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I have been learning about Stock, crypto trading from 2 weeks. I started by learning a bit by reading book about Technical Analysis (only basic/popular TAs) and other basics.
I started with short term trading (1-3 days). Very little profit. After I tried intraday trading with margin, but had loss even in bullish market. I am not planning to touch future trading with a ten feet pole though.
Eventually I think I am able to control my FOMO, became aware of PnD schemes, bots, profit greed. I am not doing margin trading really, and focusing on quality trades over quantity. I have become very careful with trading but still I am losing money. Yesterday I lost some money because my SL was very close. Market went up but sadly after triggering my SL.
I am kind of invested full time into it right now because of lockdowns. But not investing much capital (I am okay if I lose all the invested money). My goal is to test the waters and see where I stand. Can I become an independent full time intraday trader (I am currently a freelance Software Engineer) or it should be a side-income or I should forever stay away from it.
I am wondering if you guys have any tips for me. There are so many things I can do which is overwhelming.
- Monitoring for PnD in advance by their free telegram groups, constant screening of prices. But monitoring so many shitcoins is overwhelming.
- Manual trading bots, grid bots, automatic bots. I am especially curious about DCA bots. It's not possible to do it right manually.
- Learn more about Technical Analysis. Maybe I am not doing it correctly. Is there any guide/ebook which explains it good in terms of crypto.
Any tip or advice is welcome.
I started with short term trading (1-3 days). Very little profit. After I tried intraday trading with margin, but had loss even in bullish market. I am not planning to touch future trading with a ten feet pole though.
Eventually I think I am able to control my FOMO, became aware of PnD schemes, bots, profit greed. I am not doing margin trading really, and focusing on quality trades over quantity. I have become very careful with trading but still I am losing money. Yesterday I lost some money because my SL was very close. Market went up but sadly after triggering my SL.
I am kind of invested full time into it right now because of lockdowns. But not investing much capital (I am okay if I lose all the invested money). My goal is to test the waters and see where I stand. Can I become an independent full time intraday trader (I am currently a freelance Software Engineer) or it should be a side-income or I should forever stay away from it.
I am wondering if you guys have any tips for me. There are so many things I can do which is overwhelming.
- Monitoring for PnD in advance by their free telegram groups, constant screening of prices. But monitoring so many shitcoins is overwhelming.
- Manual trading bots, grid bots, automatic bots. I am especially curious about DCA bots. It's not possible to do it right manually.
- Learn more about Technical Analysis. Maybe I am not doing it correctly. Is there any guide/ebook which explains it good in terms of crypto.
Any tip or advice is welcome.
I'm in a similar boat to yourself, but i have been paper trading for two years before lockdown happened boredom pushed me fully into it. Now i can make shitloads of money papertrading, the real thing is a whole different ballgame, im just about managing to stay even most of the time, when you make a bit of money its a lot easier to lose that gain. the best advice i can give you is make the smallest trades possible and do not "try" to make money, try to enjoy learning the right way to do it instead.
Two weeks of learning really is not enough, but that being said if you can afford to "pay" for your education i.e learning from your losses then its totally fine, as long as the money you are losing isnt from your mortgage fund.
