How to choose correct coin for Day Trading

[xvids]

I don't think that there is a way to choose a coin for jus a day trade.
We wouldn't have enough time to analyze all of the alt-coin specially those who aren't on the top 100.
I think the coins that is rapidly raising up from some trading sites are orchestrated by some groups but it is risky to join them.
I see them as a pyramid schemes the early investor would take profit from the late one's.
So you need to be fast when you've joined one and be alert on the dump don't hold it for so long because it would surely crash down and you would lose more.

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[Dorodha]

The reason for this is changing over time, because it is unclear which one will be successful and which will fail. Every day some new coins or tokens are coming to the market and they are trying to capture the market but they are failing. In fact, there are some decisions that you have to make yourself and you will fail Because it's important that you know the details of everything.

[Janation]

The reason for this is changing over time, because it is unclear which one will be successful and which will fail. Every day some new coins or tokens are coming to the market and they are trying to capture the market but they are failing. In fact, there are some decisions that you have to make yourself and you will fail Because it's important that you know the details of everything.

We all know the reason of the fast-changing market, that is because of the volatility of cryptocurrencies.

That is why it is so hard to pick a good coin to trade since we don't know, well, no one knows what coin will be the pumping one or which one will give us the best profit that day. Another thing is that you should be aware of the changes every sinlge day which will be hectic if you have a lot of cryptocurrencies or your portfolio is so diversified.

[ScamViruS]

It is difficult to find the right coins for day trading. There are many groups who sell signals. But those groups are mostly involved with pump dumps. Pump dump groups are dangerous. They pump coin and and give signals to their subscriber. I joined such a group, and I suffered huge losses. In my opinion  coins should be buy through technical and fundamentals analysis.

[Baoo]

Well, It is not  easy to predict the best profitable cryptocurrencies for a day trading, the charts of market are always changing over time. In my opinion, I only focus on a long term for trading, it is really essential for being patient in this field. Possibly, you will make a profit in the day trading especially when you pick the right coins in the best time but not all the time, there is nothing expected well in this volatile market.

[jcpone]

I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.

But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.

Any one know pls share some tips for me.

Before you buy some coins in the exchange dude, you need to review or check the latest updates about it first.
After checking that things, you must also check its status at the coinmarketcap as well if the community are positively supporting
it or not somethings like that.

[Taskford]

I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.

But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.

Any one know pls share some tips for me.

Before you buy some coins in the exchange dude, you need to review or check the latest updates about it first.
After checking that things, you must also check its status at the coinmarketcap as well if the community are positively supporting
it or not somethings like that.

That's what I do to see if  the project still have developments to get a better insights of quick profit but don't usually go back  to buy again since I don't trust to hold back and look for another prospect to  earn, but if people still not sure on how to investigate or don't know what  to do better if they stick on bitcoin  and learn the basics since trading the top is the most ideal thing for beginner for testing the waters.

[TheGreatPython]

Volume. Yes, it is the simplest answer on-which you must choose your coin for trading.

When you're focusing on high volume based coins then you can easily filter out the coins which are being pumped and dumped by its bag holders.

Moreover, I never recommend to go for daytrading even with high volume coins like bitcoin or ethereum because definitely you will get trapped because no one could predict exact reversal point of markets which is the reason daytrading is always a slow kind of suicidal. If you want to make easy money from crypto markets then definitely you must adopt the holding way of trading because it will definitely fetch you big profits over the time as we are still in early adopting stage of cryptocurrencies.

[isaac_clarke22]

You should be able to use trading tools like Bollinger Band. There's tutorial for day trading in Youtube, if the coin didn't seem to give you any good within that trading tool I mentioned, then probably you should skip that coin. You got higher chances around top 5 in CMC. If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.

[tbterryboy]

If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.

Yes, OP is mentioning about only basics he knows in trading hence I am also suggesting him not to go for day trading due to its wild risk levels. But, we cannot ignore the fact that everyone starts with no experience but over the time, they may become profitable and then slowly becoming professional traders. Still, trying with least capital must be more important until gaining enough experiences.

definitely you must adopt the holding way of trading because it will definitely fetch you big profits over the time as we are still in early adopting stage of cryptocurrencies.

That must be a good suggestion for the people who do not have any experience in trading so far. I agree the current markets must be at its bets prices to accumulate as much as possible. Still, investing only in bitcoins may prevent unnecessary regrets later as only bitcoins are having definite future as far as I studied.

[Coin_trader]

You should be able to use trading tools like Bollinger Band. There's tutorial for day trading in Youtube, if the coin didn't seem to give you any good within that trading tool I mentioned, then probably you should skip that coin. You got higher chances around top 5 in CMC. If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.

Bollinger Band indicators is commonly used to determine the right entry point in trading because it show high/mid/low in the channel trend so definitely not a good tool to choose in determining the right coin for day trading.

If OP is using leverage trading then he has no problem on determining the right coin since he can adjust the leverage on trading. The goal in day trading is earn sufficient amount of money in short period so most probably the perfect coin are those volatile coin.

Try to use Average True Range(ATR) indicator to determine what is the average volatility of a certain coin. That indicator shows you range of price change of the per time frame that you want. It is perfect to hunt perfect coin for day trading. You should always look on the average price change.

[MWesterweele]

You should be able to use trading tools like Bollinger Band. There's tutorial for day trading in Youtube, if the coin didn't seem to give you any good within that trading tool I mentioned, then probably you should skip that coin. You got higher chances around top 5 in CMC. If you're newbie in trading, I would suggest for you to consider other strategy as day trading is really hard to get around with just plain knowledge on how to do it.

Bollinger Band indicators is commonly used to determine the right entry point in trading because it show high/mid/low in the channel trend so definitely not a good tool to choose in determining the right coin for day trading.

If OP is using leverage trading then he has no problem on determining the right coin since he can adjust the leverage on trading. The goal in day trading is earn sufficient amount of money in short period so most probably the perfect coin are those volatile coin.

Try to use Average True Range(ATR) indicator to determine what is the average volatility of a certain coin. That indicator shows you range of price change of the per time frame that you want. It is perfect to hunt perfect coin for day trading. You should always look on the average price change.

For me the first should consider of trader is to have knowledge to all coins especially to those beginners, so they will know which coin have potential to grow and give them huge profit. Also they should know about the market, to help them on how a good timing to trade by monitoring the situation of the market. To choose a good coin they can allso do reasearch about coin they want or read some article about it.

[LUCKMCFLY]

Personally, what I recommend most is for long-term investment without a doubt with Bitcoin and to trade with trading it is good to choose ETH, or the first 5 currencies of CMC, because they have the behavior and history very similar to that of Bitcoin.

If Bitcoin has a bullish rally, those cryptocurrencies will be the first to increase a lot, if bitcoin falls in the same way those currencies do so, but they have a greater degree of survival due to their history, which, does not happen with nascent coins or new projects .

[Dr.Osh]

for a beginner, you should choose a coin that is famous and popular. the top 10 altcoins will be a good choice for starters, and for learning. In fact, people use coins whose fluctuations are very high, and that is found in altcoins outside of the top 10. However, for the beginning try using BCH, or BSV, it has large fluctuations.

[barbara44]

for a beginner, you should choose a coin that is famous and popular. the top 10 altcoins will be a good choice for starters, and for learning. In fact, people use coins whose fluctuations are very high, and that is found in altcoins outside of the top 10. However, for the beginning try using BCH, or BSV, it has large fluctuations.

Top 10 coins from which list? From coinmarketcap's ranking? This must be famous and basic mistake, most of traders are usually doing and ending up losing their money by getting struck with corporate coins.

For example, XRP is a shitcoin from a corporate (means not a decentralized coin) and if you notice by this time last year it was trading around 9000 satoshi and right now trading below 3000 satoshi. Another perfect example is TRX, which was trading last year around 700 satoshi and now just came above 200 satoshi. These are the coins which do get their places under 10 in coinmarketcap list but sucking innocent investors money slowly.

[Lecam]

I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.

But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.

Any one know pls share some tips for me.

I think you should know the coins that popular so that you can do trading to get a profit. Many altcoins but only some are getting popular so choose the popular one, I think you can choose the correct coins if you do search which coins are the popular most that you can trade.

[xSkylarx]

I think there's no way for a coin to be a correct coin for daily trading because it is depending on the trader's preferences on what coin will suit his taste for his desired daily trade. If you want a day active  trade, You should find a coin that has high liquidity more of a coin that has a higher volume. You can check coinmarketcap for those coins.

I agree. It depends on your target profit as well. There are lots of potential coins out there but you have to look for coins with good potential. You can check on their history and legitimacy.
I always prefer to choose from top coins like Ethereum and ripple because they have been consistent and have passed lots of tests of time but Bitcoin would still be the best choice for me.

[Btc_1856]

I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.

But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.

Any one know pls share some tips for me.

I think you should know the coins that popular so that you can do trading to get a profit. Many altcoins but only some are getting popular so choose the popular one, I think you can choose the correct coins if you do search which coins are the popular most that you can trade.

Without complete research about the coin, it is impossible to trade the coin and even though we have found out potential about the exchange in order to trade the coin. Yes, without research it is impossible to find out potential about the coin.

[sana54210]

Without complete research about the coin, it is impossible to trade the coin and even though we have found out potential about the exchange in order to trade the coin. Yes, without research it is impossible to find out potential about the coin.

You are simply contradicting yourself. What is the point of trading a coin without analyzing about it. It will happen when you are getting misled by exchanges or by advertisements or by your friend through pump and dump games. Do not listen to everyone for risking your capital but you should go for your own due diligence so that you can multiply your capital rather than losing them with an unknown coin.

I do rarely trade new coins/token as I am sticking with my usual BTC/USD pair. When you are consistent with our performance with the usual trading instrument then you will never need to choose any new coin for your trading purposes.

You may choose new coins for long term holding but definitely not for daytrading.

[traderethereum]

I am new to trading. But I know basics about how to buy, how to sell those. I have some experience too.

But I failed on choosing correct coin for which I do trading, where I get information about it. Which coin get good pumps, dumps today. Like those details is possible to known before.

Any one know pls share some tips for me.

I think you should know the coins that popular so that you can do trading to get a profit. Many altcoins but only some are getting popular so choose the popular one, I think you can choose the correct coins if you do search which coins are the popular most that you can trade.

Without complete research about the coin, it is impossible to trade the coin and even though we have found out potential about the exchange in order to trade the coin. Yes, without research it is impossible to find out potential about the coin.

Yes, it is like to search a needle in the sand because only with research that can help you to find the potential coins to buy. But in these situations, I think it is very difficult to find the correct coin for day trading as we saw that the market still not moving as good as we want. So we need to dig deeper to find those coins that will need more time to get it. If you cannot find the potential coins for day trading, I think it is better to take a break for a while because if you still trying, I am afraid that you will not get that coin, but you can get a loss because you choose the wrong coin.