Tips and tricks for day trading

[Oshosondy]

The best tip for someone like you is to stay away from day trading, day trading is for experts only

But someone can not just become expert in one day, if you are discouraging people not to trade, then no one will be an expert.

now you may engage on it if you want but I guarantee you that you will lose your money

New traders do lose, then best to advice them to use a very small amount which they can willingly offer to lose, starting to trade with $50 is not bad while trading with $10 in each trade

so I recommend that you begin by just holding your coins and then after some time you can lower the time frame in which you make your trades.

Tradimg can start anytime, it depends on the approach used.

[Wind_FURY]

The best tip for someone like you is to stay away from day trading, day trading is for experts only

But someone can not just become expert in one day, if you are discouraging people not to trade, then no one will be an expert.

now you may engage on it if you want but I guarantee you that you will lose your money

New traders do lose, then best to advice them to use a very small amount which they can willingly offer to lose, starting to trade with $50 is not bad while trading with $10 in each trade

so I recommend that you begin by just holding your coins and then after some time you can lower the time frame in which you make your trades.

Tradimg can start anytime, it depends on the approach used.

That's a waste of time, and your money. If OP wants to treat trading like gambling when he's bored, then OK. Deposit 50 and lose all of it like he played dice. But if OP wants to make some extra profit, best way for us plebs is to save part of our monthly salary and HODL them in Bitcoin.

My advice will always be, "Spend less than your monthly salary, budget your money, pay your expenses, then HODL the rest in Bitcoin".

[Oshosondy]

That's a waste of time, and your money. If OP wants to treat trading like gambling when he's bored, then OK. Deposit 50 and lose all of it like he played dice. But if OP wants to make some extra profit, best way for us plebs is to save part of our monthly salary and HODL them in Bitcoin.

My advice will always be, "Spend less than your monthly salary, budget your money, pay your expenses, then HODL the rest in Bitcoin".

From your advice, it is clear that you are a holder, that is nice and best because holders do not lose like traders. But your advice seem more like you do not even want him to trade at all, learning trading can start from anytime. Anytime it starts, new traders will lose, that is normal, but for learning and can worth it, that is why it is good to use very small amount of money to trade that the person can afford to lose. This is how it will continue and the trader will develop do and don't that will later help him and later consider to further to trade or stop after practising scalping, day trading and swing trading, or if he gaining in one than other, he can decide to choose the one that he is making profit from which could be swing trading.

[yayayo]

• Could you explain to me a good strategy?

• Which websites are the best for analysis?

• Who should I follow on Twitter or Reddit to read about their analysis and predictions?

Strategy will depends on your analysis you can't make any strategy or you can't follow other strategy if you don't know what was the status of the market or what was that strategy can be used. Second, no website can offer best analysis you should be the one who will analyze the market and lastly, there are some couple of guys in Twitter which gives their insight for free but most of the time they have premium subscription.

ya.ya.yo!

[el kaka22]

Simplest trick that I could teach anyone is not to give up on coins if they are good name ones. I mean sure there are some that will go to zero and will never recover but you shouldn't have invested into them in the first place. If you invested into BTC lets say since it is the biggest, and it has been low for a quite long time, do not give up and sell and hope to rebuy at a lower price.

What you should do instead is invest only a portion of your money into btc, and if it goes down then you could buy some more. This way, even if you are wrong when trading at the very least you could recover quickly by dropping your averages and make profit when it goes up.

[joeperry]

I followed this user in Twitter since I like his analysis and he is giving away free PDF including how to trade: https://twitter.com/emperorbtc?lang=en you can also take a look at the Tradingview's idea: https://www.tradingview.com/ideas/ I get a lot of good ideas there and also Tradingview is a good website for analysis.

[lombok]

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.
I want to understand strategies, websites, people to follow for doing shot term investments.

• Could you explain to me a good strategy?

Day trade is very difficult to do. I'm not sure if we will make a profit if we do day trades, because the market sometimes doesn't go the way we want. In my opinion the best strategy for short term trading is scalping.
It is better to scalp with discipline, this is better than day trading.

• Which websites are the best for analysis?

1. Tradingview.
2. Coinigy.


Learn about TA and FA, often do analysis using TA and FA and then apply it to real trading, if you are afraid of losing funds, use a trading simulator first as a place to learn before going directly.

[famososMuertos]

Trading is like any other financial activity and consequently like anything you want to dedicate yourself to, the point here is that it is so easy to access and has no investment limits that it seems to be open to everyone.

Really no matter what advice you are given, at the end of the day is summed up in your individual availability of money, time and your ability to adapt to a new activity.

[Xampeuu]

Simplest trick that I could teach anyone is not to give up on coins if they are good name ones. I mean sure there are some that will go to zero and will never recover but you shouldn't have invested into them in the first place. If you invested into BTC lets say since it is the biggest, and it has been low for a quite long time, do not give up and sell and hope to rebuy at a lower price.

What you should do instead is invest only a portion of your money into btc, and if it goes down then you could buy some more. This way, even if you are wrong when trading at the very least you could recover quickly by dropping your averages and make profit when it goes up.

right, this is the strategy I've done at least until now, which doesn't spend our capital in one price, that way we can buy it back at the next support, and if it goes down again then we still have capital. but this method is not for short term trading or day trading, but in this way I can at least survive and make a profit, although sometimes I have to wait longer to get the average price and make a profit because I rarely use cutloss

[palle11]

You are not getting this right. If you seeing trading as the same thing like gambling that means you will be getting it wrong and you will be doing wrong trading. Trading can be distinguished with gambling because you have charts that you can use for trading but gambling is not like that, gambling is all about alot of luck.

Do you think "charts" is enough to beat the market?
There are so many course about technical analysis and chart patterns, I've learn and understand it, but sometimes it doesn't work for the market since it's go wrong from the analysis. As the discussion is day trading, you're supposed to made profit every day but the fact only 1.6% day traders are actually profiting.

Chart isn't really what it takes to trade but so many other factors contribute into it like emotions, use of leverage and money management. I also agree with you that very low percentage of traders actually have made profit from trade.

I'm surprised you're promoting gambling site but you said gambling is full of luck, play poker or sportsbook.

Lol
Well the reason is that trading is done with chart analysis and gambling doesn't really have that as major factor. If you want to make money in gambling, you may not know much on what you are betting on or knowledge on it but you have to use chart for trading if you are to make profit with trading.

[iv4n]

Really no matter what advice you are given, at the end of the day is summed up in your individual availability of money, time and your ability to adapt to a new activity.

It all comes down to the individual, who and how much money and time has, then the character and ability to learn something new! It is different for everyone, so what is true for one does not necessarily mean that it's the same for others!
The right advice for beginners is to try to find out as much as they can about trading, how to choose the right pair, how to keep track of changes and read charts, etc! After that, they should jump in and try how it works in reality!
People should never forget that there are no shortcuts to gaining wealth, there is no shortcut to quick profit!

[stepwilli]

I do not think that day trading is something you can learn just by following channels or following what they say, it is something that makes you money, and there is no easy and guaranteed way to make money so you must learn the basics of trading, learn how to control your feelings, control how you evaluate risks and after you take a while enough you will have a "sense of trading"
So there is no trick but rather a reward for all the traders who have spent some time learning and developing themselves.
Once you gain enough experience, you can start such a risky investment and then you may make profits.
Trying to imitate others is probably the easiest way to lose your money.

Channels or following someone is only good to get tips, predictions and analysis but they don't cover the whole thing about learning how to day trade. For that matter, you will need a course for it or learn it on some website, like this forum. There are lots of topics here about day trading.

If it's not discussed as a whole, he will need to gather all the different topics that he sees as long as it's related to day trading as that can help him. It's important to have a sense of trading because you will know if someone is lying or not when he gave tips. That is why it's important that one must learn from the start on its own so that he won't be fooled easily.

[maydna]

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.
I want to understand strategies, websites, people to follow for doing shot term investments.

• Could you explain to me a good strategy?

• Which websites are the best for analysis?

• Who should I follow on Twitter or Reddit to read about their analysis and predictions?

Thank you for your time,
Samitto.

Every trader has their own strategy and can't be used for the other traders, so I am afraid that it will not works well for you. You need to learn by yourself to find the right strategy that can work for you. I do not use websites for analysis, but I use Tradingviews to analyze the charts on the market so you can try to learn how to use Tradingviews. You don't have to follow anyone on social media because we don't know if they really have analysis skills or just share from the other analysis. If you can learn about trading, you will have skills which can help you to analyze the market.

[hyudien]

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.

To be honest for a beginner, it can be very difficult to control day trading. even if you use the available day trading strategies. I don't mean to doubt your skills, but in crypto trading where every day is a move with rapid volatility, it's possible for beginners to just buy on the downs and hold. In addition, it takes a long time to learn a day trading strategy. At least you really understand 2 to 3 basic methods. However, the mentality of day trading will be more psychologically draining which will not be balanced for a beginner.

[Hamphser]

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.

To be honest for a beginner, it can be very difficult to control day trading. even if you use the available day trading strategies. I don't mean to doubt your skills, but in crypto trading where every day is a move with rapid volatility, it's possible for beginners to just buy on the downs and hold. In addition, it takes a long time to learn a day trading strategy. At least you really understand 2 to 3 basic methods. However, the mentality of day trading will be more psychologically draining which will not be balanced for a beginner.

Not only to learn 2-3 basic methods but you would really need that  experience which is mainly needed to be a day trader and one of it is emotion handling and this is aside on technical knowledge aspect on which

it should really be that on default thing and thats why when noobs tends to step their foot on day trade then its 101% fail because this isnt something whose new to trading will able to bare it out.

It would be needing that sufficient knowledge and skills for you to sustain since fighting volatility at this market isnt something that you could handle it well.

[KingsDen]

• Could you explain to me a good strategy?

Welcome to trading samitto.
According to you, you are seeking for a good strategy. It is important for you to understand that there are thousands of good strategies available,  but no matter how good the strategies are, they cannot fit into every condition. I expected you to ask for a working strategy, yet many strategies work, but under certain conditions. A strategy that worked for me might not work for you. So, strategies are relative.
My best advice is for you to study and discover your own strategy that works for you according to your management and discipline. The most trusted strategy can fail, so instead of looking for one static strategy, look for dynamic principle strategies.

[darewaller]

You are free to follow anyone on Twitter, there are lots of influencers that you are going to find on Twitter to follow and they constantly tweet about Bitcoin and other cryptocurrencies. But, I am not really going to recommend any one of them to you, if you think that you want to follow any one of them you can go ahead and look for them and follow them.

But, I would advise you to not just rely on the information you are getting from the so called Twitter influencers, it's best that you try to spread things out, there are lots of people who tweet about cryptocurrency, and try to check out these tweets that are coming from other people on the platforms. Don’t just limit yourself to taking what influencers are saying, join the conversation and seek for other Peoples opinion.

[SaveOurSea]

You are free to follow anyone on Twitter, there are lots of influencers that you are going to find on Twitter to follow and they constantly tweet about Bitcoin and other cryptocurrencies. But, I am not really going to recommend any one of them to you, if you think that you want to follow any one of them you can go ahead and look for them and follow them.

But, I would advise you to not just rely on the information you are getting from the so called Twitter influencers, it's best that you try to spread things out, there are lots of people who tweet about cryptocurrency, and try to check out these tweets that are coming from other people on the platforms. Don’t just limit yourself to taking what influencers are saying, join the conversation and seek for other Peoples opinion.

Look for as much information as possible from various sources and one of them is Twitter,
before following an influencer on Twitter, it's better to do some research first whether the influencer is really trusted or not,
what is clear is don't stick to one source to get information about crypto other than that like you said we can discuss by joining the forum or whatever

[Kelvinid]

Hi everyone,
I'm a newbie and I would love to receive from you all of your tips and suggestions about doing day trading.
I want to understand strategies, websites, people to follow for doing shot term investments.

• Could you explain to me a good strategy?

No strategy seems too good and it really works in all situations as it also depends on how you interact in the market condition.

• Which websites are the best for analysis?

I suggest checking this https://stormgain.com/blog/how-do-technical-analysis-cryptocurrency. But I encourage you to make your own rather than relying on others idea.

• Who should I follow on Twitter or Reddit to read about their analysis and predictions?

Thank you for your time,
Samitto.

Don't ever try these Twitter and Reddit influencers to make you fool and give you losses. I insist to work on your trader harder. Just imagine that what they say can't and possibly not even to happen you. Don't use their ideas but instead, make your mind works if we want to succeed.

[justdimin]

It all comes down to the individual, who and how much money and time has, then the character and ability to learn something new! It is different for everyone, so what is true for one does not necessarily mean that it's the same for others!
The right advice for beginners is to try to find out as much as they can about trading, how to choose the right pair, how to keep track of changes and read charts, etc! After that, they should jump in and try how it works in reality!
People should never forget that there are no shortcuts to gaining wealth, there is no shortcut to quick profit!

Right, before anyone would be successful in trading they have to calm down and learn it. And also there isn’t anything as the best strategy, I think every strategy works and it all comes down to what you are comfortable or OK working with.

There are people who might feel that the best thing for them is to be taking short gains within short periods on a daily, such people can decide to go for scalping strategy, while those who feel that it is best for them to go on a long term because that would give them a better chance of gaining profit might decide to go for swing trading. So, there are different strategies and they all work, it’s just for you to know what would work best and stick with that.