Mistakes need to avoid in day trading

[wayaneka]

In crypto market there are always 2 different trend, bearish and bullish so if we trade only when bullish trend will be minimize the risk and we can make maximum profit. There are many trader and investor has been loss more than 80% , and that happen because they dont have any risk management. Anytimes we want to decide to trading or make invest in crypto, we should be use stop loss and learn more about the trend and price action of crypto. By to see historycal price, we can loss more than 90% from crypto so when bearish trend started we should immediatly out from the market.

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[CoinChili]

Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.

[Noa_Amable]

In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.

More points about mistakes need to avoid are welcomed here for the newbie to learn.

Day trading on bear markets is not advisable. Try to notice the price and one thing that you will notice is the price is not going anywhere. Most of the time, price is just moving side ways. The profits that you get is not enough to pay for the fees. If you really plan to continue day trading, set a low target like 2% to 3% profits, upon hitting your goal, Sell right away.

well, sometimes you can use CFDs to benefit from bearish trend. though it is a problem to find a good CFD provider

[TheUltraElite]

Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.

I am yet to learn how a person who does not have enough knowledge can trade vigorously. Please let me know your thoughts. Unless they completely playing with their money they wont do so.

However just understanding charts and patterns wont do you any good unless you try some dummy trading yourself. In day trading the indicators do need to be kept track of and once you get the hang of it, it becomes easier to track. But tracking them before a certain move is tough and thats is where predictive power comes into play along with the knowledge of indicators.

[CryptoToxicAvenger]

You should have at least a basic knowledge of trading and this will allow you to start earning. Do not spend a lot of time just for training. Start practicing slowly. Then you'll learn faster.

[Babyrica0226]

To avoid mistakes in trading you're not supposed to be in control of your emotions dude.
Then, don't  believe easily or depend in any of the FUD news you will read in the updates of the coins, also
Don't rely on your luck too.

[Polar91]

To avoid mistakes in trading you're not supposed to be in control of your emotions dude.
Then, don't  believe easily or depend in any of the FUD news you will read in the updates of the coins, also
Don't rely on your luck too.

That's why you need to build up yourself and become an independent trader with great technical analysis in understanding the market movement. This is why, continuous learning in trading is must if you wanted to be profitable in the long run.

[crwth]

To avoid mistakes in trading you're not supposed to be in control of your emotions dude.
Then, don't  believe easily or depend in any of the FUD news you will read in the updates of the coins, also
Don't rely on your luck too.

That's why you need to build up yourself and become an independent trader with great technical analysis in understanding the market movement. This is why, continuous learning in trading is must if you wanted to be profitable in the long run.

I think it's great to know about trading especially when you know some technical analysis within it. Having correct trades and great understanding is beneficial. But the most crucial part in my end is the strict emotional control. I do think the continuous development of self-knowledge and emotional power should be done.

I do this too with the power of an automatic trading tool like Gunbot.

[Calif]

OK
I think one of the major tips of day trading is keeping it simple, don't be greedy, do not aim too high, 2% to 3% is not too bad par trade.

HOW TO AVOID LOSSES..
to me I don't depend much on the too their.. I observe the graph and see how the trading has been for that day, for the past two day's or for the past 1week, with the graph I know how to buy and sell, or even if I don't sell out immediately with the graph I know I have hope

[iMark]

Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.

You have to memorize the strategy of seeing candles in the market, because many traders usually don't understand this strategy and may only have a few strategies read the market, you have to enrich yourself about many strategies to read charts and candles

[Botnake]

Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.

You have to memorize the strategy of seeing candles in the market, because many traders usually don't understand this strategy and may only have a few strategies read the market, you have to enrich yourself about many strategies to read charts and candles

Reading charts and candles would help actually but it's just a minor tools for your success.
You will be able to be more effective if you can predict the future price movement and you need more than a chart or candle to do that, insider's information is very effective as it could move the price when the news is big.

[avarnet]

that's true because a lot of people make mistakes like too panic and too ambitious, because both of these traits are most avoided by traders and they must be removed in our heads

[HatakeKakashi]

Trading while having an emotion is not good in my case. Because what if the coin that you holding is going to down the price for sure they have possibility for you to panic selling that's the other do last year. Everythings that can cause you make mistake better should be avoid that. The information is good and very informative that can help to the newbie if they are in the day trading.

[Lpim01]

Trading while having an emotion is not good in my case. Because what if the coin that you holding is going to down the price for sure they have possibility for you to panic selling that's the other do last year. Everythings that can cause you make mistake better should be avoid that. The information is good and very informative that can help to the newbie if they are in the day trading.

Its a human feeling and we can't avoid that but we can tried to control it. That is how important to think wisely in all situation we encountered in trading and we might have to extend our patient. Cause once our emotions blown out, possible we can't think better and only we possible  to think is to sell and sell..

[Thanasis]

To avoid mistakes in trading you're not supposed to be in control of your emotions dude.
Then, don't  believe easily or depend in any of the FUD news you will read in the updates of the coins, also
Don't rely on your luck too.

Day trading mainly depends on our luck but we don't have to simply trust on it to becomes profitable by day trading.My advice is don't do day trades if you want profits on long term without much effort because by doing day trading you can't make anything bigger even you can achieve good profits everyday.

[boris singer]

Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.

the desire to find ways to reduce the loss ratio is obtained from many factors. for example by following certain signals and then researching them personally. so it can't be instant to memorize all available methods. But many traders make mistakes in speculating profit ratios and how to handle coins that must be sold immediately because of inappropriate momentum, this experience must be explored because daily trading sometimes runs erratically outside the target

[iCryptoPro]

I'm not sure if this was already said but don't put all your money in one position!

[michellee]

I'm not sure if this was already said but don't put all your money in one position!

I think that is the basic lesson in crypto trading, besides that we have a big chance to make a profit from the random coin.

In crypto, we can see many coins will increase the time to time and although we don't know which coin that will increase if we can diversify that coin, our chance will bigger. But it's not easy to buy many coins because we need to have a bigger balance so we can split the fund between buying many coins at a low price.

[BigTeeths]

I wish daytrading was like the previous years before the crackdowns because it is still very lucrative. I don't want to pursue daytrading for now because maybe you can get 1%-5% which is the  maximum at this moment you can get but then when the crash happens, it declines a massive 20%-50%. It's very ugly to see those things so the strategy would be better if we just accumulate.

[Best Dreams]

In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.

More points about mistakes need to avoid are welcomed here for the newbie to learn.

Day trading on bear markets is not advisable. Try to notice the price and one thing that you will notice is the price is not going anywhere. Most of the time, price is just moving side ways. The profits that you get is not enough to pay for the fees. If you really plan to continue day trading, set a low target like 2% to 3% profits, upon hitting your goal, Sell right away.

well, sometimes you can use CFDs to benefit from bearish trend. though it is a problem to find a good CFD provider

All of us should take benefit because it will be huge profit, never lose your patience and avoid panic selling good time is not so far we can easily get profit but right now it is good to wait than thinking about selling. It is really big mistake which is happens from new investor and traders mostly, as they sell for panic and then cry so don’t sell just wait.