Day trading, the very beginning

[JustNerd]

Hi guys,

 I'm considering to start day trading. Before now i'm in the crypto world from more than a year. I'm minner and i made some good profit from icos, but the current condition of the market is terrible for icos. If they don't don't adjust i can't see any profit in them for now. So i want to try day trading in crypto, while the volatility is still prespective for not so hard profit.

October im planning to spend the month for learning about day trading in crypto.
I would be glad to hear from you any suggestions for books, courses (prefer even more expensive from traders which are with good experience and results in this market) and everything which could be useful for the very beginning.

Thank you!

[butka]

Here is my contribution to your learning process:

‘Toshimoku’s Trading Tips & Tricks

Pretty much everything you will need to know (in just one long post) to get you started.

[allahabadi]

No books can prepare you; just don't go on bitmex; you will be rekt.

[Harlot]

Judging by how you mix up mining and earning from ICOs it looks like you need more than a month to learn how to become a trader. Aside from reading books (which I hope you will really do) you can test out what you have learned with a mock portfolio and try to do test buys and sell with it using an app like blockfolio. With this you will really know if you really are learning something from what you are reading. Of course doing fake trades are different compared to the real ones as this time you really risk your money.

[Marcel666]

Trading is a complicated aspect of cryptocurrency. And it takes a lot of learning to be a successful trader. Day trading is technically trading, and you would have to practise on all aspects.
There are helpful sites and platforms, some offer demo trading, before going live.
- Always start small
- Protect your capital
- Master your skill, and stick to it
- Have long-term goals

[Itjoker]

Actually day trading requires a big concentration and to learn new information every day. Also I prefer to improve my skills on technical analysis. For example I like to read books of William Gann, Bradley Cowen and look through movies on youtube about using technical indicators.

[Dart18]

Hi guys,

 I'm considering to start day trading. Before now i'm in the crypto world from more than a year. I'm minner and i made some good profit from icos, but the current condition of the market is terrible for icos. If they don't don't adjust i can't see any profit in them for now. So i want to try day trading in crypto, while the volatility is still prespective for not so hard profit.

October im planning to spend the month for learning about day trading in crypto.
I would be glad to hear from you any suggestions for books, courses (prefer even more expensive from traders which are with good experience and results in this market) and everything which could be useful for the very beginning.

Thank you!

It may be true.
I asked one of the old timers here and he became one of the risk taker with ICOs too.
He cannot decide now what ICO would be best suit for a long term investment. The events of scams really hurt him.

You may be going at a better way with trading but it is almost at the same risk although not that much since we cannot see much movement right now.
I prefer ETH for now since it is the most volatile than dust tokens all over the market. With 30 -40 usd range of changes you could make profit.

[bozo333]

Hi guys,

 I'm considering to start day trading. Before now i'm in the crypto world from more than a year. I'm minner and i made some good profit from icos, but the current condition of the market is terrible for icos. If they don't don't adjust i can't see any profit in them for now. So i want to try day trading in crypto, while the volatility is still prespective for not so hard profit.

October im planning to spend the month for learning about day trading in crypto.
I would be glad to hear from you any suggestions for books, courses (prefer even more expensive from traders which are with good experience and results in this market) and everything which could be useful for the very beginning.

Thank you!

Day trading is a wonderful platform in next month. So you should try small gem in this situation. Because we will never gain good knowledge in books and courses of trading. If you really looking for day trading I suggest plan your goal and concentrate your aim.

[spadormie]

This is not a very good idea. It cannot make you many money if you day trade. It might costs you a lot if you don't have the idea in trading. So, becareful on what you trade for.

[JustNerd]

Thank you for the reply everyone.

Im not goin to start day trading now, i just want to learn about it before that, some knowledge about that how works the market and maybe after that i will try

I have been profesional poker player since 5 years ago so the mental part is not a problem, but im tired from the poker so i want to try something new, while im hodling in this market.

[socks435]

Thank you for the reply everyone.

Im not goin to start day trading now, i just want to learn about it before that, some knowledge about that how works the market and maybe after that i will try

I have been profesional poker player since 5 years ago so the mental part is not a problem, but im tired from the poker so i want to try something new, while im hodling in this market.

I think you must learn first how trading works before you going to day trading because day trading is too risky compared to longterm trading.

You can try some crypto trading courses like this youtube link https://www.youtube.com/watch?v=hUGW3BiM-FA

I hope that it might help.

[JustNerd]

Thank you for the reply everyone.

Im not goin to start day trading now, i just want to learn about it before that, some knowledge about that how works the market and maybe after that i will try

I have been profesional poker player since 5 years ago so the mental part is not a problem, but im tired from the poker so i want to try something new, while im hodling in this market.

I think you must learn first how trading works before you going to day trading because day trading is too risky compared to longterm trading.

You can try some crypto trading courses like this youtube link https://www.youtube.com/watch?v=hUGW3BiM-FA

I hope that it might help.

Yes, i want exactly something like that. Something which can give the the base which i can build up, those days the problem is not the lack of information but the quality of the information, i just need something which is worth it.

[entebah]

This is not a very good idea. It cannot make you many money if you day trade. It might costs you a lot if you don't have the idea in trading. So, becareful on what you trade for.

I agree with you, daily trading requires good analysis.
advantage is very difficult to obtain. forget fomo and that kind of greed will make your trade difficult. you should do things that are small risk.

[SUDARMONO]

most coin prices are currently decreasing and that includes coin icos, and I think you should make a lot of purchases for you to hold up to high prices again and that's where you will get the benefits.

[adaseb]

Like others have said before. Books won't help you. They are good for teaching the basics like what is LONG or SHORT or what is horizontal support/resistance, etc.

A wise man once said "You can't teach experience" and this is the only thing you require for trading.

You need to understand that you are a little fish in a ocean full of whales and sharks, who have more money than you and experience. The stock market is no different. Most people who try and day trade probably end up giving up after about 6-12 months or so.

[agu3000]

Some tips:

• First study the market behavior before investing, do some simulation.
• Invest only what you are willing to loose
• Don't leave your BTC in the exchange
• Trust no one, learn from everybody

Read and view as much video as you can but remember “Practice makes the master.” Patrick Rothfuss

Good luck

[sedahan13]

To learn strategy and risk management of day trading, we should be start by learn technical analysis to determine support and resistance area, and to learn it there are alot of tutorial on the google or youtube. And second one is how to make the trading activity will be less risk by use management of risk and money. Some of the risk management is avoid buy coin on the top, use stop loss/ trailling stop, dont chase price when pumping, and dont be greedy or FOMO and you should be have montly target profit.

[figmentofmyass]

October im planning to spend the month for learning about day trading in crypto.
I would be glad to hear from you any suggestions for books, courses (prefer even more expensive from traders which are with good experience and results in this market) and everything which could be useful for the very beginning.

Thank you!

i haven't read too many books---i'm pretty much self-made. but i would recommend this one: "Charting the Stock Market: The Wyckoff Method"

it taught me a lot about market psychology and cycles, and how to step back and take a bird's eye view of the market you're trading.

as for courses, i would avoid anything paid. i've never heard anything good about paid services, and the general consensus is, why are these guys offering paid courses if they're such good traders? they should be stacking profits from trading!

you should check out babypips for a solid free online course that'll show you the basics of technical analysis:

one of the best places to start learning technical analysis is babypips. i recommend starting here: https://www.babypips.com/learn/forex

yes, it's geared towards forex trading, but TA is applicable to all markets including cryptocurrency. the first couple sections are introductory and mostly forex-related. i would skip to "course 3: elementary" and go from there.

for a beginner, i'd definitely emphasize studying support and resistance, moving average analysis, oscillators and divergences. this should give you a good base to work from.

[Ridwan Fauzi]

Thank you for the reply everyone.

Im not goin to start day trading now, i just want to learn about it before that, some knowledge about that how works the market and maybe after that i will try

I have been profesional poker player since 5 years ago so the mental part is not a problem, but im tired from the poker so i want to try something new, while im hodling in this market.

Gambling is about lucky, maybe there are some parts about strategy. But in the field of trading, isn't all about lucky, strategy and knowledge of trading specifically cryptocurrency is the main point. Your mental and psychic are really needed, and that's good if you were familiar with it.

And about the material to be used as a learning to become a trader, it would be better if you increase your practice compared to searching more about the theory. With practice it will make you learn more about yourself, or learn about what you have done before. Evaluate of every profit you get and also evaluates if you get a loss.

[wikiaki]

Hi guys,

 I'm considering to start day trading. Before now i'm in the crypto world from more than a year. I'm minner and i made some good profit from icos, but the current condition of the market is terrible for icos. If they don't don't adjust i can't see any profit in them for now. So i want to try day trading in crypto, while the volatility is still prespective for not so hard profit.

October im planning to spend the month for learning about day trading in crypto.
I would be glad to hear from you any suggestions for books, courses (prefer even more expensive from traders which are with good experience and results in this market) and everything which could be useful for the very beginning.

Thank you!

You should not trade the day at this time. The market is bleak and there are some confusing things going on that will be a big risk that is on you. Do not try to become the prey of the market. Please wait for a better market to trade.