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

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[1715277078]

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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.

[shulio]

Day trading is very risky. I generally do not recommend people to do daily trading even the earnings will be much.

[taiwww]

Being crypto trader and forex trader in not very much different one! They are basically same one and just differ in one thing, one is very volatile (crypto) and other is just predictive one with more stability in value (forex). As the later one has commodities which are based on different real world news for their values and are completely known facts, makes it far easier to understand. However in crypto you just cant have that much lead as to whether crypto currency will go up or go down! So its just tricky in prediction and you can always follow simple buy low sell high techniques here too. Day trading cant be more beneficial as volatility can be disturbing factor here.

[dumple]

I am more than convinced in that there is no way to make money while trading if you do not know a previous knowledge, specially if you are talking about DayTrading. It is more difficult

[lablab03]

Day trading is very risky. I generally do not recommend people to do daily trading even the earnings will be much.

yes that's true  .especially on this situation because the movement of all coins is so unpredictable which that can cause people to panic , greedy and  etc.  So not recommended , and i think much better to buy for long term not " day trading"  because it's not safe to do on this circumstances unless if you're a pro. Lol  And indeed it's good to buy now for long run because all coins is cheap so grab now if you want to earn some profits in the future.
  

[Moiyah]

If I may suggest, have learn about margin trading and scalping. This two is a day trading but needed enough knowledge before entering. You can also read about indicators and charts that can be useful in monitoring the prices for entering long orders and/or short orders. After that, go and study bitmex. You can gain profits by margin trading but consider it a big risk especially when you are new to it.

[Arceusz]

In day trading you can earn a good amount of income or profit in daily basis but you should have patience how to deal with this kind of business in this industry because it put hardship daily.

[Dimon8]

Day trading is only for experienced traders. Also day trading takes a very long time, this type of trade will not work together with other work.

[Ararbermas]

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

yes of course because knowledge is the most important. especially day trading which is so risky to manage nowadays because market always volatile.. So before jumping on it make sure you have enough knowledge to assure you can gain profits on it instead lossing money.

[newinbtc]

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 cannot compare Day time Trading of bitcoins with forex Trading Both are different. Bitcoin price Never stable in a single day you can earn upto 30% profit/Loss

You need to learn basic concepts of Pumping and dumping before Trading. You can find Topics related to this on Google.

after A long Reading Still You need to understand that It is not benefit if price droped and gone up after 1 month even a year. than your funds will be blocked for this time period.
Please Do not sell your Bitcoin if price is decreasing Like hell. As it will up again otherwise you will loss your all earned money in one go.

[enawati]

Price action between crypto, forex and stock is different and crypto has more volatility. But we can use the same strategy and technical analysis in these all kind of trading. I think if we know and understanding about management of risk and money, wherever you trade will be possible to get profit by consistent. I see now many trader in crypto dont use stop loss and trailling stop in trading, so i think this is big mistake.

[Palmond]

I think if you trade now, for us you will also get better profit, because bitcoin prices are now growing better, so for us also easy way to make profit with  trading in altcoin.

[lance04]

Day trading business is a good kind of business in this industry it is helpful to the traders to earn a good amount of income or profit in daily basis and also sustains their own needs in terms of financial aspect.

[lordmick]

I am absolutely sure that bitcoin will rise minimum more than ten times. So we should just hold it during 3-4 year. Patience is always rewarded. Long-term investments are always more profitable. Now we have all opportunities to be millionaire in the future.
That's why I think that day trading will be effective (also in red days) if trader has big experience and knows technical analysis and fundamental analysis and moreover know how to use them together. Otherwise just hold.

[coinscircle]

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

I believe that at this point you should only trade and should not invest long term, you can see that bitcoin prices in the past few days are increasing but the price of altcoin is constantly decreasing during the past days. So at this point we should only invest in bitcoin and short term trading to minimize risk.

[BTCeminjas]

Day trading available to financial companies  because only they had access to the exchanges and market data. Day trading is the activity of buying and selling financial instruments with the intent of profiting from price movements in the underlying security within a single trading day. Day traders can fall into traps when they don’t realize that margin is completely at the discretion of the broker.

[drachman]

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

Technical analysis can be applied to any market that has enough volume so you can read any book about day trading stocks or the forex market and you will be fine, just do not make the mistake of trying to apply those concepts to icos or to altcoins with a very low volume since it is known that technical analysis does not work under those conditions.

[richminded]

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

yes of course because knowledge is the most important. especially day trading which is so risky to manage nowadays because market always volatile.. So before jumping on it make sure you have enough knowledge to assure you can gain profits on it instead lossing money.

Newbies should not focus on making an easy money because its too risky when you are greedy about it. Learning must come first, because if you are not knowledgeable enough about trading you will cry later on. Day trading is good for a professional one, I suggest a short term trading for newbies.

[MMA]

Day trading business is a good kind of business in this industry it is helpful to the traders to earn a good amount of income or profit in daily basis and also sustains their own needs in terms of financial aspect.

Yes day trading is good no doubt but i think that it is very difficult to make money from day trading, there you have more chances to lose your money in short time. therefore i think that long term investment is a good choice for making money specially for inexperienced people who do not have any experience.

[Rahar02]

Day trading business is a good kind of business in this industry it is helpful to the traders to earn a good amount of income or profit in daily basis and also sustains their own needs in terms of financial aspect.

Yes day trading is good no doubt but i think that it is very difficult to make money from day trading, there you have more chances to lose your money in short time. therefore i think that long term investment is a good choice for making money specially for inexperienced people who do not have any experience.

Trade on a daily basis to earn sustain profit isn't so easy at all, especially for bitcoin due to price fluctuation isn't significant to rise and fall in 24 hours, and you need a big capital to make a decent profit. Maybe some people can make it by trade altcoins which the price are cheaper and you can buy more coins and play "vires in numeris - Strength in Numbers", even for a slight increase, you can get good profit. However, it seems more likely a gamble for me than trading.

[CHENIEN]

There are many people who works and access cryptocurrency business by making day by day trading, and I do believe that it is more profitable and highly returns of income, and it is very similar to investment or to the group of people like investors, because day by day trading are likely called buy and sale business by purchasing cryptocurrency tokens or cryptocurrency coins in a lower price and selling when price growing up higher.