Bitcoin Forum

Top 3 things to look after?
Are tools recommended?
Thank you!

Cut losses early. Don't let losses grow and don't blindly hold positions. If you're actively using TA, close your trade out once whatever principles you entered the trade on have been invalidated. It's very easy to become emotionally attached to losing positions, but that's something you want to avoid. Only let your winning trades run.

Don't risk your entire balance on one trade, or a large majority of it unless you're stopping the trade out so you're only risking a small amount of money on a trade. It's very rarely a good idea to be risking everything when the potential reward is small in comparison.

As for 'tools' you could try using, there are a large number of indicators you're able to use on sites like bitcoinwisdom.io (https://bitcoinwisdom.io/) or TradingView (https://www.tradingview.com/) (click either for direct link), and if you're ever unsure how a particular indicator works, looking it up on a search engine usually works. TradingView in particular also allows you to make your own custom indicators if you're willing to learn their Pine Script language.

Prior:
- Study the basics and general info about doing day trades. You don't want to just start on the actual, emptyhanded right?
- Study all the associated risks
- Choosing a coin
- Choosing a trading platform
- Determined how much amount you are willing to risks (why risks? Because you will lose it all, just kidding. )
- Take this seriously and SPEND LOTS OF TIME doing this. Daytrading is not a past time or "for fun" activity.

Once you are now on actual:
- Focus only on a single coin "for now"
- Study the coins' behavior
- Learn to use cut-loss
- Patience, Relax, Focus

It's difficult at first and there are times that a trader spends several months and even years before becoming a good trader. It needs practice. It needs experience so you will become used to it. There is no overnight profit here.

Are the tools recommended? Sort of bot or learning the chart lines? Not necessary but you can consider. You will be there soon.

Set a time to stop completely. Don't get consumed by greed by looking at how much you made. Be satisfied with what you made for the day instead of extending your trading sessions and suffering losses instead.

Read, analyze and study a lot. Day trading involves a lot of speculation so expect the unexpected. Expect losses and wins. Be ready for them instead of avoiding them

It'll be long and arduous trust me, but it should be quite worthwhile.

Day trading is not the best thing on the cryptocurrency market. For bitcoin and altcoins, swing trading is best suited, when positions can be moved through the night and work out for several days.
But if it did not convince you, then I advise you to use Neironix - https://neironix.io/cryptocurrency/bitcoin. There is a news feed left where you can conveniently quickly trade

Daily trading is good if you have the right ability, can analyze, read charts, and find the right information about the coin, daily trading is not as easy as what is imagined but we have to be able to perform well,

the most important are:
Analyze
Chart
Bot to help your trade.

I hope you can rule in those 3 things.

Thanks for sharing this link mate as it will help most of us I mean we are already aware of swing trading especially during these fluctuations but a news feed about the market progress will definitely help us to make an accurate move and moreover day trading is not for beginners ad it requires lot of analysis in order to make the right move which might go wrong if market goes the other way around.

At first how can you start with day trading especially when you really start and are new in it? You will miss a lot of good chance I guess.
So I would say: Avoid day trading at first when this thing is new for you (suggest to avoid in future too).
N1 thing that I would suggest to you is: It's not needed to catch every moment, you have to catch good and best ones, this way you'll achieve success in trading.
Of course tools are recommended cause they help you in analyzes and different things, if they are beneficial for you, why not to use them? But don't forget to read every bitcoin and crypto related news, they often affect prices.

learn to understand market behavior, each altcoin has a different behavior even though most of it follows the movements of bitcoin, specify the altcoin you want to trade, learn to read and understand indicators that fit your taste,
learn to control your emotions so that you are not greedy in profit or panic when there is big movement.

I think that's what we need to learn a lot from experienced people and invest in trading courses.
There, they will show you tricks that books never show you. I once started trading without knowledge, it was really a waste of money and time. so I just recommend you take a lot of courses to be better.

Thank you for your time! Sorry i'm quite new in crypto what does TA stand for?
Will check all recommedations for tools, till then...Thanks

That's the spirit. I'm totally okay with small steps and small expectations as you mentioned
Buckling up for a bumpy ride!

I don't do daytrading too much, or just when the market is in good timing to buy and sell. My 3 doings.
1. Don't just buy, be updated! (Know what's the development in your that coin, the reason for dump or pump in that day)
2. Cut Loss, the moment that you see your altcoin drop too much research immediately what's going on (if new project or not in top 20 coins).
3. Identify it's worth, There are altcoins worth daytrading and some popular crypto should be left longer to gain more in the future.

Yes, but that is not everything to day trading. When you say tools you are referring to tools that will help you come up with the best technical analysis possible such as fibonacci, RSI, etc right? They are all needed as guides. But more than these tools, you need to have the discipline to do fundamental research. I think fundamentals are even more important than technical analysis. Even if the charts are saying that the coming days are bearish, if the project has something really huge to announce, its coin's price will pump.

To be frank I really hate day trading because that is too stressful and very risky.

1] This is have been replied above that immediately cut you lose once there and switch into another altcoin if necessary. Research is the best weapon when you are on the battlefield in day trading so it must you are knowledgeable enough.
   
2] For convenient work use trading tools like Comma or Gunbot trading tool it less hassle when you are monitoring the market price.
Use also tools that can track your coins in just one platform just like blockfolio app for monitoring the price every now and then.

For this year, i really recommend to daytrading with alts because the movement is so agile and really profitable if we do it in the right way.
Learning technical analysis is a must for doing daytrading and also watch the news for up to date information about a specific coins will helped us to make profits.
Don't forget to do money management, losing in trades is usual thing in trading, but make sure we can maintain our loss and our profits more.

Well, first you need to study, study, study, and good research. Choosing the potential coin and research one by one.
Accept those possible consequences that probably you encountered and controlling your emotions not to panic. Do diversify when there is a massive drop, you can divert your bitcoin into a stable coin like USDT to cut your losses.

Don't rely on tools or pump and dump group. Doing your own research is the best for you. Indeed, day trading is expected that it is a stressful job.

1. You must be prepared to lose because of trading, big risks commensurate with large results.
2. use stop loss if the market has not been stable to minimize losses that are very much.
3. immediately sell altcoin / coins after you get profit from altcoin / coins because they are prone to cutters. but if you are sure of not dumping then just hold it

First thing don't day trade like gambling from doing this you will lose your profits even if you can manage to make some good trades,learn the trading strategies and technical analysis to understand more about the market condition.

People uses bots to identify the small price changes and make trades but its not recommended for the beginners,try to do on your own until you get better with your trading strategies.

Use only 20 to 30% of your total trading capital.

First of all you should document yourself about trading. There are various free resources on the internet, but first of all you need to decide if this is something you would want to do in your life. I'll tell you this - it is very time consuming to even learn technical analysis and practice your skills on demo accounts and reading charts. Babypips is a good place to start in my opinion. If you want to be a daytrader take into account that you'll have to stay most of your day in front of the screens. Is that how you want to spend your time? - Plus, you can spend that time and still lose money - because that's the nature of trading & over 95% of traders lose their whole accounts in the first year.

As you can see there are many factors to take into account before getting yourself into an endeavour like trading.

Before do day trading, maybe learn to analyze top volume coin so not pick wrong coin, or maybe wrong rate. If you can pick good moment, good rate, good coin, maybe you can get profit in shorter time. And for minimize loss, maybe don't target really high price to sell, at least your order can reached and filled. After that, you can start again to other coin or can try with same coin again.

First, are you ready to lose some of your money? Are you ready to see the value of your money decreasing? Are you aware with the risk management and are you emotionally ready and will have a long patience

Those are the basic things we need to be ready first, when we are in motivation while we are learning we can create our own tools and strategy.

Rules and theories are just to complicated and they might be different when you start to practice.

Just make it more simple :

- Make mistakes as much as possible
- Learn from your mistakes
- Do things right then

additional tip : 24/7 in front of your computer, don't move too long out of it.

I may not have too many things to say but I will tell you that after you must have gathered the knowledge to trade which I believe you would have had your strategy also that you will use for the trading, you have to ensure one thing, ensure that you are able to manage your greed level because that is the real main thing that usually do kill people’s trade.

one of the way you can control your emotion and manage your greed level is if you try to use your trading tools, like stop loss and profit taking tools, if you can actually manage this, then I think you will have a very great and wonderful trade. Last thing I would advise you on is never to go on leverage trading if you are new o trading, it will kill your trade money faster than you can ever imagine.

As long as you will looking for tips and advice you will never end up winning in this profession, but still i would suggest you ,deep knowledge about the subject, a good trading plan and rigid discipline can take you further all the best. become an expert at discretionary trading while factoring in trading with algorithms. All financial markets are now dominated by big players using algorithms to bait traders into the market and then move against them. You need to figure out how this is being done.

However, My best tip is to forget about day trading unless you have money you can afford to lose. Day trading is risky and not for amateurs. 95 percent of day traders blow out their account in less than a year. If you’re going to have a shot at succeeding at it, spend a few years learning the ins and outs of the financial markets. Otherwise, you’ll be wondering, Where did my money go?

As a beginner, the day-trading is not going to be easy for you since you have zero experience from the cryptocurrency market.
I think these are the top 3 things to master in crypto trading which are as follows:

- Learning crypto trading is a MUST
- Master the art of finding profitable/trending coin
- When to buy and when to sell

Tools are always required, you shouod use all the tools the know of to help you decide if you can Sell Or Buy. But the most important is time, if you dont have a lot of time to spend to monitor the price movement of the coin that you bought, then day trading is not for you. In day trading you need to monitor the price.

I wont ask anyone to make as much blunders as possible but rather suggest the exact opposite: learn as much as possible so that mistakes can be avoided at most. However, learning from mistakes plays significant role in order to grow and survive. Instead of sitting 24/7, he can use some app that will notify him regarding the changing value on hourly basis or so. No human can work 24/7 for sure.

Find a good time to entry that is the key IMO. When you start trading at least you have to familiar with the movement price itself. I think, the price of cryptocurrency is extremly different with another place such as forex or etc. I had been two year being trader forex and yeah I came out from it and start to trade on cryptocurrency.

I'll say a good time to entry to trade on cryptocurrency is the key to gain money. How come, you can gain a lot profit in short time pariode and sell it first and wait a correction and you can buy again, repeat it as much as you can. Regardless of a tool to trade, I myself didn't recommend it, use your ability because your ability will never cheat you.

If you want to start day trading the first step is to prepare capital that we can afford to lose, because day trading has a huge risk.
The second step is to analyze the market thoroughly and choose the coins that are in accordance with day trading, namely coins
with high volatility. Third Step using stop loss, if the coins we choose the price drops dramatically, we can do the cut loss so it does
not experience big loss. And the last one I suggest don't use bots for day trading, bots usually like to make mistakes later our capital
can be used up.

3 things you need to consider when you want to do daily trading in my opinion are:
1. Exchange, you need to choose an Exchange that has a high volume so that the coins you choose are coins that have a high volume too.
2. The right coins, you must really choosing the right coins to avoid loss.
3. Studying technical and fundamental analysis.

Actually not only 3 things to remember and to look after but let me say few that a trader must do especially in day trading.

-It's not a quick rick scheme so do not rush things.
-Emotions can messed up trades.
-Stop loss is important.
-Setting a target profit.
-Prevent looking at the chart from time to time or every minute. It's not advisable and will just give you doubts in your plans.


Probably yes, like Technical analysis. You highly need them to track the status of your daily trades.

The reason I suggest everyone to make mistake is to be able to do what is right then. When you don't know how it feels to have mistake, you won't really have effort to avoid it.

27/4 means the longer you are in front of your computer, the faster you become an expert day trader.

I would recommend these three things for day trading
1. learn Technical Analysis and fundamental analysis ( working trading strategy)
2. Device a good money management to manage your losses well after deploying your strategy with a  good risk to reward  ratio at least 2:1
3. Personally I would recommend manual trading I wouldn't deploy Bot or Expert ad-visor for trading.

At the beginning making mistakes with small amount of money in trading is fair but making mistakes every time is not good because in this way a large amount of money can be lost by the traders, a trader should learn from his initial mistakes and should try to improve his skills and knowledge about the day trading by making himself expert, but not learning from his mistakes would lead him to a great loss.

Some tips from my experience:
 
 - When you start a trade, always have a plan and stick to it
 - Make sure you always have a stop loss in place, it will save you a lot of sleep and stress  ;D
 - If you're starting out with no prior experience you can try trading without actually buying/selling to try it out, just write down what you would do and see what your profit or loss would have been
 - Don't use too much leverage, otherwise you may as well go gambling
 - Learn some basics of TA, don't just trade on intuition
 - Know that these markets are heavily manipulated, try not to fall for the traps

These three statements are really useful on daily trading, But peoples are expecting more profit on everyday so Token investment is the best choice for crypto trading. They have not huge volume so risk factor is high in this coin. So I don't recommend for new investors and those are have knowledge in mid term trading they will try and earn this format.

Don't rely too much in indicators and expert predictions, I use manual trading based on my study or whenever there are news in that specific coin. When we already trading we can eventually realize our strengths and weekness in trading, we can try with few bucks then allot more when you already make you weekness a strength too.

1. Determine how much money you will use. I suggest using $50-$100
2. Choose the coin which has a medium movement. You can find the coin by analyzing one by one.
3. Make a few order buy and sell and don't use all-in of the money.

Let say you use $50. You place an order buy at the three-level price and wait one by one of the order filled. If one order filled, you need to place an order sell at the high price, set it at least 0.5%-1.5% from the order buy price. If your order buy price is 100 satoshi, then you can sell at 101 satoshi, rinse and repeat if the price has a good movement.

For the second-order buy price, you can buy at 90 satoshi, and you can sell at 91 satoshi, rinse and repeat again. And so on with the other order buy but only create up to 3 order buy price because you need to have a backup of the money, just in case if the price getting dump so hard.

If the price increase, then you need to adjust your order buy to a higher price, but be careful because the price could up and down faster, so you need to prepare yourself.

I think you don't need tools to start, and only watch the price move and watching and analyzing the chart. Good luck.

Before you start day trading you first need to learn about the blockchain, and which currencies to trade. Before you invest your money in any altcoins for trading you have to do serious research about them and get to know everything that you're meant to know about them.

Next thing is to sign up for a good exchange, most newbies I know usually starts with Coinbase because of how simple their trade interface is. You can as well make use of Binance, but it not as easy as Coinbase, though they are regarded as the best, but you will have to be advanced before making use of Binance. There are other exchanges as well, such Huobi and Kraken.
 
After you have gotten the right exchange, what's next is to learn the basics of day trading, it's not something you go straight into, there's a lot of risks involved. You learn the basics and as time goes on you start to learn more and increase your skills. And don't forget to use limit and stop orders effectively, these are very important.

Yes, even there are some tools are available to ease the efforts of a trader, they will not be remaining reliable all the times. At the end of the day, even after using any tool, final decision should be based on our experience. This is why day trading is not at all recommended. Day trading may eat up all your time but there would not be any guarantee that you may match a long term holder over the time in profit levels.

if you want to start day trading find some exchange first where you can practice your skills because it looks like you're pretty new here and yet have no enough knowledge about how it really works .  After that learn how make technical analysis and find some site where you can obtain news about the market because that is the most important as well to don't miss all the opportunity and to avoid risky situation. Remember day trading is very stressful and you need to focus on it time on time if you want to save your money and if you realy want to accumulate more profits. Because if miss something on it there's a possibility that you will lose some money on it.

Tips for daily trading
1. try when you already get 2-5% profit you sell directly
2. Determine the support first and make the cut lose below the support
3. When you want to trade you should, look for a large volume for easy trade

It should be better to help the author to make that plan...I think it has to cosist of several pshychological points where traider has to stop.

Pumps and dumps are the best friends for risky traders, so topicstarter has to understand which strategy does he want to use.

Some popular companies are propositing demo accounts to try real trading without real money. It will be cool for a newbie to have free|paid courses before start of using big money in any kind of trading.

A lot of good advice here. I'll just add that I think it is important to be self aware. In fact, I think it's really important.

Day trading involves quick decisions. I was just reading another thread that talked about over trading and other things. If a day trader loses his/her 'cool', if often leads to bad trades. So it's important to be aware of your mood etc. This is much more difficult to control than it sounds. Taking a loss is not easy, and then not letting it get to your head is even harder.

key point was we have to set our trading plan before we start our trading ,this plan will be usefull when suddenly market moved againts our direction.only less trader that dicipline with their trading plan.meanwhile trader could be success due this key.and second we must  not be greedy,dont ever thinking we will earn huge profits in each trade.collecting profits 2-5% for each trades could be huge amount someday.

First, Learn every basic trading out there. Especially how to do technical analysis (how to read the pattern of the charts) and fundamental analysis (financial statements such as news).
After that choose an exchange and the alts you want to trade, which has a good volume is better.

You need to set your mind set, do not lose to your emotions. You have to focus. Know when to buy and sell based on the support and resistance. And when to cut lose or buy back at the bottom.

You have to make a quick decision whether to buy or sell, and it's not easy. Just try with a small amount of funds first. And only invest what you can afford to lose.

That's losing their self-control and lead to emotional trading which will directly lead to a lot of losses. First thing first is to set your mind when trading, do not feel any emotion connected when the market is not on your side. Day trading is a bit hard if you are just doing the basics, practice trading more often but handle the risk safely.

Not every day you can make a profit from this market because there will be times when the market suddenly drops prices and you can completely lose more than 10% of your assets in just a few hours. I think that when you do day trading, you need to have good knowledge and be careful with the volatility of this market because we are often unpredictable. In my opinion you should team up and have a specific plan when investing because each of your members will have different predictions and can decide to invest if it is a good choice.

Did I mention that people should make same mistake twice or more?

Making mistake regardless of the loss is good that you can learn and know what's right. But not to repeat it again as you should not be that stupid.

I see someone commented about bots, if you are a beginner, I wouldn't recommend it because it's just going to complicate things on your end.

Maybe you can read about TA or understand it by going thru https://www.tradingview.com/ and see how those who have experience already made their charts and 'predict' the next price movement.

I really don't know who recommend you to do day trading because it's difficult specially if you are a newbie. Anyways, best of luck to you.

I'll give in to the doubts that bots seem to be helpful for beginners. It is particularly not a good idea if we are still learning.

I'll just give some tools which most traders had used already: TA's, trading signals and practice to read a chart. These things will give you a hint but not just to rely on all of them, it also we need to analyze the market carefully as we know that volatility still at play. Spending more time in trading will help us to fully understand how it really works.

I will give you only one piece of advice that I think is most effective for both beginners and experienced traders.

Always start trading with a demo account. It is not necessary to use a demo account on a specific exchange, you can just start writing down on a piece of paper the alleged transactions where you opened and closed your positions. The goal will be break-even trading.

When on a demo account you will not have minuses, but only pluses, only then you can safely sit down and try on the day trading.

It's always not as easy as it is been stated; that's the bitter ugly truth. Though, most of the advice given to you here are true but day trading is not something you start in a day and learn about it all in the same day.
You will need constant practising, better still get à demo account and learn the tricks from there. If you can't find a demo account, try trading with small amounts and with shit coins, from there, you get better.

Planing for daily trading is very important. when prices actually did not increase and also decreased and it has been a few hours we have to make a decision to sell it. because our money must keep turning back. as a daily trader do not hold too long. Cute Lose's decision making must be done to be able to turn back our money

I think it will take several years to learn because day trading requires a lot of analytical knowledge and not everyone is skilled enough to do this in this market. The market has a lot of big fluctuations and if you can make a good profit during this time you are definitely a very good trader. I tried but not much success because my psychology is often very bad and often loses money if the market starts to turn red.

My current best option is still the long term investment because this is the easiest way to invest and is quite popular among the bear market. Of course no one can guarantee your profits because every coin has a different value.

You must be first emotionless here.
Once there is gain, take it. Do not be greedy and wait for more. You are day trading and that means profit just for that day.
Take advantage of the short pump and stop being a holder.

Next, when you feel like you are losing more, stop it already before it gets worst. Do not think that it might go up later. That is an unwise call.

Fresh mind and also a good and non stressful day.

I dont use any bots. I do it manually so I better be in the right mind while doing it.
You should always be wise not to be dragged by a wave that is happening.
Profits come and go and you better take the opportunity while it is there.
Prevent being a FOMO. If you are seeing a pump, put a number into your mind into where you will sell. When that number comes never doubt. Sell it already. Next, do not regret it even if the pump continues. Wait for another dump to buy.
The amount should be lower than how much you sold the same coin.

Tool not recommended, newbies sometimes can't operate it and can't adjust it to market conditions, but for traders who are used to it. I would recommend boot trading. For traders who have experienced tools are highly recommended.

Daily traders must have extensive knowledge and lots of cryptocurrency information, because day traders prefer crypto that has a positive signal. emotion is wrong decision making.

Before you start day trading real money, I strongly recommend that you achieve stable success by trading on a demo account. Moreover, trading on it should be strictly disciplined, in full accordance with your chosen trading strategy. If on a demo account you deviate from your trading strategy and do not develop discipline, then when you start trading with real money you will almost certainly lose your Deposit. And of course you need to learn a lot of technical analysis and constantly be aware of the most current news.

Totally agree with. Not feeling well with your day trading? Cut if off as early as you could so that it would not get more severe. And before this I bet you already knew these things. First thing is that KNOWLEDGE do not go around messing with your trading stuff if you do not know the basics, and plus keep on the track by reading latest news. Second set funds that you are willing to lose. So that you'll never be off control with your money. Third keep it small, and as you feel confident enough with your trading skills then go big.

Its true that knowledge is the best asset that you can use in trading because if you have enough understanding then it will be easy for you to make the right decisions and if you have ever encounter a problem then you can easily find a way to resolve it. Also, it serve as guide to you that's why it was needed particularly when you are still new into these kind of things not only for them but everyone because we should never stop learning. It is also accurate that when it comes to funds, just set what you aren't afraid to lose because you don't want yourself to feel remorse because of it that's why be careful on making decisions.

I think using a demo account to make a trade is a good idea because they will have more new experience when investing in this market and can decide to make a real investment if they feel okay. This market has plenty of opportunities to make money for everyone, so it takes discipline before deciding to invest. In fact, new traders will often easily panic sell if the market starts to fall and there will be many wrong decisions that can directly affect their profits.

During this time, I had very few trade and only chose long-term investment because this is the safest way to make money in the bear market but it still has its own risks if I can't control my psychology.

First thing you should do is to look after yourself. No one will do it for you.
No one will care if you have the right or wrong choices.
Do not regret what you did.
Doubts may also be a wall to your choices. If you have a decision then just do it.

Daily profits is essential. If you cannot see any profits and the price keeps going down then stop it already before it goes to the wrong path.

Having demo account is a basic way of starting trading step by step so we can achieve a substantial knowledge, even though not yet effective but at least it's gainig good results. However this process would take a lot of time, and every trader should develop courage, determinations and will in order to become successful in the long run. Having awareness in very important for trading, regardless it it's daily or long term.

If you want to start day trading makes sure you have a lot of time to focus to avoid risk and loses and also makes sure you are strong in times of troubles to face how to recover the loses.





This a great advise and do not greedy earn small percentages daily profits is enough to avoid trap.


 

tools are also a necessary tool but to start trading, you should not use tools. You should buy books about reading more and experience with the first 100 transactions in your life.
for me, the important signals are Elliott wave, 2 top 2 low. And more importantly, you need to learn and master the use of EMA, MACD, RSI, FIBO. It is very important knowledge to identify the trend of coins in the short future.

First you have to learn to read charts and analyze what is the possible movement within that particular day.
Second is to understand how the market works in the daily and
Third is to plan your trade with a proper understanding and using your own risk management in trading because Fay trading isn't easy in a way that if you don't know what to look for and fin the gokd coin for you to have an entry and exit with profit in that day.

Instead of depending on bots, would not it be more beneficial to do some research on one’s own. Moreover, depending on tools rather than one’s skills and not trying to enhance them, will build the habit of relying on such bots in a newbie. This is not good at all. Using these tools in the right way is not possible without having a good understanding of trading and asset. Manual trade with bitcoin must be the starting point.

Yes, one should have knowledge on setting up the bots to trade. For this, one should have his own experience in manual trading. Basics are, finding out the right coins and pairs that would bring profits. Analyze the coin's background, its product, its team's strength and watch its growth via the channel they have provided. Then when you are sure about few coins to be in your portfolio and have confident on the coin's growth, then yes, go for setting up bots for the coins you have chosen.

In my own opinion, using bots in trading is only a guide for newbies or beginners for them to enhance their skills in trading, but using bots is really not a good tool for trading because it is not that effective for you to make a successful trade, that is why manual trading is still an effective to make sure that you follow your strategies. You should also be doing some research like watching videos in YouTube and asking guidance to a professional trader for you to know  other things that you could used in your trade. Lastly, you should also know how to control your emotions in trading for you to have patience and to panic when you are experience a downfall in a market.

Study study study. Learn what is trading. Basics of technical analysis. Learn price action study and learn market phases and patterns. Also try to learn some indicators. But the thing is that this isn't enough. After this you will have to develop your own system by using all what you have learnt. Back test and forward test your system for sometime with low capital. Have patience and ensure that you maintain a trade journal. After persistent efforts you can definitely start to earn a good money

Technical/Fundamental analysis
Emotion handling
Risk/Fund management handling.
&
Some mix of Luck

Things that is commonly needed for you to learn and control excluding luck.

You should answer these questions yourself:
- Am I ready to trade CONSTANTLY? (literally, if you want to start day trading)?
- Am I ready psychologically to lose times a day, not only make money daily?
- Do I have enough income sources to cover these losses if they happen?
- Do I have enough information about this business?

   It's easy to start with day-trading. Opening account on some exchange, there
are many exchanges, and depositing funds are two things to do and a person is
ready for day-trading.
   Hard part is making profit. Person that decides to start day-trading should be
prepared for days without profit, and eventual loss of funds. People should trade just
with money they can afford to lose, covering loses and borrowing money for day-trading
is not a good idea.
    Bitcoin Seller you have good questions here, who wish to try trading should have
a ready answers on them. If someone doesn't have answers on them shouldn't even try
with day-trading.

If you have to ask that question then I can tell you are not ready, day trading is by far the most challenging way to trade and yet it is the one most usually selected by those trying to make money in the markets for the first time, I know the temptation to make some fast profits is there and it cannot be controlled, but believe me you will never make it since day trading is harder than what you think, in my opinion you need to have at least a few years of experience in trading before attempting to day trade.

It so happens that the eagerness and such temptation tried to control over his mind and put everything at risk. Realizing how is it importance to have knowledge and trading experience is quite a best thing to do than being of nothing. I believe months of exposure and studying the market is quite enough to learn something and we can just fully understand it once we are in actual scenario. 

It is actually the most challenging, as day trading is like you are doing a full time job, you need to analyze the job first, before you will find the solution, you need to consider and focus on a lot of things, sometimes if the market is not good, you will spend more time, just like you are rendering overtime, most of the time you have lack of sleep, so these are the things to consider and make sure you are ready for this.

3 Tips start DayTrading Cryptocurrency :

1. Take time to analyse fundamental aspects of cryptocurrency
2. Pay attention to the history of coin prices, buy cheap and sell expensive. One way in trading is that you do the price scanning of some of your cryptocurrency coins such a fundamental aspect.
3. Cryptocurrency Technical Analysis
Anyone can trade Bitcoin or other cryptocurrency and get profit when the market is bullish, and can also lose when the market is bearish.

Source (https://digitalis.id/blog/cara-trading-bitcoin-crypto-hal-hal-penting-yang-perlu-anda-tahu/)

Always plan ahead, cut losses if losses exceed 3% and never let your emotions overwhelm.
Besides these 3 things, there are many things that a trader needs to know every day, such as always learning and improving knowledge, listening to the opinions of others but always being himself in the decisions.
Divide the capital into small parts and invest in many different currencies.
Trading on large and high volume exchanges is easier than trading on low volume exchanges.

Don't greedy to chase your profit. Otherwise, you will miss the right time to buy and sell. You need to have skills to analyze the coin because, in day trading, it is not easy to choose the coin as many coins will tempt you to select. You should know when you must get out of the market, especially if there is no sign to keep staying at the market.

Tools only help you to analyze better, but you should have the basics skills in analyzing. Last but not least, only use the money you can afford and don't risking all of your money.

Tools are really needed for newbie traderw who want to do day trade because in day trade we don't trade only one coin a day, it must be more than 5 coins or even in different exchanges. So, for easy monitoring our trades we should have tools like blockfolio so we can control our trade and know the right time when we have to get out from the trades.

Being greedy is good as long as the approach is realistic and smart. If you desire to get huge amounts of money, that is good for you eventually. However, you must not look for shortcuts and willing to do more work than you are. Choose a potential coin, that is basically bitcoin and you wont have to leave the market ever. Other than this, tools should be used but depending totally on them is wrong.

Yeah for sure everyone desire to become rich so those who are being foolish to think that in trading they can get fast profit by using short cut are gonna suffer lose as willing to become rich faster without working hard is the wrong concept just make research then you will find the best coin for you and when you get your coin then just hold and trade for long term.

I would not advise doing day trading on cryptocurrencies. This is a risky slash. The best method is swing trading or stall. Cryptocurrencies are too volatile, so losses on stop orders can be higher than daily profit

When it comes to day trading, you'll want to start off slow! Trade only with amounts you can afford to lose, and ensure that you're keeping track of the ups and downs of the market. If you get good enough, day trading can eventually become a profession, but it'll take you a while to work up to that. Also consider using a marketplace like Vertex (https://vertex.market) to trade - fees are lower than on exchanges so you can maximize profit.

looking for coins that have potential to grow in the long-time and also check coins specifications like total supply coin, price ICO or community coin will be able to make prices rise or not. and also analysis coin price movements period 1 day and 1 month

I guess OP is treating day-trading as something too different but in reality it is just a short term trading and when dealing with only on spot markets then there will be no worry to close your day-trading within a day; this way your day-trading may turn as a positional trading which is always good for making easy money compared to day-trading.

Day-trading in derivative/leveraged market is NOT at all recommended. We may day-trade the spot markets and if it is not profitable then we must focus on holding it rather than exiting at stop-loss levels. Remember I talk all these just based on bitcoin and few established altcoin based trading alone and not for trading shit altcoins which do fly on pumps without enough volumes.

Look for a coin that has a high trading volume, don't ever buy a coin that has a very low trading volume also consider if that coin is a good for investment some of the good coins with a high vitality rate is the Bitcoin, Ethereum, Ripple or the top 10 top cryptocurrencies.

You should consider as well on when you are going to enter the market thorough the analyzing the market using technical analysis and set an amount of your target and when you have reached that specific target then don't be greedy and get out.

Lastly, cut your losses by setting a price on where you need to sell it don't ever think that it might go back again. It's better to be safe than never and remember to accept losing in trading and accept small losing rather than big lose.

To my knowledge the top 3 things to bear in mind are, cover your basics, don't invest more than you can afford and set yourself a deadline for when you're going to stop day trading and asses how it all went. Also, can use tools but I wouldn't recommend them at the beginning, give yourself some time before you use them as you'll need to first understand how they operate.

Starting day trading we must use capital that we can afford to lose, the next step is take profit of no more than 3% per day. And the last step
is using the cutloss feature, so when the market changes suddenly it becomes bad. We can still do day trading, by buying more coins at low
prices. If we carry out the three steps I mentioned, they should be able to make a profit per day. And my suggestion is to save profits that can
be stablecoins so it is not affected by price movements in the market. In my opinion for day trading no tools are needed to predict prices or help
from trading bots. Just do it manually will go smoothly.

OP only made this short thread to ask for experiences from some traders here. This explains me how lazy OP actually is and such people hardly have any profits in trading. There would be a huge list for OP to start with if he wants to have any profits with trading. Trading is never impossible and any individual can start with trading with no prior knowledge but the efforts to be taken by such individual are great enough.

There are thousands of newbies entering cryptocurrency trading daily but more than half of such newbies might be leaving the markets in a single day. Trading is a trickiest source of investment but yet can give us major profits so you should always try to gain as much knowledge as possible before actually performing your first trade.

Everything you can lay your hands on is recommended, as long as it’s something that’s going to be helpful. Day trading is not quite easy, don’t think it’s easy because people don’t come here to share story on how they lose except when they start winning.

So, take your time and study, when you have fully understood how it works you can then get into it. And there’s something you else you have to understand, cryptocurrency is volatile and most of the times you don’t need just only technical analysis to tell where the price is really heading to. You need to be following up with news as well.

I agree, Day trading is not easy to do its also need a enough knowledge and you're always in the monitor to check. Also most of your time is needed because of time to time monitoring of the market due to volatile of the crypto, it's better to learn all aspect of day trading because it can avoid or lessen you from loses. And keep studying and learning about day trading and be ready to consume more of your time because in the end can give you good result.

Daily trading is very good way for trading because you always get profit every day without hold your coin because price going down, but checking which one good coin for trading in daily day is hard and look impossible we can get profit every day.

It's a good way for people who have experience and knowledge about trading. Daily trading is not for newcomers who never traded before, for people who don't have reliable source of info. Daily trading is definitely not for people who can't afford to lose some money before they start to make profit. Bankroll management is important when you're dealing with money in any way, especially in trading and gambling.
My advice for starters is to learn and to  be ready to spend some money for that knowledge they will get along the way. In that process newcomer will be able to try different things and to find out which strategy is the best for his time and bankroll, because what works for one will not necessary work for others.

if you are planing to do day trading then you have to know managing trades and money risk first , because every day there will be different market conditions if we you dont know how to deal with market conditions then your account will be wiped , you should know when to trade , when not to trade , what position size to use in different conditions   

First of all I would suggest you to read online about how to read charts, how to read a chart usually starts with indicators and you will learn at least 40% of all you need from just that, if you know how to read charts, if you know what indicators means, if you know the needed terms to read them and you are capable of looking at the prices from all angles instead of just one-sided that would mean you will be fine while trading.

After that the most important is to go to bitmex or any other website that has "test trading" feature so you can just test yourself and see if you could trade properly and make a good amount of money. If you are capable of making a profit from the testing place, you can slowly turn into real trading and start making some real trades.

Day trading is quite not easy and risky because it's price easily change that's why you need to monitor the market time to time. Also you need to know how to read the chart to avoid loses, it will be fine if you know when to continue and stop. First you need to know about your coin, second know the maket situation, but most of all have patience.

I think choose bigger coin like ethereum, bitcoin cash or litecoin become good way for daily trading, third coin have potential for growing up every day although just get several percent profit every day.

i dont know bout eth but maybe bch and ltc can fullfill what you say  . i see eth as a non unstable altcoin , i can see it via its value because you know ive been checking eth the whole time.  also i monitor the price of bch sometimes but i notice that bch is kinda stable too while i rarely check out the price of ltc  .

 still for me i think the best coin for doing daily trade or daytrading was bitcoin  . we all know how unstable bitcoin is  . we can use this unstability to pocket tiny profits from time to time  . tho im still sticking to my investment business more than trading

I would advise you to refrain from trading while the market is unstable. It is very dangerous to start trading now, as the market may break in any direction at any time. Now even experienced traders are watching from the outside.

I agree with you that as the things are right now, any trade form an unexperienced person could only lead towards massive losses. This would be the case, irrespective of the amount you use to trade, and that's all because of the volatility and these all low historic market lows across all cryptos!

Most important thing to start with is, never follow anyone else's instincts as it would never make you gain any knowledge. You should try to make your own research before starting with day trading.

Day trading is actually meant for experienced traders as it is not that easy to spot the price changes in 1 minute to 3 minutes graphs. You have to basically start by learning about the charts and patterns and then you have to learn about patterns which are useful for short term trading. You also have to consider learning about the order books to spot the support and resistance levels as you have to adjust your buy and sell orders somewhat near it. You have to get more devoted and try to spend 4+ hours a day in just gaining experience.

I couldn't agree more. In day trading, the potential of the coin is on top priority, you cannot just go wild with coins moving in a short price range, you need to see the full potential of the coin by seeing it on the market capitalization and trading volume not just because of its price. Common mistakes of day trader, they always base their instinct on the prices which might or might not totally help them to trading. Also day trading isn't that hard if you are hardly working on it much more than a casual trader does.

Most beginners make a very serious mistake when they start day trading. They begin to trade using complex systems that they do not understand, a large bankroll that they cannot manage, and also neglect the advice of experienced traders. Start simple. Start to study the quotes of the charts and guess where the price of the coin you choose will go, write all this in a notebook or notepad. Open your first transactions on paper, in the future it will bring you a lot of benefits.

1, Always put even small take profit orders
2, Do not never forget rule number 2 and 3
3, use stop-loss and take profit

With this you get far

As a trader I would like to share on you on how I start trading.
First, find a most trusted person that will help you in studying trading.
Second, Don't be to greed in making profit, because it will lead you to lose a large amount of your assets, because when you greed you don't think about the money that you lose,
            instead you'll just focusing on your earnings but it's not because your just trading a large percentage of your assets and when you get lost it will lead you on a big debt.
Third, when you try to trade. I suggested at least 2-5% of your assets only because it only serves as your practice in predicting the charts so that when you get lose it will not effect a
             lot in your assets.

Swing trading is more damaging than day trading Here is the fear of losing And if you do day-to-day trading you can make some profit every day The amount of loss can be offset In that case you will need to analyze different places. Charts are trading well and need to learn Trading Charts better than you know you can set the price low.

Although daily trading seems to be pleasing to the eye, it is quite risky and stressful. As someone who has been daily trading for a long time and continues to do it actively, I would like to say that when you start this business, your life will undergo great changes both positively and negatively. Yes, I said positive change because you can make very good income when you do this job really well and correctly. On the other hand, just as every good thing has a price, this income will also have a price, which is the negative factor of this business. You will have a lot of stress when you do daily operations and it will not be easy to control this stress. Despite all this, if you think that I want to trade daily and believe that you can do this job successfully, you can start trading without further delay.
When you are going to make daily transactions, you should evaluate the graphic analysis with at least 1 hour and a maximum of 4 hours. I can also advise you to follow the support and resistance points instead of using an indicator for your daily transactions. When trading, you should be careful to be patient, not to panic and to control your capital correctly. You should not panic, especially in the event of a possible loss, and you should always keep your loss level to a minimum by using stop-loss.
Finally, I want to say that if you want to sleep comfortably at night, you must definitely close all your operations and go to bed. To give an example from my own experience, I was falling asleep or having a nightmare, especially during the leveraged nights.

I agree with you. Trading in a bear market can make your risk even higher and if you are not careful you will lose a lot of profit when choosing to invest. This year, perhaps only choose Bitcoin as a long term investment because altcoin now depends very much on the price of Bitcoin, so if the coin can not rise, altcoin will not have any opportunity to increase prices. Anyway, I would consider buying altcoin if it is a good project and patiently waiting for some time to know what will happen.