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Author Topic: day trading  (Read 1287 times)
xSkyCamii
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June 21, 2018, 09:15:50 AM
 #1

hi guys, i'm new in the world of crypto.. i'm studying hard technical analysis every day for several months , but i would like to start with trading, i learned the technical base, but i need to trade cause i'm unable to use what i learned. i want split my money in long term and day trading. do you have some link that explain the most used strategies for day trading in crypto market? thanks
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jseverson
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June 21, 2018, 09:29:48 AM
 #2

It's not too different from how you would day trade stocks, except most analyses don't really amount to much and everything moves 24/7 (so maybe it is a lot different lmao). Crypto prices run on hype for the most part and are highly speculative. I would suggest putting in a small amount to try it first because it's definitely not for everyone.

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June 21, 2018, 09:54:18 AM
 #3

I suggest you follow the influence of external factors more than technical analysis, for example, regulation effects, hacking trading platforms, the acceptance of Bitcoin "country or big market" and other news.
Regarding long-term investment, it is better to do in-depth research before making a decision but recommend BTC, ETH, and Monero.
Short-term investment, use this site -----> https://bitscreener.com/. [Gainers]

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June 21, 2018, 11:10:12 AM
 #4

If you really want to get into daytrading crypto, I'd also recommend starting small and trying to get a feel for it.

I don't think there's a one-size-fits-all strategy that holds eternally true (because otherwise everyone would be using it) so you're likely better off finding your own way, based on the theoretical knowledge that you've gathered the last few months and the practical experience that you'll have to gather in the market.

I personally don't daytrade, but from what I've gathered daytrading crypto is rather different from daytrading stocks or even forex, even though the basic principles still apply. I'm not quite sure where these idiosyncrasies of the crypto market are coming from, but I assume they mostly stem from the market being much more volatile, volume of some of the smaller alts being rather low, the occasional pump-and-dump trap and that hype is king (even moreso than with the traditional markets).

Either way, be careful out there. Daytrading is a great way to lose money and there are some pretty shitty alts out there that I wouldn't dare holding for long.

xSkyCamii
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June 21, 2018, 05:27:57 PM
 #5

where can i found some guide to day trading crypto?
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June 21, 2018, 06:02:05 PM
 #6

where can i found some guide to day trading crypto?

https://chainoperator.com/making-a-living-day-trading-cryptocurrency/
https://chainoperator.com/cryptocurrency-trading-guide/
https://www.bitdegree.org/tutorials/day-trading-cryptocurrency/
https://medium.com/coinmonks/a-beginners-guide-to-day-trading-ethereum-3a98437a3cd1

Here are just a few to get you started Smiley
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June 21, 2018, 06:25:36 PM
 #7

There are trading simulators you can use to practice implementing different strategies. They have the same features available that you would find on a 'real' trading account such as stop/limit orders, etc. You could use this service while you study the guides provided for you above.

Here's a link to a popular one: https://cryptospaniards.com/simulator/

Hope this helps

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June 21, 2018, 06:36:47 PM
 #8

There are trading simulators you can use to practice implementing different strategies. They have the same features available that you would find on a 'real' trading account such as stop/limit orders, etc. You could use this service while you study the guides provided for you above.

Here's a link to a popular one: https://cryptospaniards.com/simulator/

Hope this helps

This one also: https://bitcoinhero.me/
Good luck! You can also start with airdrops, accumulate and trade with those (less risky, but less profit too)

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June 21, 2018, 07:30:42 PM
 #9

If you have not a big experience as trader avoid it, buy and hold with daily trades you will lose money.
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June 21, 2018, 07:43:09 PM
 #10

I've got a useful word for what i call day trading....GAMBLING. Don't get me wrong i'm sure there are plenty of people who manage to do very well from it. I've had some success but just when you think you've had a great time and done well- Bitcoin price tanks and all your hard work is undone (unless you have strict stop losses).

If i were to give any advice it would be watch the price of Bitcoin when trading alts.

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June 21, 2018, 08:02:51 PM
 #11

90% chance you will lose.
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June 21, 2018, 08:55:39 PM
 #12

The basic trading skills for the day trading is to buy low and sell high within the daily price range. Focus on coins that have high volume like bitcoin or ether

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June 21, 2018, 09:13:56 PM
 #13

For me, day-trading works out only when I try to trade the coins I trust. Like at Binance, I've a list of coins that I've marked as favorite and I know that even at the end of day if I'm left bag-holding them, I'm not going to be depressed because I've faith on them. And remember, if you're day-trading, don't get greedy and take the profits of even a few dollars when possible.

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darkangel11
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June 21, 2018, 09:29:35 PM
 #14

90% chance you will lose.

That's the sad truth. Most traders lose money on the market and it's like that on every single one (not only on crypto markets).
Even if you don't lose when you look at your balance, you're losing your potential gains. The ones that you might have if you chose to hold or close your position a bit later.
Many people tend to think that day trading works well when they're trading in a bull market. It's a common misconception, because you can be a bad trader and still make money when everyone gets hyped. It's the bear market that tests you.

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sue1710
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June 22, 2018, 03:57:16 AM
 #15

I think this year is the best time for short and margin. Even it is very risky.
For trading, beside technical analysis, you have to learn about crowd psychology. Keep your head cool and do not be afraid to go against the crowd.

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June 22, 2018, 04:13:48 AM
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It takes a certain kind of person to be a day trader.. you need to be level headed, and calm in the eye of the storm. The coins daily oscilation tends to be highly nerve wrecking for most.
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June 22, 2018, 05:12:49 AM
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Not an easy task definitely. Babypips is fine to start with, and you could get some trial accounts to try first and learn without loosing anything. After you start using real cash, be ready to accept losses because you'll have them. And then prepare a decent amount to do the real job Smiley
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June 22, 2018, 10:45:15 PM
 #18

It is good you have spent considerable time on technical analysis.You also need to focus on fundamental  analysis which deals with news and latest info in the market. Fundamental analysis  seem to have bigger influence  on prices for now.
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June 22, 2018, 11:14:43 PM
 #19

First focus on the learning and getting the experience. While you are doing this, invest in a long term crypto coins that will be available for you to put your trading lessons into practice. 'without that you will lose your money if you attempt to trade without a strategy.
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June 23, 2018, 03:19:04 AM
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It would be good idea to follow crypto trading channels in forums, discord, telegram or other sources. Also be updated on new announcement s of the coins you are trading.
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