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

[jonatuzc]

Never trying to earn more than 10% is the first rule i think we have to keep in mind. Greedy will push us into the loss in every scenarios.

There are a lot many factors that are needed to be kept in mind while we are trading on daily basis. Most important among all of them according to my belief is that one should keep himself up to date about the daily prices of cryptocurrencies in market. This is because being an aware of the price can cause you loss at your end.

The other thing is that a person should set up some limit for each day while trading because we all know that anything in excess does harm you. Being greedy about earning more and more money would not take you anywhere except a huge loss at the end of the day.

[theborngeek]

Following

[Allan Ramanda]

understand and have knowledge with what coins I will trade, by looking at their threads, then see the market situation whether the coin is worth to be traded. and this is the main thing, buy cheaply, then sell with high price.

[weredo911]

My first rule is "do not panic sell". You have to keep your mind. Believing what you have learned and your research. Don't buy and sell follow the trend.

[Protomono]

Daily trading and longterm trading have fundamental difference, ie a shorter timeframe. So, my rule in daily trading is when i get little jump or +2%.

[dsaijz03]

The first rule, is to trade only the coins that you are willing to loose. In the crypto-world we do not know when the price rollback since they are so volatile maybe now or tomorrow. So we need to be wise on dealing with that.

[ausbit]

When I join in cryptocurrency, my first rule is "not greedy". If you can control yourself, you will not be panic when the price down and will not be greedy when the price goes up.

One can regard this as first rule of trading. If a person learns to control his greed then I think that there is a minimum chance of any loss. Most of the people actually get greedy when the prices are high and think about selling their coins for getting maximum profit and investing it in some other business earning more and more and returning to the buying of digital currencies when the prices face a dumping phase.

[Shishir99]

Let's see what you think Guys.

First rule of day trading is to control greediness.
Then you have to control your emotions if you have losses in your trading.
These things are the physiological aspects.
Other than that everyone should enrich their technical analysis to become a good day trader.

[richkellj]

When I join in cryptocurrency, my first rule is "not greedy". If you can control yourself, you will not be panic when the price down and will not be greedy when the price goes up.

The first rule of daily trading in my opinion is to be very calm, patient and wise.  With the fluctuations in the market it is important for the investor to control his emotions and focus on work. One should observe the prices of digital currencies because this observation will make you prepare for any type of circumstances. One should not be greedy as greed is worse.

[jankekek]

the first one is that you do not have to be afraid to lose because we do not know the trend of trading without spending money on trading because we do not know tomorrow morning that your money is down.

[henmark]

Following

This is really a monumental answer for this question. Such a simple one line answer have all answers hidden in it. Following is definite the best strategy or you can say an action that you have to adopt strictly for better results at the end of the day in day trading. It is little tiresome and bore but there are many people who are earning 0.01 BTC daily just by day trading.

[crazyjack]

Let's see what you think Guys.

Following the strategies and goals you set a day/week/month ago, only that way you will be prepared what to do when you are faced with bull or bear market.

If haven't done so, you are going to deal with emotions and that is not a way to go.

You might get lucky sometimes, but on the long run, you will fail to bring and positive results to the table. And eventually market will digest you.

[metenjean]

Never trying to earn more than 10% is the first rule i think we have to keep in mind. Greedy will push us into the loss in every scenarios.

10% depends in your quantity of trading position and i've met many that get a lots of that, lots of traders accumulate their profits weekly , monthly or even yearly basis so i think 10% didnt make any differences, if you are riding the trend then why did you jumping off, i think its good to have a better executed planned before entering any trading position rather than trading based on percentage of profits and loss

[Eternu]

First and most important rule in Bitcoin trading (and any other as well) is to make profit from every trade. If you do not make a good trade and earn even a little bit, you are certain to fail. We are bound to make few bad trades along the way, but we must strive to earn more by trading not other way around. So for me that is first and most important thing to have in mind, whenever I think about any trade.

[tambok]

Never trying to earn more than 10% is the first rule i think we have to keep in mind. Greedy will push us into the loss in every scenarios.

10% depends in your quantity of trading position and i've met many that get a lots of that, lots of traders accumulate their profits weekly , monthly or even yearly basis so i think 10% didnt make any differences, if you are riding the trend then why did you jumping off, i think its good to have a better executed planned before entering any trading position rather than trading based on percentage of profits and loss

We should always evaluate ourselves in trading, how much are we willing to lose money? there is no guarantee that we will earn more during the first we entered trading if you gain during your first time then you are lucky, yes we will lose money/btc but it is not what we have lost it is the lesson that we have learned and apply it on our next trade.

[hisuka]

the first one is that you do not have to be afraid to lose because we do not know the trend of trading without spending money on trading because we do not know tomorrow morning that your money is down.

Usually most do is buying low and sell high, but ofcourse you have to learn and earn knowledge in trading. Because this will help you throughout the course in trading. Also, it is best that you know and face the fear of loses and just invest on what you can afford to lose. Because the market is downtrend and uptrend that we should be aware of it.

[gabmen]

the first one is that you do not have to be afraid to lose because we do not know the trend of trading without spending money on trading because we do not know tomorrow morning that your money is down.

The first rule is buying low and sell high, also when you are into trading the basic steps is you are willing to lose. The market is downtrend and uptrend. All of us must be aware of this moves for us not to lose in trading.

First rule? Study before you engage. Its very important to know about the coin we're going to invest in especially if its short term. Read forums, follow social.media pages, watch videos. These things will give you information that would really be helpful especially for day trades

[Opnsrc]

See what I do. I am using 3-4 types of altcoins for short term trading. Furthermore I have an eye on BTC and ETH during at least half a year and only then sell or buy.  All investment distributed in proportion 50/50 between altcoins and ETH/BTC.

[ckorbba]

See what I do. I am using 3-4 types of altcoins for short term trading. Furthermore I have an eye on BTC and ETH during at least half a year and only then sell or buy.  All investment distributed in proportion 50/50 between altcoins and ETH/BTC.

and what is the best percentage share for the airwaves? How many can these coins be needed for payment by the Miner? It seems to me that it's more. You need to give preference to Bitcoin. And then for altcoin, which you can trade.

[maxamus]

See what I do. I am using 3-4 types of altcoins for short term trading. Furthermore I have an eye on BTC and ETH during at least half a year and only then sell or buy.  All investment distributed in proportion 50/50 between altcoins and ETH/BTC.

That's great job there is a lot of buzz for ETH which started before couple of months when the value shoot up even i am planning to invest into ETH with little further research and forecast but i would prefer 70:30 ratio or or else invest into BTC, ETH and Litecoin with 40:30:30 ratio to understand better about the percentage of profits with the duration.