Day trading

[Steveo01]

Have made small profits in crypto here and there and was looking to maybe get into day trading. Want to know have as much knowledge as I can before I start trading my money. Since there doesn't seem to be a whole lot of reading material on day trading crypto (maybe I'm wrong) I was wondering if all the same principles and rules that apply in trading stocks/ forex etc apply to crypto. Have books here but don't want to read through them and find that it doesn't apply. Also if anyone could recommend some things to read would be great. Thanks

[1715387906]

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[TimtheYoutuber]

As this is your first post, do you understand cryptocurrency? Like do you understand blockchain technology, use cases etc?

[Steveo01]

Yea i'm not new to crypto. I've been investing for about a year and a half now. Not a lot but understand everything. I'm actually off work for a while so that's where the idea of day trading has come from. But I want to know as much as I can before I start trading.

[mk4]

Since there doesn't seem to be a whole lot of reading material on day trading crypto (maybe I'm wrong)

Head over to the trading sections on these sites; listed are some decent guides. Can't vouch for them if everything's good or not though, as I've personally haven't read all of them yet:

• https://cryptosec.info/resources/#resources_trading
• https://lopp.net/bitcoin.html

[gantez]

I think since you idea of forex trading, the techniques are the same in the sense that it is the same rule that guide the indicators but the market force and speculations are not the same.

[matthewoz101]

The same indicators apply to crypto trading. Like bollinger bands, rsi, etc.

Crypto trading can go up a much higher percentage and can be highly unpredictable. The biggest thing you must look out for is social media For instance, OCN announced a 1:1 airdrop and the price exploded instantly. When the rest of the announcement came with what the 1:1 airdrop would be too, the price dropped over 50% incredibly fast.

Follow all of the coins you plan on trading with on Twitter and set alerts. These alerts are required as a day trader.

[reronggo]

Maybe if you want to do day trading, it should not now. Because the market are unstable, and the tendency of losses are very big. You must be smart to read the condition in the market before to start day trading. The risk of day trading also quite risky, and now is not the right time do day trading.

[Moonmanmun]

As this is your first post, do you understand cryptocurrency? Like do you understand blockchain technology, use cases etc?

This is exactly what I was going to say.  If you are considering to day trade then you better soon familiarize yourself with some basic concepts.

[bocyaj]

If you are looking crypto currency for short term profit,day trading is best option.But now a days,day trading became worthless.It is possible to buy bitcoin at low price.But it's very hard to sell at high price due to often fluctuation.I had holding some bitcoin and waiting for the next peak.

[ibuddy122505]

I was thinking the same thing this past week. I've wanted to start using day trade for a while. Only way to make money in this market on day trading. Alts follow the BTC cycle but are a few months behind. I knew that the analysis showed a pattern of Bitcoin price support. If you want to play it safe, gather more experience. I have done that myself.

[omonuyak]

If you have trade forex and stocks before you can still apply the same technical and fundamentals analysis in predicting cryptocurrencies or bitcoin price movement!  In trading you need to develop your skills and knowledge on how to trade professionally even if you want to go into day trading.  You can used the same timeflame and candlesticks formation pattern you were using in forex or stocks trading for bitcoin trading.

[nsasuiteb]

If you have made small profits use it by hodling for the bigger profits, day trading is less profitable and you need lots of free time.

[gerald246kru]

Have made small profits in crypto here and there and was looking to maybe get into day trading. Want to know have as much knowledge as I can before I start trading my money. Since there doesn't seem to be a whole lot of reading material on day trading crypto (maybe I'm wrong) I was wondering if all the same principles and rules that apply in trading stocks/ forex etc apply to crypto. Have books here but don't want to read through them and find that it doesn't apply. Also if anyone could recommend some things to read would be great. Thanks

A market that is constantly changing and unpredictable as it is at the moment, day trading is the safest and least risky option you can see that bitcoin prices are constantly fluctuating and decreasing in the This has led to a decrease in altcoin prices. So when trading altcoin at this time you have to always follow the bitcoin price and always have transactional plans.

[strongwarrior238]

Have made small profits in crypto here and there and was looking to maybe get into day trading. Want to know have as much knowledge as I can before I start trading my money. Since there doesn't seem to be a whole lot of reading material on day trading crypto (maybe I'm wrong) I was wondering if all the same principles and rules that apply in trading stocks/ forex etc apply to crypto. Have books here but don't want to read through them and find that it doesn't apply. Also if anyone could recommend some things to read would be great. Thanks

You can see that the market is fluctuating continuously and it is hard to predict, bitcoin prices are constantly fluctuating and slightly reduced in recent days and therefore the price of altcoin is constantly decreasing. According to my analysis, bitcoin prices will probably drop to the $ 4000 mark next month, so you should only trade long-term, long-term investment risk will be very high.

[Bardman]

I always day trade when I identify a bull trend. Right now we are clearly in a bear trend for the past few weeks, I'm waiting for the next bull trend, it's fairly easy to daytrade in a bulltrend, RSI below 30 always bounces a lot, it's also very easy to play the waves.

[CRYPTON0101]

My recommendation would be to get into AI based Crypto currency trading focused on deep learning algorithm. The strategy and factors involved are cutting edge, resulting in a more accurate forecast.. above 70% accuracy.

[MiukoOk]

Trading in the day is also a trading strategy for investors who like to trade and get results right in the day, if you trade in the day you will not have to wait for anything the price of the next day.

[Gtrust233]

day trading is not a safe option its too risky. you have to find more about trading before start.

[congnghi100]

Day trading in Crypto is so risky. Hodling now is a good option (>6months).

[BellIcon]

This was a while ago, but I was watching a video about day trading in comparison to real life stock. And what I got from it is that some of the fundamentals are totally different. So you would have to be careful with what you read since crypto is so new.