Cryptocurrency Day Trading: How to Get Started & How to Win

[its-a-me-mario]

I thought you all might appreciate this article

Cryptocurrency Day Trading: How to Get Started & How to Win

At some point or another most of us have probably thought about cryptocurrency day trading. The idea of actively making a profit every day certainly sounds appealing, but many people often jump in without doing enough research and end up getting burned. Luckily, if you want to day trade Bitcoin or other digital assets you can benefit from decades of people trading stocks and all of the experience and tools that have developed alongside them. Most of the concepts of trading stocks, and especially the FOREX market, can easily be applied to trading crypto and Bitcoin as well. Let’s take a look at what crypto day trading is, how to get started, and what tools we can use to gain an edge.


In this article we’ll be discussing the following topics:

• What is day trading?
• Is crypto day trading for me?
• What are some day trading strategies?
• Basic tools for day trading crypto
• Advanced tools for mastering crypto day trading
• How do I find which cryptocurrencies to trade?

Continue reading the full article here: https://www.coygo.app/blog/posts/cryptocurrency-day-trading-how-to-get-started-how-to-win/

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[jackg]

The article is quite nice and is very detailed/exhaustive but I think there's a lot of information you'd have to cover to get through everything but I think it might be a good starting point for novices to work out what to do with trading...

Without a solid strategy a lot of people seem to lose money more often than they gain and sometimes people end ip with a false positive (in gambling referred to as a "streak") too where they'll inevitably lose. A lot without taking their profits at a good time.

[jrrsparkles]

I like the part " Is crypto day trading for me?"

Yes that is the reality of people who enters into crypto day trading, all they want is to become rich in quick time so they think day trading will be suitable for them but they forget the fact no one end up will all the trades in profits so they will earn as well as lose a lot but one who knows how to tackle this will reduce the loss and ends up in profits.

[TravelMug]

I like the part " Is crypto day trading for me?"

Yes that is the reality of people who enters into crypto day trading, all they want is to become rich in quick time so they think day trading will be suitable for them but they forget the fact no one end up will all the trades in profits so they will earn as well as lose a lot but one who knows how to tackle this will reduce the loss and ends up in profits.

Exactly, maybe they heard that crypto is a good money making machine, but they didn't realised the risk involved and this is the main reason why there are a lot of novice we got REKT, specially in the last 2017 wherein they keep on investing/trading when all the signs pointing out that we are in a bubble.

This is a good and well written article though, and might fit the beginners mind that crypto should not be treated as a get rich scheme. You still need a lot of work and you have to spend a lot of time learning the process.

[AniviaBtc]

Before trading, you would like to understand about trades and learn trading techniques I also usually trade crypto and you're right there are many traders who jump for day trading as they are available to form more profit in greed then they're more at a loss. Therefore first you would like to understand about crypto you've got to find out the techniques of trading whether it's adieu trading or futures trading the higher the talents the lower the danger.

Day trading is not that easy to do once you are already in to it. I learned and tried day trading, it really help me earn some profits but that's not a guaranteed 100% profit. Risks are still there and in day trading, you should know how to control yourself because greed is always there. When we talked about assets, you should also prioritize your safety and assurance.

Self-discipline in day trading will help you control your emotions and stop when it is necessary. Practicing your techniques will help you minimize those risks and make you comfortable in many transactions. Once you are really good at it and you master how day trading works, then that's an opportunity for you to help yourself earn profits with your own control and manipulation.

[maydna]

I like the part " Is crypto day trading for me?"

There will be a time for you to feel and realize if crypto trading is for you or not, and I think that is happening to many people who are hard to make a profit in trading. One day that question will come out from them, and if that person does not give up to learn more about trading, he will still search for another lesson, and keep learning until he can find the solution.

To get started in trading is not difficult, we only need to buy and sell at any price. But the difficult part will be how we can know the right time to trade because that will need more experience and more learning, and not all people can get the core lesson for that. Many ways that we need to learn about trading, but we need to have self-control in trading.

[Kelvinid]

Not all who come into trading has a good start, instead, they struggled first before they got where they are today. But somehow, many also had suffered losses and quit because they never understand how trading could be, and probably it happens to anyone else.
I know a lot of people wanted to be a trader but one thing to remember first, get prepared yourself and willing to learn. Trading can't be learned in one day or two, or even a week that is why we don't by tomorrow we can make money already because it won't that work easily. Besides, most starters have suffered losses than gaining.

[ryzaadit]

Checked the blog.

Already know all of them, if everyone already jumped into the trading then the blog was not really interesting anymore for him. This blog was more good for a newbie want to be started to do a trade on the markets.

[Kasabus]

Not all who come into trading has a good start, instead, they struggled first before they got where they are today. But somehow, many also had suffered losses and quit because they never understand how trading could be, and probably it happens to anyone else.
I know a lot of people wanted to be a trader but one thing to remember first, get prepared yourself and willing to learn. Trading can't be learned in one day or two, or even a week that is why we don't by tomorrow we can make money already because it won't that work easily. Besides, most starters have suffered losses than gaining.

This one is a good tip for all newbies and that they should be prepared first before making such day trading. Day trading is little bit risky than long term trading so it needs to be deal more from a professional or expert trader. But i believe with experience, everything can be learned in there. Just know the fact that day trading will not make you a wealthy man instantly. It's a very long process and you need to deal it more in a positive way.

[cryptozx]

Before trading, you would like to understand about trades and learn trading techniques I also usually trade crypto and you're right there are many traders who jump for day trading as they are available to form more profit in greed then they're more at a loss. Therefore first you would like to understand about crypto you've got to find out the techniques of trading whether it's adieu trading or futures trading the higher the talents the lower the danger.

Day trading is not for me and it is time consuming to study the patterns.

[LUCKMCFLY]

Everything is really spectacular, who doesn't like to win every day? Even if that is not enough, but they should say what market strategy is applied, if it is only a technical analysis, there is a great possibility that it will fail, in which way the market can be analyzed to get a good TA.

It is also interesting to know what they think when the Bitcoin market is bearish, how they do with altcoins, where the exit in the bear market is to go short for the alts and not lose.

[Andrew Parker]

I always enjoy Crypto Trading but more so under a broker. It’s more comfortable with FreshForex broker, since it gives you higher level of freedom, so it’s definitely my personal and first choice. I work witht

[Wexnident]

It's basically something similar to a dictionary or list of terms that you need in day trading. Still, I don't exactly see any way on how to win so for those trying to read it, don't get your hopes up too much. There's always wins and losses in day trading. The guide mostly states on how to understand how you can win, and when you lose, how to understand how you lost. OP should've also probably added a few trading simulators or something of the like. Though the data may be false, they would at least have an idea on how the various terms work after seeing it in real-time, unlike in pictures.

[michellee]

Day trading is not easy, and if you don't have proper skills, you will feel difficult to find the coin because almost all coins will have similar moves. If you can learn more about how to follow the trend or to predict what will happen in the next hours, I think you will have a chance to buy low and sell high. But in the day trading, you don't need to chase a bigger profit because usually, the market will not move too high unless there is a pump that coming to the market.

[maxreish]

I have read your article and it's quite amazing that you have explain well the risk of day trading, tools and strategies which will be a big help for those newbies that are still confused about trading. There are so much to consider like risk management plan, stop loss, etc.

Also, reading indicators are not easy, coping up with the market and identifying the right entry and exit is also difficult. But having good mindset, we can actually win our goal.

[Latviand]

Not all who come into trading has a good start, instead, they struggled first before they got where they are today. But somehow, many also had suffered losses and quit because they never understand how trading could be, and probably it happens to anyone else.
I know a lot of people wanted to be a trader but one thing to remember first, get prepared yourself and willing to learn. Trading can't be learned in one day or two, or even a week that is why we don't by tomorrow we can make money already because it won't that work easily. Besides, most starters have suffered losses than gaining.

This one is a good tip for all newbies and that they should be prepared first before making such day trading. Day trading is little bit risky than long term trading so it needs to be deal more from a professional or expert trader. But i believe with experience, everything can be learned in there. Just know the fact that day trading will not make you a wealthy man instantly. It's a very long process and you need to deal it more in a positive way.

Day trading is really much risky because you need to deal with the changes in the market every time you perform a transactions. You also need to change your strategy depending on the situation in the market so you will have a profit instead of losses. You need to have a much more experience that's why you need to practice your skills in trading.

In terms of long-term trading, you have a lot of time to prepare and the results are more worth it. Patience is what you need in order for you to have a good timing in trading, that's the problem of some newbies or beginners here, they are very excited to trade even if they are not that ready to have some transactions.

Always keep your self from greed and unplanned transactions, that will not help you win in trading.

[bitgolden]

• What is day trading?
• Is crypto day trading for me?
• What are some day trading strategies?

If this is all about day trading of cryptocurrencies, then I am extremely sorry I never recommend anyone to go for day trading in cryptocurrency markets because as per many people's experience that is not the right way of approaching crypto markets particularly. Even crypto markets are known for its wild fluctuations, we can easily make good profits in long run; this could be the reason why people are never suggesting to go for day trading in crypto markets.

• Basic tools for day trading crypto
• Advanced tools for mastering crypto day trading

This part could be most useful for crypto traders because people are always looking for new strategies which are based on advanced tools to make their technical analysis more powerful to predict market directions. If your article is having anything specific and something new regarding tools for technical analysis then I highly suggest you to go for sharing it rather than asking people to visit your article.

How do I find which cryptocurrencies to trade?

This is not a big science for many people here because people are already choosing their preferred cryptocurrency based on various criteria, among them high liquidation must be the primary one.

[traderethereum]

Also, reading indicators are not easy, coping up with the market and identifying the right entry and exit is also difficult. But having good mindset, we can actually win our goal.

That is what a trader needs to face. It is hard to read indicators, but I think we don't have to try to learn so many indicators because not all indicators can work.
Maybe we can learn one or two indicators, but we can master all of the things that will be necessary to read the indicator.
It needs time before we can master the lesson, but it is worth doing because with having skills in the indicators, that can give us time to search the sign to enter the market.
By keep learning about trading, who knows we can do a day trading, which will be difficult if we don't have enough skills to analyze and see when the time we can buy or sell.

[Josefjix]

That is what a trader needs to face. It is hard to read indicators, but I think we don't have to try to learn so many indicators because not all indicators can work.
Maybe we can learn one or two indicators, but we can master all of the things that will be necessary to read the indicator.
It needs time before we can master the lesson, but it is worth doing because with having skills in the indicators, that can give us time to search the sign to enter the market.
By keep learning about trading, who knows we can do a day trading, which will be difficult if we don't have enough skills to analyze and see when the time we can buy or sell.

By watching indicators, do you mean staying glued to live charts on exchanges? Or asking experienced traders?

As far as I know, there are traders making a significant amount of profit from trading on a daily basis but wouldn't want to reveal the secret behind their success to their fellow traders.

I don't know the reason behind their hoarding of such important information though.

[GreatArkansas]

(...)
There are so much to consider like risk management plan, stop loss, etc.

I agree with this. Risk management is very important in trading.
A newbie should also learn this part, like after they learned the basics of trading, like how to use the charts, some basic indicators, basic candlesticks of the chart, they must learn risk management part like placing a stop loss per trade or the risk: reward ration.

[traderethereum]

That is what a trader needs to face. It is hard to read indicators, but I think we don't have to try to learn so many indicators because not all indicators can work.
Maybe we can learn one or two indicators, but we can master all of the things that will be necessary to read the indicator.
It needs time before we can master the lesson, but it is worth doing because with having skills in the indicators, that can give us time to search the sign to enter the market.
By keep learning about trading, who knows we can do a day trading, which will be difficult if we don't have enough skills to analyze and see when the time we can buy or sell.

By watching indicators, do you mean staying glued to live charts on exchanges? Or asking experienced traders?

As far as I know, there are traders making a significant amount of profit from trading on a daily basis but wouldn't want to reveal the secret behind their success to their fellow traders.

I don't know the reason behind their hoarding of such important information though.

By watching indicators, you can try to draw and analyze the coin moves, so you can know and predict where the price will be, and if there is a good time for you to do something, you will know what you need to do.
Asking experienced traders will be fine, but you still need to search for more signs and analyze by yourself, so that can help you to know more about the market.
Yes, I believe that some traders are making a big profit from trading, and that is because they can analyze better than the other traders.
They don't want to share some important news with others because they want to take the benefit alone.

[FanEagle]

I personally think that everyone's path is different, everyone's mindset is different. Some people came in too early, made just enough money and left, some people made even more money, some people got in a lot later, and made just enough money or maybe they all lost money. There is a million type of people and there is a million ways to get into bitcoin, not all of them are the same and this is why I think that "how to" stuff in bitcoin world are not that reasonable.

I would rather deal with my own version of success and create a path for that individually that suits me the best, that way I do not have to follow anyone else and can do it however I please and how I like. Of course, this doesn't mean I can't take lessons from others experiences, but I could use it to shape my own version.

[MCobian]

I love the articles shared in the opening post, this is very helpful for newbies who want to make money from day trading. And can open
minds of people who fail when trying day trading, because of the fact it is not easy to make money from day trading. It takes a lot of
knowledge and strategies to succeed in becoming successful on day trading. And we can get all of that from that article in the opening post.

[rodskee]

I love the articles shared in the opening post, this is very helpful for newbies who want to make money from day trading. And can open
minds of people who fail when trying day trading, because of the fact it is not easy to make money from day trading. It takes a lot of
knowledge and strategies to succeed in becoming successful on day trading. And we can get all of that from that article in the opening post.

It is, if newcomers will find time to read and understand what inside that article then they'll
be able to get a good guide before performing.
Placing your entry comes from how you really understand the market sentiments, if you are
fully equipped by knowledge.
The anticipation rate is much higher, you can go in any directions and gained decent profits
from each buy and sell that you performed.
Keep in mind that getting to know the process is really important when you are still building
your trading skills.
There are many adjustment and many trials and errors in order to create a successful strategy.

[maydna]

Keep in mind that getting to know the process is really important when you are still building
your trading skills.
There are many adjustment and many trials and errors in order to create a successful strategy.

Yes, the process will lead you to understand what you learn to improve your trading skills. Not just by that, the process will allow you to know how to trade better, and if you can learn more about trading, I am sure that you can prevent the big risk.

The process itself will always continue if you do day trading, so no matter if you lose or make a profit in trading, you should not have to feel sad or too confident because if you are not careful, you will get another loss without making a profit.

[mersal]

Day trading is highly profitable so it have more risks than short or mid term trading.Basically not much people got success while doing day trading for longer time so change your plans accordingly and don't try too hard to make profits when the market is not in the favour.Nice article though which miggt really helps for newbies who wanted to learn about cryptos and tools needed.

[tbterryboy]

Those risks would be the only thing that they are basically facing when day trading, nothing else is negative. So, if you learn how to do day trading and face off against the common challenges of it, there won't be anything they wouldn't know, it is all pretty easy to understand the concept.

Not saying day trading is easy, that is definitely wrong and day trading is definitely a risky and difficult thing, however the easy part is to understand and to learn WHAT part of it is difficult part and where they will have difficulties. So, I would definitely say that day traders know what they are getting into, just a month of studying would give you anything you want to know about it and after that it is just experience and experience is quite important in day trading.

[dunfida]

Those risks would be the only thing that they are basically facing when day trading, nothing else is negative. So, if you learn how to do day trading and face off against the common challenges of it, there won't be anything they wouldn't know, it is all pretty easy to understand the concept.

Not saying day trading is easy, that is definitely wrong and day trading is definitely a risky and difficult thing, however the easy part is to understand and to learn WHAT part of it is difficult part and where they will have difficulties. So, I would definitely say that day traders know what they are getting into, just a month of studying would give you anything you want to know about it and after that it is just experience and experience is quite important in day trading.

When it comes on getting the basics then it doesnt really goes up for a month but you would able to learn it on much lesser period of time.The thing here is that executing yourself
in the market neither you would get in or get out is the hardest part since this is accompanied with emotions which would make the decision even more harder.
Experience is indeed the learning steps to improve out yourself towards it because if you do just focus up on theories without having the actual trade of into the market
then it would be just pretty useless.

[Ryker1]

Day trading is highly profitable so it have more risks than short or mid term trading.Basically not much people got success while doing day trading for longer time so change your plans accordingly and don't try too hard to make profits when the market is not in the favour.Nice article though which miggt really helps for newbies who wanted to learn about cryptos and tools needed.

Well, I hate this day trading, indeed. It seems like you are very greedy of seeking profit, you did not know that this is very crucial that perhaps your money will wipe out quickly and you perhaps end up debt as well. These kinds of strategies demand using the leverage of borrowed money to make profits, what if you did not make it? Just like you have been hit with a double edge sword.
Indeed, the article was content was very useful but on my part, I don't like day trading. You can trade normally to avoid too much headache.

[Yamifoud]

The article is really helpful and this is very important to read before getting started. Why many traders suffered failure? It actually not because they don't have enough knowledge and skill but because of their greediness putting into the edge trying to catch all possible profit they want. It outplays their strategy and getting into a big mistake which supposedly it should not be happening.

Anyways, this is the life of a trader, sometimes we got a win, and sometimes also we lose. Things that can't be changed but rather to accept reality. One thing we have to change is never to rush.

[adamistraybar]

nice article but i was mostly a promo for your site, but still it was a good enough read to make it worth it

[Ulven]

The strategy adopted in daily deals varied from person to person, There are those who make acceptable profits daily due to their correct evaluation of patterns, And do not forget that there are many people who are always subject to losses due to their inability to correctly identify patterns.!!
It is a good idea to read various articles, including issues related to cryptocurrency trading, which will help develop the skill of entering into profitable trades in the long and short terms.!!!

[btc78]

Before trading, you would like to understand about trades and learn trading techniques I also usually trade crypto and you're right there are many traders who jump for day trading as they are available to form more profit in greed then they're more at a loss. Therefore first you would like to understand about crypto you've got to find out the techniques of trading whether it's adieu trading or futures trading the higher the talents the lower the danger.

Dont worry those Greed that jump into day trading because they hear about the huge profit they might
get is surely quitter by now,and some of them are blaming the market because of their own stupidity and greediness.
I have some friends that do the same and now they learn lessons and starts Holding and know what?They
have already jackpot buying last march 13 and now almost doubled their investments.
and along that they are not stopping there instead continue the Holding and waiting for the bull to come,
at least their effort is gaining now.

[bearexin]

(...)
There are so much to consider like risk management plan, stop loss, etc.

I agree with this. Risk management is very important in trading.
A newbie should also learn this part, like after they learned the basics of trading, like how to use the charts, some basic indicators, basic candlesticks of the chart, they must learn risk management part like placing a stop loss per trade or the risk: reward ration.

Agreed but risk management is something people learn from equity/bankroll management because as a trader you must understand that you are no going all-in with just one particular trade and that's how gamblers are separated from traders actually.

I think risk management is simply the ability to understand the negatives if a trades goes against you and what are the backups you have to dissolve the loss and take minimal effort to recover it, one way to do is stop loss and this works fine in crypto trading as you can just put stop loss for altcoins.

Coming back to day trading you don't have to worry much because you are going to buy and sell BTC in the same day and it won't be dropped by too much anyways so day trading doesn't need high level of risk management.

[tbterryboy]

The strategy adopted in daily deals varied from person to person, There are those who make acceptable profits daily due to their correct evaluation of patterns, And do not forget that there are many people who are always subject to losses due to their inability to correctly identify patterns.!!

To be very honest no one can actually predict the daily patterns no matter what they claim and how expert they believe they are, it all comes down to long term analysis and yes that is possible to be predicted by looking at the developments and events like halving.

It is a good idea to read various articles, including issues related to cryptocurrency trading, which will help develop the skill of entering into profitable trades in the long and short terms.!!!

No articles have ever helped me getting knowledge about how to predict daily market and yes I have seen a few signals groups but they are nothing but idiots sending over confident signals and expecting money in return.

I have a little suggestion for you if you don't mind please avoid using the excessive (!) marks in the replies, it makes even a decent reply look aggressive.

[Lanatsa]

Before trading, you would like to understand about trades and learn trading techniques I also usually trade crypto and you're right there are many traders who jump for day trading as they are available to form more profit in greed then they're more at a loss. Therefore first you would like to understand about crypto you've got to find out the techniques of trading whether it's adieu trading or futures trading the higher the talents the lower the danger.

Dont worry those Greed that jump into day trading because they hear about the huge profit they might
get is surely quitter by now,and some of them are blaming the market because of their own stupidity and greediness.
I have some friends that do the same and now they learn lessons and starts Holding and know what?They
have already jackpot buying last march 13 and now almost doubled their investments.
and along that they are not stopping there instead continue the Holding and waiting for the bull to come,
at least their effort is gaining now.

You wouldnt learn if you dont experience something disastrous when it comes to loss of money.Most of them quit but there are some who do withstand

and come back a little bit smarter.For hodling then you can earn but if you do want to have some sort of experience on dealing with the market with shorter trades

then you can but this is way more riskier but somewhat more fulfilling or rewarding when it comes to profit making aspects.

[daneal stev]

I have read this article and I consider that it is detailed and contains important information and it is very useful for everyone, especially for beginners and for this reason I translated it and participated in one of the local departments and frankly, the biggest reason for people losing within the trading field is due to their entry to this field without any experience or learning where their goal is The only thing is to earn money and get rich only

[Ridwan Fauzi]

I haven't heard about coygo tool for trading but at least I have to thank to you for this I'll watch more later. Most of my coin I often to trade is bitcoin and some altcoin which have a good fundamental factor like now ADA and vechain. The price movement is volatile so I can make a profit to buy and sell in the short term pariode.

Also, I never leave a trend line for every my day trade. I think that is more important instead of MA, bollinger band and etc because through trend line strategy we can know the support and resistence even the strong support and resistance which I think the strong support and resistence are good place for entry. When price broke (un or down) the strong support and resistence and you are entry in that level I bet you will get profit.

[Neconic]

Day trading is not easy at all. If you are planning to introduce technical analysis from FX markets, than you need to be very careful as crypto market does not follow the same rules as Forex. It is better to test your skills first on demo account.

[Naida_BR]

There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.

[nelson4lov]

There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.

This is true not just for trading alone but for any learnable skill. Theory is never enough. At the end of the day, you'll still need practice experiences because that's where you'll get hit my unexpected issues. Trading goes beyond what's in the trading textbooks. Just know candlesticks, indicators, chart patterns and you're an all-star trader? No. Market cycles are not always the same, it changes on regular basis. You learn more on the job than you do in a textbook.

[davinchi]

There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.

There are enough practice materials and demo accounts to sharpen your skills beyond theories. Still, I agree that most people do imagine themselves as a pro traders just by coming across few articles and youtube videos and then burning their fingers in day trading. You can get into crypto investments with some basic knowledge and can make 10x profits but in day-trading that is absolutely impossible.

Day trading requires strong analytical capability to catch the end points of trends; in day-trading catching short term trend is the main focus and due to that reason day-traders even miss the long term trend its possible huge profits as well. There are lots of simple and effective methods are available in crypto space to make good profits rather than struggling in the name of day-trading.

You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.

In my experience, trading is not working that way. You may learn a big lesson out of your one losing trade but you may forget that when you experience another losing trade in very next day itself. I mean there are uncountable possibilities to lose a trade in markets and you cannot remember all lessons and cannot make use of them in your new trades. You need to be technically sound to escape from such losing trades.

[cytpoway121]

To my understanding, day trading requires great skill and determination with a number of discipline. You must firstly outline your daily profit %, from 1-5%, then you can evaluate the number of trades to attain your daily % profit, is it gonna be 1% profit ler trade or 0.5% profit per trade or 5% profit at once?. This are issues you have to attend to before venturing into day trading

[pawanjain]

That's really a nice article and there were some points which I had fun reading. A nice set of tools and clear details of the basics of cryptocurrency trading.
One thing that I think was missing is the mistakes of day trading. You should have given a brief of the mistakes of day trading as well which would have helped users to avoid those mistakes.
I will definitely recommend this to my beginner friends who are new in the crypto market.

[palle11]

A lot without taking their profits at a good time.

You will not be told more of it when a profiting order turns out and revises to become a huge loss and finally blowing the trader's account off just because a trader decides to wait more for profit while price have already stretched to maximum already. I think what can also cause such delay to take profit is when an experienced trader doesn't know or have a means identifying resistance or support levels. Usually, price test those levels and can be redirected. Basically, greed kills a trader.

[perfect999]

I love the fact that you took your time to detail everything that a lot of people needs to know about cryptocurrency trading.
And another thing I like about the article you wrote is that you made it clear that majority of traders are not successful and trading is a way to start picking up some free money and becoming rich quick.

There are some newbies that will come in and they have not even stayed up to a month and they are already complaining that they are not making money. These people have not even taken any time to learn about trade.

[ashmodeus]

i guess on situation right now,days trading it seems not profitable, except u play on laverage trading or margin, i dont see any good chance on spot trading can make 3 or 5% profit,and also,since june,market moving so wildly, the best choice is holding or quick trading like scalping.

[FanEagle]

i guess on situation right now,days trading it seems not profitable, except u play on laverage trading or margin, i dont see any good chance on spot trading can make 3 or 5% profit,and also,since june,market moving so wildly, the best choice is holding or quick trading like scalping.

But, right now market is falling from $9320 and the current BTC price is $9234 which means solid more than $50 profits if you are set with 1 BTC capital. Still I agree with you that we cannot catch exact peak price of today and cannot wait until bottom of today; we need to buy and sell in between price levels which means for the capital of $9000, risking for $10 or $50 may not be the worthy ones as profits are lesser than 3% as you indicated. Even in this range bounded market, we are not getting enough market movements to ride on trend.

Always I hate day trading and I do rarely look for day trading opportunities; but due to current market conditions of range bound, I got lesser options which pushed me looking for day trading opportunities. I am just paper trading for last one month to find our how good my skills are for day trading but concluding still I must stick within long term holding. So, I work on other resources to save some big capital to buy more BTC at possible dips.

[ashmodeus]

So, I work on other resources to save some big capital to buy more BTC at possible dips.

yes , i also looking for it,and somehow, we still possible to under 8k range, based on what analyst say on many many TA .
i just thought it will be happen on june 26 when $930M in Bitcoin Options Expire on deribit futures , but well, i guess bear have no interest anymore with something like that,after BAKKT last year.

[bitgoldpanther1978]

Day trading is for everyone, but the sad things is not everyone called for it were majority of the traders always ended up
for nothing, in short, loss their coins. If you want to start, all will begin with ourselves then take invest on it depending on the
coins you think it will give profit to you, just simple as that.

[Shasha80]

Starting day trading we should be able to read price movements in the market, then choose exchanges with high trading volumes. And to win
we must be able to determine the right purchase price, because day trading must be able to generate profits per day. Therefore the risk of
day trading very large, without a good risk management our capital can certainly be exhausted. And the last day trading must use the stop-loss
feature, because we have to buy and sell in a short period of time.

[palle11]

There are so many guides on the internet in order to understand what is day trading.
However, theory is not always enough.
You have to see in practice and sometimes loosing money or making wrong decisions are necessary in order to master your trading strategy.

Yes trading is a lose Ir win game. I said game because you don't do trading like something to take your life for when you don't make profit on the day. You lose some and win too but doing a demo account is better to master your plan before the big one which is going in life with your money.

[FanEagle]

So, I work on other resources to save some big capital to buy more BTC at possible dips.

yes , i also looking for it,and somehow, we still possible to under 8k range, based on what analyst say on many many TA .
i just thought it will be happen on june 26 when $930M in Bitcoin Options Expire on deribit futures , but well, i guess bear have no interest anymore with something like that,after BAKKT last year.

This is the reason, to avoid any disappointment when you're looking for buying at dips, it will be always a good practice to buy for some 10% of your available capital at current market prices. Because, we cannot exactly predict what is going to happen, so that you must ensure not missing all available opportunities. When market will be moving up or down then you can go for buying another 10% from your available capital (and not from the initial capital).

This is not at all covered by any of day trading technique. Because it is all about long-term holding and it is a viable trading technique only when we are having long-term plans for holding. Once I tried to day trade bitcoin but I was unable to tackle against bitcoin's high volatility but current market seems a complete different one and it is highly suitable for day trading. But, I am still afraid to get into day trading because of the bad lessons and I have learned in the past .

[BitcoinTurk]

Before you start trading daily, you need to know the following;
 
- In order to be able to trade daily, very basic and technical analysis knowledge should be obtained.
- In order to be able to trade daily, screen monitoring should be done continuously.
- In order to be able to trade daily and earn money from daily trading, a significant amount of experience is required.
- In order to be able to trade daily successfully, there should not be very high earning targets.
 
At the end of my message, I want to remind my sentences again. In order to be able to trade and earn money successfully, you must have very good technical and basic analysis knowledge, and you must have a good level of experience.

[AakZaki]

~snip~but the sad things is not everyone called for it were majority of the traders always ended up
for nothing, in short, loss their coins. If you want to start, all will begin with ourselves then take invest on it depending on the
coins you think it will give profit to you, just simple as that.

Traders who always end up losing, with no results and losing their coins are novice traders who don't know about trading techniques, analysis and others.
Starting to trade without basic knowledge about trading will only waste your money for nothing, but if you have great luck, you might get results without trading knowledge.

But to become a trader who can get results, start with basic trading knowledge. What can and can't be done when trading. That will be helpful enough so that the words  "Always End Without Results"

[fullhdpixel]

Starting to trade without basic knowledge about trading will only waste your money for nothing, but if you have great luck, you might get results without trading knowledge.

If you start depending on your luck factor then you will get out of trading slowly over the time. Because, there cannot be any possibilities for being a crypto trader by depending on only luck things. You must develop required skills for crypto trading so that this trading will support you to gain profits and that gains could be up to the level for a high level of living. At the same time if you fail to make yourself skilled for trading then you may lose all your capital which may end up to the level of degrading your lifestyle.

But to become a trader who can get results, start with basic trading knowledge. What can and can't be done when trading.

Yeah, we can start trading with basic knowledge but we should risk only small capital in the beginning days so that we can learn about what are things should be avoided for better trading so that we can maximize profits when we are increasing capital amount accordingly. This is all about slow learning over the time along with real market experience.

[rexxarofmoknathal]

The article is quite nice and is very detailed/exhaustive but I think there's a lot of information you'd have to cover to get through everything but I think it might be a good starting point for novices to work out what to do with trading...

Without a solid strategy a lot of people seem to lose money more often than they gain and sometimes people end ip with a false positive (in gambling referred to as a "streak") too where they'll inevitably lose. A lot without taking their profits at a good time.

Do you know what? I was a little skeptical at first but once I started reading the article I found myself reach to the end of it. Now that I've read it I don't mind you pumping this article because it has good content and its informative. So much so that others might find useful. Good job!

[TitanGEL]

~snip~but the sad things is not everyone called for it were majority of the traders always ended up
for nothing, in short, loss their coins. If you want to start, all will begin with ourselves then take invest on it depending on the
coins you think it will give profit to you, just simple as that.

Traders who always end up losing, with no results and losing their coins are novice traders who don't know about trading techniques, analysis and others.
Starting to trade without basic knowledge about trading will only waste your money for nothing, but if you have great luck, you might get results without trading knowledge.

But to become a trader who can get results, start with basic trading knowledge. What can and can't be done when trading. That will be helpful enough so that the words  "Always End Without Results"

Luck is not what we should focus, we can get win through luck but for sure we can lose it easily if we will just rely on luck. In trading luck is a factor but what is important is the skills as a trader. We cannot become profitable and consistent in terms of earning money when we will just focus on luck. The thing is we should focus on how we will improve our skills as a trader for us to know different strategies that we can use to minimize our losses and maximize our gains.

[carlisle1]

I thought you all might appreciate this article

Cryptocurrency Day Trading: How to Get Started & How to Win

At some point or another most of us have probably thought about cryptocurrency day trading. The idea of actively making a profit every day certainly sounds appealing, but many people often jump in without doing enough research and end up getting burned. Luckily, if you want to day trade Bitcoin or other digital assets you can benefit from decades of people trading stocks and all of the experience and tools that have developed alongside them. Most of the concepts of trading stocks, and especially the FOREX market, can easily be applied to trading crypto and Bitcoin as well. Let’s take a look at what crypto day trading is, how to get started, and what tools we can use to gain an edge.


In this article we’ll be discussing the following topics:

• What is day trading?
• Is crypto day trading for me?
• What are some day trading strategies?
• Basic tools for day trading crypto
• Advanced tools for mastering crypto day trading
• How do I find which cryptocurrencies to trade?

Continue reading the full article here: https://www.coygo.app/blog/posts/cryptocurrency-day-trading-how-to-get-started-how-to-win/

Nice Blog and this is really helpful for incoming daytrader though i am not a fanatic of this area of profiteering because this is very  risky.

I have sets of friend that tried this couple of times but failure comes to them.

I will advice all the prospective trader to check your skills first before doing such because it is your money that will lose here not ours.

i guess on situation right now,days trading it seems not profitable, except u play on laverage trading or margin, i dont see any good chance on spot trading can make 3 or 5% profit,and also,since june,market moving so wildly, the best choice is holding or quick trading like scalping.

You are wrong because if you check the market you can see that the Ups and down is continuously happening and this is what traders need to make marginal profit.

[radjie]

sometimes daily trading is interesting but it requires courage and strong conviction to get profit and avoid loss. In the related article shown by Op, there is a way that I often do in daily trading, namely by exploiting the price difference called by Op (Arbitrage Crypto) where I always compare prices one by one for each exchange before making a sale, the aim is to can get a little higher profit, besides, don't forget to consider the transaction costs that must be incurred for each exchange because each exchange has a different transaction fee.

[Reatim]

I thought you all might appreciate this article

Cryptocurrency Day Trading: How to Get Started & How to Win

In this article we’ll be discussing the following topics:

• What is day trading?
• Is crypto day trading for me?
• What are some day trading strategies?
• Basic tools for day trading crypto
• Advanced tools for mastering crypto day trading
• How do I find which cryptocurrencies to trade?

Continue reading the full article here: https://www.coygo.app/blog/posts/cryptocurrency-day-trading-how-to-get-started-how-to-win/

Thanks for sharing but i think the Most appropriate question to be answered this is the Number 2 question and this is It.

Is crypto day trading for me?

Because i believe that Trading does not for everyone here.

So many wanna be traders are now out of crypto or converted in Holding because they cannot stand losing and losing for trading daily.

Better to decide after trying couple of times if you wanna stay?or wanna quit to save your money from losing.

[Spaffin]

sometimes daily trading is interesting but it requires courage and strong conviction to get profit and avoid loss. In the related article shown by Op, there is a way that I often do in daily trading, namely by exploiting the price difference called by Op (Arbitrage Crypto) where I always compare prices one by one for each exchange before making a sale, the aim is to can get a little higher profit, besides, don't forget to consider the transaction costs that must be incurred for each exchange because each exchange has a different transaction fee.

In fact, you said everything correctly, but for me today the fact of a profitable transaction plays the most important role. if someone is worried about the amount of commissions and so on, then for this you can choose a more suitable cryptocurrency exchange for your activities, as in my case, the choice fell on binance. In addition, I also constantly lack the courage to place the correct order and it seems that all these obstacles in front of a novice trader arise from a lack of experience.

[chip1994]

A great and constructive article, but it still lacks a little about capital management (one of the most important skills in trading).
I have seen a lot of people who are knowledgeable about trading but they still trade losses as usual. I realize that knowledge of capital management is very important and this article lacks lessons on capital management. Can you provide a few more good articles on capital management? thank you very much.