Bitcoin Forum

Let's see what you think Guys.

I have only ~1 years of experience daily trading.  We are all "new" to Bitcoin though and

there are a lot of challenges that come with that.I believe rule number one of trading

bitcoin is: Don't day trade Bitcoin without knowing the risks of a 24/7/365 market. Daytrading is a zero-sum game. You only earn money if you are smarter than the other traders.

The first rule for daily trader is :
Always play everything that can afford to lose,
what does that mean ?
it mean if you are a daily trader,do not put too much your hope into it because you can not predict the market and nobody can predict it.
do not living your life using that trade and always use some of your side money into it.
you can double your money in the next morning and you also can lose it all in the next morning.
a lot of trader lost all of their money because of it,they put too much hope and dream in their investment.
and when the price is down because of the whales he's panicking and sold his belongings.
he did not know it's a cycle,right now you can see it's below $1 but a month later you will see it at $100.
everything is possible in cryptocurrency

Watching the price of the coin and how it performs for a decent amount of time IMO.

My first rule of daily trading is simply don't do it at all.

The first rule is selecting the right exchanger system, the trusted one. The second is having the knowledge about the coin you will trade. The last is beling relax like a cold blooded human being.

If trading in bitcoins, be sure to have sufficient knowledge of the crypto currency, its price fluctuations and how to stop losses and not aim to high. there is no demo version of trading available which is why tracking the market trend is tough and the chart shows that the currency rises and drops in seconds. For cryptos, except ETH, I don't find any other crypto having a stable growth. The exchange should have the option to stop losses in this case.

Daily trading/ Short term trading?

The only rule for short term trading is to sell high and buy low for very low % profit daily.
Or hold what you might have bought at higher price till another pump on that coin and never sell those coin for loss. You should use your remaining bankroll to invest in next coin on another day.

Well it's not rule, more like tip... Wake up before you do anything :D I sold my coins at terrible prices only because i was sleepy (or too tired if that happened at evening) That i didn't think well about it. Of course i lost money because of that, you should think well about your daily decision to sell or buy.

Assuming you daytrade for profit.
1st rule is buy low sell high.
All the rest is aimed at this. Choose high volume coins for more trades a day, small profits at a time to not be caught with bags, all trade what you can afford to loose so that you don´t start trading with emotions. Practice. And so on and on. But in the end all this is as i said to buy low and sell high for most profit.

The most important rule is just to look at the charts, and see price movements among the whole day, just follow all the candles on every chart you are going to trade and look the opportunity to join the market.
But the most important thing is to set a desired profit, i dont take more than 2,5% profit per trade, usually they get filled in less than 2 hours, and in good days of trading i do 6 of them a day.

What you told is the correct rule of daily trading is to set the desired profit or loss of trade so that you dont make mess with your investment. It is always good to first check the movement of the coin and then according to it trade it, let the price move up little but you will get idea of the movement is really bull or its a bull trap.

The first Thing  I look at is how the coins price closed yesterday. This is very significant as this will determine how and were we would be today.  Therefore the first rule of daily trade is studying the candlestick formation in other to determine the mind of the traders. I will also sometimes look at news and new information from some cryptocurrency popular site like coindesk and sub-reddit like /bitcoin.  But generally price action is the best way,  to determine we price will be in future.

First rule is don't do that. Long always good for me. I hate daily trading because this market very volatile.

If you play with certain rules and follow the profit calculation then surely you earn nicely, like keep your profit and loss margin small and just follow the trend and trade. This way you can earn daily but some times you have to not trade if the calculation is not correctly going.

This information is very useful
Thank you all for your replies.

Ofcourse to buy low and and sell high, lol:) The most importand thing is to see the trend and understand indicators, which you must use for your technical analysis of price, and remember it`s better not to take a part in Pumps, and if you see daily changes of price without any reason - its a pump, i thing it is not a good idea to trade with this tokens.

Be prepare for the lost, no matter how good you think you are there are always chances that you slipped and makes the wrong move, and analyze everything with cool headed, dont panic and observe each situation before trade, and the most important, dont force to trade if the condition is not good

Our purpose in trading is to buy low in prices and sell in high,so that we can earn more profit.in trading its better put up in our mind that  everything has its own risk,that in time of lossing we always calm,and find the right timing to trade and to earn more investment.

Some rules may not suitable always. The basic rule: Buy low sell high. You should also check the news as the low value coin might crash more. You should always read the news if you are trading.

Some people who slip by trade are those who panic with the trade they are doing,. undercooked analysis and uncontrolled emotion is one of the effects of the occurrence of their fall / loss from the trading of bitcoin or altcoin stocks,,. trading sounds easy but all require the right experience and analysis so that we can have the success of every trade..

I think my own rule of daily trading is that you should stick to your own trading plan or method. And if you happen to make much more profit before the day runs out do not attempt to open more positions with more money because things can go wrong at that point and once things go wrong there an inexperienced trader can start trading with emotions and might end up losing all the profit for that day. Another thing is to make sure you're not tempted to invest heavily in a market in a day just because it seems good that day. Doing that might turn out bad

Aaay. I personally follow this rule aswell as I suck bigtime at day trading.  :D I wouldn't just jump into conclusions and quit immediately though, if I were to be OP. Give day trading a try. Deposit only a small amount of bitcoin (probably 5% of your total bankroll?) and play with that small amount on the markets. If you actually ended up looking at charts and patterns and stuff, and atleast made a decent profit, then stick with it.

In my opinion the first rule is always thinking twice before buy some altcoin and do not greedy. I been 3 years in trading forex but until now can not reach consisten profit because trading not only about knowlegde and strategy in teknikal or fundamental but the important think is always patient and do not greedy.

I think you should follow the available coin behind and supply of it. Don't wait for big profit at a time. Trading with minimum profit is a important side for a day trader especially.

I follow my rules religiously in any type of trading but my number one rule is no emotions. If i lose a trade i just move on, having my own spreadsheet helps me a lot because I can see how many winning and losing trades i have in a month.  I also follow my stop loss and target price. Diversify, its rare that i put all my bitcoin in one trade. I know it's three rules but those three rules are for me all number one.

For me till now not understand how to do daily trading it is true, in my experience myself to time tried and failed so it is very risk to do trading  without proper guidance nothing is impossible and we are ready to risk we can do boldly with daily trading when you have no fear of loosing your money you will get more confident and most of people win with this attitude and smartness only this his my experience and opinion of mine about daily trading.

I think the first thing that we should use in trading is create a plan to what strategies and techniques that we can use. Creating a strategy and technique is a great factor to make more money. Many people earning big amount of money because of the effective strategy that they are using.

the first rule for me is we need to have patience and learning about how to analyze the charts. with patience we can do analyze the coins with clearly thinking so we can choose the right coins. but once we loss our patience, we can analyze the coins and can makes us to make mistake and finally we can not makes profit. beside that, after we buy the coins, we need to determine how much profit that we want to get because we don't have to expecting to reach big profit if we need to waiting for a longer time.

The first rule of daily trading for me is risk what only you can afford for.Because the market is not stable and save the others if you lose for the trade.Dont allow everything yluve got to trade because who knows someday the value that you've been holding is 3x higher at first of youre trading.

For me, the first rule when doing trading is that, accept to yourself that this investment is very risky. Knowing that trading Bitcoin is risky, you should have the capital that you can afford to lose when something bad happens. You should know your risk appetite when trading Bitcoin. The good thing is that, there so many investors tried this Bitcoin and now, this is wordly known. So, no need to worry about. In fact, Bitcoin now is going higher. :)

I start trading at the end of 2016, learning a lot, but emotion every time, opportunity always goes back to market.. i start realize something this few months, i should rearrange all my thinking, my mistakes in trading, control to be a success trader, even i do it part time only.

1st rule for daily trading is research!

Stay Happy!! your trading will profit all the time~ cheers

For me my rules is:
First - i invest the amount which i can afford to lose
Second - search for the coin which has a good project and potential to increase its value
Third - after i pick coins i will buy it for lower price and set the sell order to the value i know that i can gain profit or sell it for higher price
Forth - do not panic, give more trust to the coin that you buy.
Fifth - aim profit, i always control my emotion to avoid Forth rule.

Hoping it will helps:

Day trading is not an easy  job, it require a lot of experience and skill. You meed to remain as more active if you are interested in day trading.  Day trading has their specific and defined rules but to me i think in the first rule that must be apply while investing money in day trading is that you must setup a limit for day trading, because if you do not have any limit for playing  gambling then there are more chances that you will lose a lot of money that you even cannot afford to lose.

First thing is make yourself prepared for anything and then never expect the profit to be got overnight or within certain time period. It happens gradually, have patience. One thing in specific always have an alternative plan. If things didn't happen as predicted try with the alternative plan to lower the loss.

It truly is not a good idea doing day trading, I don't day trade, and will not advise anybody to do so.
If you are not smart, you can't gain it, so, it's better you arrange well watch the market chart and know when it will be favorable for you to trade.

I can't specifically say what is the #1 rule but the most important things to my mind are:

1. Do your homework - research & chart analysis
2. Diversify your portfolio - also trade by USDT
3. Never panic!
4. Only invest what you can afford to lose.

My first daily rules in trading is that I must not place a trade except I has a confirmation that a trend is about to change direction based on the candlestick formation. Many people buy bitcoin at the right time and sell at the wrong time because of this simple understanding of buying at the right time and sell at the right time. All information one need about trading decisions has been computed into candlestick formation and price action! So I depends on this alone to place orders in the market.

I advise patient as the first daily and all rule to trading. That is to say; with patients you won't hastily rush into the market without researching all necessary things you need to do just because you see a tricky light or position and you want to quickly 'grab' some profit - which could mean stocking and regretting .

The first rule is that you must understand what you trade. Don't sell or buy follow market trend. It's just a scam. It can make you lose all your money.

Scam indeed but it is the most profitable one if you now how to ride with the hype and we should expect that after the huge price comes there's always a fall since most of the shitcoins are placing some good signs so that they could trap the huge fool traders. But we shouldn't look for this everyday since there are long term coins are the best to trade and might gonna bring us to top.

Never take your eyes off the market for day trading!

trade only the amount you can afford to loss so will not on panic mode when your coin where you invest suddenly down

The first rule and most important rule that you must have is the knowledge about cryptocurrencies and most especially about trading. Most of people who loses a lot is because they dont have enough knowledge to build a strategy. So this must be the thing you must have in order for you to be successful in trading.

Buy low high ，Look at the whole day

The first rule that i learned in trading which i learned from my friends is "Be sure you're right then go ahead" In trading we should always be careful of what we are trying to do or what we are planning to do, we should utilized the power of the internet to help out more of our trading research to avoid mistakes and to help us gain insight in which make trading even safer and successful.

My first rule of daily trading is. "Patience is the key." What does this mean? it means that you should have patience before starting in trading because it's the key to success. Let me give you a good example, The bitcoin itself. You will notice the price of bitcoin 2-3 years ago the price is far from today's price. Some people invest to bitcoin and waited until now and look how rich they are the best example of this is https://www.cnbc.com/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html it's the student who drop from school and invest his tuition in bitcoin and look right now he's one of the richest person in cryptocurrency industry.

Um, it’s like emptying your pocket into lava pit and expecting that it will explode with gold river daily. Lols.


Really sometimes I feel like why I did put that money into some coin and sometimes it’s like why I did not put money into that coin. All the mix feelings every time I make a trade each day. That’s why they say not every day is same as the yesterday. Cool.

For Day trading I think check which coins have high ℅ of fluctuations within 24hours and avoid those coins as they can be more risky and you may Loose Good portion of your capital .
After that we can see the liquidity of particular coin like there is demand for that coin or not . If there is no significant demand then trading in those coin should be avoided .

You have to be aware about that, the cryptocurrencies have really fluctuate prices, so you have to be very careful before of your investments. Until you get good skills and good strategies on investments, do not invest with big amonts. And finally, do not stop learning and reading about the currencies' price situations.

Lots of good advice above.

I just got started with the shorter term trading.

my rules:

1. spot the trends
2. buy the higher volume established coins (set a buy price and a sell price and stick to them)
3. watch the news and youtube trader blogs to understand the overall market conditions
3. be patient, if you bought a good coin at a good price it might take a few days to come back up
4. spread out your buys and don't sell any coin at a loss. (unless something really crazy is affecting the market)
5. be patient, keep your eyes on the game
6. learn as much as you can from other traders.

Right. Watch the market price and when it seems that the price can give profit to you, that's the time to trade. Sell high. We always hear that when trading. I set the amount as well as the price in trading so I do not have to watch the chart and wait for the right price whole day.

The first rule of day trading is most certainly your ability to track market with patience so that you can identify a trend. Unless you track the market of a particular coin pair vary closely, it will be impossible for you to take informed decision. You can always play using your intuition, but it may not support you always and you may end up loosing your entire trading capital. So patience for tracking the market very closely is the first rule for any day trader.

Before you think of going into daily trading of crypto currency, the question that should come to your mind should be  (what is the level of your knowledge of trading crypto currency? Can you risk the money at your disposal which you want to use for trading? If your answer to all these question is yes, then you can continue trading crypto currency on a daily basis.

I think the first rule that we must have is we need to know bow we are going to control our emotions. Trading is really hard and if we do not know how we control our emotions, for sure we can commit mistakes and eventually we can lose our money.

Don't do day trading if you don't have any knowledge or some experience, BTW the main thing is to just stay focus on the market of your coin and be active, day trading is too fast and risky so may you loose the opportunity to earn if you are not attentive.

i believe there is no rules in trading , you can do what you want and decide what you want because that is your money so you dont need others to decide on what do you need to do and the strategy may work for them but not on you , so in order to succeed in on it , you must learn from your mistakes in order to adapt it succesfully.

Patience and composure. Day trading requires you to be more in control of your emotions than long time trades. It also may require focus and diligence is checking for price movements.

Be safe and trade with your extra income only.
You can not become rich from saving some dollars.
Be smart and invest in less than 20% of your total income.

"Do not make too many small transactions." at present, The fee is set at a percentage of the btc price, not the transaction money, so the fact that you make too many small transactions will result in a big fee.

If you are not whale, always play or trade with something that will not be detrimental to your finance. I think that should be no 1 rule.

Day trading require a lot of experience and skill. In fact day trading is totally different from long term trading. in day trading you need to be more active and must have good trading skill, you must take a decision in right time without any  delay otherwise you can lost a lot. I think day trading is more risky if a person do not have any experience.

The first rule of daily trading is to have a skills and strategy of how to trade accurately and precisely in order to earn a great profit of your investment.trading bitcoin is a long process but it is more exciting and challenging everytime you make a trade,sometimes you failed but if you success you can said to yourself i can do it,and im now a professional entrepreneurs.

My rules of day trading;
study the currency pair before starting
Before a day trade, decide your profit\loss margin and be ready to take profit and stop loss

In trading don’t have to be right every time, you just have to follow your rules and  my main rules always monitor the value of the bitcoin if the value is lower don’t think twice buy bitcoin  immediately and if the value of bitcoin is higher enough sell it with all your heart. 

Yes I agree with your trading strategy. First and foremost of course you need to study the different techniques and strategies that are needed to a successful trade. Second you must observed the price in the market, how it reacts or how and why it fluctuates. And lastly, if your ready to start your trading of course the most especially you must have courage and be brave and don't expect too much regarding your return of investment.

perhaps by trying to be more consistent in trading even with small profit targets but if it can be done regularly will certainly result in accumulation of large profits, because we know the current movement of bitcoin prices so active, so have the opportunity to benefit from the that situation .

I may not have much technical capability but as I observed, daily trading is a risk itself for a reason we’re stressed out because of unstable price that any minute might change too high or too low, without monitoring in a minute is a wasteful profit as they say.

So the first thing I should advice or tip anyone is control your emotions because a bad day might be a right time to skipped even just for a day. Because it is too hard to think when your mind is not clear and focus of what you’re intended to do.

Simple but sure if done continuously,this is called slow.I agree with you if this is applied to beginners I think they will be more consistent in trading.

Day trading is not easy so you should watch for some walls to have a clue to what price it may take that was the first rule for me, day trading is based on volune or high volatile altcoins that you can do a swing trade.

Apparently that is why it is called day trading, isn't it? That is where the difference between a long term trading and day trading comes in. You have to keep monitoring the charts, making pretty fast decisions and then playing out your strategies on each one. However, first rule is never bite more than you can chew. Have a strategy, stick to it and learn from your mistakes.

It's one of the most riskiest types of trading where gaining and losing can be bigger compared to those long term trades where we wait too much. So, the first rule here should be using take profit and stop loss levels because with these, gains could be much bigger if we put trailing stops and losses could be cut the similar way we may close the position manually.

Reading news. That is the first my rule before daily trading. You can not trade without informations. If you can know 1 news, your successful probability increases 1%.

There is no way you can ride with that kind of hype. Most of them are just quick pumps that happens like flash and most times will just trap your funds for a very long time without having anything. Might be OK for a long term trader but not for a day trader.

As per you said, it is better to concentrate on coins with good support, easy to read trend with every possibilities of trade not going wrong. You do not have to trade all the coins, just have a list of your portfolio and work with them. It makes things easier.

Simple but efficient strategy, surely there must be more knowledge you have when you are coming in day trade. In long term, you don’t have to cater much problems. All you need to do is wait and watch, how prices are going up and down. But day trade demands the basic and prior knowledge of daily market plus the ratio of margin for profits you wanted to earn this day.

There are so many things which you need to take care and that too in a well manner if you really want to go for day trading. Day trading is quite a different kind of things and it needs you to remain active and vigilant throughout the time. One wrong decision can result in huge loss of money. So it all depends on how good you are at managing the things and making decisions in short span of time.

Day trading is no doubt very much profitable thing but at the very same time, it is very much risky as well. Day trading actually demands you to be very much active and sharp mind so that you can actually rake wise decision and that too in short period of time.

The basic rule of day trading is do not lose your emotions no matter what the conditions are. Just hold your nerves and think well.

Do not trust your feelings.  Many newbie traders loss a huge amount from making trades based from their feeling.  Study how to read charts and consider the advices of veteran crypto traders. Some of them can be seen from tradingview or twitter.

As you said if you want to be a trader then you need to maintain many qualities to be successful.And you need to
have lot of the first is Time Investment to Day Trade Successfully.Day trading isn't a get rich quick career, nor is it something that takes years to gain consistency at. Expect to spend six months to a year honing your skills and practicing a strategy before you become comfortable with it in all conditions.

Its take time before we can really say that we can move forward with day trading, skills and knowledge should be in a proper place before we really
engage our self and do this thing, many have failed due too lack of proper education as they just place their investment with instinct and not a well
informed strategy.

First rule will always be, DO YOUR RESEARCH! Never jump into something you don't understand. Especially when it involves money. Then, when you have understood the system and you think you have a little grasp on it, then you could test the waters with something you can afford to lose since you're just starting. We all have to lose sometime to become good traders, right? 😉

I guess the fist rule in trading is "invest only the amount that you can afford to loose".

For me that is not to make small transactions, not worth it. You know, the cost we pay for every transaction is quite high so if we do transactions on a regular basis without control, the amount of money you have to pay for the fee is not a small amount. That's the reason why I want to put this principle first.

So here the question is directly pointed for the day traders. Day trading is only meant for the traders who are doing full time with full preparation of knowledge and practise. I mostly avoid day trading or you can say i do very less precentage of day trading because i like to invest than day trading.
I always remember the quote's of famous trader Warren Buffet, So rule number 1 says that "NEVER LOOSE MONEY"and the 2nd rule says that "NEVER FORGET THE RULE 1".

I think when trading, the exact factor is the most important thing. The smallest mistakes  when performing a transaction can also cost you some money. So, for me the first rule when implementing such transactions is to be very accurate.

I've been searching for a thread like this and the responses were helpful to those who want to take a new level of earning Bitcoin.
Trading is introduced by a friend that doesn't count me in dealing with as other ways to earn money. But it feels better when you read the comments and realize that you are not yet ready to trade.
Thank you guys

For me the first rule is trading is the "technical understanding". To be a successful traders you need to have a knowledge on how the market works. Since you are referring to day trading I guess you already knew that a large portion of your time is in the front of the computer as you need to check always the market changes. And also consider this rule "buy when the price is low and the sell when the price is high"

Always check the prices. All the coins that you hold and the price of btc. The coins that are pumping on coinmarketcap because sometimes there are chances that you can do an arbitrage. Check also the price of the altcoins that you want to buy if they fall on your buy target.

dont be greedy and you have to planning your win or lost percentage. it will reduce the risk.

I think daily trading is not such an easy job there you need a lot of experience and luck. you must have good skills of daily trade, because the chances of losing money in day trading are more as compare to long term trading. I think the most important rule of day trading is to have some planing and strategy about day trading.

I think you should start trading on a scale of capital that I do not say too much because I think the crypto market movement can not be predicted because the price changes will continue to move every minute or even every second. Crypto trading is an activity that has a high enough risk I think it takes a lot of patience from you because many of the traders who make mistakes because of panic over what they do with the decline in the price of crypto in the trading market.

As a daily trader me nevery expect to get more than 1-2% on a single day.
its very bad if you expect more.
Cause even this will heppen one day it will not happen all the day and you will suerly loose money one day if you greed more.
Daily trading is a very hard prospect .you need to be very conscious while you trade daily.

for me it is a hassle trading. Bouncing of the token to eth then to btc is such a waste that most of the money is going to transaction fees and gas. But i also expected this kind of hassle but at least i am learning new things and creating many accounts in such sites. And daily trade for me is really absurd. Because it is not always everyday that i get coins but perhaps at least thrice a week.

Watch market updates and then start to trade

One thing people often neglect is the importance of having a stop-loss.

When u set your order, you should be mentally prepared to close out the order if your losses exceed a certain point.

Most people tend to panic and hold on to their coins in an obvious downtrend, hoping that price would go up.

Sometimes it pays off and price rebounds, but sometimes it can be disastrous if price never returns to prior levels (e.g bancor).

Trading is a lot about discipline and it helps to stay rational.

For me the first rule in trading is buy/low sell/high. I followed this rule when i was new in trading. But along your journey of being a trader, you will learned other stategies.

Buy low sell high is the rule can not be changed when trading, you can't buy high sell low ;D. My opinion patience is the first rule of daily trading in crypto currency.

Learning to read charts is important - spotting daily trends - and also researching the company to see what big events, releases and updates they have coming out. From many coins have a good 10-20% range on a daily basis - obviously not 24/7/365 - but it's always good to watch the coin for a while and study the patterns of people.

oh yeah, and stop loss :)

All the best!

Indeed daily trends really helpful for the short term traders and really beneficial for the short term traders. it is the most profitable one if you now how to ride with the hype and we should expect that after the huge price comes there's always a fall since most of the shitcoins are placing some good signs so that they could trap the huge fool traders like me before 2 to 3 year back when i just started trading but once you got into it and know all the ethics of trading it is really an easy job and exiting as well.

I am a person who has a lot of time spent in a day so I will share you some things that I do I search for coin in the market and find some articles about it maybe on reddit or bitcointalk and then that I can order to buy coin on the floor then follow some information of the market bitcoin

doing research in advance is indeed a major factor for trading, researching carefully the market price movements and see what coin growth we will trade in order to always be able to benefit.

In my opinion the first rule of daily trading is the profit margins of that day. I mean if you trade something and you observer the market value of that particular thing then you will make your trading more easy and profitable because if the profit margin is very low or even zero then there is no need to trade something on that day.

For example gold because the price of the gold vary every day and the gold traders should keep the price first before trading in that day.

I believe the very first rule that applies to trading cryptocurrencies online is mostly invest what you can afford to lose, and that rule does not mean you will lose your money, it’s just to remind you that trading is risky and that you’re likely to lose your money. Cryptocurrency trading is not an easy task to do, it’s quite difficult and not everyone can jump into it or you will end up losing your money.

You have to go through some.series of training before you can become very perfect in trading, but this doesn’t mean that being a professionals makes you an exception, rather it reduces the risk.

In my opinion, for daily trading, a trader must have no fear of facing the loss because in this case the probability of facing the loss is larger and a person must have a very good understanding of his digital asset. He must stay up to date and alert.

I find this a very tough task and day trading requires the trader to stay alert. I have seen people who really make profits this way but my talent is zero in this case.

In my opinion, the first rule in trading is to set your plan everyday, because setting plan can arrange your steps and to avoid forgetting some ideas you need to take note, setting plan include sourcing all information before going to a trading process, always considered all the possible outcome of your decision whether it good or bad, and always become a risk taker. this are the rules that you need to considered in daily trading but most important is the "plan".

My number one rule is to learn to limit losses as well as maximising gains, inevitably you will have bad days where you lose money but it is just as important to limit losses on these days as to maximise gains on good days.

I read in one article about the rules of trade - one of the main tasks is to protect your trading capital...perhaps this is not the first rule of every day, but this is an important rule for me... and this means no unnecessary risks...and this doesn't mean the absence of any unprofitable trades - all traders lose, this is part of the business ... it means to approach to everything with the mind and without unnecessary emotions...

Watching the price of the coin and how it performs for a decent amount of time IMO.

Never trying to earn more than 10% is the first rule i think we have to keep in mind. Greedy will push us into the loss in every scenarios.

Only watching and there is no buying ? I think you should buying this coin today and watching another coin for tomorrow surfing is for suitable ? I think maybe you should wait for the right moment to make buy and sell orders, not only watching. Only watching will make you miss the opportunity.

Protecting your capital isn't the first rule in trading. What happen if you're only winning ? I think the first rule in trading is figuring out where is the right new to use. Protecting your capital is protecting the results when you're winning.

honor the stop-loss

Always have a trading plan. It would be good if you already know where is your entrance and exit strategy to the trade so that as much as possible, you can avoid getting your emotions involve in the trade. If in case you don't have a trading plan and just buy a certain coin because it is getting hype then it is either you are lucky why you are in profit or you got what you deserved when you are at loss because you didn't think of a proper plan. One of the struggles of the traders are the emotions during trading because they will either become greedy if already in profits or still hopeful that the price would still go up even if they are already in a major loss because they didn't use stop loss.

Much better to start off your trading day by first checking the news for latest developments, because nothing moves the market like the fundamentals, technical analysis merely works within the boundaries so set by the fundamentals. In the event that  a high impacting news is in view, it's always safer to wait and see! In the absent of any major news, then a look at the charts to ascertain if the market is already overbought or oversold and then looking for good entry point. Tools like pivot points, Rsi, Bollinger Bands, Stochastic,etc can be of immense  help.

Number 1 rule for me is don't give in to FOMO. If a coin is already pumping, resist to join in. If you have assets and profit is already within reach with pump slowing down, sell it. Play it safe and don't be greedy.

I believe that for day trading you need to have a lot of time, day trading is a full time job. If you don't have time for spending by the computer, watching charts, follow news, and act in minutes when you need to then don't count that you can be a good in day trading.
Time and money for spending, don't practice say trading with all the money you have, practice with one part of your bankroll and of you lose some money you need to have more to try again tomorrow.

In daily trading there are alot of reminders that you always need to remember, try to relax as much as possible and don't let emotion interfere so when you're making a decision you can make sure that it is the right decision if you just recklessly make a decision because you're panicking then you'll gonna lose much bigger. Try to be as knowledgeable as much as possible, you don't want to enter a war without any weapon do you? So try to research and read some article about the market before you enter trading and try to analyze the market to help you a make that right decision and finally trust your instinct and Pray.

Firstly, check your chart to analyze  the overall  trend are we still in bullish sentiment as being presently observed in BTC/USD? if yes continued to hold on your coin,  although there may be consolidation or pullback of price do no panick, if want to buy freshly wait for pullback before pulling the trigger.
Finally, if exhaustion candles like dojis, bearish engulfing bar, bearish harami is observed then that may likely  be the end of the bullish sentiment.

Have different assets in your portfolio. Be focused on each and every price move happening with the digital assets. This will let you make the right buying and selling decisions. Avoid the tendency that you need to make certain profit for the particular day. If the market is not in a situation to support, then leave it. Don't go trying for profit making and end up in losing.

When I join in cryptocurrency, my first rule is "not greedy". If you can control yourself, you will not be panic when the price down and will not be greedy when the price goes up.

There are a lot many factors that are needed to be kept in mind while we are trading on daily basis. Most important among all of them according to my belief is that one should keep himself up to date about the daily prices of cryptocurrencies in market. This is because being an aware of the price can cause you loss at your end.

The other thing is that a person should set up some limit for each day while trading because we all know that anything in excess does harm you. Being greedy about earning more and more money would not take you anywhere except a huge loss at the end of the day.

Following

understand and have knowledge with what coins I will trade, by looking at their threads, then see the market situation whether the coin is worth to be traded. and this is the main thing, buy cheaply, then sell with high price.

My first rule is "do not panic sell". You have to keep your mind. Believing what you have learned and your research. Don't buy and sell follow the trend.

Daily trading and longterm trading have fundamental difference, ie a shorter timeframe. So, my rule in daily trading is when i get little jump or +2%.

The first rule, is to trade only the coins that you are willing to loose. In the crypto-world we do not know when the price rollback since they are so volatile maybe now or tomorrow. So we need to be wise on dealing with that.

One can regard this as first rule of trading. If a person learns to control his greed then I think that there is a minimum chance of any loss. Most of the people actually get greedy when the prices are high and think about selling their coins for getting maximum profit and investing it in some other business earning more and more and returning to the buying of digital currencies when the prices face a dumping phase.

First rule of day trading is to control greediness.
Then you have to control your emotions if you have losses in your trading.
These things are the physiological aspects.
Other than that everyone should enrich their technical analysis to become a good day trader.

The first rule of daily trading in my opinion is to be very calm, patient and wise.  With the fluctuations in the market it is important for the investor to control his emotions and focus on work. One should observe the prices of digital currencies because this observation will make you prepare for any type of circumstances. One should not be greedy as greed is worse.

the first one is that you do not have to be afraid to lose because we do not know the trend of trading without spending money on trading because we do not know tomorrow morning that your money is down.

This is really a monumental answer for this question. Such a simple one line answer have all answers hidden in it. Following is definite the best strategy or you can say an action that you have to adopt strictly for better results at the end of the day in day trading. It is little tiresome and bore but there are many people who are earning 0.01 BTC daily just by day trading.

Following the strategies and goals you set a day/week/month ago, only that way you will be prepared what to do when you are faced with bull or bear market.

If haven't done so, you are going to deal with emotions and that is not a way to go.

You might get lucky sometimes, but on the long run, you will fail to bring and positive results to the table. And eventually market will digest you.

10% depends in your quantity of trading position and i've met many that get a lots of that, lots of traders accumulate their profits weekly , monthly or even yearly basis so i think 10% didnt make any differences, if you are riding the trend then why did you jumping off, i think its good to have a better executed planned before entering any trading position rather than trading based on percentage of profits and loss

First and most important rule in Bitcoin trading (and any other as well) is to make profit from every trade. If you do not make a good trade and earn even a little bit, you are certain to fail. We are bound to make few bad trades along the way, but we must strive to earn more by trading not other way around. So for me that is first and most important thing to have in mind, whenever I think about any trade.

We should always evaluate ourselves in trading, how much are we willing to lose money? there is no guarantee that we will earn more during the first we entered trading if you gain during your first time then you are lucky, yes we will lose money/btc but it is not what we have lost it is the lesson that we have learned and apply it on our next trade.

Usually most do is buying low and sell high, but ofcourse you have to learn and earn knowledge in trading. Because this will help you throughout the course in trading. Also, it is best that you know and face the fear of loses and just invest on what you can afford to lose. Because the market is downtrend and uptrend that we should be aware of it.

First rule? Study before you engage. Its very important to know about the coin we're going to invest in especially if its short term. Read forums, follow social.media pages, watch videos. These things will give you information that would really be helpful especially for day trades

See what I do. I am using 3-4 types of altcoins for short term trading. Furthermore I have an eye on BTC and ETH during at least half a year and only then sell or buy.  All investment distributed in proportion 50/50 between altcoins and ETH/BTC.

and what is the best percentage share for the airwaves? How many can these coins be needed for payment by the Miner? It seems to me that it's more. You need to give preference to Bitcoin. And then for altcoin, which you can trade.

That's great job there is a lot of buzz for ETH which started before couple of months when the value shoot up even i am planning to invest into ETH with little further research and forecast but i would prefer 70:30 ratio or or else invest into BTC, ETH and Litecoin with 40:30:30 ratio to understand better about the percentage of profits with the duration.

predefine a price of entry so that you are in control of when to buy; set up a clear gain margin and stop-loss and STICK to them, don't get too greedy or too clingy. if it's in the price to sell (be it profit or stop-loss) drop that shit.

But the best one i would suggest is bitcoin alone instead of waiting for slow and little returns (doubtful) with other alt coins you should invest more in bitcoin than any other crypto currency as the returns in bitcoin is easily outnumbers the returns with other coins so i would always prefer bitcoin rather than any other coin.

Analyze before you enter a market.

Excess of everything is bad and in daily trading remember one thing right decision counts more than anything so do trading on some part don’t go for the big piece maybe you will be disappointed I also do same thing I see the market and then take decisions that can give me a profit and I usually spend all my time to analyzing the market and this give me huge in short terms and I am bit satisfied of my strategy.

I am on the side of controlling emotions. Actually trading is all about decision making and when you are deciding for one particular thing, your exemptions must not be coming along the way. If you re over controlled with emotions, believe me your decision will just become raw and you are ending with huge losses. So make your day better with trading while controlling your emotions.

I am not a good trader but as what I observe with people I know that do day trading they are only after with 10 to 12 percent profit with every coin they trade and they always set 10 percent of loss and then move on to the next trade. They do not trade only one coin in a day but a lot of coin.

The first rule of trading in my opinion is to have ample amount of knowledge before you actually start to trade with your cryptocurrencies. On the other hand, the well control of your emotions and technique to not get panicked in any situation is good for the trading purposes.

Short term trading must not be opted at the beginning level and if you have been into trading sine along time, then you could go for direct trading ad well that is no involvement any third party and having direct contact with the buyer or seller.

Exactly! there is no point of denying this fact that you actually need to follow this policy of buying the coins at low price and selling them at high price if you actually want to get something profitable in return. In addition to this, you actually need to make a wise decision while deciding which coin you have to buy as the amount of profit which you will earn will greatly be dependent on this.

Watching the price of the coin and how it performs for a decent amount of time IMO. You get more and more familiar with the coin's price and how it performs.

Biggest rules I wish I would have realized were to be content with a smaller profit vs waiting to double my money off of one coin. I have seen much higher profits for myself lately by trading multiple coins at smaller % instead of putting all of my eggs in one basket. It also really helps with controlling your emotions as well.

Yes specially that you are deciding on how you would be chosen this coin on how long does it take before you can earn profit and how long you tryst that coin are depending on how you see that coin so first rule is on how you analyze that coin for.

In my opinion First rule is patient and dont be greedy then second rules is always buy coin when oversold, then take profit by maksimum 20%-30%. Greedy trader is mean lose and lose and never profit, also dont forget to decide stop loss area /cut loss area because this important when the price going down continue, so the risk and the loses will be less.  Then also learn about fundamentally of the coin, this is also important when to do longterm trading.

The first rule of daily trading should be setting very low margin for profit and taking that profit as fast as possible! If you can find enough capital to trade, you are likely to make some appreciable amount of profit.

Best advice a trader must have is this one,purely caming from experience that
Leads to success.nice advice Mate its really admirable to read such advices with
Really good intention.

The OP needed one rule of daytrade,i believe mate has mentioned it all but added
To it dont lose faith on your coins,if you missed the expected target and it continue
To drop just hold it dont panic to sell it for lower price because it will recover for sure
Maybe not at the moment but in a long run

The first rule is to check the chart.

the other important thing:
Make a goal, 10% profit or more then you can get out to seek other things

In my opinion, controlling emotion is the first rule when starting trading. If you can not control yourself, you will lose so much

Following the coins you wanna get in and learning the trends are key factors in day trading.

Honestly, i am not yet into trading (except of exchanging some btc to ltc etc) but here is how I handle almost everey risk:
 NEVER RISK MORE YOU CAN AFFORD TO LOOSE!

My first opinion of daily trading in crypto currency is to exchange or buying some have potential of differrent
kind of  altcoins into the blockchain market and hold its while the value is still low and after that you find out that the market value will grow thats the time you goes it market exchanges.In other terms its like you done a  small business of livelihood and the time that it will grow you must sell your livestock in market.

Well, the first is not going nuts, and this rule might be apply not only toward trading buisness, but for much more, never gone nuts, my friends!

I'm not good at trading, and I'm normally better of leaving my coins alone, otherwise I will probably lose them. I think day trading is incredibly difficult because unless you are a big whale and can influence the market, there i not much you can do actually. I guess your goal is to try to catch a ride, but you don't know for sure you will get it. You can try winning small ticks of course, and you will probably do it well, but a whale comes in and you are caught in a swing that goes against you, and all your profit if gone, you can risk it and let it be, because after all it's all a cycle, but if you do that you are not really trading.
I guess you must have you entry and exit points well defined and stick to them, at the same time you pray that a big whale will not mess up your day. Besides that, I guess there is not much you can do.

To be active into day trading it is must to select the altcoins that shows regular price variations. This will let the user be active into buying and selling process gaining a small earning based on the investment. Furthermore when the user gains experience can widen the trade with different altcoins to bitcoin pairing rather than opting for usd.

I believe that one of the things we must take into account is the study of the market, where we are getting ourselves and under what conditions we do it. From there we create our own strategies.

Normally I'd say that trading follows the same rules no matter the period. But with crypto things are different, volatility even amongst the most recognised of them all, is even more pronounced... which makes Bitcoin a perfect commodity for daily trading I guess.

More than other periods, daily trading has a distinct flavour of gambling, so the golden rule has to be to trade with money you must expect to lose. In this case, fix a percentage of bankrolls for each daily trade and strictly adhere to stop loss and profit taking.

You're daily trading to close and realise profit/loss for the day, and start fresh the next.

The first rule of daily trading in this my opinion are controlling emotions is the first rule before start trading if can't control this mean you may get losses in trading and to be active into day trading it is must to select the altcoin and that shows regular price variation furthermore when user gain the  more experience in widen with the different trade altcoin to bitcoin paring rather then the opting For used in the to the trading.

the first rule is you are must be ready for the risk in daily trading, you must be ready to los all your funds, therefore, never put all of your funds in daily trading, it will give you daily profit, but the tendency of your loss is increased if you want do that now, think again before doing that, moreover you have no experience about that.

Trading is very risky, the best need to do is observing the price every day or every minute to don't miss the opportunity of best price, but how we know that the best price? We need to read about the coins, the price you think that it is enough to earn profit.

The possible we need to do is to set the want price to avoid wasting time in observing.

We have own way of trading, my friends said that we need to wait 3 or more months because there is a right time only need is to wait.

The first rule I always keeping in my mind in trading is always :

"To protect my capital and profit."

This was discussed during the trading summit which I attended and I do agree and realize now. I always save me capital in trading what ever happens. WhenI am losing, I just cut lose and look for another good market. I do hold  also for long term tokens but mostly are on top coin in coinmarketcap.

Well I'am not a professional traders but i have some rules. So before you start trading you should have funds to be trade when you were ready in trading, do a background check and study in what happen next in your trading. The most important when you are trading is please be verified all of your exchanger account in able to withdraw your money at as the same time. it was happen to me, i put some money on exchanger to be able to trade but my account is not verified that is why i cannot take out all of my money. In short it was locked on my account. Read before doing something that is the best rule.

you never thought that creating an excitement by the desire to trade, we raise the price of coins that may not in their essence have good prices? I mean that the product that represent Which coins may not have a long-term perspective, but because traders generate demand, the coin rises in price.

First you must learn to be calm and do not let you emotions take over, along with always getting updates. Whenever i do trading, i always make sure that i there are a lot of tools open so i can see the value of bitcoin in real time and the value of the altcoins that i want, so i can speculate, even if the value goes down or up, i always keep calm and try to be logical and at the same time, consider the feelings of people whenever there are FUDs and hypes.

1. get your mental ready to afford to lose.
You need to be really careful when analyze. Better with studies tools like stochastic, RSI, etc.
you need to look how many supports which can stand against sell wall, how much it increases from last time, how much it decreases.
need to see how's the pattern from buying and selling charts.
but, the most important is actually you need to be whale to be able to influence the market or charts mover, like pump and dump group (this point is just bonus if you are)

being and having some discipline with your self is a good way also for being in a day trade yes you need to be updated but dont take too much time i mean dont take you full time here in day trade so it may you have some control with your emotions here in day trade

The first you of trading is that you should not buy anything you dont understand. Before investing in any coin, you must reseach carefully. That's my advice for you

This! Research, Research, Research. With the advent of the internet, all the information is out there and available (especially in great places like this forum). It just requires time and patience to study up. Something which I'm doing feverishly  :)

The first rule of daily trading in my option is to think how will be me a profitable in this business, and what is the best opportunity to grab of when they’re a great chance to everyone is favorable to gain income.

My first rule of daily trading this refers to trading as a business. Serious attitude, competent approach, risk management. It is important not to lose the budget, and not just to make a profit

the first rule of daily trading for me is never go with all in any conditions because I have a bad experience with all in my money and it takes too long for me to recover the money. even if I feel confident with the coin price, I am not going with all in because I know that in cryptocurrency, everything can be happen and if in this minute, we see the green line then in the next minute, the sign can also change into the red line and I don't want to make the same mistake like what I did in the past.

I think that patience is always the thing that we need to think about when we decide to follow trading. You need to understand that without patience, you can only lose your money in trading. THe next thing you need to think about is your knowledge. You need to learn trading every time you have a chance because trading requires a huge knowledge and experience