How do I become a Crypto day trader?

[gotliv]

What tools are you using to manage your daily trading? Which strategies are working best?

[richcorner100]

Firstly you yave to learn about technical analysis because this is will be basic of day trading. Use time frame minimum 1 hours and learn price action of crypto by understanding chart pattern and candlestick pattern. You should understand about support and resistance level to decide entry buy and sell. Other important thing you have to set percentace of take profit and stop loss in every trade.

[no0dlepunk]

What tools are you using to manage your daily trading? Which strategies are working best?

Man, you better start trading at low cap; don't even think about trading huge immediately. One more thing, you must expect losses in your first few trades but also keep in mind that what doesn't kill you makes you stronger.

Anyway, I don't use tools; I trade in poloniex.

[janhllr]

You can follow these tips:
1. Learn about tech behind cryptocurrencies (mintable coins, non-mintable coins, Blockchain and other tech stuff ).
2. Learn about cryptocurrencies trends of past year and whats going on currenctly.
3. Select the best crypto coin or coins you are interested to invest in.
4. Research about their tech more and follow the trends for some period.
5. Learn the basics of crypto investments i.e. When to enter and when to exit.
6. Make a plan your investment Goals.
7. Keep following latest news and announcements.

[Ranly123]

What tools are you using to manage your daily trading? Which strategies are working best?

Don't use tools to trade for you. What you need is to start trading low or at low cap. Don't ever dare to start at high price because that would definitely be at your disadvantage. Remember to keep monitoring the market price daily. Buy low and sell high should be done if you want success in your trades.

[adamlillian]

What tools are you using to manage your daily trading? Which strategies are working best?

I am using Portfolio to manage my daily transactions. The application will show the profit or loss in 24h. It saved me a lot of time to look at the altcoins I have invested.
At a new person, I think you should choose daily deals to get familiar with the market's volatility. You have to spend 6 months to understand more about the Crypto market.

[PX-Z]

What tools are you using to manage your daily trading? Which strategies are working best?

In crypto trading you need to have an enough knowledge about cryptocurrency specially on its market value, before you can make some earnings from it. If i were you, you have to make a lot of research first about crypto specially in crypto trading. Because it takes so much risk that can cause you losing a lot of money if you don't actually understand what it is.

[Tytanowy Janusz]

Firstly you yave to learn about technical analysis because this is will be basic of day trading. Use time frame minimum 1 hours and learn price action of crypto by understanding chart pattern and candlestick pattern. You should understand about support and resistance level to decide entry buy and sell. Other important thing you have to set percentace of take profit and stop loss in every trade.

TA worked years ago. Not now with majority of volume made by bots and ai bots. Most of indicators was made years ago (19xx) for low variability stock market when you need to call your broker to made trade. And none of TA indicators was made to work on market on which arbitrage bots works from various exchanges and coins. Min 1h? why if altcoins has such variability that you can earn few % in 5-20 min on 5 min candle like i do.

TA especialy dont work on market this small bacause even few mil used wisely by whale can push price +-50%

Just think for a moment. If you are trading from IA indicators you are like trading bot but much slower, more stupid and susceptible for emotions and gambling. You become piggybank for those bots who will alwais be faster and better than you.

You can follow these tips:
1. Learn about tech behind cryptocurrencies (mintable coins, non-mintable coins, Blockchain and other tech stuff ).
2. Learn about cryptocurrencies trends of past year and whats going on currenctly.
3. Select the best crypto coin or coins you are interested to invest in.
4. Research about their tech more and follow the trends for some period.
5. Learn the basics of crypto investments i.e. When to enter and when to exit.
6. Make a plan your investment Goals.
7. Keep following latest news and announcements.

OP is asking for daytrading not investing.


To become daytrader you need to make as many trades as you can with minimum bet to make your learning as cheap as possible. Do as manny mistakes as you can and earn from every. Watch how price react for news, panic sell, panic buy and use that panic as your advantage.

Daytrader earns buying risk and selling hopes. Investor buy hopes and sell dreams or risk if price goes down

[rajapatr1]

The only thing that you need to do first , is to try to learn a little about how the entire market works, and how to avoid having much losses at the beggining, that is the most important thing that you need to do.

[reliable]

What tools are you using to manage your daily trading? Which strategies are working best?

For new joiners directly you should not be trading. You need to get experience and learn and understand for couple of months about different crypto currencies etc. Read this forum till that time to gain more knowledge. Also determine how much extra money you have and also it will not effect even if you lose it.

[cahgantenx]

What tools are you using to manage your daily trading? Which strategies are working best?

I have no specific strategy in the world of trading Bitcoin and Altcoin. It's just that I just apply the system short term and long term. Expect to gain profit with short and long term

[hugeblack]

What tools are you using to manage your daily trading? Which strategies are working best?

There is no unified strategy to control daily trading. The goal at the end is profit.
I am interested in reading the news because it is the key to move the price up or down."Regulation, Fork, ...etc"
Sites like this[https://bitscreener.com/  ,   https://cryptowat.ch/ ], give me a holistic vision to determine what I will do.
Listening to other analysis or technical analysis is not of great benefit.

[gotliv]

Isn't it a lot like gambling and most chances are to get burn and lose everything? isn't it better to pick coins and hodl?

[bakujo0817]

What tools are you using to manage your daily trading? Which strategies are working best?

you should better learn first and educate yourself about market and learn how to use indicators before trading and theres no best strategy of trading sometimes you need luck.

[iqlimasyadiqa]

What tools are you using to manage your daily trading? Which strategies are working best?

you should better learn first and educate yourself about market and learn how to use indicators before trading and theres no best strategy of trading sometimes you need luck.

when we want to become a trader then we must learn all things related to trading. analysis of coins and also how to make decisions is an indispensable thing. please ensure that experience will also affect the results we will receive. a trading also requires good emotional control because without it then it can not all run smoothly. I personally believe in luck, but the percentage I think is very small and about 15% that determines the outcome is a fortune. but believe me that when we have the skills and also the good experience then we will be one step towards success.

[speedy1987]

What tools are you using to manage your daily trading? Which strategies are working best?

First thing to be followed is that we have to go though the technical analysis of the cryptocurrencies. Then we should be updated on the latest news about the market. and we also should know about the past histories so that it might be useful before making a decision.

[raider150shifter]

Technical Analysis is great to use when you are day trading, watch some videos in youtube about Technical Analysis and you can get resources in investopedia.com

[Jesabela04]

What tools are you using to manage your daily trading? Which strategies are working best?

I believe that there are lots of resources for us to gain more knowledge about day trading. It is just for us to make way. The internet has a lot of information about trading and if we are just willing and eager to learn, we would be able to do day trading successfully.

[renes]

I don't do day trading but if I do I would use a good trading bot for day trading because you need to be either a whale or be very experienced, I don't think technical analyses work good for daily trading.

[BTCeminjas]

What tools are you using to manage your daily trading? Which strategies are working best?

I don't want to give you a tool or whatever regarding day trading, because I personally hate that work.
Learn by your own self by searching and others day traders are so a risk work I don't even want that so stressful monitoring the price movement in the market cap. If I were you just learn first the low cap trading before to do that if you really want.