up in 1 or 2 months, if you want to buy cheaply you can buy it in etherdelta especially new coin available before listed in exchange. there they will sell cheaper in etherdelta, and when coin will be listed in exchange the price will be rise up.

Its not really that hard just that don't be in a hurry to lose your money. I have been there and I have learnt my that just some minutes or hours wait to have the correct answers would save a lot of heart break. For me, what I do is to try the name of the coin on Google that give some suggestions to either coinmarket cap and the forum. From there, I have all the answers than I need without even bothering myself unnecessarily.

First, I look at the fundamentals of that cryptocurrency. It is not worth to take the risk of trading something that can't sustain itself in the long run. After that, I look at more technical details, like the trading volume and liquidity. If they are high enough, there are good chances for you to perform good trades.

I am not quite professional trader but do both short term and long term crypto trading.

- Yes if I am buying coins for short term, booking profit every day doesn't always a wise decision even if you are not holding coins for months and want to make quick profit you should atleast hold coin for 2-3 days.

- Checklist  ??? No just going through few coins which were performing quite good either dumped hard or pumping hard will be enough to choose one to play with.

- I am not quite technical trader, sometime chart can't allow you to make perfect prediction. Buy order, sell order and moving average can give you overall idea about current trend for the particular coin.

- No, I hold atleast for 24 hour and upto 1 week.

Always start small.. dont put in too much at first and learn more based on ur practice. And this applies both in fundamentals and technicals.. when to buy and what to buy same goes with selling

First of all.. if you are a day trader, you shouldn't be doing much research, you should be trading bitcoin only. The rest of cryptocurrencies don't have enough volume and liquidity for you to daytrade properly, unless you are trading with tiny amounts.

I don't day trade, so I only trade on fundamentals. When I take a position in a coin, I look at it from a technical and marketing point of view. Does it solve anything worth solving and does it properly? Do they have a good way to push their project above the rest of shitty projects if it's any good? If it's a yes on both, I may risk some BTC on it, otherwise I will just hold BTC.

Your anticipation was true which answers would really be different since we do have different trading ways we do have our own ways and we do have our own understanding regarding on the market but i would say that technical analysis doesnt work anytime here on crypto trading and i would rather rely on fundamentals on each coin because it is mainly affected and you can really get ideas on what positions you would do.

Why would you make a huge research in order to start a trade? it is just a trade, you are not investing for long term. If you are looking at the charts on the exchange, and if you see that it is a good opportunity to jump to the market and make some profit over that altcoin, then why you would not make a trade with those altcoins?
I guess that all those winning trades are only opened for five hours at max, you are not going to hold those coins or having them stuck in your balance forever.
They are two different things, i dont do a huge research before trading.

Before trading anycoin, I usually research the history chart of coin, get news from newspaper or website, ask some experts and then I start

I look out for the chart history of such crypto and also consult crypto gurus before I invest.

Thanks for the all the replies.

Ive only been in crypto for about two weeks tbh, after hearing about a friend investing in a recent ico.  

Since then Ive been researching, reading and learning as much as I can in my spare time on everything crytpo and trading.

I have built a small portfolio of about 10/12 coins over the last week and have seen them go up and down.

So just getting into the routine of buying and selling and trying different things.  Hoping to start trading slightly bigger sums by the end of the month and see how it goes.

I have set up small investment group of friends and were looking to buy £1k/1.5k of alts,btc,ico's per month and plan on doing it for a minimum of 24 months.  Hoping its an invesment worthwhile lol.

Before starting my daily session of trading, i just put my entire ass on the chair and start watching all the charts in there, if i see a good possibilitie to make good money on some trades, then i will execute them. Obviously that i always try to check this forum first to be aware from some pump/dump coins or situations that the market is going to have by that day.
It is like a routine for me, but you dont need to make a lot of research in order to trade.

Honestly the number 1 factor that I always consider is, "hype". You know no matter how a trader is good at analyzation, trading terms, technical and fearless forecast, chart reading or deep terms in trading etc., it will all be useless once there will be a massive and crazy pump or dump. New coins are prone to this kind of scenario, whether you got it from ICO or airdrops, so in here if you want to take a ride, you must face all the associated risks and try to get out once you sees a profit no matter how small it is because even in just a glimpse of seconds, a crash is possible.

Take note also that "Past performance can't always guarantee future results". Goodluck to you.

I would not say I am a full time day trader but have dabbled with some success. 1. In terms of a daily profit it really depends on the current market, on some days a loss in BTC can be acceptable if BTC price really surged. 2. I do not have a checklist but after a few mistakes early on I now always double check my trades and pause to think about my decision. 3. Actually I tend to look for coins that have decreased in value and are near to what I perceive to be their bottom. For example I purchased some XRP a couple days ago at just under 20c, it had not been much lower in a while and to me seemed to only have room to move upwards (thankfully it did earlier today). 4. For the most part yes, I would look to complete buy and sell orders in under a couple of hours each where possible, however sometimes it is necessary to wait a few days. Again I'm no professional but I hope my experiences may help in some way.

some of us making some research because they wanted to have a huge of profit in a very short period of time or they take it more serious that they want is  to take it for a long term we have a different characteristic here on how we make our strategies for us to have a profit.

Actually you dont have to search for everything or what. If you belong here in the forum, you can learn many things on wherever you need. Legit users are here and experienced people are the ones who are bringing the light in this site. And in the concept of trading, you must have a brave heart and you must be a high risker.

Actually just watch the coin that you want to trade, read some news about them, maybe in twitter or telegram.
Be adapted with its price action, and stay alert to bitcoin rally.

Before you make a trade on a coin, google it, you'll get it's official site, go through it, see whether people might invest in it or not. And then search for that coin on this site, read the posts of experienced users, that helps a lot.
 See how well the coin is doing for atleast a week and then you can make a trade. And it might be that sometimes you'd be wrong, but learn from your mistakes. Always be patient.
And there's never a huge profit in a really short period, you'd have to hold a coin for days or maybe weeks to gain profit.

Too much question and I think you never learn about anything before. I can tell you like this, stop  ask and start trade with little money and your skill. Never try to back again just try and try again. Experience is the best teacher to understand how market works and also how good you are? Need time to understand but it's worth to be done. Soon you'll have answer it self. That's how I find the right answer and still valuable, also give me passive income. Good luck to you.

Actually I do not understand about trading bitcoin and other altoin .. That I do quite easy that is to buy coin at cheap prices and sell at high prices .. In addition I do not forget to see the volume of coin in the trade.

Well if one is trading in btc then just need to follow the overall global economy regrading the btc. Rest of the coin like if in ICO or at initial stage you would require to understand the lot of things, need to check their team, whitepaper, how much scalable that coin is or what needs it supports etc.