How to start: Daytrading?

[madnessteat]

I would advise you to refrain from trading while the market is unstable. It is very dangerous to start trading now, as the market may break in any direction at any time. Now even experienced traders are watching from the outside.

[rexxarofmoknathal]

I would advise you to refrain from trading while the market is unstable. It is very dangerous to start trading now, as the market may break in any direction at any time. Now even experienced traders are watching from the outside.

I agree with you that as the things are right now, any trade form an unexperienced person could only lead towards massive losses. This would be the case, irrespective of the amount you use to trade, and that's all because of the volatility and these all low historic market lows across all cryptos!

[sana54210]

Most important thing to start with is, never follow anyone else's instincts as it would never make you gain any knowledge. You should try to make your own research before starting with day trading.

Day trading is actually meant for experienced traders as it is not that easy to spot the price changes in 1 minute to 3 minutes graphs. You have to basically start by learning about the charts and patterns and then you have to learn about patterns which are useful for short term trading. You also have to consider learning about the order books to spot the support and resistance levels as you have to adjust your buy and sell orders somewhat near it. You have to get more devoted and try to spend 4+ hours a day in just gaining experience.

[Twentyonepaylots]

I think choose bigger coin like ethereum, bitcoin cash or litecoin become good way for daily trading, third coin have potential for growing up every day although just get several percent profit every day.

I couldn't agree more. In day trading, the potential of the coin is on top priority, you cannot just go wild with coins moving in a short price range, you need to see the full potential of the coin by seeing it on the market capitalization and trading volume not just because of its price. Common mistakes of day trader, they always base their instinct on the prices which might or might not totally help them to trading. Also day trading isn't that hard if you are hardly working on it much more than a casual trader does.

[TrevorS]

Most beginners make a very serious mistake when they start day trading. They begin to trade using complex systems that they do not understand, a large bankroll that they cannot manage, and also neglect the advice of experienced traders. Start simple. Start to study the quotes of the charts and guess where the price of the coin you choose will go, write all this in a notebook or notepad. Open your first transactions on paper, in the future it will bring you a lot of benefits.

[DINToken]

Top 3 things to look after?
Are tools recommended?
Thank you!

1, Always put even small take profit orders
2, Do not never forget rule number 2 and 3
3, use stop-loss and take profit

With this you get far

[Kurokonobasuke]

Top 3 things to look after?
Are tools recommended?
Thank you!

As a trader I would like to share on you on how I start trading.
First, find a most trusted person that will help you in studying trading.
Second, Don't be to greed in making profit, because it will lead you to lose a large amount of your assets, because when you greed you don't think about the money that you lose,
            instead you'll just focusing on your earnings but it's not because your just trading a large percentage of your assets and when you get lost it will lead you on a big debt.
Third, when you try to trade. I suggested at least 2-5% of your assets only because it only serves as your practice in predicting the charts so that when you get lose it will not effect a
             lot in your assets.

[Negotiation]

I would not advise doing day trading on cryptocurrencies. This is a risky slash. The best method is swing trading or stall. Cryptocurrencies are too volatile, so losses on stop orders can be higher than daily profit

Swing trading is more damaging than day trading Here is the fear of losing And if you do day-to-day trading you can make some profit every day The amount of loss can be offset In that case you will need to analyze different places. Charts are trading well and need to learn Trading Charts better than you know you can set the price low.

[BitcoinTurk]

Although daily trading seems to be pleasing to the eye, it is quite risky and stressful. As someone who has been daily trading for a long time and continues to do it actively, I would like to say that when you start this business, your life will undergo great changes both positively and negatively. Yes, I said positive change because you can make very good income when you do this job really well and correctly. On the other hand, just as every good thing has a price, this income will also have a price, which is the negative factor of this business. You will have a lot of stress when you do daily operations and it will not be easy to control this stress. Despite all this, if you think that I want to trade daily and believe that you can do this job successfully, you can start trading without further delay.
When you are going to make daily transactions, you should evaluate the graphic analysis with at least 1 hour and a maximum of 4 hours. I can also advise you to follow the support and resistance points instead of using an indicator for your daily transactions. When trading, you should be careful to be patient, not to panic and to control your capital correctly. You should not panic, especially in the event of a possible loss, and you should always keep your loss level to a minimum by using stop-loss.
Finally, I want to say that if you want to sleep comfortably at night, you must definitely close all your operations and go to bed. To give an example from my own experience, I was falling asleep or having a nightmare, especially during the leveraged nights.

[kynaz]

I would advise you to refrain from trading while the market is unstable. It is very dangerous to start trading now, as the market may break in any direction at any time. Now even experienced traders are watching from the outside.

I agree with you. Trading in a bear market can make your risk even higher and if you are not careful you will lose a lot of profit when choosing to invest. This year, perhaps only choose Bitcoin as a long term investment because altcoin now depends very much on the price of Bitcoin, so if the coin can not rise, altcoin will not have any opportunity to increase prices. Anyway, I would consider buying altcoin if it is a good project and patiently waiting for some time to know what will happen.