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Hello I'm going to make this as a topic since I just want to share some knowledge for everyone that considering making a life by being a day trader in crypto.

Since you visited this topic I'm guessing you already have an account on some crypto exchange like binance so fast forward to the topic.

So how to be a day trader?
1. Setup your budget - you need atleast $200 (think this as a tuition fee to learn how to trade) to start with. This can give you a lot of capabilities to workaround the sweetspot of trading.
2. Learn how  to use the right leverage - In this one you're using your funds as collateral and you're basically borrowing from the trading platform your using.

• Setting a high leverage means you're increasing your profit potential and quick returns but setting it also has a downside which is high risk of loss and your funds can be burn due to liquidation
• Setting a low leverage (2x or 5x) means low profit from it but you're minimizing your risk facing a losses and also it allows you to focus on long term growth as a trader

3. Use the right indicators for you - This one it depends what will work for you but let me tell you the basic indicators that I use as a daily trader.

• MACD Indicator - This one has been effective on me, I've been using this one since 2020 you can lookup and watch some videos about this indicator. I suggest you use this with the coin with a minimal volatility. So you can setup a position if you'll go for long/short. 
  
  • This indicator is a powerful tool that can tell you identifying potential trend reversals.
  • It's also simple and Visual friendly since you're just looking for a two lines that crossing together from time to time.
  • This is helpful also on Identifying the trend changes or change of momentum with the price

4. Using the right graph - I suggest you choose the candle sticks so you can see the patterns that's being made and put it on a 4h time frame. regarding to the patterns you can look it up also on web so you can study different kinds of candle stick pattern.

Once you get used to it invest another $200 as a starting capital. Remember the first $200 funds you used for is for studying trading so expect to lose it all at first so stick to low leverage so you can utilized it and learn a lot from it.
Setup your target income per day for me I'm currently happy making $300 a day since it covers my daily life essentials and needs I'm living outside the US so the cost of living in my country is pretty cheap and $300 is a lot already.
Also Setup your target loss per day for me I'm okay with losing $100 a day but that's it once I lose that $100. I will go outside and get some fresh air and come back once my mind is clear again remember once you're losing you tend to increase your leverage which is bad It will cost you a lot.
Trust me I've been there before.

So that's it, hope this will help you from being a future trader. Good luck!  ;)

After all, you have a very good plan and are also very constructive enough and I would have even merited your post if I have extra merits as such like this is what I like to read in this section of the forum. However, the lack of a plan, trading ideas and budget are not the main reasons why traders do not make it but mostly emotion and poor money and risk management. I discovered that no matter how good the plans are, traders tend to deviate from them when emotion sets in as a result of some challenges in trading when the market did not behave as planned.

Aside from that, you've done well and traders should know that your plan is subjective. They can adjust the amount depending on their level of trading expertise, goal and the standard of living in the country they are living in to make the outcome of the plan worthwhile.

Thinking of making income from trading and encouraging people to do so is very wrong and you are leading newbie traders into depression and huge money loss. People can trade with just the amount of money they can afford to lose because trading is very risky. The riskiest among them are scalping and day trading, especially if you use leverage.

You can even use less than $10 to start trading and see how it works.

The lowest leverage is 1x which is good as it makes the position opened to be of low risk.

There are many other indicators that you can use. Examples are MA, EMA, BB, RSI and many other ones that someone can learn from.

You did not include money management and having trading plan and budget.

You did not include any strategy.

Trading is more than what you post.

This is a trading discussion board right? So I think I can share some knowledge and there's nothing wrong encouraging someone who wants to make a living by being a day trader. the $200 is the budget I used for futures trading before and it actually helps me a lot when I was starting before since you can make an errors when you're new to trading that's the reason why I said that think of it as a fee for learning something new just like when you're going to a university, you need to pay to earn some knowledge.

This is just a small step for being a day trader so I think nothing's wrong with it? Regarding the indicators there's a lot they can use I just share what works for me up until now.

About the strategy they can learn it watching a lot of videos about indicators and patterns

Thanks! yes they can adjust the amount depends on how much they afford to lose and depends on the platform they're using. I just indicate the amount I used before when I'm starting on futures trading. They can use this as a reference in case they want to be a day trader like me.
I also want to know what do people say about this and maybe share their strat so I can gain some knowledge that I didn't know in day trading.

I hope you add a big warning, leverage and day trading in cryptocurrencies is considered one of the most dangerous types of trading and it is difficult for a beginner to make a profit with it, you should avoid investing in it.
You can start trading in demo accounts, where you do not need to deposit money or lose $200, and then start learning spot trading, including day trading, and then decide whether you want to increase the risk level or not, but in general you can make a good profit from spot trading.

Leveraged trading is an option for professional traders and should not be recommended because it can make profits for beginners, it is a real loss.

Even day trading is not an investment.

Demo account is not necessary because you can open future trading with less than $10. When I started, I used less than $2 to see how it is working. Among all exchanges that I know, I only saw demo on OKX and which I do not like how it is to the real trading look.

Some traders are not professional and continue to lose in trading. Trading is very risky like you said.

I haven't got much experience in day trading. Especially in futures trading. I do not deny that I have also ever traded on the futures market. And well I came to the conclusion that I wasn't ready. Because to enter futures trading, I think we have to have a pretty good level of analysis. And it would be better for me to become proficient in spot trading first. if i was pretty good at spot trading. then maybe I'll consider trying futures trading again.

Thank you for sharing futures trading tips and strategies here. I hope I can also become a reliable trader like you in the future.

Haha whether it's low or High the leverage sucks, in my view if you have lower capital then try to hold your funds in good assets it will take time to build a good portfolio and capital amount but it is the safest and most efficient approach. I use to recommend to my all fellow to avoid Levrage trade even if you have a decent portfolio and capital amount. You should follow the slow and straightforward path. Shortcuts are not good for your funds.

In future trade, the trader only learns about profit making which is our main goal as well but sometimes a single wrong trade can evenly destroy your trading career and I have seen people committing suicides on the wrong trades most of the incidents were reported on the Luna crash.

More evenly sticking to the topic whether than giving my views on the Leverage trade point is for person who has 200$ cant be recommended to trade in Levrage lose all.

It's worth it from your personal perspective somehow detailing the trade, but for someone from a certain economic base it's actually too expensive. All exchanges with futures trading almost entirely allow the minimum amount to open a position to be much lower (average $10).
I think you just need to mention the minimum cap requirement for the average beginner, or change the word "you need" to "I was", because after all that number is not a fixed suggestion.

It's Quite impressive to see a NEWBIES put out good stuff like this, this just made me remember this week MONDAY i had a loss of $21 from a small account i am building up, what i did was seat back and check what made me loss on that trade since am a swing trader, and when i found out the error i just took a deep breathe relax and look for clear setups and this time i hit it with 0.1 LOT SIZE without thinking twice if am wrong or right and boom it was a nice trade. That end my day trading... loss was recovered.

I think $200 is on the high side for start ups. So what happens if loose the first, second, third, fourth and fifth $200 each, that means he would be loosing $200 x 5= $1,000 , before even crawling because he is going to loose plenty more of it before he gets to his feet. Or how many times did you lose before now?

MACD indicator happens to be one of the difficult indicators to trade with and to teach it to newbies is more difficult. Traders who share trading experience usually do that with RSI or MA.


Yes I agree with this 100%


What about he didn't get use to it and have lost much of $200 by funding of his lost account.


You are cool with such level but teach newbies the most simplest ways that they can grow with. I guess you didn't start this big.


I thought this would be a disclaimer not to be a financial advise because trading platforms also do warn of the risk in trading. You can keep losing all your money without getting anything back. That is trading reality.[/list]

Well, I believe that getting success in trading comes from a good plan and strategy. Yes, you have shown it right and it is good. Well, when it comes to budget plans or capital, it does not necessarily have to start with big amounts. Maybe you are pointing out that $200 is the minimum, well, I can say that it has a huge impact when it was compared to when we use a small amount. However, I don't encourage this for newbies as they are still learning but if you are already on what we say that have long experience, that seems reasonable and advisable.

I won't rely my trade in indicators because it will only depend on the previous price movement and it's a little bit laggy. Instead, you should know how to read the market using price action only. Price action must be your main strat and then you can add those indicators as confluence. For beginners, it's a highly recommended that you didn't use high leverage, don't fall for potential profit because the risk is so high. It's better to use low leverage so that you can survive in the long run and you can master what strategy that is really works.

OP, You shared a great trading plan for those who already have skills and experience in trading using Leveraged. but it is not recommended for beginners. beginners who may have good capital may be okay with losing their initial capital to learn to trade.
I think spot trading would be better for beginners to understand the concept of trading less risk. but you have shared something good for you. it is possible that if you are a trader trying to copy your habits, they will also match your trading strategy and method.

This stuff you started is a good read. Thanks for sharing your insights about day trading. I agree with others who say that a heads-up for beginners would be helpful. From what I read, this post is more for experienced traders who are into spot trading and want to try futures trading. I prefer using candlestick patterns rather than other indicators. It would be cool if you could also talk about the patterns you use in your trading journey.

I am new in this forum and still learning. I’ll try to edit this topic and add some disclaimer on it later today. I didn’t know that not everybody here is already know how to trade since this is a trading discussion board so I assumed that everybody already knows that trading is risky. I created this topic so we can all discuss our own opinion and what we’re using to get a good portfolio in trading.

Are you suggesting someone with low capital to take high risk way called leverage trading so they can get more returns but I am completely against the idea unless the trader is having $1000 extra to back up if he lost while leveraging. So I want to enlighten that this kind of trading will not only amplify your profits and also the losses which means no one should try it unless they are capable of pay back the loss.

Instead of taking the short cut and make some huge money in short term with high risk I think the better alternative is to stick with the low risk spot trading still anyone who is having goof trading skills can multiply their capital in no time and also low risk means they can do it at their best of interest since no need to worry about paying back if they loss. So over time gradually they will be in a better place financially.

Future trading can indeed be a source of income but not for beginners because they don't have enough knowledge and experience in trading. And it is not recommended for beginners to try future trading before he understands the concept of trading in crypto. Maybe beginners can be advised to learn through a demo account until they can really trade, and then they try to trade. And they can try using spot trading before trying future trading.

And using $200 is enough to trade the future, but it depends on your skills in choosing the coin. Usually, we will choose the coins in the top 10 list but if we have skills in analyzing the coins, we can choose other coins to trade.

I'm waiting for your lesson about future trading as it seems you are already familiar with futures trading. And maybe you can tell how the selection of coins is, what it takes to find coins to trade, etc.

This is not the case, but you are not only talking about trading, but daily trading with leverage, which is very dangerous for those who have a background in trading, let alone beginners who may read your post.
Also, updating your post with some pictures will be useful, although I advise you to start with regular and daily trading instead of using leverage and margin.

This is great but I'm not sure this will wrap everything you need to become a daily trader, you will end before starting because this is a random basic introduction and some properties of trading, there is more to trading and you wouldn't understand everything until you start trading live, the things you read on the paper might will be forgotten when that emotion comes into play.

In fact, I'm not sure how you were going to survive future trading with all these indicators when they are not enough to guide you on spot trading, huh! is there magic to your advice because I don't see how you plan to open positions and close positions when you didn't explain leverage, PNL, the risk, liquidation price, the entry price and the margin types, you need to learn all this before you give your money to another trader because basically, that is what future is all about, you bet that price will go up by longing while others short with anticipation that it will go down.

You can share the information with your trade OP for example, updates with your current trade, sheets with your margin balance, positions and take profits. Im fan of the MACD too I created a topic before related into it because its ideal too for newbie traders [GUIDE]Moving Average Convergence Divergence (MACD) (https://bitcointalk.org/index.php?topic=5255303.0) when I start this trade I trade with the $500 for capital and make a whole day trade not as always have a profit but its good to have end of the day there's an accumulated gains. Beside this I also make a long which takes almost a week to hold, I made different accounts for short and long term trade so I can track the winrates.

I don't know what your interest is in this, but this information is very useful. Any newcomer and not only I think should get acquainted with it.
It's great that there are people in cryptoworld who care. This information can save a lot of time, money and nerves for newbies and beyond. I especially liked:
1. A person psychologically prepares himself for the fact that he actually invests the first 200 dollars in his training and experience and is not afraid to lose them
2. A very good idea is that when you have lost some money, for example 100, it is better to pause and not go further, get distracted or you can lose even more.
3. Limit on earned and lost money per day is a very useful tip
Thanks to the author! I like it

Of course, there is not enough information here to fully trade. Here are described the basic concepts for people who do not know where to start and not immediately lose all the money. I agree with you that no knowledge can replace practice, because a lot of knowledge is lost when a person starts trading. But what this man did I respect and I like it. He gave a small part of the knowledge necessary to start trading. This is only a part, but in parts and the whole is assembled

If you are earning $300 a day then you are earning more than an average middle class family. It's a pretty good amount.
But if you are okay losing $100 a day then your risk taking capability is high and I guess this is why you are able to earn so much.
Coming straight to point, can you show your trade history so that we can actually believe what you are saying is the truth.

One of the things I can say will be strange to me if I see it is to see someone trading or making technical analysis with lines or any other thing asides candle sticks. Most traders that I have seen charting mostly make use of Candle sticks and not Lines which you can actually change your trading view to. Candle sticks are easier to understand in trading forex or cryptocurrency. Lines can be used when you intend to make comparison between the movement of two things in the market, Lines give you better results then.

Both lines and candle sticks are important in trading analysis. Different traders analyse their chart with different indicators which lines is also part of. For a trader who relies more on lines, he can use those lines in support of candles to see the areas of support and resistance. If the line and the candle sticks either form certain alignment or a particular signal like the candlestick closing below or above his line, that can give a sign for a direction of price.

You told exactly correct. I am huge losser from here. Because i have little knowledge about this day trading. I think it is future trade. Am i right? My friend informed me about future trade, and he told me to follow his signal he also collect this signal from paid telegram channel. And first trade i was lost $500 within 12 hours. Because there was no knowledge me about this trade. My trade was 25x and after my trade start market gose my Against and it was continued. But I had no idea about TP/SL . So i Lost my all fund. Even every time I do this trade it goes to zero my all fund. Some times i made $20/$30 but Again has been zero.

So now i am avoiding this trade. And i am trying to learn about it. If anyone want to give any advice about please give me. And if i get any useful link about this it will be very helpful for me.Thank you.

You are a newbie and you are able to post on this trading discussion board. That should be an evidence for you that other newbies can also post on this board. Also that anyone can go through the trading discussion board and see your post.

If I should be candid, it would be good to show everything that is needed to know. If you are talking about leverage trading, you have to include that people should have risk management and not spending more than their trading budget which should not be more than 5% of the money they are earning.

Trading is like gambling. I am not saying this because I think. It is because I have been a trader for almost 5 years and I know what it should be called and how people need to be warned and cautioned before going for future trading.

You have made some good points in your post about day trading which can be very useful for new traders.Indeed MACD indicator is very good and powerful indicator. I myself am trading through this indicator and it makes it very easy for me to take trades.Therefore, using the right indicator plays an important role in taking a good and profitable trade.I have watched many videos about MACD indicator which helped me a lot.

You are right that even through the graph we can take a good trade and if we keep the candlestick on the 4 hour time frame, it can help us a lot.With this we can take a good trade by looking at the support and resistance.By the way, there are different time frames used in day trading, but I think your 4 hour time frame is the best because it gives more accuracy.

It seems you have studied it properly and that’s why you like it and talk about it enthusiastically. I do have couple of trading enthusiasts friends who gave their life in learning it and also made the career out of it. They are very successful and mostly focus on the day trading portfolio. One lesson to learn from them and you is to know the correct budget, leverage and technical skills to work everything altogether. Without this one can not really establish a proper trade to routine and might just end up losing all the time. Definitely worth for those who are looking forward to have a career in the same.

This is the discovery every trader must experience to succeed. Because the real battle doesn't start with your plan. It starts when you're sitting in front of your screen. There it will start the fight with your own demons. Your fear of missing out, greed, impatience. All throughout while the market is still open.

As you grow being a trader, it will be more difficult and more challenging managing your own emotion as relates to your positions.

I am very curious how your strategy is to earn $300 per day and also how much capital you use to trade? Don’t say that you take a small profit margin by doing a lot of trades every day because I’m sure it will make you spend a lot of time in front of the computer and will have a little time left to do anything else.
I’m not saying trading with the goal of funding daily life is impossible, but it’s not an easy way to make money, there are a lot of traders who think it is possible, but you should have enough time and capital so that you can really fund living from trading.

you have a point there. I'm wondering what OP portfolio looks like. it seems that OP's trading with different coin to gain that amount also I'm guessing OP capital is already huge to earn that amount but let's not forget that this topic is subjective.

It is not difficult for op to make such kind of profit daily if he knows his strategy and wants to go all in with the gains. What he needs to do is to increase his risk appetite like 5x or more and that could give him the reach to target faster before the volatility hit on it. However, this is serious risk though depending on the account size but I know many traders who increase their lot size and scalp out some huge profit faster. It is all about the strategy we adopt to get to our target. Taking a fast profit by increasing the lot size makes you not to stay on the screen a long time but we need to be careful on it and of course to use stop loss.

Day trading is not as easy as you are thinking about it because I definitely know that if you are a trader, you are not making that amount daily unless you have huge amount of money to use for trading, but not possible because the same trader will have days that he will be losing too. No trader is 100% accurate to be making money everyday. That is not possible.

Honestly the OP think relying only on MACD indicator without considering the fact that some of those indicators lagged in Live trading in some cases Price reversal had already commenced when some of those indicators signals buy or sell, Candlestick patterns are the real indicator couple with Ema for trend direction and RSI or Stochastic Oscillator used to determine overbought and oversold of the price, Moreso the OP should rule out using high leverage for a new trader just to earn massive profit in jiffy ignoring the fact that a price reversal will liquidate their account completely, trading is not a get rich quickly job but a long term profit earning venture a 2% to 5% monthly profit is enough with a huge capital.

So many people love day trading because it provide quick money than holding,but one thing I cannot do again is day trading,because I don't have all the time i need to focus on it because it requires monitoring,and if you aren't available to monitor it,you will definitely be on the losing side.I have been a victim of day trading,and only those who have experience in it will be able to make a decision whether to do it or not,but for me,I decided never to waste any money in day trading again,rather,I will invest it in any other thing,or possibly hold for future purposes,atleast there is no much risk involved in holding,the only virtue one must try to possess is patience and endurance.If you can wait for a longer period of time,there is every tendency that you will not cry when the result comes out because it will always be positive and not negative.

Trading requires time for your analysis and yes, day trading is requiring you to be more active though it will always depend on your availability since the market is open for 24/7 and you can adjust your trade with it. Making life with trading means you are able to make profit out of it and honestly, its not easy but once you master your trading strategy its possible. Features seems to be one of the fastest way in trading to make money but of course its one of the most risky strategy in trading. You must be ready for a possible outcome of your trade, or else you'll be liquidated.

Well, 200$ is good enough to start trading, I even start at $100 before and gradually increase it.
Well, talking about earning daily from that amount is not impossible but it was hard. Maybe if you have $500 and above, definitely the chances are big. However, earning every day from trading is not just solely because we have huge capital but also, because it depends on how we manage our trades every day - strategies and decision-making. These are big factors that contribute to the results of our trades because it was still impossible to earn daily if we are ineffective.

Hmm, it's possible with the 200$ to make up for the 50$ at least because as OP is going for the leverage just take more risk using more leverage. But it's not recommended at all and I don't even recommend the Leverage trades, Just go for the spot. Besides recommending I use to say that you should not trade on leverage try to focus on the spot market trades, make small and consistent profits and gradually increase your capital investment.

That is much better than the leverage trade, more safe, and recomended.

Trading with leverage gives you opportunity to make you gains larger but you need a high risk appetite to do it since it's very risky for people who don't have enough knowledge and experience in futures trading. I started with spot trading also and I do recommend it for those people who don't want to spend time staring the chart on their screen. You can make a profit also in spot trading if you buy before bull run just like this year we are on a bearish market so investing on some reputable coins will make you money 2-3 years from now once the bull market come again.

Leverage trading will be more risky when using greater leverage, requiring a lot of calculations and analysis for that, if we are not wise in choosing the lot used, it will be closer to experiencing a margin call, what often happens is emotional indulgence, so using uncontrolled lots, this is what often happens when trading, even many traders still make the same mistake, it would be safer to use spot trading

If a trader does not adhere to the risk management system when trading with leverage, then sooner or later his position will be liquidated. But even using such a simple tool as a stop loss will help to avoid liquidation and significantly reduce the risks when trading.

It is so indeed. Trades with credit leverage require a lot of experience and understanding of what is happening. Even having vast experience and being a strong trader, you can get big problems using leverage.
Using spot you will not earn as much as you can with leverage, it will be less but possibly more stable and in trades in which you lose money, the losses will not be as large as with leverage. Spot is more secure

trading with leverage I believe is done by experienced traders. they know the risks are bigger than spot trading. but surely for now there are more day traders who do trade with leverage.
even today, those who are just learning to trade are attracted by higher risk trades than spot trading. however nowadays we can see how the interest is increasing from the public regarding crypto trading, be it spot or leveraged. if you teach trading to anyone, first explain the risks involved. not an easy way to get his profit.

It is not right to try to achieve anything overnight, we can never change our position if we want to change our position in a very short period of time. To change one's position one must have enough respect, devotion and respect towards one's work along with a lot of patience only then one can reach the desired goal. If trading can be done by understanding the market in terms of changing one's position, then surely it is possible to earn something good from trading which will help to make the future beautiful. 

Day trading can definitely be the best choice for a trader if that person understands the market by following certain rules and having enough knowledge about the market and then engages in trading.

In case of day trading you forget that you will get profit every day, in case of day trading if you gain one day you have to lose another day but you have to accept these things. If trading can be done by accepting these things then surely something good can be gained from trading.

Your views in learning trading is good but it's obvious that nobody can learn trading perfectly but during the process of trading you have take observation and follow the procedure and ensure that the precautions has already been taken, but make profit in your trading you have to learn and understand the movement of chart..one of the things that make some of us to not profit in trading is inability of understanding the movement of candle sticks, so therefore understanding the graph chart is what will determine your profit in trading and also your lose.

Trading has many risks and it is not for everyone. Day trading on the other hand is quite difficult. It is not as easy as long-term trading. You will have to learn it from the ground up to the top. And with that knowledge, you will have to gain experience too. If you don't try it out on the field, you can't get familiar with it. And if you don't do it by yourself, you can never become good at it.

I don't think everyone can afford to invest $200 in trading. If you are coming from a 3rd world country like me, then that's a good amount of money. I don't think everyone can afford to lose that much. I am saying this because you said that it's a learning process. If we are learning, we can use much less than this. That will be a good idea. When you lose that much amount at your first trades, you will lose hope. So make that less and learn to lose first with small amounts. That way in the future, big losses won't affect us emotionally. Other things I can agree on.

In any business, if a profit can be made, there is also a risk of loss. It depends on our skill, experience and knowledge how much we can reduce our risk of loss, and how much we can improve our profit rate. Even in day trading, it is not necessary that all our trades give us profit. Our trades may be wrong and losses may occur, but we need to improve our profit ratio through our experience and analysis. All the tools used in day trading and information about chart volatility can help us improve our trading. Day trading is definitely difficult but if we try to learn with interest and hard work we can get good result.

Trading is very complex and not the way we are seeing it. There are people that had lost so much in trading and the reason is not that they don't know how to trade but I think it is mostly based on luck and how we position ourselves when we trade.

 There are people that are even making more money in trading than there sponsor or tutor. This is a game of challenge and playing along utilizing what we have learnt so far. I see trading as a thing that even need more concentration that we need to do unless now that programmers keep developing bots that can trade like humans although this kind of trading has some limitations which is not 100% correct.

Theoretically, this is quite doable. But in reality, this is really risky, and not everyone can do it. It cannot be denied that the profits from day trades can indeed be considered quite profitable if we really understand a number of things related to daily trading. At least we understand the knowledge and its application, including some of the management that influence trading. However, this is not guaranteed, because day trades carry a higher level of pressure and risk.

Not only that, our intensity to analyze the market and also monitor market movements will also increase and must be done frequently just in case the market suddenly changes direction. So that we can immediately move quickly to implement new strategies at times of urgency. You could say that day trades make us busier. So precisely, high turns will always require high risks and efforts. For example, can you ask? Yes, of course you can, but in accordance with the efforts expended as well.

Not always based on luck, maybe luck is only a few percent, but the most influential is the psychology of trading.
Novice or professional traders both have constraints on trading psychology, they will be affected by unstable psychology.

Psychological control is not easy, it takes good flight hours and strong self-control.
I myself have also been trapped in a condition where my psychology is in turmoil when all strategies do not go according to plan and losses hit quite a lot.

This usually happens to day traders, but for long-term investors, it will only affect the decision of when to enter and when to exit so that they can profit according to the initial strategy.

I relate to this. I remember before when I'm in a situation that waiting for the price to drop below the resistance and I buy short then suddenly the price goes up and didn't put any stop loss since I'm confident that I'm going to make a lot of money overtime it's really hits me hard. That's why today I usually do some strategies and analysis with my friends so we can talk about what we think we must do. It's really helpful for someone who always hesitate on own decision.

This reminders that you had made here was absolutely good dude, but you didn't give a warning to everyone who will enter the crypto trading or day trading is not an easy things here
Especially in doing leveraging or day trading, because as far as I know doing day trade is most of the time are the scalpers and have a deep knowledge in trading skills or reading tools as well.

While in leveraging too is also has a high risk if anyone don't have a lot of idea on this matter here in this industry. Or you just forgot to remind those who will get interest to do trade here in the crypto space?

There is no substitute for learning to make a profit by trading. Every moment a trader has to learn about trading. A trader needs to understand the trading charts well, observe the candlesticks, observe the movement of the market according to time, and when a trader can do all these things well, his chances of profiting from trading are very high. I am not saying that he will never get hurt if he has enough knowledge about trading, no matter how much a trader learns he can never be sure that he will get confirmation by trading. A good understanding of the market will only lead to good things. We should learn enough about trading and never depend on luck because depending on luck will never be good for your money.

You must not see the bigger picture of the chart. For sure, it broke the resistance, but again, we learn from our mistakes, and if you don't want it to happen to you, then for sure you'll need to put a stop loss on it. Every trader has already had this happen to them in their whole career as a trader, for sure, but what's best about it is that it taught you a lesson. Instead of feeling sorry and regretting it, change your mindset and make it a positive thought because you'll learn a lesson from it.

Luck will never come every day, indeed in trading knowledge is very important and there are many things to learn especially for those who trade daily, but it cannot be denied that in day trading crypto certainly has a high risk even though you already have a lot of knowledge about reading charts and other things about trading science but the risk is still the same.

I think the thing we can do to make day trading is to always be active in search of new listings on coins, usually New Listing Coins have a good opportunity for rising, of course we must have the right plan or profit target to be achieved, if the target has been achieved then don't Never waited again and immediately selling is a good thing, I've done something like this and can develop money, and of course this technique is successful and loss is common.

this market is not a rocket science so experience will teach you a lot on how to generate profits from your trades. as a beginner, you should always use small funds where you can readily accept to lose it. each project has their own features, and as such, you can't use the strategy to others. this is why it is important to learn each coin you want to trade with. learn its background as it can assist you on how to decide your next steps.

Some people never learn from what happened to them, so they keep repeating their mistakes.
An improper mindset may be to blame, as they don't think positively about the situation.

But the most influential is the psychology that prevents them from moving forward.
Too panicked, too greedy, and afraid to implement new strategies to stop the loss.

Like the title of the OP discussion about living with day traders, it requires a strong mentality and knowledge because it will be forced to constantly look at the chart and make fast trades.
If that cannot be balanced, then day traders will fail and give more losses, management also needs to be done.

I don't think so. They are more risky, most new coins right are scams and only last minutes-hours after it is being dumped on the market.
That's not how day trading works, it's kinda a gambling if you're that way.
I highly suggest to look a pair that got good trading volume and also trade on reputable exchange.

That is not really a day trader and it is closer to simply being an investor, as you are looking for coins with potential before they hit the markets or that have been around for a short time and as such you do not really have the necessary tools to trade them.

Still it can be a profitable strategy but only if you know very well what you are doing, however if an investor out there wants to make this work by investing in meme coins and other similar coins then a strategy like this will most likely not work and backfire.

This is going to need you more effort. While there are other pairs that you can do your trades, searching for new listings are also a good strategy but for how long you're going to do that?

Most of the new coins are known to be dumping and if you think that you can make up with that, that's really risky at all when you'll do day trading with those.

The best is to learn most of the charts and how to read it, so whether you get to see new or old coins then you know what you must do.

Precisely so I think it has a higher risk compared to daily trading, coins that have just been listed on the market are not always as profitable as I have seen and even the loss rate exceeds that of us trading top coins.
I think it's better to choose top coins for day trading, and of course before starting we have to learn a lot of things first to avoid losses, if we can implement a lot of knowledge that we have in day trading I think it's quite worth it to do.

MACD indicator is actually not a bad one, I still prefer Bollinger Band over anything else, but if we are strictly talking about good ones, I would put MACD into one of the good ones, much better than EMA which has been not that kind to me and have lost a lot because of it. In the end not every indicator will be right, and even all indicators could show one thing and the opposite may happen, there is never a guarantee on it.

So, if you do high leverage based on indicators, there is a chance you could lose your money very quickly. I would highly advice people to be a lot more careful about what they do, and that should be the most important thing. If you are certain about your analysis, it is better to do spot trading.

Everything is difficult at start but as the time passes you will learn the exact things and will be able to achieve the best results. We cannot say that if one person loss regularly for 2 or 3 times then he will never be a successful person but if he learns about the correction of his mistakes then there is a chance for him to be a successful trader.

Trading is not easy but if once a person visualize the reality and try to understand the tricks then there is not a hard thing to get huge income in return.

We all know that nothing is impossible but we have to do hard for it and if someone says that you cannot do trading then learn well and proves that you can do everything as brain of every human is alike but it's depends on us that how we use it.

It's nice if traders have this kind of understanding. What is certain is that if you want to leverage, they must already understand that this is a very high risk. But unfortunately, many people don't want to understand it and only hope for high profits.
Many newbies deny that there are some hard processes to pass before getting successful in trading.

As long as they want to keep learning and trying to always be better, then this will be good, and a good start. However, not all newbies want to go through this and many even just want instant success. So, many of them are trapped in scams or other types of fraud. others that end up losing money and assets instead.

Congratulations on being a successful day trader, this must have been a lot of work over the years to come this far. Making 300 USD from trading per day is a nice income, after taxes this is still probably 4-5,000 USD. When starting out with only 200 USD as starting capital we need to be more realistic about our return expectations. I don't think for a beginner it’s possible to get anywhere close to such kind of money. It's good to have successful trader share their stories here as many people are interested in the topic of day trading and would like to learn more. Maybe you could tell a bit more about your journey and how you slowly increased your trading capital? For your 300 USD return target you probably now have a lot of money already to cover any losses. Because prices are changing so quickly in the crypto market there is also a lot of risk involved.

Trading on newly listed coins on a Cex or Dex can sometimes provide quick profits. But it can also cause large losses quickly. Because, well, coins that have just been listed on the market will usually be pumped at the beginning and will be discarded a few minutes or seconds later. And I think this type of trading is too risky. So it is not recommended to do if we do not have sufficient initial information. But if we have enough initial information then we can do it. It's just that initial information can only be obtained from insiders and it's hard to get. And I think it's illegal way.

So yeah it's better to trade normally on those coins that are fundamentally strong and have good trading volume.

Major causes on those dumps are investors trying to sell fast because they want to secure their pockets first before anything will do or even the dev will join on the dump to cover up their actions done. That's the reason its not good to buy when they are newly listed since this is the common incident might happen. Although nothing wrong to trade this but we need to be more careful dealing with this coins. But if cannot afford to participate on riskier options better follow those traders who trade old alts or other coins which have great community and volume since they are more better catch.

Undoubtedly, difficulties are faced in the beginning in every field, but with the passage of time, a person continues to learn and his experience increases, then there comes a time when the same difficult things seem very easy to him. Well if we know how to correct our mistakes then we can become a successful trader because man learns from his mistakes.

Trading is not easy but our hard work interest and passion can make it easy. Of course, nothing is impossible, but trading is a difficult task. Even after learning trading there are many factors that we cannot ignore and by following them we can become a good trader. For example, emotions, patience, consistency and nervousness are many factors that we should keep in mind while trading.

I am also learning to get trading for a living, but until now even though I already have theory and techniques and chart reading, I am still at war with my psychology which is still very unstable. even though I know what I shouldn't do, I still get used to breaking it, so it ends badly. I don't know, although I often learn to control myself, but in fact it's difficult and hasn't been successful until now. It turns out that it is not easy for day trading, because you have to master complex knowledge to respond to market movements every day

The OP cited an example of a $200 budget as a starting capital, which might be enough for learning to understand the principles and how it works. But unfortunately, only money will not solve anything in trading without proper knowledge and experience. And in trading, I would not focus on any indicators of daily earnings, because in trading we cannot predict something for sure, we need time and a favorable market for our strategy.

Always avoid choosing new coins for trading. For trading we need to select some coins which are highly traded and have high trading volume. Choosing a good coin before trading is very important to profit from trading. Because if you decide to buy a new coin in the market hoping to make a profit by trading and after a few days that coin disappears from the market then you will lose the profit and capital at the same time so you need to protect your capital first. We can conduct trading activities every day but we have to forget the idea that we will earn profit by doing trading activities every day. No matter how experienced a trader is, the market will not always go according to his expectations. Sometimes if his chart is wrong or if there is bad news in the market then it will be seen that he has suffered instead of profiting like other days so we have to wait for some more time to recover that loss.

Because indeed the most intimate in trading is mental, because it is the most important basis if you want to be a day trader, I think it is the main fundamental for you friends.
And you need to remember that building a trader's mentality takes a long time, knowledge and understanding only affects a little in terms of cycological, encouragement of fear and greed will be greater at the beginning of being a trader, you still need a lot of time to educate your mentality friend.

I don't think you have to immediately switch professions, you should do it slowly with a small margin so you understand how you should be against your market fluctuations and feelings, if you feel able to control yourself well then the right decision for you to increase your time in trading.

Books about technical analysis are very clear, anyone that wants to trade an asset using the many different indicators which have been created needs to choose an asset that has a high volume, this is because if you choose an asset with a volume that is too low then it can be easily manipulated, and it does not matter how good you are as a trader you will never see that manipulation coming.

And we know this is true as there are numerous pump and dump groups out there which take advantage of low market cap coins in order to conduct their illegal moves.

Mentally being ready, feeling cold and robotic, is the best way to trade. I know a lot of traders and I mean professional traders who do this as a job and make a good income, and they all end up trading based on just statistics and nothing more. If you could mentally be ready to trade that way then there won't be any issues and you will do fine.

I think it is important to remember that you are going to end up with a big loss if you do not end up losing money and in order to be better at it you need to focus on how you could trade with logic. Using purely just logic and strategies to make a profit is a great way to make an income and yes there are a lot of people who fail to do that but I think it can be done.

Op, you have a good thread here but it seems that this thread is for expert traders and not for newbies. Your emphasis was much on leveraging and we all know how risky leverage trading is to beginners. Absolute beginners should start up with demo accounts and if they want to any thing real, it should be spot trading.
Trading is actually not for everyone. You may understand that chart and how to trade but psychologically you are not sound, your well being will be affected. The essence of working is to have a good life. So, it doesn't make sense to take up work that will give you money and destabilise your health.

In order for logic to be used, you need a strong mentality, those traders who manage to benefit from their trades are because they are mentally good so they can think clearly in making decisions based on the statistical calculations that are being carried out.

If your mentality is inadequate it will make your logic chaotic, your calculations will fall apart and decisions made are full of doubts, that's where the importance of mentality in trading, because it will make you think healthily and the knowledge you get will be carried out with full calculation without doubt.
If you only look at other people, of course you won't see this side very well.

That is also because not all are emotionally strong, many are easily affected by the market changes and badly respond to them. No matter how knowledgeable we are but if we are still too emotional, it still never works well and is not profitable, instead of losses.
And I would say that trading is not an easy job but if we work hard and practice to be more focused on our goal and keep stronger, everything will work well.
 - consistency, focus, and emotionally strong And if we have these things, earning every day is possible and this is how traders become rich.

Day trading is a way we can make profits from the market trading with a higher time frame but the trade does not last more than 24 hours.
It is called day trading because it is a short range trading for us to earn from the market depending on how we have positioned ourselves to make money from the market. There are traders that are day traders and they make a lots of profits from the market since they know how to position there strategy in a way that will make profits for them without much loses .

Well, I also see that some day traders can be successful in getting a lot of profit from their daily trading activities in the market. But usually they are old players in the market. They already have a lot of experience and already have a lot of insight into trading activities. Which makes their mentality very strong. And they can even last a long time sitting staring at the market every day. I personally probably wouldn't be able to do that.

And many newbies want to imitate them but most of them fail to make a profit. Because day trading seems like it is not as easy as we see.

It's quite right what you say, because the goal of day traders is to make a profit through the price movements of cryptocurrencies in the market. So that the application of methods and strategies must exist and everyone has a very varied way of trading so that the level of profit can also vary from person to person. Because positioning a strategy when trading in the market is certainly not easy and that is what causes traders to lose money in the market, even though the level of loss may not be that much because it depends on the amount of capital they use.

Even if your way of trading is a bit better and have a good strategy, I would still say under certain conditions everyone will lose. Trading does not always generate profits even though the strategy we apply is good and very experienced. Even I know leverage and day trading in cryptocurrency will be quite risky for beginners and how do you handle this problem. It's difficult for beginners to control their emotions and it's difficult to stay calm if they experience a loss on trades and what steps to take when it happens, so you should stop for a moment and get some fresh air to make your mind calm again.

Novice traders will definitely get losses more often and it depends on how he handles the trades he is doing, so the decision to go through trading really depends on how prepared a person is to take the risk of losing. I believe when they get used to it they will get more experienced and in essence trading is done to get profits not losses, so that it is done in the right way following the instructions needed in the trading itself.

Day trading is not the easy one for the freshers,only the huge experienced traders can try the day trading.Because day trading is based on the short range trading,So the live monitoring is essential one.The complete day should be monitored by the trader to find the exact time to buy and to find the buy point of the coin.The wait for the bull run time in a same day,the market give some indication to the bull run in a same day.It’s essential for a trader to find the selling point to get the margin profit from the day trading.

i consulted several senior traders and they all said day trading is like playing with fire, if you win, the results will be good, but if you lose, the results will be bad, so it's not easy to become a day trader, you need a lot of mature strategies to think about, don't until the chosen decision is wrong.
 besides that it is difficult to divide time between social life, family and trading activities, this is the main reason that only those who are introverts are usually successful in day trading.

daily trading is never easy, a little bit of your focus is shifted then all your strategic framework and also the accuracy of your decision making will be bad.

Not only in trading but in every job or in every organization there is difficulties in start like if a children is starting to get education then there needs a lots of efforts to learn same is the case with trading that you have to work hard and utilize your energy to complete your destination.

There is no one who will succeeded without facing troubles but they didn't discouraged and continue their way towards success and now you will see them as an experienced traders. Learner is always a successful person and those who leave the field of battle due to fear will never see their success, success is easy but if one work for it as you cannot do anything by setting at one place.

That is true, but the overall is what matters. If that strategy is a good one enough that you end up making a profit with some time then it should be a good thing, doesn't mean it would take that much time neither, it should be possible to make it bigger and better.

I think life is much more simpler than we think, we just need to keep buying and holding as long as possible, hell if possible we should keep buying and holding until we die and leave it to our kids as well. That would be guaranteed to profit, but that's not trading. In order to trade and profit, you need to have more profits than your losses, and you could have a few loss here and there, but if you are making big profits then those losses will not matter.

Yes there are difficulties in the beginning of every work but our hard work and passion help us to overcome these difficulties quickly. Trading is not as easy as we think. Our small mistake can lead to big loss for us. One should not enter this field without skills and experience. You are right that we should face all difficulties with perseverance and courage. Cryptocurrency market has both pros and cons and we should keep both in mind while trading. Sometimes our analysis may turn out to be wrong, but we must persevere and never panic. Of course, all experienced traders who trade the market may have faced many difficulties in the beginning, but their hard work and dedication made them a successful trader. Experience and knowledge increases with time.

The problem with day trading is that fatigue builds up, and one bad decision can result in losing all the profits gained from hard work. Yes, scalping is good, but the income may not cover the time spent. I have personally experienced a similar problem. Everything is going well all day - and one mistake ruins the entire success of the day.

Well, it is about finding a way to make money every day. Applying all the learnings and effective strategies that we know are necessary in order to survive that is why I can that trading is not an easy job which is different from what we usually think about it. That is how important that we need to enhance our levle of understanding because that was an advantage. In fact, as we noticed ourselves that the more we gained experience, the more also we make profit and feel better.

This means that you are not in trading but investing and if at this point one not understand trading strategies then the most appropriate step is to invest. Day trading is not recommended for beginners because of the greater risk they have to accept. Then many questions arise, if we are always talking about beginners who are not suitable for day trading, how is it possible that they will experience the experience to start trading?

It is difficult to provide an understanding that trading is not just talking about strategies or other technical matters, but when someone is involved in trading, they must consider how to avoid losses. Of course every trade must sometimes get a loss, but how can someone's attitude in these circumstances continue trading and make a profit in the next trade. Generally beginners are unprepared for a loss in trading and this is where the understanding arises not to trade if you are not ready for the risks.

Its not simple like OP said about how to easily with daily day trading, exactly with step by step explain by OP with future trading, not only with future but also spot trading still difficult how to manage well keep consistent with short term trading or consistency earn profit in daily day. But I like with method and planning guide from OP how to be success in daily day trading exactly with leverage using in future trading. Probably daily trading can't understand well by beginner and they will get difficult how to apply with OP step guide.

In trading not only focus with strategies or technique have explain by OP, but how well controlling the emotion and greedy when position on profitable, I think OP can add some education not only with strategies but also controlling emotion in trading.

The to add to the nuggets of knowledge that you have shared, I would say that anyone who is considering making a life by being a day trader should keep their day job. Day trading comes with a lot of risk which has the potential to make a person go bankrupt. Your 9 -5 will serve as a source of stable income at the beginning.  And your don't need to know all the strategies. Stick to one or three strategies and own them, adopt and develop your variant from it

Without a doubt this is true, people have this idea of becoming day traders and leave their job behind not realizing how hard it is, day traders on the stock markets can earn up to 10% of their capital per year, now this market is way more volatile and more money could be made, but I think 20% to 30% should be the upper limit of what a trader could realistically get per year.

This means that if your expenses are 30k per year you will need a starting capital of 100k to 150k, which is very high, and that is only the capital needed to trade, as you will also need to have money in reserve if you do not make any profits for a long period of time.

It's okay what you said, dude, and your intentions on this topic are also good. Maybe the only thing I want you to add to what you are teaching in this section is to make it easier for other members to understand. Show an illustration of what you are saying so they can figure out exactly what you are referring to.

Because in reality there are only a few people who relate to what you are saying and have an understanding of day trading, what about the others who have no idea yet? They won't get your point; besides what you said, you didn't say anything about how to actually do that, so what you want to convey on the topic you did is lacking.

Trading should not be done to make ends meet, it is quite dangerous, we will never know when we will be able to take profits in trading while we must always make ends meet, so this must be separated so that emotions in trading can be controlled properly.
And I really disagree with people who leave their main job because in my opinion this trade can be done anytime and anywhere without disturbing the main job.

I think trading can be done with any capital and the money shouldn't be allocated anywhere before it really makes a profit, and there will be a lot to learn about how to do it, the most important thing is emotions that can be controlled properly for day trading.

Which is exactly my point, once you begin to actually calculate how much money you need to trade for a living while having no other job you will realize how difficult it is and how unlikely it is for anyone to do this.

But this is not going to stop people from trying to become traders and make it their main occupation, and once they fail they will have to face incredibly difficult circumstances, as they will be short of money and depending on where they live getting a new job is a process which could take them months before they succeed.

At start nobody can analyse the market so they actually take decision by following the signals provided to them by experts. Sometimes with a single jerk person forget the benefits and left trading but they should be familiar that acceptance of such sudden jerk will make them strong.

But one thing is understandable that if precious time is given to trading and learn it well then one day a time will come when you will teach trading to others because newbies always turns into experts after facing adversities.

Making trading as your source or main income isnt really impossible, yes it could be done but its not for everyone and not anyone could easily be able to reach out this kind of state knowing that trading
isnt something a skill that you could possess easily and on a short time. This is why on the time that someone who do have plans on making themselves reaching out this kind of particular state
in a rush manner would definitely fail.We do know on how things do works on this space on which there's no way that we could be able to predict on where the market would really be moving.
If you do find yourself that profitable on the time that you do make trades and able to sustain yourself despite of the losses then you can consider yourself that capable enough.

It is really that important that you should really be having your day job and if you do have plans on attaining this condition then you would really be needing to adjust and making trading as your
side activity and on the time comes that you are practicing and finding yourself that effective then this is where decisions would really be made. Just make it sure that you do have that good
winning or profitable trades before you would really be making out such switch up. Be careful on decisions that you do make if you dont like on getting fucked up.

But do you think that day trading is profitable in all days? I don't think so.
Yes, you can make money in day trading but the income generated from day trading is not sustainable. You cannot be in profits in all day trades.

There will be days when you will hit your stop loss, and there may be days when the market will not give you any opportunity to make trades. Anyone who is solely dependent on day trading and has no other source of income, he will try to force trades which are not there and eventually end up losing money.

No individual can start trading without knowing how to trade that's why it's important for we to learn trading from other professional before we start trading. Depending on signals isn't the best way to go as it can distract you from the main reason why you wanted to start trading. You don't benefit from signals but can only make money from them and you don't know how long the signal will keep coming and still profitable to you that's why you have to learn to trade on your own.

You can make a life by day trading but to do that you have to be trading on your own because you can't depend on others and expect to make profits always. Those in charge of the trading signals won't be right always and you don't gain any experience from those signals.

It would indeed be better to learn trading for ourselves rather than always having to rely on trading signals provided by others. But at one point, sometimes we can also see and learn from every trading signal given by other people. Like studying based on what analysis the signal is formed. And match it with the analysis we made. Personally, I often make my own analysis, but sometimes I also take other people's trading signals and then analyze them again. Because not all trading signals are created correctly. So it's better to always re-analyze if we see other people's trading signals. So we can learn from there.

If you try to trade only for the sake of making daily profits, then most likely this will lead to the fact that many transactions will be unprofitable, since you need to strive not only to make as many transactions as possible, but to look for favorable moments for transactions. Therefore, I believe that it is worth focusing on making more trades that you are confident in, and not just a lot of trades with the hope that there will be more profitable trades.

By day trading we generally mean the day's trading completed each day. That is, today you take a trade and sell that trade after making some profit from that trade, we usually call it day trading. For many this type of trading is a very profitable method, some traders feel that it is safer to keep their money for themselves than to waste money by making a small amount every day. If a person has enough knowledge about trading and if he can do well in day trading then day trading is fine for him. People who are usually not overly greedy can handle this type of trading. If there is excess greed, a trader will never be able to complete his trading in one day because when some amount of profit is made, that trader will think that if he keeps trading for some time, he can make more profit. People who don't have this type of thinking will do well in day trading.

Actually, day traders in the cryptocurrency market make way more than 20% or 30% per year and that is the reason why this market has become so popular and has become the favorite of a lot of traders who used to trade in traditional markets before have moved to cryptocurrency trading because they have seen people earning way more in a month than they have been making in a year, it all depends on your own capabilities of how you can manage your trading activities and the capital.

I know that it's not easy to earn money through trading, but it becomes easier if you spend time and learn everything about trading and all the necessary tools and techniques that might be required to become a successful trader, and once you get a hold of it, you can have a good profit over a period of one month or one year.

That's the hardest thing because not everyday has a good trade to make, and some days you shouldn't make a trade because of the market and some people think that because they are day traders, they should get into at least "something" and that results with them losing money.

Nobody should do that and they should be careful and only get in when they could make a profit, and they should be sure about it, if you are unsure then it's possible that you are going to end up losing money without a doubt. The best thing about this would be to make sure that you are going to end up with a trouble on the long term if you are not careful and a day traders life means that you need to be checking every detail and be more careful.

Unfortunately, there are a lot of people doing it and failing which is not the thing they are supposed to do.
Well, for now, I believe that everyone has already learned from the early traders and from their personal experiences as well. I can say that day trading is too risky and pressured (maybe for me) but we can do it rightly and place orders in timing if we are really good at TA and chart readings. Somewhat I can say that if you really have a trading skill, earning a profit daily is possible.

At first, the expectation of retiring from real work once you get to know trading is experienced by most people, but in reality not everyone can do it to meet their daily living needs, because most of them fail, and only a few people can do it well. . If we are still discussing the best techniques, I think we have to increase learning about trading, because it is a characteristic of just entering the world of trading, because the most important thing is psychology in daily trading.

Anyone of us who gets into crypto trading and wants to start day trading can do it right away, even if you are a beginner in this field. That's why it has a disadvantage because if you don't have enough knowledge, the chances are high that you will just lose in day trading, and a newbie should know that.

But if you have knowledge and experience in this trading activity, you can use it as an advantage to get income from it. But as some say here, not every opportunity will suit what you want to happen to get a profit here because sometimes it also depends on the situation of the market, to be honest. That means you should be prepared for the risks that you can face here.

I agree with your stated points, this is a hard truth but that is real , Beginners should avoid leverage trading until when they have learned and gained the experience that is required to trade profitably, Take it or leave it from the numbers of years I have spent in trading industry you can't be successful or do without the experience being a beginner,  I encourage starting up with the investment side first.

Whatever kind of trading we want to go for, we don't need to stress it because the kind of profits we choose to earn from the market will determine if we are going to be a scalper, swing, day, or position trader.

 The amount of profits we are using to trade will also determine the kind of trader that we are and how to go about everything. We need to get prepared and according to our Capital or else might end up losing if our capital is not enough to withstand the pressure of the market. A scalper mostly uses $20 to $100 to trade in the market which is pretty good.

Writing and seeing the theory is very easy. But actually implementing it in real trades is very hard. You need to measure and calculate the risks while trading or buying the coins. Moreover Day trading requires a lot of practice in order to get profits. Completely relying on day trading is not good I must say. As trading sometimes depends on luck and it’s not guaranteed that always you will make profit.

Disagree with this statement "that trading is dependent on luck" but it's a matter of skill in analyzing the coins that are traded there are some patterns that must be learned that allow you to profit, but behind that of course there are risks and cannot be avoided but if they are already day trading professionals then that's a lot of people who do it.

Maybe I'm the only one who doesn't have this ability, so I can't make a living from day trading unless there is another job that is generated, I can only invest and don't want to fight bigger risks in trading.

Of course, the trades we do with the intention of getting daily profit are called day trades. There are many traders who do this type of trading for daily earnings and start with a small amount of money. If a person wants to earn good profit in daily trading then he must have enough knowledge otherwise he will not be able to make profit. It is true that people who are not greedy can earn good money, but people who are greedy lose money at some point. Those who have good thoughts can definitely make profit by trading, and they have to take different advice every day. Anyway, trading for daily income is definitely possible to make profit, but you have to adopt different strategies only then you can trade in a good position I think.

However, day trading will require experience and skill from the trader. This requires time and quite a lot of trading experience to really make a trader skilled enough at trading.
For those who want to learn to trade, it would be advisable to do so over a long period of time. and of course not directly trading futures. some traders use futures trading to earn daily profits. it allows getting a bigger target or profit but it also increases the risk.
Anyone interested in trading crypto, learn and master it first before trying.

If your capital is small, your profit is also small, no matter if it is daytrading or scalping, because that is all you can risk, and your stop loss is too close or too thin and easy to reach. Though it is really possible as long as you have skills and a proven portfolio that you've been earning profit from for a few years,  if you are just a newbie, it will take more time to learn and earn on it because it doesn't mean you've already learned and understood the fundamentals and are now earning profit, you'll still need to create a strategy that works for you.

Greediness is really part of the emotions of a trader or in any aspect of investment, but treat it as an enemy and be cautious about it because you will know how to control it so that you won't be chasing losses or even overtrading yourself.

Of course, trading cannot be done by luck, rather trading requires a lot of hard work. Any trader tries to know a lot about it before starting a trade. If there is no experience, it will be a mistake to start trading by luck, and it will surely incur losses. To trade, it is important to know market information, market volatility, profit and loss risk and chart analysis, use of various indicators. This way it will be easy for you to make profit in day trading.

It is not necessary that you always make profit after knowing these things because the market can also go against our analysis. Therefore, all these things have to be kept in mind. If you are investing instead of trading then this is your good decision because investing is easier than trading. Without the ability to trade, trading may lead to loss rather than profit.I think in investing you become carefree by investing for a long time whereas in day trading you have to be mentally very busy.

I do agree that at the start too many people follow others, but the reality is that if they could learn how to trade themselves then they would make a lot more money since they would have the recipe.

I compare it to making food really, you may not make a food as good as the restaurant near you, they may make a better one, but it will cost you more to eat it there than making it at home, plus each time you want it, you need to go there, and if they do not have any, or the chef is having a bad day, you are going to have a problem, whereas if you learn how to do it yourself, then you are going to eat at home, cheaper that way, and you can eat it anytime you want, you just have to cook it, and that means you need to learn to cook it.

Day trading is very interesting to do because it's one of the most convenient means some people finds so easy to use in trading especially when they are specialized on a day to day trading activities and want to realize some income from it, day trading must also be done with utmost care in other to avoid making unnecessary mistakes, we have to engage in the use of trading indicators to help us achieve the best and maximum degree of our expectations in trading each time we are doing it.

I don't understand why someone would need to make an investment and start trading if they can't do market analysis. What's the hurry? People should simply start learning first so that they can be able to analyze the market and decide when they should make their trades instead of following someone else's signals which aren't always reliable and one might lose a substantial amount from their initial capital and even if they don't, it's still not recommended.

A person who is willing to earn a living through trading and cryptocurrencies should obviously never get into it before they learn everything from A to Z so that they don't get confused at any point during their trading journey and they can manage everything efficiently and without any problems at all.

Most of the day traders lose.

Many are just optimistic with their experiences and despite that many of them are losing, they've got passion for what they do.

And that's why many day traders are also prioritizing just to have more in their portfolios.

Yes large number of people who are crypto traders experience win but this win is not regular win because in certain step of their trading they must have loss.
Crypto trading is consider as a mechanism which will turn the Condition of poor people into wealthy people but it should also be consider as a process that turn wealthy people into poor people if management of money does not take well.

Earlier people using crypto either learn how to trade or they leave trading because they cannot bear more losses so depending on this some people continue to win and other remains in same situations as they are not interested in learning.

To me $200 is too small a capital to use for day trading cryptocurrency. There is a very high chance you will get liquidated in less than no time considering the volatility and average daily range (ADR) of cryptocurrencies. There is also the temptation of trying to flip this money... this is something common with many traders that enjoy the euphoria of marking a fortune out of nothing.

Nevertheless, one can be lucky to actually build something significant with $200 luck do happens and the world is evolving and AI playing revolutionary roles in various fields of human endeavors, anything is possible. However, following the mechanical method that is littered all over the internet, it is a matter of time before someone with such little capital blows the account trying to build it.

There are traders who lose, but there are also traders who win. Most of my friends are day traders, but sometimes they do scalping. Most of them don't have one strategy because there are times when day trading is not going their way, which is why they will scalp on that day.

It really depends on the trader what he prefers, but most traders who make trading their side hustle do this because they don't need to keep watching the chart all the time, all they need is an hour or two on a day to plot their entry, but that doesn't mean that it is more profitable or has a higher winning percentage, it is just where they are comfortable.

Of course everything that can be profitable will definitely have a level of risk, therefore as you said there are winners and losers in trading. For a day trader I agree with you, which is very true they do not only use one strategy, but maybe there are several or even very many, because in every day maybe the market will not always match what they want, I mean if they only have one strategy then it is unlikely that they will be able to get daily profits according to their targets because the strategy they have may not always match the market conditions every day, so to complement it they need several other strategies that match the market habits and with that maybe they have a good chance to be able to keep earning daily income. Well and if maybe their strategy is limited maybe they can take over the trade for scalping, that could be a good option for the market that day that does not match their strategy.

Yes, it is true that the technique may be enough to facilitate us, because it is true that sometimes constantly paying attention to the chart is not good and may make us blunder and make the wrong decision because our brain also has its own capacity to accommodate very complicated movements there, so rest is also needed, this is a pretty good alternative to choose.

That's right and that only proves that even the experience ones don't get it easily.

If it's just a side hustle and don't require a lot of monitoring. They'll just buy within the day and wait for another few or several days or even a month.

It's just the typical investor type but they still need to deal with it as a trader.

Day trading and leverage are called high risk trading. Whenever a person starts such a trade he must be wary of such dangers. If you want to do trading, you have to adopt different strategies, otherwise you must face the risk of trading. If you want to earn by trading, you have to consider specifically how to make good profit from trading. Before starting trading one must deposit some amount of money in a good exchange and trade from there daily hoping to gain some amount of money. Trade with small amounts gradually, then increase the amount if you want to increase your risk level. However you must trade risk-averse otherwise you will never be able to make a profit. It is better to trade cautiously. And before starting trading, definitely take the advice of a wise successful trader.

If there's someone who would really make profits then its always that there'a always those people who do lose up the other side of the trade on which and this is really the basic principle that we do have in this space.

To those who are profitable then they are the ones who would be considered to be professionals or someone who are really that veteran on who could be able to handle themselves on this very volatile market.
We know that getting such skill is never been that easy and this is why we do really struggle on acquiring such skills which would be taking up some time and this would really be that lots of people been trying.
We know that there are different skill sets needed on what kind or type of trader you would be, whether you would be a scalper, daytrader, or swing trade or long term ones.

If you are making a life with day trading then you would be needing to face up that harshness of this market when it comes to volatility. You would really be that actively
be that checking out price movements every now and then.

He only explain what day trading is but he didn't say that it can give us a daily profits, although there are still times or days where we can earn bigger than the other. So, I guess that is still better and that compensates to the day/s that we haven't gain anything.

If we are not that skillful to produce that kind of income, it's better to just find a much stable source even if the daily pay isn't that big enough because our total pay will still be bigger than on what we can get when we do trading. It's okay to do force trades or trades which are not on our plan if we think we can benefit on it. We need to be versatile in trading if this is the only source of income we have so far or we choose to live on it because this is our passion.

Day trading can be profitable and not profitable to any individual that wants to be making money from doing it but they have to make sure they know how to trade very well before they start doing it. Many individual just start trading without having any experience and that's why they always fail and begin to blame the market of been a scam meanwhile they were the ones that didn't understand what they were doing but because they were winning they thought they're good traders.

When you start trading, you can get beginners luck but we don't have to let that confused us because the more we go dipper the harder it begins to get and we start losing so it's always wise we know how to trade properly before we decide to be doing it everyday for profits.

For beginners, it is normal for them to lose in trading because getting profits in trading is not easy, especially if you do it all day, you will be confused by market conditions and quickly stress your mind because your analysis does not match what the market is saying after you. make an entry.
 
What becomes very vulnerable is when they are too ambitious to get big profits with big capital when they have already had one small win from their trading activities which makes them brave, and in the end it makes them worse off because of their carelessness which results in big losses and cursing the market, as if as if they were being trapped.

Talking about whether you are profitable or not, of course it is relative and is always there every day for a daily trader, and if you are a beginner, don't choose trading as your main income to earn a living, or in the case that you have experienced victory in one week from your trading activities. in the market, then you want to move from the real job you have been doing for a long time to trading, I think it is better to be consistent first in the old job and learn more about the world of trading. If you feel you can control your emotions and manage your finances and have the vision to assess the probability of profit from trading, then that's when you are worthy of making trading a place to earn a living or your main job.

But are you going to trade for the rest of your life, I hope not, you have to think about other ways to earn extra income in your old age from now on.

Yes, there's always the two sides of the effects that we're doing. Those that are happily sharing their wins, won't show how much losses they've made particularly before winning those trades.

While for the most of the traders that we're seeing, those that does scalp trading. They're more experienced and has got the idea on how to quickly profit in the market.

They have also for sure suffered losses and that contributed to how they decide for each of their trades.

How do you know most day traders got loses?
I've no idea about the stats of loses or wins of day traders. I think there is no valid source that can describe/explain it. It is impossible to know the number of active day traders. However, if day traders are more aware about the importance of knowledge and emotion control, I think they will have bigger chance to succeed.

Ideally, there should be bigger number of success traders because we have varied sources for learning. When day traders are educated and mature enough, they won't easily get losses.

I think if a day trader got more losses than success in trading, he probably stops it. If he continues to have more portfolios, it means he is quite success in trading.

Whenever one trades without information in the beginning, mistakes will be made and losses will be incurred due to mistakes. Otherwise, he can follow anyone and following someone means that if the other person makes a mistake, you will also have to bear the consequences of his mistake.Therefore, instead of relying on others, one should try to learn by oneself. If you can't make a good profit, at least you can avoid your losses.

 The example you gave of cooking is a very good example that if one learns to cook by himself instead of eating in a restaurant, he can get home cooking easily and cheaply, but trading is a tough job, not so easy. As people think because it requires a lot of hard work and takes a long time to learn. However, trading requires experience, market volatility and knowledge about market risks. Everyone who is interested in trading should know about all these things, so that he can develop a good trading strategy for himself.

There is no need for any stats with that, ask the other traders or do it on your own and you'll get to see the real stats.

Yes, they have to stop when it's no longer working for them and all they need to do is to find another investing strategy so that they'll keep up with the market.

And what's that strategy? Holding.

In line with the risks, trading does speed us up to profit in a relatively shorter time, but as I said it comes with risks. If one starts trading without any deep knowledge of this space, then it will invite more losses.
Luck may come once in a blue moon, but is it dependent on that alone? It's tantamount to gambling in my opinion.
For beginners, it will be more difficult, because even someone who has been in trading for a longer time sometimes still finds it difficult. Especially if they come without any knowledge or just follow the current trend.

That's mostly the case with new investors, those who have heard from others that cryptocurrency is very profitable and one can easily earn a lot of money, and they never did any research of their own to understand how things work and whether there is risk involved or not but they get in the market and start buying cryptocurrencies without any prior knowledge and with zero experience. Some might get a newbie's luck but that doesn't happen with everyone.

So, a person who is just about to enter the market needs to at least do their own research to understand the market first and they should only start buying once they realize that they now have enough knowledge about the market and they won't just waste their money by investing on useless coins.

The day trading, I have done many times but it is not so profitable because there is more loss. The advantage is that you have to be patient for it. Look, patience is a very important thing in trading. If you don't have patience, you cannot trade what you have. So we should avoid day trading because it has a lot of chances of loss because in day trading you will prefer altcoins rather than bitcoin and ethereum. One who invests in ethereum or bitcoin is a very great and superior thing to do

as far as the experience I have trading every day is not very good in my opinion, because I do it often but often I suffer losses, after I learned about myself, I have an impatient mental temperament, because the tokens I trade rise in the next few days and it's very frequent, I want to ask if there is a solution for a mentality like mine?

Its never been simple in the first place and since we are talking about daytrade then you wont really be that making yourself that having an open position in the end of the day on which means that you would really be needing to wait up for a particular moments or timing for you to close up a particular trade on which it would really be just that normal that you would really be having that kind of behavior.
Its never been that easy but somewhat its not really that impossible, it is really just that there are people who cant really be able to take a good grasps when it comes to trading and this is why
they do really ends up on having that kind of failure because they do really make things been rushed up. This is why it would be better that you shouldnt really that
make yourself having in a rush.

We do know that there are certain types of traders on which there are ones who are daytrades, swing traders, trend setters, long positions
or simply with those holders.

And as you do day trading and every day, the stress will build up and it will affect both mental and physical health. I once did day trading because I hoped to get a profit every day,  but that's not the reality because not every day you can expect an earning; sometimes it's more than a loss, so I built up stress and anger management without realising that doing trades every day is very stressful and not doing anything good to me. So I stopped. I only do trading. The time frame depends on the analysis that I come up with. In short, I don't think it will be healthy anymore if a trader will always do trade every day. If there is, then look at their situations. I don't want to go through that again, so I choose to go long-term in my open trades so that I can still relax and just see the result in the end.

There are so many profits that could be made from trading of we know how to go about it. There are people that had been in the market for a very long time and they know how to go about the market utilizing their skills to make profits from the market.
One thing that is very important to us as a trader is for us to be ready to be learn so that we can make profits from the market as trades.

It is true that by trading we will certainly be able to gain profits from the trades we make, but we have to really understand it well to be able to make a profit from the trades we make and we also have to follow market activities so that we don't make a mistake in choosing the type of coin we will use. to trade, even for those who have good experience in trading, there are still those who experience losses from the trades they make and we also have to be very careful in deciding the type of coins we will trade.

Yes, of course we have to keep learning even though we can trade well, because if we feel that we have enough of the knowledge we currently have and don't want to learn any more, of course it will be difficult for us to get a profit that satisfies us.

This guy gets it

Day trading is not easy and as you are mentally impatience so I think that everyone in trading is faces same situation therefore if your selection of coin become fine and you get experience then you will reduces this impatience. If you take such losses as a lesson for you then it can help you to overcome your emotions and also forget about your previous loss as it can cause you mentally disturbed.

If you are losing regularly then give some time to get education about trading because trading is not a field in which you will win through aggressive behavior. If you cannot control emotions then I will suggest you to move towards long term investment because it will minimize your losses and also you will learn about trading in such duration.

The purpose of day trading will not be that you have to sell it on the same day, you have to start trading first and will be the idea that you will benefit from it or not? the token is falling down or going up. if going up sell in profit if falling down what you have to do is to hold it for two or three days.
After few days I hope it will give you more benefit benefit from one day trading.

it may be a good idea to try long-term investing when we are not very proficient in trading skills. But when it comes to controlling emotions, it seems traders should learn more about assets and markets before trying to invest. because even though investing looks easy, if you don't have control over your emotions, investing will actually feel more difficult to do.
If you continue to have problems trading, it's better to take the time to learn first.

However, some traders look for assets with high fluctuations to be able to get profits according to what they have planned. they do increase the risk, but still, such trading is not for beginners. but it can be learned.
Everyone must learn about risk management if they want to be wise enough to make trading plans.

That means you are not a good trader yet, any trading time/duration is good for trading, it only depends on the kind of trader we are talking about and the time they have for trading at any point in time. As for me, there is no trading style that is not fitting and none of them that I have not traded before, be it swing, day trading, scalping, or the long, medium and long-term trading, I have worked them through. However, in my trading experience, the less time the strategy is, the more tasking it is and the more risky it is, though more money could be made if you are good at it, yet it can't be exonerated from the higher risk involved.

Going by that the longer-term is less tasking and it depends on how good the trader is in it which will determine the risk involved as well. Having expressed that, day trading is a type of trading that has a lot of trading approaches in it. We have a whole 24 hours in a day, so if scalping and somewhat hourly trading are removed from it, the other day trading styles can't be that risky and tasking as you said. All you need to do is follow the daily trend of the market, and then you open your trade and leave the market to do the rest for you. At times, I analyze once a day and when I open the trade, it could last for several hours or even days depending on the strength of the signal and trend. It is not about buying and selling and closing the trade many times daily alone, you might day-trade and open just a position for the day. So it depends on what you understand in this regard and how good you are at it.

Everyone has different experiences in trading depending the technics and methods of trading they use. but generally trading every day is not bad at all.
In fact, Everyday trading is the most effective way of trading and making money from trading. that's what professional traders do. they make multiple trades on daily basis.
as you said you have an impatient mental, that's the reason why you lost.
The Best solution for you is to just buy a token whichever you want. and place an order according to your analysis. or according to the trading signal you receive. then don't look at back. whenever that target reaches your tokens will be sold. temporary price down are normal. you don't need to panic sell because of those. Unless there is a major clash in that project.

Which one's more advantageous though? Low leverage or high leverage because I do think that with their risks being different, there's got to be one that's better than the other for day trading. I'm really curious how people make a living out of this specially those didn't have any kind of other ways to make money besides this, and if they're really getting a net positive in terms of quality of life and work balance because if I recall correctly, day trading takes a large chunk of your time in a day.

Advantage may depend on us. Some are comfortable with high leverage and they can make more money out of it, in exchange of taking more risks. While some prefer to stick with low leverage for a while up until they build up a good experience. The return for it may only be small but they are not bothered with it because they can only treat it as a side hustle for now. They still have their main job like an office work or a business, that provides them a bigger and a much stable income. Some traders can focus on the market and looking at their screens most time but some can only use a bot. This allows them to do other things in their life.

I am very inspired by the OP's activities, but personally it is quite difficult for me to implement it, I don't expect much in trading, even implementing a daily profit of $10 is very difficult for me to do, I know my lack of skills in trading or even I don't focus on trading so choose the buy or cell option carelessly, for friends, what do I need to do to be able to consistently trade? I have tried trading many times, but the results are not suitable.

2x leverage is already fine.

I'll choose the lower gains but has lower risk too. Unlike to the high leverage and high potential profits, I may not be able to take that.

It's better to do it with a lower risk and OP has explained well on how to do it as a day trader. So if you are an aspiring day trader, you have a lot of tips already but you'll learn more when you do it in actuality.

I don't go into trading because I know my skills here are very low. Day trading can make a living for skilled traders but they also suffer at times. The loss can easily be compensated for by understanding the correct position signals of the market. Every time I try to do it the result is zero so learn well and then implement everything. There are many tips to become a good trader which can be tried and practiced.