Bitcoin Forum

Every trader has different trading techniques. But the goal is the same, looking for profit. If you are an expert maybe you can share here. Add a picture about the TA you made and the description. Regarding the factors that you mentioned above, maybe you can add a detailed description, I'm sure this will be useful for me and  many people in the forum.

The whole difficulty of trading throughout the year is that your system can work well in a bull market, but in a bear market you will lose everything you earned. It is important not only to have a strategy, but also have time to adjust to a new phase of the market. 90% of novice traders are not able to do this.

how beginners understand this clearly, so you can add some information in simple language and examples of its implementation so that beginners really understand without leaving curiosity after reading your thread.

To be frank, no trading strategy is 100% a winner. There are always days of losing streak for traders. This doesn't mean the strategy is bad whenever that happens. Again, almost anyone can record a winner during a trend movement. It's that simple. But you get to know the real traders when the market is in a range.

As for what to bear in mind, I think every trader should stay away from using lagging indicators of which RSI, MA, Fractals, MACD etc are among. Try relying more on leading indicators like Price Action, Trendlines, Support and Resistance. Every other items to bear in mind on the list you provided are excellent.

although it is advantageous to adopt a day trading strategy, we prefer to be long-term holders. for you, maybe it will be very suitable and ready for all the risks of daily trading stress seeing price movements every day. we prefer to reflect the brain without price pressure, we leave bitcoin on hold even though the bear market is going on. and for altcoin during Bitcoin's correction, lost hope of growing again.

Strategies will depend on our capabilities to understand the market same with the time we can allot to understand the market. It can be easy to say what to do but the application is way too hard to understand especially if we're still doing other job or activities. As we trade we will discover what strategies works on us best.

Well, if these are your strategies then, --it is good for you but I don't know if these are enough strategies that I have known. Each trader had their own strategies to follow and not only even by that, but they also have a trading plan so that they stick to it whatever will happen. However, I agree with the below comment that there is no accurate strategy in trading, these are only your tool that you can provide a near-to-close forecast of giving a prediction of the price, but it does not mean you always win on your strategies. Just a quick, since you are talking about TA patterns, it would also be better if you will include the FA strategy.

Depending on how much time I have. If I have enough time to watch charts, I sometimes do scalp trading only when the market is less volatile or moving sideways. I short or long the small waves about 4-5 times a day with a fairly high leverage, maybe 20x of course with  stop-loss.

You also don't want to open a position during hours when the coin price usually spikes or drops

This is kinda buying the bottoms, which for me it is still good since you are using different trading indicators, especially the RSI for momentum indicator, where you can also use this to identify if overbought or oversold.
Btw OP, what timeframe you are using the most when you are doing that kind of trading strategy?
And also your risk:reward ratio? You got a quite good win rate.

But honestly I will not get into such a random trading strategies from an inexperienced trader. Even it is for educational purposes, I will not waste my time when it is from noobs. It is always better to go for other tutorials because these days we are having lots of videos and other materials across internet on enlightening us about various trading strategies and methods.

Moreover, when it comes about day trading in crypto then definitely I am out. I never look for in a strategy for getting into day trading because I'm not having any idea to start day trading in cryptocurrencies.

It is very important for every trader to have his own trading 
Strategies in the market.My basic strategies when trading are

-Identify the market trend whether up or down
- If up I will be looking to buy at the higher -low of the structure
-if down i will look forward to sell at lower high of the market structure
-Plot out trend line or rsi divergence
-use a very tight stop loss or go break even as soon as possible

With  this strategies I don't lose too much money and I manage to make as much profits from the market.

Day trading is a very deep topic so it can't be said in few words but one thing everyone has their own and different strategies which can be completely different from others.In my opinion analyzing the price against USD value and trading with a stable coin gives better stability in your analysis so you have less chance of making errors and losses.

day trading strategies are usually not suitable for some traders because many fail and experience losses. The need for an understanding of technical and fundamental analysis as well as having a large enough capital to get more benefits.

Day trading makes use of large leverage and short term trading strategies to take advantage of every small price movement with high liquidity.

Day trading is perfect for those who want to get quicker and definite profits instead of having to hold back for a few days.

Your strategy is somehow my strategy too if ever I want to day trade. I'll choose those that have lost a lot in terms of percentage during the same time frame for a day or week.

Yes, those who don't want to wait and instead they're wanting to get some quick profits.

Everything is listed already and the next challenge is on how to stick to the plan in all circumstances. Because usually, people had changed their minds depending on the situation. This is the most common scenario in the market, our emotions badly affecting our trades and gives us no good but losses. That is how important to be consistent with what we are doing and never change what we have planned at the start otherwise, we will be going nowhere and come to a losing ends.

daily trading techniques when using indicators, we must know the weaknesses of the indicators we use. therefore I agree that a trader uses stop losses as a safety deposit. no one can think where the price will move, therefore we are required to be consistent with the analysis

They can just do simple quick google search or ask the questions here and there is nothing wrong about that., it's an ok suggestion by OP besides the broken language.

That's literally what OP suggests, right.
To be honest, I'm not a fan of no. 5. Unless you are really afraid of taking the risk, then it's okay. But, you won't gain that much imo.

Trading strategies always associate with trading plan and effective tools. While others seems to make a good profits with those indicators like RSI, others look for other indicators that they are used to read effectively. Aside from that, setting up your target profit and setting up stop loss will always be a good way to eliminate emotions like greediness.

Its not always good to follow the trend as sometimes the trend will also be a way to trap your entry because of miscalculations and misleading predictions.

I remember watching tutorials back then in Youtube when I was still into my first days in day trading. I was told to look into some indicators like Bollinger band and I followed what was in the tutorial. Turned out to be loss in the end because the trader in the video bought ADA but ADA that time I bought aren't worth.
It is just up to market's condition sometimes. Indicators are just there to help, but not to make your decisions.

You're begging on all posts you made.

well , for now , i guess forget day trading, just hold many many altcoin as u can, we on altseason mate, there is no need TA FA etc anymore, just look at to many many shitcoin who has dead on last year or even years earlier has comeback with no reason, we're really back to 2017 era, just follow the trend and  as long we not too greedy , we safe.

I agree that we do not need to focus on day trading as per the current trend of crypto markets. Not just altcoins, bitcoin is also all set to storm in coming days hence being prepared will help anyone to profit out of crypto markets significantly. Day trading is something, most crypto traders are hating always for some reasons. So, I too never consider it even if any proven strategy available.

Day trading might be profitable for the traders who are able to watch market at least for continuous 10 hours and for all others just holding will do the job.

I admit that now HODL coins are indeed better, which we consider profitable compared to day trading which is much more risky.
But not all altcoins are feasible in HODL, I think TA and FA really need it. Because there are shitcoins that just don't belong in HODL.
So I prefer to choose investing in high volume coins, besides being safe for HODL, high volume coins are easier to sell. But altcoins
don't need to hold too long, because if we are too greedy and postpone selling our altcoins even though they are already profitable.
Then we can miss the opportunity to make a big profit.

Of course not. Every strategy has its shelf life. We all learned that from forex and from other types of trading. Crypto introduced extreme volatility which made it super attractive for 100x leverage gains from tiny moves but on the other hand,,, it also caused a lot more people to lose money quickly. Other than for reasons of greed, it was mainly because of the strategies they stuck to. You cannot keep using the same strat otherwise everybody makes money and we all know. For someone to win, someone else needs to lose;)

Choosing your coins based on volume must be a practical approach to make sure that we are getting into right coin. Honestly, I'm not seeing big volume is happening in most of the altcoins still they are getting pumped more frequently and at the same time reputed coins are always rank top with high volume in last 24hrs criteria. Little confusing yet effective as per filtering out strategy.

Some altcoins might be profitable when you are opting for holding very long period but you need to be lucky enough like how dogecoin kind of coins are doing lately like it was assumed dead at some point of time but suddenly got bumped to the moon. So, anything may happen.

anything can happen in crypto and I believe that. Dogecoin was influenced by Elon Mask. Doge's life is on Elon Musk's Tweet.
several times I have benefited greatly from Doge because Elons kept talking about Doge.

Nobody expected Dogecoin to be able to reach the high prices it is today. Dogecoin became a successful Coin meme that shocked the whole world. More and more people are getting into Dogecoin.

With high liquidity and fast movement Doge can also be chosen for day trading or used as long-term trading.

I guess both will be highly dangerous with respect to the current scenario of dogecoins. Moreover I never recommend any coin for day trading regardless of it will be backed buy any billionaires or just by its actual potential. Just look into today's markets of dogecoins, it seems both bulls and bears were got trapped because there is no clear trend right now even I tried with my usual technical analysis.

At the same time, I'm not ready to invest into dogecoins with the long-term plans because anything may happen like those billionaires may not come back to dogecoins forever; anything will be possible hence I am just staying away.

I am one the best loser when it comes to day trading. I ended up losing huge money in this gambling, though there are many who are in profit by doing day trading. It's like playing with wild fire, you need to be expert in handling the fire or else it will take care of you.

You don't need to be an expert, only you need is to be strategically wise and be committed to what do. Well, of course, we can't simply ignore some instances that even we give an effort and trying to catch all the strategies but the result still at loss, then this means trading is not the right place for us.
Yeah, a lot of people tried but unfortunately, not all of them succeed. If we find no chance, then we don't have to force ourselves instead. 

Absolutely, yes!
Profit is what we aim for and that is why we need to find strategies that could help us to achieve our target. However, it wasn't an easy way, it really needs effort and hard work to find those things and more experience. And besides, we can't even escape the time that we lose our capital. To say that the life of a trader is not easy that is why only a few people had succeeded but many we're gone at loss. And that be so hard if we don't have a concrete plan to follow. 

No indicator stands alone in a trade. There's always a kind of combination of them to know where the market is "likely" headed to. The trader who told you about BB must have used it in combination with another indicator(s) but left out mentioning it to you. I use BB also. But it isn't for trade entry or exit. I use it to kind of chain the candles so they look organized within the chart. Even as someone who relies on "leading" indicators of lines like pivots points and trendlines to guage PA, I still look out for support and resistance on combination. So, I believe other traders do the combination too whether they use lagging or leading indicators.

Day trading gives us real-time results and our psychology is not too played, because every profit will be obtained every day. close orders every day. I usually have a minimum target for day trading.
Day trading also needs to be adjusted with coins that do support it. Doing the analysis first is very important so as not to get stuck on slow moving coins.

I think the crypto day trading strategy we must have is knowing when we will close the trade because many traders forget to close their trade when they see the profit become bigger. You can enter the market anytime, whether when the price starts to rally, sideways, or at a downtrend, but you will doubt to close the trade. You can analyze using many indicators, using TA and FA, but you can greed anytime and do not want to close the trade as soon you reach your target sell price. So knowing when you must close trading is the key to better trading.

Having a strategy that gives you proper signal on the direction of the trend would keep you profit margin more realistic and consistent. Maintaining a simple and easy to interpret chat will make your analysis accurate and in time.

Sticking to a strategy that delivers most of the time is most preferable. Market will always play with our emotions no matter how good you become. But if you analysis is right stick to your trade and always adopt risk management such as applying stoploss so has to cut down the losses

Hopefully you're not the only one who had bitter experience with daytrading. I am sure there are at least 90% of this community might having same experience if they had tried daytrading. The only chance for the people who could get chances to escape from the dangers of their trading must be, they probably never tried for day trading in crypto.

You refer greedy traders? I guess if you're greedy while trading then you cannot make profits even in long-term trading so there cannot be an exception in day trading.

Yes, we both know that happens to greedy traders and sometimes, we are those greedy traders. That will not works if we can not handle our greed and we only miss that profit many times without we can make it if we do not realize that we should take profit when we can. If you're greedy to become bigger, you will not make a profit in trading no matter what strategies you made before.

At the same time, I'm not seeing becoming greedy is not that harmful when you're into long-term holding/trading. Being greedy is definitely harmful for day trading but while people are adjusting target for our holding, most people are profitable along with their greediness. Probably it seems being greedy in long-term holding is good thing.

I was also too greedy while day trading but I slowly controlled my habit of getting into day trading as these days I am focusing only long-term holding.

We are greed when we see the profit become big day by day to make us want bigger profit and not do something with the coin. Being greedy in the long term is also dangerous because your emotion wants to make a bigger profit and still hold the coin.

I think you need to prevent greed in the long term because you will not take your profit but still hold the coin without knowing when you should sell it. If so, how you will take the profit if you want a bigger profit.

Yeah, day-trading is known for testing our emotions hence strong strategy is always needed to stay within our strategy. I guess it would be too difficult to develop a strategy for day-trading particularly so that that strategy will get us profits across all kind of market conditions. We are all aware of how frequently bitcoin market goes ups and down even in 12 hours or 24 hours. So, if we are not having strategy then we may not protect our capital.

I am just using RSI based strategy for my day trading. I feel it is too hard to explain how I am customizing it for my needs. Still, if I get an entry then definitely I will book profits but it may give me signal once or twice in a week of time.

My own day trading strategy is more of analysis of the previous day candlestick pattern to give me a clue of the direction of the new day candlestick coupled with RSI to indicate oversold and overbought areas, the signals doesn't occur quite often but the few ones are very effective however  I don't rely on too much indicators because of confusion and conflict coupled with their lagging features always result to losses

And I to confirm that it was more effective than the other trading tools.
I use this every time I do trading, this gives me some insights for the possible steps next to happen. But of course, we don't be expecting it will go that way. That we need to adjust depending on the market flow. If we are not able to read the candlestick that is very difficult to understand the situation.  

There are many crypto day trading strategies in the market, but I will like to show you some here:
• Information: If you can pay attention to the market price information very well, you will be counted among the successful investors.
• Competition: Competition is another strategy many investors use to improve their trade.
• Advertising: Advertising is another strategy some users pay attention to, for them to know the good project on board in the market.

Strategy is an issue on which maximum profit counts. And strategies fluctuate from person to person. There is a bunch of anxiety in day trading that is not currently in the hold or long-term trading. It has to be extremely active and has to be analyzed hour by hour. And whoever's strategy is confidential. However, if exhilarating, trading does not operate.

absolutely right, and we only focus as long-term holders. because there are many other activities out there that become daily activities. but there is nothing wrong for those who have a long enough time to become a profitable day trader. all with their different activities but still immortal crypto traders. at least have crypto assets for the future.

I want to find out what exactly you meant by "losing everything you earned". In my opinion you only lose everything only if you are trading with "future or Margin" but not Spot because the of token or coins you bought still remains just the value that will depreciate for a period.

There are different approaches are available for day trading; you do not need to be spending long hours for all types of day trading but only for scalping kind of continuous trading, you may need to spend long hours for trading.

If you're good at technical analysis and when you have accurate entry and exit levels then you just need to trade only for few minutes. Because, with limit-stop-loss orders you can place orders in advance and the rest will be happening when market meets your entry and exit levels. Still, time to time monitoring is recommended but there will be definitely no need of continuous monitoring.

I'd find no accurate and perfect timing in the crypto world but at least we are near to the possible outcomes.
And we don't need to have these all strategies to get succeed because the most important is how good we are in analyzing the market situation. This is a big challenge for the beginners, they'll find it hard to understand and that is why we often seeing them losing. And we don't have any escaped from this even though we already have the advantage as this is the normal possible scenario to happen in trading.

I have always followed and looked for many commercial strategies, especially my favorite theory, which is the teachings of Wyckoff's philosophy, and in Wyckoff's academy the teachers only do "Scalping" to feel the adrenaline and show that they are not wrong in their analysis. . To do short-term trading or "scalping" at least for me means knowing too much to reach that level, it is knowing the market before any eventuality.

I do not do "scalping" because I would be gambling and it is not the idea, because if I enter to operate I must have my security almost 100% to take that risk.

That is why I do not see that it is so advisable to operate in so few minutes because it is more likely to lose than to win, in addition to trading scalping mode and having a good profit, you have to put a lot of money for have a big profit.

This strategies actually as far as I can see is only applicable for the experts. And of course, I am not belong to that experts level :D
Although, I do trade for a couple of years now, but during all times that I made a trade in the end or every month I made at least a nice profit, it's not the big but it's enough to sustain my all expenses for the whole month.

For years, you are able to sustain to be profitable with that strategy? If so, then I must copy you. This is something new because I never heard anything about trading only at the end of the month kind of strategy. You are just inducing my curiosity. We not you take time to explain your strategy so that people who are in need might be copying that and get out of their all frustrations.

Because, if a strategy which is helping in making profits in relatively in short period of time still consistently making profits for years then definitely must be a good one.

Most skilled traders would use a mixture of these strategies to maximize their profits. Each strategy, however, has its own advantages and disadvantages, and therefore, all investors must do their homework before deciding which of the three to follow.

Because of market fluctuations, the scalping strategy is best suited for trading at shorter time intervals. When day trading, you are likely to use a scalping strategy many times per day. Swing trading is more popular for those who don't have a lot of time to closely monitor the market all the time, while position trading is effective with a deeper analysis and positions for a longer period of time.

Having the right resources to test these strategies and backtest them on a real data set is the key to succeeding at any position. You can test an idea in your head first, but the most reliable way to profit in the cryptocurrency market is to put it to the test on real data from a cryptocurrency exchange.

I agree and moreover everyone will be looking for that kind of strategy because when you are having something which is time efficient as well as making profit means then there will be no other reason will be existing for anyone to skip that.

All the above, I may not look for short-term based things because I am comfortable and I am ready to trade even for long period of time but I must need consistent profits. Because, when you will be having multiple trades at a time then time is not a constraint but only having accurate target hitting things will be the biggest concern.

The only way to get over this strategy or to be successful is by holding, I have choose this factor and it works for me but it takes a lot of time to rise up again after a week fall, I never really looked at the rsi or any other indicator but so long as the prices had fallen for about two weeks, I entered such trade. These i noticed,
1. Immediately spike occured after entry
2. The token keeps falling drastically
3. Remains stable at entry price for long period of time.

The only way to overcome this fear when it falls against you is holding, I have missed out of such good enter because it takes longer time to rise to the peak, I have bought PSG token when was at $6, it remained at that price for 3 weeks untill I would out because it seems I was wasting my time holding shitcoin., it rose to $45 as ATH.