TOPIC - LOCKED

[ashmodeus]

well , for now , i guess forget day trading, just hold many many altcoin as u can, we on altseason mate, there is no need TA FA etc anymore, just look at to many many shitcoin who has dead on last year or even years earlier has comeback with no reason, we're really back to 2017 era, just follow the trend and  as long we not too greedy , we safe.

[RealMalatesta]

just hold many many altcoin as u can, we on altseason mate, there is no need TA FA etc anymore, just look at to many many shitcoin who has dead on last year or even years earlier has comeback with no reason, we're really back to 2017 era, just follow the trend and  as long we not too greedy , we safe.

I agree that we do not need to focus on day trading as per the current trend of crypto markets. Not just altcoins, bitcoin is also all set to storm in coming days hence being prepared will help anyone to profit out of crypto markets significantly. Day trading is something, most crypto traders are hating always for some reasons. So, I too never consider it even if any proven strategy available.

Day trading might be profitable for the traders who are able to watch market at least for continuous 10 hours and for all others just holding will do the job.

[MCobian]

well , for now , i guess forget day trading, just hold many many altcoin as u can, we on altseason mate, there is no need TA FA etc anymore, just look at to many many shitcoin who has dead on last year or even years earlier has comeback with no reason, we're really back to 2017 era, just follow the trend and  as long we not too greedy , we safe.

I admit that now HODL coins are indeed better, which we consider profitable compared to day trading which is much more risky.
But not all altcoins are feasible in HODL, I think TA and FA really need it. Because there are shitcoins that just don't belong in HODL.
So I prefer to choose investing in high volume coins, besides being safe for HODL, high volume coins are easier to sell. But altcoins
don't need to hold too long, because if we are too greedy and postpone selling our altcoins even though they are already profitable.
Then we can miss the opportunity to make a big profit.

[leea-1334]

Well, if these are your strategies then, --it is good for you but I don't know if these are enough strategies that I have known. Each trader had their own strategies to follow and not only even by that, but they also have a trading plan so that they stick to it whatever will happen. However, I agree with the below comment that there is no accurate strategy in trading, these are only your tool that you can provide a near-to-close forecast of giving a prediction of the price, but it does not mean you always win on your strategies. Just a quick, since you are talking about TA patterns, it would also be better if you will include the FA strategy.

Of course not. Every strategy has its shelf life. We all learned that from forex and from other types of trading. Crypto introduced extreme volatility which made it super attractive for 100x leverage gains from tiny moves but on the other hand,,, it also caused a lot more people to lose money quickly. Other than for reasons of greed, it was mainly because of the strategies they stuck to. You cannot keep using the same strat otherwise everybody makes money and we all know. For someone to win, someone else needs to lose;)

[beerlover]

I prefer to choose investing in high volume coins, besides being safe for HODL, high volume coins are easier to sell.

Choosing your coins based on volume must be a practical approach to make sure that we are getting into right coin. Honestly, I'm not seeing big volume is happening in most of the altcoins still they are getting pumped more frequently and at the same time reputed coins are always rank top with high volume in last 24hrs criteria. Little confusing yet effective as per filtering out strategy.

altcoins don't need to hold too long, because if we are too greedy and postpone selling our altcoins even though they are already profitable.

Some altcoins might be profitable when you are opting for holding very long period but you need to be lucky enough like how dogecoin kind of coins are doing lately like it was assumed dead at some point of time but suddenly got bumped to the moon. So, anything may happen.

[taufik123]

Some altcoins might be profitable when you are opting for holding very long period but you need to be lucky enough like how dogecoin kind of coins are doing lately like it was assumed dead at some point of time but suddenly got bumped to the moon. So, anything may happen.

anything can happen in crypto and I believe that. Dogecoin was influenced by Elon Mask. Doge's life is on Elon Musk's Tweet.
several times I have benefited greatly from Doge because Elons kept talking about Doge.

Nobody expected Dogecoin to be able to reach the high prices it is today. Dogecoin became a successful Coin meme that shocked the whole world. More and more people are getting into Dogecoin.

With high liquidity and fast movement Doge can also be chosen for day trading or used as long-term trading.

[bitgolden]

With high liquidity and fast movement Doge can also be chosen for day trading or used as long-term trading.

I guess both will be highly dangerous with respect to the current scenario of dogecoins. Moreover I never recommend any coin for day trading regardless of it will be backed buy any billionaires or just by its actual potential. Just look into today's markets of dogecoins, it seems both bulls and bears were got trapped because there is no clear trend right now even I tried with my usual technical analysis.

At the same time, I'm not ready to invest into dogecoins with the long-term plans because anything may happen like those billionaires may not come back to dogecoins forever; anything will be possible hence I am just staying away.

[longyenthanh]

I am one the best loser when it comes to day trading. I ended up losing huge money in this gambling, though there are many who are in profit by doing day trading. It's like playing with wild fire, you need to be expert in handling the fire or else it will take care of you.

[Viscore]

I am one the best loser when it comes to day trading. I ended up losing huge money in this gambling, though there are many who are in profit by doing day trading. It's like playing with wild fire, you need to be expert in handling the fire or else it will take care of you.

You don't need to be an expert, only you need is to be strategically wise and be committed to what do. Well, of course, we can't simply ignore some instances that even we give an effort and trying to catch all the strategies but the result still at loss, then this means trading is not the right place for us.
Yeah, a lot of people tried but unfortunately, not all of them succeed. If we find no chance, then we don't have to force ourselves instead. 

[Hypnosis00]

Every trader has different trading techniques. But the goal is the same, looking for profit.

Absolutely, yes!
Profit is what we aim for and that is why we need to find strategies that could help us to achieve our target. However, it wasn't an easy way, it really needs effort and hard work to find those things and more experience. And besides, we can't even escape the time that we lose our capital. To say that the life of a trader is not easy that is why only a few people had succeeded but many we're gone at loss. And that be so hard if we don't have a concrete plan to follow. 

[Mpamaegbu]

~

I remember watching tutorials back then in Youtube when I was still into my first days in day trading. I was told to look into some indicators like Bollinger band and I followed what was in the tutorial. Turned out to be loss in the end because the trader in the video bought ADA but ADA that time I bought aren't worth.
It is just up to market's condition sometimes. Indicators are just there to help, but not to make your decisions.

No indicator stands alone in a trade. There's always a kind of combination of them to know where the market is "likely" headed to. The trader who told you about BB must have used it in combination with another indicator(s) but left out mentioning it to you. I use BB also. But it isn't for trade entry or exit. I use it to kind of chain the candles so they look organized within the chart. Even as someone who relies on "leading" indicators of lines like pivots points and trendlines to guage PA, I still look out for support and resistance on combination. So, I believe other traders do the combination too whether they use lagging or leading indicators.

[AakZaki]

Your strategy is somehow my strategy too if ever I want to day trade. I'll choose those that have lost a lot in terms of percentage during the same time frame for a day or week.

Day trading is perfect for those who want to get quicker and definite profits instead of having to hold back for a few days.

Yes, those who don't want to wait and instead they're wanting to get some quick profits.

Day trading gives us real-time results and our psychology is not too played, because every profit will be obtained every day. close orders every day. I usually have a minimum target for day trading.
Day trading also needs to be adjusted with coins that do support it. Doing the analysis first is very important so as not to get stuck on slow moving coins.

[ethereumhunter]

I think the crypto day trading strategy we must have is knowing when we will close the trade because many traders forget to close their trade when they see the profit become bigger. You can enter the market anytime, whether when the price starts to rally, sideways, or at a downtrend, but you will doubt to close the trade. You can analyze using many indicators, using TA and FA, but you can greed anytime and do not want to close the trade as soon you reach your target sell price. So knowing when you must close trading is the key to better trading.

[Zilon]

Having a strategy that gives you proper signal on the direction of the trend would keep you profit margin more realistic and consistent. Maintaining a simple and easy to interpret chat will make your analysis accurate and in time.

Sticking to a strategy that delivers most of the time is most preferable. Market will always play with our emotions no matter how good you become. But if you analysis is right stick to your trade and always adopt risk management such as applying stoploss so has to cut down the losses

[tygeade]

I am one the best loser when it comes to day trading. I ended up losing huge money in this gambling, though there are many who are in profit by doing day trading.

Hopefully you're not the only one who had bitter experience with daytrading. I am sure there are at least 90% of this community might having same experience if they had tried daytrading. The only chance for the people who could get chances to escape from the dangers of their trading must be, they probably never tried for day trading in crypto.

many traders forget to close their trade when they see the profit become bigger.

You refer greedy traders? I guess if you're greedy while trading then you cannot make profits even in long-term trading so there cannot be an exception in day trading.

[ethereumhunter]

many traders forget to close their trade when they see the profit become bigger.

You refer greedy traders? I guess if you're greedy while trading then you cannot make profits even in long-term trading so there cannot be an exception in day trading.

Yes, we both know that happens to greedy traders and sometimes, we are those greedy traders. That will not works if we can not handle our greed and we only miss that profit many times without we can make it if we do not realize that we should take profit when we can. If you're greedy to become bigger, you will not make a profit in trading no matter what strategies you made before.

[wiss19]

If you're greedy to become bigger, you will not make a profit in trading no matter what strategies you made before.

At the same time, I'm not seeing becoming greedy is not that harmful when you're into long-term holding/trading. Being greedy is definitely harmful for day trading but while people are adjusting target for our holding, most people are profitable along with their greediness. Probably it seems being greedy in long-term holding is good thing.

I was also too greedy while day trading but I slowly controlled my habit of getting into day trading as these days I am focusing only long-term holding.

[ethereumhunter]

If you're greedy to become bigger, you will not make a profit in trading no matter what strategies you made before.

At the same time, I'm not seeing becoming greedy is not that harmful when you're into long-term holding/trading. Being greedy is definitely harmful for day trading but while people are adjusting target for our holding, most people are profitable along with their greediness. Probably it seems being greedy in long-term holding is good thing.

I was also too greedy while day trading but I slowly controlled my habit of getting into day trading as these days I am focusing only long-term holding.

We are greed when we see the profit become big day by day to make us want bigger profit and not do something with the coin. Being greedy in the long term is also dangerous because your emotion wants to make a bigger profit and still hold the coin.

I think you need to prevent greed in the long term because you will not take your profit but still hold the coin without knowing when you should sell it. If so, how you will take the profit if you want a bigger profit.

[SquallLeonhart]

Sticking to a strategy that delivers most of the time is most preferable. Market will always play with our emotions no matter how good you become. But if you analysis is right stick to your trade and always adopt risk management such as applying stoploss so has to cut down the losses

Yeah, day-trading is known for testing our emotions hence strong strategy is always needed to stay within our strategy. I guess it would be too difficult to develop a strategy for day-trading particularly so that that strategy will get us profits across all kind of market conditions. We are all aware of how frequently bitcoin market goes ups and down even in 12 hours or 24 hours. So, if we are not having strategy then we may not protect our capital.

I am just using RSI based strategy for my day trading. I feel it is too hard to explain how I am customizing it for my needs. Still, if I get an entry then definitely I will book profits but it may give me signal once or twice in a week of time.

[gabbie2010]

Sticking to a strategy that delivers most of the time is most preferable. Market will always play with our emotions no matter how good you become. But if you analysis is right stick to your trade and always adopt risk management such as applying stoploss so has to cut down the losses

Yeah, day-trading is known for testing our emotions hence strong strategy is always needed to stay within our strategy. I guess it would be too difficult to develop a strategy for day-trading particularly so that that strategy will get us profits across all kind of market conditions. We are all aware of how frequently bitcoin market goes ups and down even in 12 hours or 24 hours. So, if we are not having strategy then we may not protect our capital.

I am just using RSI based strategy for my day trading. I feel it is too hard to explain how I am customizing it for my needs. Still, if I get an entry then definitely I will book profits but it may give me signal once or twice in a week of time.

My own day trading strategy is more of analysis of the previous day candlestick pattern to give me a clue of the direction of the new day candlestick coupled with RSI to indicate oversold and overbought areas, the signals doesn't occur quite often but the few ones are very effective however  I don't rely on too much indicators because of confusion and conflict coupled with their lagging features always result to losses