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

[sa3loo]

Let's see what you think Guys.

[1714990315]

1714990315

[1714990315]

1714990315

[bell70]

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.

[DaMut]

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

[Sowik]

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

[sic57005]

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

[coolstory]

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 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.

[erikalui]

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.

[mobnepal]

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.

[buyinbtc]

Let's see what you think Guys.

Well it's not rule, more like tip... Wake up before you do anything 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.

[amaral1977]

Let's see what you think Guys.

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.

[xaxistech]

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.

[susila_bai]

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.

[omonuyak]

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.

[hammo]

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

[equator]

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.

[sa3loo]

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

[MANCRYPTOS]

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.

[Indrawan77]

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

[cryptoalfs76]

Let's see what you think Guys.

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.

[layoutph]

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.

Let's see what you think Guys.