Day Trading

[lienfaye]

I tried to be a day trader before but it didnt turn out well. I thought its easy, simply you just need to buy a coin then wait for the price movement but I was wrong.

They say you have to be quick and sure in the coin that you'll buy but I didnt take their advices and follow my own strategy, due to this I lost about 200$ in just 3 days of trying.

Well I must say before you try to be a day trader you should be knowledgeable, learn from the pro because its not easy as it seems and day trading is not for everyone unless you're really determine to learn.

[Bosx1ne]

95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable. It really needs more reviews and research before buying certain coin or token. I always advice new traders to spend their time to get to know the concept and the purpose of the projects or to DYOR (Do Your Own Research). Sometimes the reason why you buy certain coin or token because of hype or FOMO ( fear of missing out ) wherein you see your friends in social media enjoying what they hold. FOMO always happen anywhere in social media because it uses as a marketing strategy to manipulate the markets. Therefore, before diving into cryptotrading, always make sure to DYOR!

Based on my observations, most of the day traders are experiencing losses due to the opinions and trading tips that they are following from the self proclaim expert in cryptocurrency trader. They thought that this self proclaimed expert can really predict the price of the cryptocurrencies that they are trading. I only trust my self when I do trading because I have a lot of information that I got from studying and from my experiences.

[playboy654]

95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable. It really needs more reviews and research before buying certain coin or token. I always advice new traders to spend their time to get to know the concept and the purpose of the projects or to DYOR (Do Your Own Research). Sometimes the reason why you buy certain coin or token because of hype or FOMO ( fear of missing out ) wherein you see your friends in social media enjoying what they hold. FOMO always happen anywhere in social media because it uses as a marketing strategy to manipulate the markets. Therefore, before diving into cryptotrading, always make sure to DYOR!

the statement is correct because some of the trading people will not do it properly and don't know the right situation going on this field so the traders should definitely know about this field and get updated every day otherwise you cannot survive here for long time.

[arpon11]

Cryptocurrencies market is highly unpredictable and the volatility in its price makes it very difficult for traders to make profits from the market.  To day trade you must be skillful in analyzing the market fast and understand price action in a shortest time possible.  Many cryptocurrencies day traders lose money because of wrong time of investing and because a little time price changes it will become very difficult for one to follow the trend and your open position may just be at loses.

[TheUltraElite]

the statement is correct because some of the trading people will not do it properly and don't know the right situation going on this field so the traders should definitely know about this field and get updated every day otherwise you cannot survive here for long time.

When would you call it the "right situation"? For a trader who is starting out new so position seems to be a correct time to buy in - thats for those who have a hard time parting with money and every time seems a good time to buy - for the wannabe get rich quick people. In my opinion both of these are two extremes of the spectrum. There are diligent traders in between making money from it and also cashing out money in between.

What is important is that people learn the basics about the asset that they are trading with. Weed out the shitcoins and koolaid crew pump and dump coins that are going nowhere. Be a bitcoin maximalist.

[Suharti12]

I think now the situation is good for daily trading, because seeing market price movements also starts to increase, so I believe this is also the right time to trade.

[arifteguhr]

I think now the situation is good for daily trading, because seeing market price movements also starts to increase, so I believe this is also the right time to trade.

if in my opinion now is a great long-term trade to get a big profit because now to get a big enough profit it is still very difficult. so it's good to do long-term trading

[wuvdoll]

I think now the situation is good for daily trading, because seeing market price movements also starts to increase, so I believe this is also the right time to trade.

Starts to increase is good sign for day trading ? A complete wrong assumption. Moreover, the current market situation is sideways movement and which is always a good thing for day traders. You may buy and every dips and may sell at your targets. When market is trading within a range, identifying the dips and peaks are much easier for day traders hence this must be a right time for day traders to risk more.

if in my opinion now is a great long-term trade to get a big profit because now to get a big enough profit it is still very difficult. so it's good to do long-term trading

There will be no auspicious time for long term trading because all the prices what we are having currently must be the good prices for buying and holding because in near future crypto may rise up to x10 too.

[CarnagexD]

I think now the situation is good for daily trading, because seeing market price movements also starts to increase, so I believe this is also the right time to trade.

if in my opinion now is a great long-term trade to get a big profit because now to get a big enough profit it is still very difficult. so it's good to do long-term trading

Indeed!  Long term holding is the option that everyone got now since the market is not in a good situation you van't get instant profit and also you'll not going to lose instantly but you have a huge chance to gain big enough equal to the time you waited.

[beerlover]

Day trading by far is the most unreliable thing to do since it relies on a good stability on that particular coin that is needed to profit day by day. I think this can bite your money little by little if you're not careful enough you could lose it all in one go or one day or so. I prefer to do long term trades than day trading even though it also has risk long term trades can change it's price due to long periods of time while day trades has a span of a day.

Day trading is a good thing to do provided you know what you are doing and the strategy you apply. You must first access yourself to know if you are a trader or an investor, if you are the type that allows emotion to take control of your trading then it’s best to be an investor rather than being a trader.

Day trading is what most trader that knows what they are doing like me do to put food on my table and money in my pocket, the key to day trading is trading right and trading coins that have prospect or stable coins. If you must day trade, you must have a thorough knowledge of it, though day trading is not for everyone but it’s good for the one that are knowledgeable about it and knows how to manage risk.

[Noa_Amable]

I could not succeed as well in day trading. Did analyze, spend time in learning and invested. But when comes to practice, lot many things to be learnt. Experience will certainly guide you gain profits. Patience is indeed needed. Need to be more proactive and be in a state to either loose or win.

Right. Practice makes perfect.
Still, try to use technical analysis in trading if no major events are expected

[danherbias07]

Deep research.

It is easy when you are just thinking about it or you hear stories about it. It sounds so great specially when they talk about their profit.
Videos in Youtube are all scattered with this types of examples. I would not dare believe them all.
It takes time and experience to complete a good day trade. Mostly it ends up with a large loss when you want back the investment you loss.
More like gambling it at start.

[richmcrich]

I don’t think day trading has to do with just buying coins you are not aware of or researched and knowledgeable about daily for trading purpose, that would be the most hilarious thing to do by any trader, I believe any trader day trading must have known so much about the coin he or she is day trading on, like me, I day trade but day trade on coins that I already acquired and didn’t just buy the coins same day or hurriedly because I want to trade.

I think the reason why people fail mostly is not only because they lack the knowledge, they rush into trading without knowing how to manage risk, sometimes greedy and also do panic selling a lot.

[mersal]

In some of the investment only best for day trading we cannot do it in all type of currency is so if you want to get the quick income frequently again and again you need to be more experience otherwise day trading will not suitable for lots of percent because most of the people entered in day trading and they will get failed very soon.

[Finestream]

I don’t think day trading has to do with just buying coins you are not aware of or researched and knowledgeable about daily for trading purpose, that would be the most hilarious thing to do by any trader, I believe any trader day trading must have known so much about the coin he or she is day trading on, like me, I day trade but day trade on coins that I already acquired and didn’t just buy the coins same day or hurriedly because I want to trade.

I think the reason why people fail mostly is not only because they lack the knowledge, they rush into trading without knowing how to manage risk, sometimes greedy and also do panic selling a lot.

Exactly.The greed of people and fear of missing out are still the best reasons why most people fail in day trading.Day trading is quite hard compared to long term trading so it will really require more confidence enough to take the risk and even more time to monitor the market.Panic selling won't make any good either in day trading or long term trading.

[nydiacaskey01]

In some of the investment only best for day trading we cannot do it in all type of currency is so if you want to get the quick income frequently again and again you need to be more experience otherwise day trading will not suitable for lots of percent because most of the people entered in day trading and they will get failed very soon.

At this kind of market that we have, day trading is not suitable. Most of the time, those who tries to buy today will more likely to sell after a few days because price moves very slow like less than 2% or even lower. I suggest that the best time to Sell is on a Monday or Tuesday because lately I notice price goes down on a Friday and Saturday then price will start to pick up again on a Monday and Tuesday.

[Bonsaiav]

95% of all Day Traders fail because of lack of knowledge and timing.

For experienced traders, daily trading is actually one of the softest areas for them because basically day trading can be very profitable, but for beginners of course this will potentially cause losses. As far as I know, beginners are usually more likely to ignore something about what we need to do, and what we don't need to do.

95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable.

This thing is precisely the main attraction for most experienced traders, because the value of cryptocurrency's more speculative than fiat currency. IMO, by trading / crypto business, it means you have your own business, you have a lot of time for your family, but if you don't want to trade like this, (if so) then you need to think again. Please compare with others, because those who are at higher risk usually give more benefits, and even then if you are sufficiently knowledgeable and able to manage time well.

[Willitivity]

Couldn't agree less with this, basically the market requires some degree of knowledge before one can go into it and turn out successful and this doesn't apply to day trading, it applies to everyone in the crypto space down to hodlers. Taking due diligence and studying any project before going into it is crucial especially if you're in for long term.

[izanagi narukami]

By seeing the record, bitcoin should be consider as long term investment.
Personally I dislike day trading because the value too volatile but if you're seeking long term trading, you will find that it's profitable and of course less stress.

The key is one, Believe on it !

[Babyrica0226]

day trading for now is one of the major methods for us to earn here daily. This is the only way I saw if you want to make profit everyday, but of course this methods was only effective for those who are experts in doing it in the actual market exchange platform whether you trade bitcoin or altcoins either.