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

[Aleister Crowley]

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

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..

[enterprevic]

Let's see what you think Guys.

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

[mk4]

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

Aaay. I personally follow this rule aswell as I suck bigtime at day trading.  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.

[richcorner100]

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.

[Rana590]

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.

[Nerman]

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.

[raliyat]

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.

[Savemore]

Let's see what you think Guys.

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.

[maydna]

Let's see what you think Guys.

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.

[Dodoymabs]

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.

[Marrionbitcoin]

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.

[Honglee]

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

[madwica]

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:

[ArnoldChippy]

Let's see what you think Guys.

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.

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.

[Ayiranorea]

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.

[Drnice]

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.

[coinjack1337]

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.

[omonuyak]

Let's see what you think Guys.

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.

[palle11]

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 .

[WSDN]

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.