Trading Tips On Day Trading and Shorts?

[blester]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

I am looking for a somewhat solid daily growth strategy to use and raise some coin.



Thanks in advance.

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[VenceyBit]

Arbitrage or buying alts on different markets and then selling them to another exchanges with a better price. It’s not essential for the price to change, you are essentially profiting only from the differences in price by different providers. This is one strategy i use when short trading. But this is very rare in the market and when you see one check first the wallet if is ok to transfer.

[Iranus]

Lisk (LSK), MaidSafe (MAID), and Monero (XMR) are the best coins for that right now IMO.  You could also do it with BTC/ETH pairs.

The important thing is that you work on minor fluctuations rather than trends.  You need to use some basic technical indicators such as Bollinger bands, and begin to devise a strategy based on that.

The important thing is that you see the range that they're trading in and buy/sell based on that.  

Set stop loss pretty high for this because big movements could crush your profits.

[ktabb]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

I am looking for a somewhat solid daily growth strategy to use and raise some coin.



Thanks in advance.

Just fyi, there is nobody who can consistently outperform the market by buying and selling crypto (or any asset, actually) in this small of a time frame. This is 100% luck-based gambling and there are no tips that will help you perform better other than to do thorough research and hold your positions for a much longer time. Anything other than hodling in crypto is gambling.

[blester]

Arbitrage or buying alts on different markets and then selling them to another exchanges with a better price. It’s not essential for the price to change, you are essentially profiting only from the differences in price by different providers. This is one strategy i use when short trading. But this is very rare in the market and when you see one check first the wallet if is ok to transfer.

You are not the first I see saying arbitrage is a good one, I will check that out, too bad it is very rare, as you said, because I am looking for a consistent daily profit strategy to make a somewhat guaranteed income, and simultaneously long trades.

[blester]

Lisk (LISK), MaidSafe (MAID), and Monero (XMR) are the best coins for that right now IMO.  You could also do it with BTC/ETH pairs.

The important thing is that you work on minor fluctuations rather than trends.  You need to use some basic technical indicators such as Bollinger bands, and begin to devise a strategy based on that.

The important thing is that you see the range that they're trading in and buy/sell based on that. 

Set stop loss pretty high for this because big movements could crush your profits.

I will check those coins, the main strategy I have in mind is, like you said, take profit on small daily fluctuations, but coins are kinda volatile right now and I am not being able to identify a coin with this pattern. I studied a little bit of technical analysis for day trade, but the problem is that it is very unpredictable and you have to be on the PC almost all the time watching the behavior.

But when you say to set a high stop loss you mean like, for example, if I can take a profit of 5% per day, my stop would be around 5% too?

[blester]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

I am looking for a somewhat solid daily growth strategy to use and raise some coin.



Thanks in advance.

Just fyi, there is nobody who can consistently outperform the market by buying and selling crypto (or any asset, actually) in this small of a time frame. This is 100% luck-based gambling and there are no tips that will help you perform better other than to do thorough research and hold your positions for a much longer time. Anything other than hodling in crypto is gambling.

Well, I disagree, of course there is luck, but when you watch a movement making a particular pattern you can tell the odds of completing or making another movement. That's why indicators and technical analysis are used, they indicate a trend or movement.

[Iranus]

Lisk (LISK), MaidSafe (MAID), and Monero (XMR) are the best coins for that right now IMO.  You could also do it with BTC/ETH pairs.

The important thing is that you work on minor fluctuations rather than trends.  You need to use some basic technical indicators such as Bollinger bands, and begin to devise a strategy based on that.

The important thing is that you see the range that they're trading in and buy/sell based on that. 

Set stop loss pretty high for this because big movements could crush your profits.

I will check those coins, the main strategy I have in mind is, like you said, take profit on small daily fluctuations, but coins are kinda volatile right now and I am not being able to identify a coin with this pattern. I studied a little bit of technical analysis for day trade, but the problem is that it is very unpredictable and you have to be on the PC almost all the time watching the behavior.

But when you say to set a high stop loss you mean like, for example, if I can take a profit of 5% per day, my stop would be around 5% too?

You observe the rough daily price fluctuations and the areas which it has been moving between and consistently sell based on the daily fluctuations and some other indicators.

You set your stop loss outside the daily fluctuations by about ten percent so that if there is an adverse price movement you get out without sabotaging your profits too much.  You need to keep an eye on the fundamentals of your specific coin and news about it too, for example how far along the development of MaidSafe's blockchain based cloud computing system is or what scaling solutions miners have been supporting recently.

[ktabb]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

I am looking for a somewhat solid daily growth strategy to use and raise some coin.



Thanks in advance.

Just fyi, there is nobody who can consistently outperform the market by buying and selling crypto (or any asset, actually) in this small of a time frame. This is 100% luck-based gambling and there are no tips that will help you perform better other than to do thorough research and hold your positions for a much longer time. Anything other than hodling in crypto is gambling.

Well, I disagree, of course there is luck, but when you watch a movement making a particular pattern you can tell the odds of completing or making another movement. That's why indicators and technical analysis are used, they indicate a trend or movement.

You can disagree all you want but unless you can show evidence of a strong correlation between these indicators and price movements, you can't accurately make the claim that these signals indicate anything. Show me one person who has consistently outperformed the crypto market. I don't think you'll find anybody who has done this over the course of more than, say, 1 year.

[blester]

Lisk (LISK), MaidSafe (MAID), and Monero (XMR) are the best coins for that right now IMO.  You could also do it with BTC/ETH pairs.

The important thing is that you work on minor fluctuations rather than trends.  You need to use some basic technical indicators such as Bollinger bands, and begin to devise a strategy based on that.

The important thing is that you see the range that they're trading in and buy/sell based on that. 

Set stop loss pretty high for this because big movements could crush your profits.

I will check those coins, the main strategy I have in mind is, like you said, take profit on small daily fluctuations, but coins are kinda volatile right now and I am not being able to identify a coin with this pattern. I studied a little bit of technical analysis for day trade, but the problem is that it is very unpredictable and you have to be on the PC almost all the time watching the behavior.

But when you say to set a high stop loss you mean like, for example, if I can take a profit of 5% per day, my stop would be around 5% too?

You observe the rough daily price fluctuations and the areas which it has been moving between and consistently sell based on the daily fluctuations and some other indicators.

You set your stop loss outside the daily fluctuations by about ten percent so that if there is an adverse price movement you get out without sabotaging your profits too much.  You need to keep an eye on the fundamentals of your specific coin and news about it too, for example how far along the development of MaidSafe's blockchain based cloud computing system is or what scaling solutions miners have been supporting recently.

Ok man, I will look into it, thank you for the advice.

[blester]

You can disagree all you want but unless you can show evidence of a strong correlation between these indicators and price movements, you can't accurately make the claim that these signals indicate anything. Show me one person who has consistently outperformed the crypto market. I don't think you'll find anybody who has done this over the course of more than, say, 1 year.

There is correlation in technical analysis, just yesterday I saw a trend reversal happening and took a profit from a movement of VIA, a small amount because I like to make safe moves.

You can never be 100% certain, but you can have the odds of approximately 60% in your favor if you do the correct analysis. And you don't outperform a market, you just need to be in 3:1 profit ratio most of the times.

If what you are saying was true, people couldn't be professional traders because they never will be more than 50% certain of a movement and in the long run, if you always invest in a 50% chance of 1:1 ratio, you will end with the same amount you started.

[ktabb]

You can disagree all you want but unless you can show evidence of a strong correlation between these indicators and price movements, you can't accurately make the claim that these signals indicate anything. Show me one person who has consistently outperformed the crypto market. I don't think you'll find anybody who has done this over the course of more than, say, 1 year.

There is correlation in technical analysis, just yesterday I saw a trend reversal happening and took a profit from a movement of VIA, a small amount because I like to make safe moves.

You can never be 100% certain, but you can have the odds of approximately 60% in your favor if you do the correct analysis. And you don't outperform a market, you just need to be in 3:1 profit ratio most of the times.

If what you are saying was true, people couldn't be professional traders because they never will be more than 50% certain of a movement and in the long run, if you always invest in a 50% chance of 1:1 ratio, you will end with the same amount you started.

First of all, the anecdotal example you gave proves nothing. Profiting one time on a trade doesn't mean anything.

Second of all, trading is not binary like you are suggesting. It's not like your prediction is just right or wrong. you can profit on half your trades and lose on half of them, but if you only profit 5% when you're right and lose 10% when you're wrong, you're gonna lose a lot of money. Even if you are right 60% of the time, you'll lose money.

All that being said, none of this matters. You can trade crypto and profit, but if you profit less than holding then you have underperformed.

There are no "professional" crypto day traders out there who consistently beat the market. Even in other assets this is extremely rare, if it even exists. Show me a single person or example of somebody day trading and beating the market. I am certain you won't find anyone.

If you want to make real money consistently, learn to trade stocks over periods of time between roughly one and four months. That is what I do and I continually crush the market. Day trading crypto is gambling and the more you do it, the greater your chances of losing. Stock trading involves skill/knowledge and the more you do it and learn, the wealthier you will become.

[Renji Abarai]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

I am looking for a somewhat solid daily growth strategy to use and raise some coin.



Thanks in advance.

Just fyi, there is nobody who can consistently outperform the market by buying and selling crypto (or any asset, actually) in this small of a time frame. This is 100% luck-based gambling and there are no tips that will help you perform better other than to do thorough research and hold your positions for a much longer time. Anything other than hodling in crypto is gambling.

Well, I disagree, of course there is luck, but when you watch a movement making a particular pattern you can tell the odds of completing or making another movement. That's why indicators and technical analysis are used, they indicate a trend or movement.

@blester I agree with you. Though there is a luck factor, but on the movements in trading you can apply technical analysis and study the patterns or graphs. They say that history repeat itself, so is with the trading history. You can stud it and be alarmed when there is a trend.

[ktabb]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

I am looking for a somewhat solid daily growth strategy to use and raise some coin.



Thanks in advance.

Just fyi, there is nobody who can consistently outperform the market by buying and selling crypto (or any asset, actually) in this small of a time frame. This is 100% luck-based gambling and there are no tips that will help you perform better other than to do thorough research and hold your positions for a much longer time. Anything other than hodling in crypto is gambling.

Well, I disagree, of course there is luck, but when you watch a movement making a particular pattern you can tell the odds of completing or making another movement. That's why indicators and technical analysis are used, they indicate a trend or movement.

@blester I agree with you. Though there is a luck factor, but on the movements in trading you can apply technical analysis and study the patterns or graphs. They say that history repeat itself, so is with the trading history. You can stud it and be alarmed when there is a trend.

This isn't a matter of opinion. You guys aren't providing any evidence for your claims. Have you guys personally outperformed the crypto market with your trading? I doubt that you have, or know anybody who has.

I challenge both of you guys to try it. Go to www.demoinvestor.com and create two accounts. In one of them, immediately buy $50k worth of Bitcoin and hold it. In the other, actively day trade Bitcoin. Let's check back in a few months and compare them. We'll be able to see how they are doing on the leaderboard.

[affandi]

Currently I do not have favorite coins ,,
The most common strategy is to look at the volume. When looking at drop coins at least 30-40% ,, there usually I start to make a purchase. But before we have to know first supply of the coins ,, in order to be calculated the price is suitable for the coin.

For more safe again ,, we add buy order under it with bigger value. This prevents when the coins drop past the first buy order ,,. To reduce the risk of loss

Hopefully help you when doing daily trading

[blester]

Currently I do not have favorite coins ,,
The most common strategy is to look at the volume. When looking at drop coins at least 30-40% ,, there usually I start to make a purchase. But before we have to know first supply of the coins ,, in order to be calculated the price is suitable for the coin.

For more safe again ,, we add buy order under it with bigger value. This prevents when the coins drop past the first buy order ,,. To reduce the risk of loss

Hopefully help you when doing daily trading

What kind of volume you pay attention to? Last 24 hours or buy and sell volume variation?

I am thinking about creating a spreadsheet to calculate the percentage change of the last minute, 24 hours and 7 days of volume variation in the 24 hours volume indicator, this is the kind of volume variation that you are talking about?


Thanks for the response.

[BrewMaster]

Arbitrage or buying alts on different markets and then selling them to another exchanges with a better price. It’s not essential for the price to change, you are essentially profiting only from the differences in price by different providers. This is one strategy i use when short trading. But this is very rare in the market and when you see one check first the wallet if is ok to transfer.

i have tried this, the headache is not worth the profit. the biggest and most obvious risk is the price going down because someone else did what you were planning to do or someone on that platform sold and caused the price to drop.
but the worst part is waiting for some of these altcoins to confirm. many of them have broken blockchains which means disabled wallets on many exchanges or in many cases a different chain because there was a fork you didn't know about. so many seem to have a fast transaction but it takes a long time to actually reach the number of confirmation the exchange requires and that is a lot of time wasted for a tiny profit.

[amacar2]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

Best strategies = Make your own, there is no any easy to follow straight guide available for crypto trading. Buy during dump/correction and sell when there is huge pump on the coin you are holding but don't wait to get more than 1.5x from those short term trades.

Yes all coins that are in top 20 list of coinmarketcap.com are good for both short term and long term holding.

[blester]

First of all, the anecdotal example you gave proves nothing. Profiting one time on a trade doesn't mean anything.

Second of all, trading is not binary like you are suggesting. It's not like your prediction is just right or wrong. you can profit on half your trades and lose on half of them, but if you only profit 5% when you're right and lose 10% when you're wrong, you're gonna lose a lot of money. Even if you are right 60% of the time, you'll lose money.

All that being said, none of this matters. You can trade crypto and profit, but if you profit less than holding then you have underperformed.

There are no "professional" crypto day traders out there who consistently beat the market. Even in other assets this is extremely rare, if it even exists. Show me a single person or example of somebody day trading and beating the market. I am certain you won't find anyone.

If you want to make real money consistently, learn to trade stocks over periods of time between roughly one and four months. That is what I do and I continually crush the market. Day trading crypto is gambling and the more you do it, the greater your chances of losing. Stock trading involves skill/knowledge and the more you do it and learn, the wealthier you will become.

You're right, anecdotal examples proves nothing, don't know why I gave one, but anyway.

For your information, there are professional day traders that operate in the stock market and make a living of it. Let's analyze your theory:

"Charts doesn't make behavior patterns that can reduce the odds of "

Ok, so the expected thing to realize is the only way of getting some profit is investing, not trading, or being lucky.

So according to your theory, if I enter in an operation, my odds of getting a profit is around 50%, only higher if I do my research and invest in a good coin that are cheaper than what's really worth (and expect to people notice that after I'm in).

The next thing to expect is that professional day traders of the stock market were either unemployed or pure scammers, because as we know, professional day traders don't necessarily look for the intrinsic value of what they're buying, mainly the price behavior in the charts.

So the profit of professional day traders should be exactly 0% in the long run, because 50% chance of profit and the 1:1 ratio would end up in nothing in the long run.


I don't have to bring proof or take all bitcoins of the market for myself to prove otherwise my points are invalid because it's not just simple as that, as I said before, with the correct technical analysis you only can reduce the odds of being wrong, not predict the future.


Annnnnndd you never drew a Fibonacci in your life to see that it works most of the time.

[blester]

What are the best strategies you use for identifying short/day trades? Do you have some favorite coins to do that?

Best strategies = Make your own, there is no any easy to follow straight guide available for crypto trading. Buy during dump/correction and sell when there is huge pump on the coin you are holding but don't wait to get more than 1.5x from those short term trades.

Yes all coins that are in top 20 list of coinmarketcap.com are good for both short term and long term holding.

I know, probably there is a different strategy for each individual because there is so many variables that makes almost impossible a "recipe for profit", but I'm working on my own strategy and would like to see different ones and test them as well.

The top 20 list you mean in market cap or % of volume change in 24 hours?