How to start: Daytrading?

[wajik-tempe]

Don't greedy to chase your profit. Otherwise, you will miss the right time to buy and sell. You need to have skills to analyze the coin because, in day trading, it is not easy to choose the coin as many coins will tempt you to select. You should know when you must get out of the market, especially if there is no sign to keep staying at the market.

Tools only help you to analyze better, but you should have the basics skills in analyzing. Last but not least, only use the money you can afford and don't risking all of your money.

Tools are really needed for newbie traderw who want to do day trade because in day trade we don't trade only one coin a day, it must be more than 5 coins or even in different exchanges. So, for easy monitoring our trades we should have tools like blockfolio so we can control our trade and know the right time when we have to get out from the trades.

[1714848281]

1714848281

[1714848281]

1714848281

[1714848281]

1714848281

[1714848281]

1714848281

[Kevondo]

Don't greedy to chase your profit. Otherwise, you will miss the right time to buy and sell. You need to have skills to analyze the coin because, in day trading, it is not easy to choose the coin as many coins will tempt you to select. You should know when you must get out of the market, especially if there is no sign to keep staying at the market.

Tools only help you to analyze better, but you should have the basics skills in analyzing. Last but not least, only use the money you can afford and don't risking all of your money.

Being greedy is good as long as the approach is realistic and smart. If you desire to get huge amounts of money, that is good for you eventually. However, you must not look for shortcuts and willing to do more work than you are. Choose a potential coin, that is basically bitcoin and you wont have to leave the market ever. Other than this, tools should be used but depending totally on them is wrong.

[Visbay]

Don't greedy to chase your profit. Otherwise, you will miss the right time to buy and sell. You need to have skills to analyze the coin because, in day trading, it is not easy to choose the coin as many coins will tempt you to select. You should know when you must get out of the market, especially if there is no sign to keep staying at the market.

Tools only help you to analyze better, but you should have the basics skills in analyzing. Last but not least, only use the money you can afford and don't risking all of your money.

Being greedy is good as long as the approach is realistic and smart. If you desire to get huge amounts of money, that is good for you eventually. However, you must not look for shortcuts and willing to do more work than you are. Choose a potential coin, that is basically bitcoin and you wont have to leave the market ever. Other than this, tools should be used but depending totally on them is wrong.

Yeah for sure everyone desire to become rich so those who are being foolish to think that in trading they can get fast profit by using short cut are gonna suffer lose as willing to become rich faster without working hard is the wrong concept just make research then you will find the best coin for you and when you get your coin then just hold and trade for long term.

[AGroose]

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

[JessicaVL]

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

When it comes to day trading, you'll want to start off slow! Trade only with amounts you can afford to lose, and ensure that you're keeping track of the ups and downs of the market. If you get good enough, day trading can eventually become a profession, but it'll take you a while to work up to that. Also consider using a marketplace like Vertex to trade - fees are lower than on exchanges so you can maximize profit.

[nekonyun]

looking for coins that have potential to grow in the long-time and also check coins specifications like total supply coin, price ICO or community coin will be able to make prices rise or not. and also analysis coin price movements period 1 day and 1 month

[RealMalatesta]

I guess OP is treating day-trading as something too different but in reality it is just a short term trading and when dealing with only on spot markets then there will be no worry to close your day-trading within a day; this way your day-trading may turn as a positional trading which is always good for making easy money compared to day-trading.

Day-trading in derivative/leveraged market is NOT at all recommended. We may day-trade the spot markets and if it is not profitable then we must focus on holding it rather than exiting at stop-loss levels. Remember I talk all these just based on bitcoin and few established altcoin based trading alone and not for trading shit altcoins which do fly on pumps without enough volumes.

[desertfox470]

Look for a coin that has a high trading volume, don't ever buy a coin that has a very low trading volume also consider if that coin is a good for investment some of the good coins with a high vitality rate is the Bitcoin, Ethereum, Ripple or the top 10 top cryptocurrencies.

You should consider as well on when you are going to enter the market thorough the analyzing the market using technical analysis and set an amount of your target and when you have reached that specific target then don't be greedy and get out.

Lastly, cut your losses by setting a price on where you need to sell it don't ever think that it might go back again. It's better to be safe than never and remember to accept losing in trading and accept small losing rather than big lose.

[rexxarofmoknathal]

Top 3 things to look after?

To my knowledge the top 3 things to bear in mind are, cover your basics, don't invest more than you can afford and set yourself a deadline for when you're going to stop day trading and asses how it all went. Also, can use tools but I wouldn't recommend them at the beginning, give yourself some time before you use them as you'll need to first understand how they operate.

[BuNga_cute]

Starting day trading we must use capital that we can afford to lose, the next step is take profit of no more than 3% per day. And the last step
is using the cutloss feature, so when the market changes suddenly it becomes bad. We can still do day trading, by buying more coins at low
prices. If we carry out the three steps I mentioned, they should be able to make a profit per day. And my suggestion is to save profits that can
be stablecoins so it is not affected by price movements in the market. In my opinion for day trading no tools are needed to predict prices or help
from trading bots. Just do it manually will go smoothly.

[FanEagle]

Top 3 things to look after?

To my knowledge the top 3 things to bear in mind are, cover your basics, don't invest more than you can afford and set yourself a deadline for when you're going to stop day trading and asses how it all went. Also, can use tools but I wouldn't recommend them at the beginning, give yourself some time before you use them as you'll need to first understand how they operate.

OP only made this short thread to ask for experiences from some traders here. This explains me how lazy OP actually is and such people hardly have any profits in trading. There would be a huge list for OP to start with if he wants to have any profits with trading. Trading is never impossible and any individual can start with trading with no prior knowledge but the efforts to be taken by such individual are great enough.

There are thousands of newbies entering cryptocurrency trading daily but more than half of such newbies might be leaving the markets in a single day. Trading is a trickiest source of investment but yet can give us major profits so you should always try to gain as much knowledge as possible before actually performing your first trade.

[bearexin]

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

Everything you can lay your hands on is recommended, as long as it’s something that’s going to be helpful. Day trading is not quite easy, don’t think it’s easy because people don’t come here to share story on how they lose except when they start winning.

So, take your time and study, when you have fully understood how it works you can then get into it. And there’s something you else you have to understand, cryptocurrency is volatile and most of the times you don’t need just only technical analysis to tell where the price is really heading to. You need to be following up with news as well.

[Mumbeeptind1963]

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

Everything you can lay your hands on is recommended, as long as it’s something that’s going to be helpful. Day trading is not quite easy, don’t think it’s easy because people don’t come here to share story on how they lose except when they start winning.

So, take your time and study, when you have fully understood how it works you can then get into it. And there’s something you else you have to understand, cryptocurrency is volatile and most of the times you don’t need just only technical analysis to tell where the price is really heading to. You need to be following up with news as well.

I agree, Day trading is not easy to do its also need a enough knowledge and you're always in the monitor to check. Also most of your time is needed because of time to time monitoring of the market due to volatile of the crypto, it's better to learn all aspect of day trading because it can avoid or lessen you from loses. And keep studying and learning about day trading and be ready to consume more of your time because in the end can give you good result.

[Arcas]

Daily trading is very good way for trading because you always get profit every day without hold your coin because price going down, but checking which one good coin for trading in daily day is hard and look impossible we can get profit every day.

[iv4n]

Daily trading is very good way for trading because you always get profit every day without hold your coin because price going down, but checking which one good coin for trading in daily day is hard and look impossible we can get profit every day.

It's a good way for people who have experience and knowledge about trading. Daily trading is not for newcomers who never traded before, for people who don't have reliable source of info. Daily trading is definitely not for people who can't afford to lose some money before they start to make profit. Bankroll management is important when you're dealing with money in any way, especially in trading and gambling.
My advice for starters is to learn and to  be ready to spend some money for that knowledge they will get along the way. In that process newcomer will be able to try different things and to find out which strategy is the best for his time and bankroll, because what works for one will not necessary work for others.

[fabiola!]

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

if you are planing to do day trading then you have to know managing trades and money risk first , because every day there will be different market conditions if we you dont know how to deal with market conditions then your account will be wiped , you should know when to trade , when not to trade , what position size to use in different conditions   

[tbterryboy]

First of all I would suggest you to read online about how to read charts, how to read a chart usually starts with indicators and you will learn at least 40% of all you need from just that, if you know how to read charts, if you know what indicators means, if you know the needed terms to read them and you are capable of looking at the prices from all angles instead of just one-sided that would mean you will be fine while trading.

After that the most important is to go to bitmex or any other website that has "test trading" feature so you can just test yourself and see if you could trade properly and make a good amount of money. If you are capable of making a profit from the testing place, you can slowly turn into real trading and start making some real trades.

[MWesterweele]

First of all I would suggest you to read online about how to read charts, how to read a chart usually starts with indicators and you will learn at least 40% of all you need from just that, if you know how to read charts, if you know what indicators means, if you know the needed terms to read them and you are capable of looking at the prices from all angles instead of just one-sided that would mean you will be fine while trading.

After that the most important is to go to bitmex or any other website that has "test trading" feature so you can just test yourself and see if you could trade properly and make a good amount of money. If you are capable of making a profit from the testing place, you can slowly turn into real trading and start making some real trades.

Day trading is quite not easy and risky because it's price easily change that's why you need to monitor the market time to time. Also you need to know how to read the chart to avoid loses, it will be fine if you know when to continue and stop. First you need to know about your coin, second know the maket situation, but most of all have patience.

[qory]

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.

[shoreno]

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 dont know bout eth but maybe bch and ltc can fullfill what you say  . i see eth as a non unstable altcoin , i can see it via its value because you know ive been checking eth the whole time.  also i monitor the price of bch sometimes but i notice that bch is kinda stable too while i rarely check out the price of ltc  .

 still for me i think the best coin for doing daily trade or daytrading was bitcoin  . we all know how unstable bitcoin is  . we can use this unstability to pocket tiny profits from time to time  . tho im still sticking to my investment business more than trading