Why day trading may help you to end up everything | Must Watch for beginners

[S_Therapist]

I am still a newbie and trying to learn trading and more stuff related to cryptocurrency.
Recently I have watched a video from a youtube channel which was really informative and a must watch video for beginners. That's why I am writing here.
In that video, the guy has shared 3 reasons why day trading should be avoided, specially for beginners. I will sum up the main 3 reasons here so that you can understand the video easily.

1. Insider trading
We usually see that some coins get pumped when it is listed on a new exchange, of course on a big one. I will use the same example given by the youtuber which has happened with me too.
I bought BCH after hearing the news of listing it in coinbase. I bought at $4k which was too late. The pump was started before the announcement. So, definitely someone from the insider team of coinbase had bought at lower price and sold to people like us. It was really a bad experience for me. Although, I didn't have to face huge loss. It was around $500.

2. Whales
Whales are generally persons who have a huge amount of money and they can manipulate the market easily.
Although this was not happened with me. Generally they put a big order with a lower price which gives investor a wrong message of bullish moment. When some order filled, they withdraw their order. Before that they put order of selling coins with a higher price. Simple, they sell their coin with a higher price by putting fake order. They same also goes for buying too.

3. Pump and Dump group leader
Those person usually targets a low cap coin and buys huge gradually. After filling all his orders, he start to shill and give signal to his group members to invest in that coin. Everyone invests, leader sells, asks his group member to sells. But who is facing the loss? People like us who doesn't realize the system and get into the boat at a wrong time.

Those are the majo reasons why day trading is very much risky for beginners.
Learn more here- https://youtu.be/ranwObKIucc

[pptIox]

Thank you for your help. For me, you already know a lot about crypto.
The first time I bought crypto was BCH at few days ago, it was really a bad experience for me, I am afraid now. Maybe because I know too little, I am learning about crypto every day. I think that when I understand more, I will not be afraid.
Whales？Do you mean a big company like BITMAIN?
Day trading is very much risky for beginners, then what should beginners do? Will long-term holdings be better?
This video is very helpful, but my English is not good, I will watch it repeatedly until I figure it out, thank you.

[S_Therapist]

The first time I bought crypto was BCH at few days ago, it was really a bad experience for me, I am afraid now.

BCH had a good bubble because of its fork, you should have analyzed little more behind the reason before investing in.

Whales？Do you mean a big company like BITMAIN?

It may be any single entity who holds a huge share of a specific coin.

Day trading is very much risky for beginners, then what should beginners do? Will long-term holdings be better?

I personally prefer to hold for a long time since I am still a newbie for cryptocurrency although I am in huge loss right now.

[DutchDemon]

Day trading is outright gambling. It is true not only in Crypto, but also in Stocks.

[CryptopreneurBrainboss]

Day trading is outright gambling. It is true not only in Crypto, but also in Stocks.

Day trading is more than just that. In fact investing in ICOs is more of a gamble than day trading , day trading requires skills, smartness and luck. It's a good advice for newbies not to jump into day trading if they haven't acquired some education on trading in general.
Day traders are those who keep the cryptomarket exciting and alive without them no fun in cryptocurrency although I don't encourage any newbie to go that way due to the stress/risk involved. Just invest as much as you can spare and hodl.

[Marcel666]

I would rather term those points as things to know when getting into trading and not reasons why day trading should be avoided by beginners.
Everyone had to go through a learning process when entering any new space. And knowledge and guidance is what usually keeps one on the right track.

[Coyster]

I actually do not see any wrong with day trading,just that it's a short term investment,as opposed to the hodling kinda longer term investments,and your points aren't really pointing to the inimical side of day trading...
Any sort of trade is risky to be honest,i for example I trade actively on the market,ive met profit as well as losses,its a normal phenomenon
I know holders(friends of mine) who are at a --50% loss at the moment,as the price is pretty way below what they bought for, and they only can wait..

It's all about doing what works for you,with the right signals and luck,one shouldn't have much of a problem with day trading

[DutchDemon]

Day trading is outright gambling. It is true not only in Crypto, but also in Stocks.

Day trading is more than just that. In fact investing in ICOs is more of a gamble than day trading , day trading requires skills, smartness and luck. It's a good advice for newbies not to jump into day trading if they haven't acquired some education on trading in general.
Day traders are those who keep the cryptomarket exciting and alive without them no fun in cryptocurrency although I don't encourage any newbie to go that way due to the stress/risk involved. Just invest as much as you can spare and hodl.
https://i.imgur.com/SgHzkWa.jpg

Majority of day traders are just algorithmic bots.

[Coin_Dozer]

It sounds to me like day trading is like going to a casino with a 50/50 chance of financial gains.  Lol but not as many flashing lights