My experience day trading - no moon shots

[DanTalksCrypto]

I think your strategies are very good. Because you do not get much profit, you only gain 1% per day and many people want to earn 10% daily or 20%, and for this, they face many losses and you use a very safe method. I like and respect your strategy.

Appreciate your comments. Would be great to chat with you on discord. Hit me up there. Hope your Friday is going great.

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[policeoo]

I think daily trading is good. But many people expect too much. They are looking for instant profit. They want to earn 10-20 percent daily. But these facts and wishes are not real. If you are not looking for losing much money, your strategies are fine and safe. Less profit, but safer. Your strategies are good.

[DanTalksCrypto]

I think daily trading is good. But many people expect too much. They are looking for instant profit. They want to earn 10-20 percent daily. But these facts and wishes are not real. If you are not looking for losing much money, your strategies are fine and safe. Less profit, but safer. Your strategies are good.

Thank you my friend. I’m in the game for long-term, gradual, returns. This works for me. Hope to see you in the Discord.

[DanTalksCrypto]

For those who might want to see what this is about - come and have a look today, it’s Firepit Friday!

All members get free access to the paid tier for 8 hours with multiple charts over multiple coins. Plus the community will be alive with live trading examples and calls. Come and say hello!!

https://discord.gg/BN9P2tk

[Thirdspace]

I would put an order in for the easy buy range and sell when it hits yellow. Keep stop losses tight (1%) to avoid getting burned.

I now aim for 1% in a day and once I achieve that I'm done - come back tomorrow and do it all again. Compounded it adds up quickly, hopefully this time next year I'll have made a good decision.

Stop losses are very important. I learned this the hard way in the beginning!

it really does add up in the long run, but maintaining 1% daily profit is not as easy as said
and having stop losses is great but I think 1% is too tight in crypto trading
so your trade range is somewhat very narrow with 2% between stop loss and sell on profit
won't you be getting losses more often than making profit, and ended up in loss position

[p3ppymon]

The calculations made do not make sense as OP will definitely not treads with his/her full bankroll each trade. It would be cool to do so.
The, as per calculations, and considering only trading max 5% of the roll, profits are much lower than reported.
Good luck anyway.

[hoavantathan]

The market is up and down everytime. Can you predict the market? I don't think so. Can you show me how you do that? I see many daily traders die. So i do not join daily trading campain.

[udidrone]

I think your strategies are very good. Because you do not get much profit, you only gain 1% per day and many people want to earn 10% daily or 20%, and for this, they face many losses and you use a very safe method. I like and respect your strategy.

Appreciate your comments. Would be great to chat with you on discord. Hit me up there. Hope your Friday is going great.

Control greedy in ourself is good. That is what many people must learn before they do trading. If you can consistent about 1% perday and keep play safe, you will be very rich in future i believe.

[nydiacaskey01]

I would put an order in for the easy buy range and sell when it hits yellow. Keep stop losses tight (1%) to avoid getting burned.

I now aim for 1% in a day and once I achieve that I'm done - come back tomorrow and do it all again. Compounded it adds up quickly, hopefully this time next year I'll have made a good decision.

Just like what I've always said, 1% target and profits per day is better than aiming for 50% a day, you might end up in a trap holding a coin that was dumped by whales. Aside from aiming for just 1% a day, also spread your capital. Don't just put all that funds in just 1 coin, 3 or more is better so if 1 fails to hit at least 1%, you still have other coins to rely on and recover your losses.

[Supercrypt]

Now thats the best strategy behind it. I think going for the big % profits is always worst because that is nothing but the greediness. If you have now overcome with that strategy then it is always best as you wont be loosing money over your greed. This should be lesson to everyone who is willing to do the day trade. Its risky and also sometimes it is not even possible to single % of profit in day trade. So expecting too much high returns is not the best way to go around it. I like that you gonna take up around 1% profits daily because that is also 30% ++ profit over month and sufficient enough. 

It is not really about the greed; it is about having a plan and letting your plan work out. Sure, we cannot deny the fact that some people can be extremely greedy as all they care about is trying to look at the moon when there is no likelihood of it, however, the only way you can know if you should be out of the market with profit you have made is if you are sure that goes according to your plan.

For instance, if I believe a market still have potentials to raise more than it already is why I would want to sell quickly. Don't get me wrong, there are certain stages during FOMO that is advisable to sell, but all has to be with your own strategy and if 1% is someone else's strategy per trade, since he is a day trader anyway, then that does not mean someone else may not have a better strategy to drive in more potential for profit.

[DanTalksCrypto]

The calculations made do not make sense as OP will definitely not treads with his/her full bankroll each trade. It would be cool to do so.
The, as per calculations, and considering only trading max 5% of the roll, profits are much lower than reported.
Good luck anyway.

The whole bankroll goes in each trade. (Just of my trading funds - I have a separate HODL stack).

How would you recommend I improve?

[DanTalksCrypto]

The market is up and down everytime. Can you predict the market? I don't think so. Can you show me how you do that? I see many daily traders die. So i do not join daily trading campain.

You don't need to predict the market - just gain an understanding of where it will ebb and flow in a short period of time. Seriously - take a look at the charts here and you'll understand: https://discord.gg/BN9P2tk

It's just probabilities - as long as you're working with something that tells you when something is more likely than not. It'll make you money in the long-term.

[DanTalksCrypto]

I would put an order in for the easy buy range and sell when it hits yellow. Keep stop losses tight (1%) to avoid getting burned.

I now aim for 1% in a day and once I achieve that I'm done - come back tomorrow and do it all again. Compounded it adds up quickly, hopefully this time next year I'll have made a good decision.

Just like what I've always said, 1% target and profits per day is better than aiming for 50% a day, you might end up in a trap holding a coin that was dumped by whales. Aside from aiming for just 1% a day, also spread your capital. Don't just put all that funds in just 1 coin, 3 or more is better so if 1 fails to hit at least 1%, you still have other coins to rely on and recover your losses.

That's a good tip - thank you

[DanTalksCrypto]

I think your strategies are very good. Because you do not get much profit, you only gain 1% per day and many people want to earn 10% daily or 20%, and for this, they face many losses and you use a very safe method. I like and respect your strategy.

Appreciate your comments. Would be great to chat with you on discord. Hit me up there. Hope your Friday is going great.

Control greedy in ourself is good. That is what many people must learn before they do trading. If you can consistent about 1% perday and keep play safe, you will be very rich in future i believe.

I do this for fun right now and it is working so far. I do like to play safe - very much so. Appreciate your comments here.

[DanTalksCrypto]

Now thats the best strategy behind it. I think going for the big % profits is always worst because that is nothing but the greediness. If you have now overcome with that strategy then it is always best as you wont be loosing money over your greed. This should be lesson to everyone who is willing to do the day trade. Its risky and also sometimes it is not even possible to single % of profit in day trade. So expecting too much high returns is not the best way to go around it. I like that you gonna take up around 1% profits daily because that is also 30% ++ profit over month and sufficient enough. 

It is not really about the greed; it is about having a plan and letting your plan work out. Sure, we cannot deny the fact that some people can be extremely greedy as all they care about is trying to look at the moon when there is no likelihood of it, however, the only way you can know if you should be out of the market with profit you have made is if you are sure that goes according to your plan.

For instance, if I believe a market still have potentials to raise more than it already is why I would want to sell quickly. Don't get me wrong, there are certain stages during FOMO that is advisable to sell, but all has to be with your own strategy and if 1% is someone else's strategy per trade, since he is a day trader anyway, then that does not mean someone else may not have a better strategy to drive in more potential for profit.

This is what took me the time to learn - stick to your plan. Do not deviate. I have won way more times than lost sticking to the plan. Deviation causes me to lose more often than not. A deviation is a gamble. Do not deviate.

Thanks for your comments.

[tambok]

This is what took me the time to learn - stick to your plan. Do not deviate. I have won way more times than lost sticking to the plan. Deviation causes me to lose more often than not. A deviation is a gamble. Do not deviate.

Thanks for your comments.

That is right, it is so important too to lists all of our mistakes and learn from it, sometimes we should create our own strategy too, I have experience in trading but not too much that you can call me an expert, trading is an everyday learning and patience should always in our mind and heart, make it a passion and not just because you want too or just a past time.

[DanTalksCrypto]

This is what took me the time to learn - stick to your plan. Do not deviate. I have won way more times than lost sticking to the plan. Deviation causes me to lose more often than not. A deviation is a gamble. Do not deviate.

Thanks for your comments.

That is right, it is so important too to lists all of our mistakes and learn from it, sometimes we should create our own strategy too, I have experience in trading but not too much that you can call me an expert, trading is an everyday learning and patience should always in our mind and heart, make it a passion and not just because you want too or just a past time.

Amen!

[tanzaholzmann]

trading daily with a 1% profit per day can be said to be easy or difficult, is your strategy getting 1% per day in 1 coin or you are planting a lot of coins to get 1% per day.

[entrepmind23]

This is what took me the time to learn - stick to your plan. Do not deviate. I have won way more times than lost sticking to the plan. Deviation causes me to lose more often than not. A deviation is a gamble. Do not deviate.

Thanks for your comments.

When it comes to trading, you should always stick to your plan and be consistent with it so that you will know if it is effective or not. It will also make you control your emotion since you know what to do in whatever circumstance it may be. As for OP's strategy of aiming for 1% a day, it is not that hard given the volatility of prices. The issue here is whether you can maintain to have this profits because you may gain 1% but on that day, you can also lose a lot. Well, as long ass you have a cut loss strategy as well then it would be good.

Experience is also a must when you decide to do day trading because it is not for those who are faint-hearted who would immediately back down when they see a big red candle. It requires courage knowing that anytime the trade may not go in your favor.

[aervin11]

You have a point but trading everyday and gaining 1% is always defeated by hodlers that do the research and sit wait for moon. This thread is worth the follow to see how your trades could go, maybe you got to add some funds for low cap coins so you could hodl and let the money work for you, anyways it's just my opinion.