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/

[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.