Tips and tricks for day trading

[qwertyup23]

This will not be the behavior of a trade that wants to succeed. It needs passion and a sort of dedication. Pursuing a dream is not easy, time, effort, and we never have to feel tired or else, we only just fail. What I am trying to say is that we have to be strong and positive. We have to neglect/ignore negative things around us as this will be the reason for our failure.

- keep moving forward
- focus on the thing we need to accomplish
- must wear positivity in mind

He only explains what is like to become a day trader. We all want to be successful in trading but if we are starting we can't avoid to experience those things but later on we can adapt to it or we can get used to it. It's not possible to not feel tired because we are only a human.

If ever we got tired, we should take a rest because it is an essential thing and it makes you recharge so that you can do better by the time you get back in trading. For the negativities, we are always surrounded by that but like you said we can just ignore it as that can't contribute anything good in your career. What we need is a positive mind for us to keep going.

Just a quick word, I've read an article before explaining that 97% of beginner day traders lose their money on their first experience and the remaining 3% earn only as much as a bank teller. This fact shows on how much risk is involved in day trading, though it can also be extremely rewarding if you exercise your methods/techniques well.

The essence of day trading focuses on experience. If you are a beginner with little-to-no experience, then I highly recommend trading relatively small amounts of resources in order to get an overview and feel on it.

[24Kt]

This will not be the behavior of a trade that wants to succeed. It needs passion and a sort of dedication. Pursuing a dream is not easy, time, effort, and we never have to feel tired or else, we only just fail. What I am trying to say is that we have to be strong and positive. We have to neglect/ignore negative things around us as this will be the reason for our failure.

- keep moving forward
- focus on the thing we need to accomplish
- must wear positivity in mind

He only explains what is like to become a day trader. We all want to be successful in trading but if we are starting we can't avoid to experience those things but later on we can adapt to it or we can get used to it. It's not possible to not feel tired because we are only a human.

If ever we got tired, we should take a rest because it is an essential thing and it makes you recharge so that you can do better by the time you get back in trading. For the negativities, we are always surrounded by that but like you said we can just ignore it as that can't contribute anything good in your career. What we need is a positive mind for us to keep going.

Just a quick word, I've read an article before explaining that 97% of beginner day traders lose their money on their first experience and the remaining 3% earn only as much as a bank teller. This fact shows on how much risk is involved in day trading, though it can also be extremely rewarding if you exercise your methods/techniques well.

The essence of day trading focuses on experience. If you are a beginner with little-to-no experience, then I highly recommend trading relatively small amounts of resources in order to get an overview and feel on it.

If you do really want to traverse this path, of becoming a day trader, you will indeed submit to the fact that you do need to surpass the beginner stage before you will acquire some skills and tips on how to improve your trading. This would take time and if you are not patient about it, it means, this market is not for you. Patience is also one virtue you need in this market. Sometimes it would take years before you realize you are doing something wrong with your strategy. But if you won't give up, that means, you have hope on achieving your goals for this endeavor.

[Wind_FURY]

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.

OK, then you, as a pleb like me, may have "traded" a few coins, and may have made some profit from them. But do you really believe that you would win like the top 10% of traders for many years? Maybe I am wrong, and that you would "make it" as a trader, but 90% of the time, you won't because there is always a real trader who is smarter and hungrier than you. 90% of the time, it would just be wasting your Bitcoin. Don't give it away so easily.

[Silberman]

There are several strategies in day trading and you can choose them according to your plan in the future and also convenience. To do day trading is a bit tiring because our focus will be divided and we also have to move quickly to make sure we get the right moment in a short time, even a matter of minutes. it will be a little troublesome for beginners but if indeed you are interested in trying it then that's good.

This will not be the behavior of a trade that wants to succeed. It needs passion and a sort of dedication. Pursuing a dream is not easy, time, effort, and we never have to feel tired or else, we only just fail. What I am trying to say is that we have to be strong and positive. We have to neglect/ignore negative things around us as this will be the reason for our failure.

- keep moving forward
- focus on the thing we need to accomplish
- must wear positivity in mind

This is an important point that is almost never brought up, when it comes to other professions people talk about how much they liked it or the burning passion they had for an activity similar to it so they choose that career path, and yet when it comes to trading almost everyone always say they are here for the money and nothing else, and while that is not wrong it is obvious such people are at a huge disadvantage against those that actually like trading, as those people will dedicate way more time to refine their strategies and will have greater chances of becoming successful in this market.

[ReiMomo]

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

[Wind_FURY]

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Or just HODL. Bitcoin is no mere financial hedge. It's censorship-resistant, self-sovereign hard money that I believe will be very useful as a hedge against the cabal behind the Federal Reserve. Everyone who wants the freedom to transact will definitely need Bitcoin under a CBDC system.



I am also confident that the CBDC system WILL make Bitcoin more valuable, not only for the individual, but also for institutions and governments as well.

[Ararbermas]

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.

Just start on basics mate, if you really want to learn more about trading. And when it comes choosing people to follow, i suggest make research in youtube and ignore those influencer whose spreading click bait.  Try " joel on crypto" because he is legit.

• Could you explain to me a good strategy?

There's a lot of good strategies to be honest, for example scalping, patterns, swing and so on.

If you want to know which is more effective and can give you good win rate, try to learn it by back testing or create demo account instead to practice each strategy.

Hi everyone

• Which websites are the best for analysis?

Trading view is always the best platform to analyse the market because all the most important tools are already in it.  

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

Thank you for your time,
Samitto.

yes, that's a good idea because you can get some information as well how they analyse the market and etc..

[tygeade]

There are several strategies in day trading and you can choose them according to your plan in the future and also convenience. To do day trading is a bit tiring because our focus will be divided and we also have to move quickly to make sure we get the right moment in a short time, even a matter of minutes. it will be a little troublesome for beginners but if indeed you are interested in trying it then that's good.

This will not be the behavior of a trade that wants to succeed. It needs passion and a sort of dedication. Pursuing a dream is not easy, time, effort, and we never have to feel tired or else, we only just fail. What I am trying to say is that we have to be strong and positive. We have to neglect/ignore negative things around us as this will be the reason for our failure.

- keep moving forward
- focus on the thing we need to accomplish
- must wear positivity in mind

The passion part is quite important. If you do not really "want" to trade, if the only reason you want to do this is to get rich right away and get out. Then you will only focus on how to make money part and you will fail. The real successful traders will always end up doing the best they could do in the trading world because they love doing it, not just for the money.

Of course the money part is very important but that doesn't mean that their only aim would be getting rich and stopping. Look at all those super rich traders, they did not stop when they got rich, maybe just a few. This means you need to learn and love doing this to become a good one.

[palle11]

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it.

[jossiel]

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

There's a higher chance that you may end up badly with day trading. But if someone is good to it then that's good but many seems to be not yet still trying hard.

Just do the typical way of trading and I agree, it could be weekly, monthly or longer until you make a profit. You don't have to be that much active and you can be an investor that makes profit on the times that you have to.

Well, that's what we think but the others don't think that they're good for long term so they choose to be how they can be effective in day trading.

[adzino]

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.

Since you are a newbie, I would suggest you to learn more about crypto currencies and the trading risks associated with it.

1. Google and start learning about the strategies. But remember strategies never gives you guaranteed profit.

2. Like others suggested, trading view is good. You can also try cryptowatch which is fully crypto oriented.

3. Don't follow anyone on reddit or twitter for analysis or predictions. Most of them are paid to shill for different coins. Do your own research.


Lastly, invest only what you can afford to lose.

[Wind_FURY]

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it.

Stop-losses should truly be part of a pleb's strategy to minimize loss, BUT the best traders also know that plebs like us have learned to use the stop-loss. The best traders are using a counter-strategy for it called, Stop-loss Hunting. Next time, if you experience being liquidated, or your position closed because a stop-loss was activated before a big surge causing you to miss the trade, then you have just been a victim of the stop-loss hunt.

[bitgolden]

This is an important point that is almost never brought up, when it comes to other professions people talk about how much they liked it or the burning passion they had for an activity similar to it so they choose that career path, and yet when it comes to trading almost everyone always say they are here for the money and nothing else, and while that is not wrong it is obvious such people are at a huge disadvantage against those that actually like trading, as those people will dedicate way more time to refine their strategies and will have greater chances of becoming successful in this market.

This is the main topic here, people do not see it as a job, they see it as a way to get rich. You do not become a junior copywriter so you could be rich, you do not become a painter so you could be rich. It would be great if your life takes you to wealth of course, who would say no to that but people work at jobs because they need the salary and that salary is most of the time not big at all.

Instead, they go to trading and hope that their few hundred or few thousand dollars could become hundreds of thousands of dollars where they could get super rich. I am sorry but that won't happen, this is a job just like any other job in the world and you get what you are capable of. So, just getting whatever tips and tricks from web or from your mentor or friend who is into trading for years, may not work all the times as success in trading needs equal luck as per your skill set.

[palle11]

I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.

Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it.

Stop-losses should truly be part of a pleb's strategy to minimize loss, BUT the best traders also know that plebs like us have learned to use the stop-loss. The best traders are using a counter-strategy for it called, Stop-loss Hunting. Next time, if you experience being liquidated, or your position closed because a stop-loss was activated before a big surge causing you to miss the trade, then you have just been a victim of the stop-loss hunt.

Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience   depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out.

[barbara44]

Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience   depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out.

The counter strategy is to liquidate all those stop losses when you drop the price and then accumulate from there. So, let's assume you have seen plenty of orders at around 40k, there is a big big wall there, you could use this to your advantage, get a lot of it until there, and then you could put your back against that 40k wall and then go higher.

Instead of going from let's say 45k to 50k, it is easier for the smart people to do 40k first then to 50k in that situation. This is of course to liquidate the stop losses and make a bigger profit. That is the counter-strategy people use, it is also used in leverage trading to liquidate other sides positions and take it from them.

[Sir Legend]

The most important thing when we trade daily is to have a clear goal, namely the profit target that we get, for example is 15%, if we already get a 15% profit then we have to sell immediately because the market always changes unexpectedly, when we continue to hold then there is no guarantee it will continue to profit and most of us are impatient when we see prices fall so we panic too quickly and immediately sell at a loss.

[ningrum]

The most important thing when we trade daily is to have a clear goal, namely the profit target that we get, for example is 15%, if we already get a 15% profit then we have to sell immediately because the market always changes unexpectedly, when we continue to hold then there is no guarantee it will continue to profit and most of us are impatient when we see prices fall so we panic too quickly and immediately sell at a loss.

Although it looks trivial but I think it is very important to set a target at the beginning,
because in many cases when they have made a profit they are still greedy and continue to hold it until they finally go down and lose,
the crypto market is really hard to predict and it's better to take profit gradually

[Cookdata]

many tips and tricks for day trading but very difficult to apply in trading, I think any tips we learn must be consistent to apply them, because what happens in day trading is a lot different from what we have learned, price movements that are too fast make trips and tips that we learn we can not apply optimally.
Whatever the tips and tricks, as traders, you just need to be consistent in applying them and take the time to add experience to the daily trading experience that we do.

One can only learn basic things when you want to start a journey in trading but reality they say is different from fiction, what happens in screen are mostly different from what you see in the market. There are number of things you will see when you begin to learn trading but as soon as you start real trading, you notice they are just different.
There was a time I wanted going long with $100 with Fantom, popularly FTM, you will think I have a bad luck in trading as that was the exact day some of the founders wanted to live the project and concentrate on another things, now tell me who will teach you these uncertainties.
You can learn trading but ideally, the basics are what you need, like fibonaci, stop loss, support and resistance, trend lines and lastly look out for wash trading pairs of coin.

[Wind_FURY]

Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience   depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out.

The counter strategy is to liquidate all those stop losses when you drop the price and then accumulate from there. So, let's assume you have seen plenty of orders at around 40k, there is a big big wall there, you could use this to your advantage, get a lot of it until there, and then you could put your back against that 40k wall and then go higher.

Instead of going from let's say 45k to 50k, it is easier for the smart people to do 40k first then to 50k in that situation. This is of course to liquidate the stop losses and make a bigger profit. That is the counter-strategy people use, it is also used in leverage trading to liquidate other sides positions and take it from them.

I'm not an "active trader" or a day trader, but there might be a "counter-counter strategy" against the whales' "stop-loss hunt counter strategy" for the plebs' use of the "stop-loss as a strategy". It's for plebs to make their trades smaller, and stop losses wider. OR simply, buy the DIP and HODL.

[palle11]

I'm not an "active trader" or a day trader, but there might be a "counter-counter strategy" against the whales' "stop-loss hunt counter strategy" for the plebs' use of the "stop-loss as a strategy". It's for plebs to make their trades smaller, and stop losses wider. OR simply, buy the DIP and HODL.

If you make your stoploss wider then there are chances that the price eventually hit your stoploss that you have made too wider hoping it won't get there but it gets there and take you out thereby you lose huge. If you set a far stop loss and it hit it, you are losing a lot of money than using a minimal sl so that you don't lose so much of capital.