What is the first rule of daily trading in your opinion?

[DragonSlayer]

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.

[realdhanny]

Never take your eyes off the market for day trading!

[keanne_isaac]

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

[Prettyme]

Let's see what you think Guys.

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.

[lisikewell]

Buy low high ，Look at the whole day

[MiF]

Let's see what you think Guys.

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.

[Heyyyrenz]

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.

[ss890]

Let's see what you think Guys.

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.

[akija]

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 .

[real eyes realize]

Let's see what you think Guys.

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.

[PointHope]

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.

[Naughty Princess]

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

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.

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.

[soham]

Let's see what you think Guys.

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.

[Bagaji]

Let's see what you think Guys.

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.

[DevilSlayer]

Let's see what you think Guys.

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.

[malikusama]

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.

[imstillthebest]

Let's see what you think Guys.

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.

[gabmen]

Let's see what you think Guys.

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.

[hugeblack]

Let's see what you think Guys.

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.

[raking]

"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.