If You Could Start Over, How Would you Learn Day Trading

[death69]

~snip~

Being part of a trading community is a wise move for beginner traders to expand their knowledge and learn about new techniques and strategies. These communities also provide an opportunity to share experiences and discuss with other traders who share similar interests. No matter the type of trading you want to do, joining a community will help you become a better trader and minimize the risk of loss.

Also, to start day trading, technical analysis is one of the most widely used approaches. Technical analysis involves using charts and technical indicators to understand the price trends and outlook for an asset. Many day traders use technical analysis as a basis for making trading decisions. However, it is important to remember that technical analysis is not always accurate and there are many other factors that influence asset prices such as economic news and fundamental factors. It is therefore advisable to do enough research and combine with other approaches such as fundamental analysis before making a trading decision.

Let me tell u straight up that joing a tradin community is a must-do for newbies. The thing is, when u share your experiences and knowledge with other traders, u can learn a tonn and get some reel valuable insights into different tradein strategies. But hey, dont just rely on that. Technical analysis is another dope tool that can help u out as a day trader. It's all about understandin the price trends and outlook for an asset, u feel me? But listen up, dont go and base all your trading decisions on technical analysis alone. Economical news and fundamental factors can be the X-factor in influencin asset prices. I learnt this the hard way, man. I made a tradin decision based solely on technical analysis and didnt even think about an important economical announcement. That move backfired, and I took a huge L. So, remember to combine technical analysis with other approaches like fundamental analysis and market sentiment to make smarter moves and stack your bread.

[Silberman]

I did a lot of demo trading for almost a year before venturing into the live trading environment. My concern was that I wasn't good enough and was scared of falling for trading scams. I made up my mind to figure things out on my own.

In retrospect, if I could start all over again, I won't do demo trading for that long, I will try out my own strategies in live trading while being guided by classic trading strategies. I will equally find successful and well experienced trading mentor as well. And I will make sure I stick to my daily plan on achieving my goal during the trading process. At the end of each trading day, I will carry out a review of to see if I did right and how I can maximize my profit. I usually waited until the weekend to do this.

While trading in a demo account for that long could have been too much, at the same time if I was given the task of trying to predict who will eventually become a good trader and my choices were someone like you and someone which went straight towards trading with real money I will pick you, as it is better to be way more cautious than to be a risk taker, since those that like to take risks do not last long in any market due to their inability to control their emotions.

[LUCKMCFLY]

The Bitcoin market is something different, it has a very large ingredient that characterizes it and that is volatility. I think that if I could start over the last thing I would learn would be technical analysis, because it is better to have the reason why a movement occurred in the Bitcoin market. market and only then can you determine what's next and thus make predictions that are more likely to happen.

[naikturun]

even if you do daily trading it may not be in accordance with your predictions and estimates, so actually everything has a risk, how do we minimize that risk which is an important lesson from this.
but people will get smarter when they make mistake.

[bettercrypto]

I think, as one of the communities here in the crypto space we should learn from the mistakes of other bitcoin or crypto traders here in this business industry so that we don't end up like their wrong trading strategies.

       Also, you can learn crypto trading without anyone teaching you as long as you have passion, determination, and dedication. But if you have a mentor to guide you, it will be faster

[so98nn]

In my locality there are good tuitions for trading classes. They are so good that you can take the free demos before enrolling or paying heavy fees for the course. They would show you the examples of successful peeps who learnt from them.

I think I will start with those guys and then slowly go for my own demo accounts and trading on them eventually. I think my current thinking is not very good for trading. I will have to start over all of those thinking from the scratch for sure. Basically given chance I will need to redo everything.

[Kelvinid]

In my locality there are good tuitions for trading classes. They are so good that you can take the free demos before enrolling or paying heavy fees for the course. They would show you the examples of successful peeps who learnt from them.

I think I will start with those guys and then slowly go for my own demo accounts and trading on them eventually. I think my current thinking is not very good for trading. I will have to start over all of those thinking from the scratch for sure. Basically given chance I will need to redo everything.

Perhaps, it was a good start to having a mentor or someone who could assess upon learning to trade. If it had only been taught in school, many people had wanted to enroll and take that opportunity. Yet it was not as trading was not a known thing until cryptocurrency has come and built such an aura to make it more attractive. That is why it was easy for now to learn about trading as it was pretty available online, we can watch videos and demos which we can apply in actual trading. And it was good enough to start our trading carrier, perhaps, we can learn more through experience.

[Zorigi]

daily trading is fun because if we are good at analyzing the market
crypto, then we will potentially profit every day.

but it's not an easy thing to learn, because lots of people experience losses as a result of daily trading, but I personally also often do daily trading in crypto, and I do the DCA system every time I make a trade.

but remember not to buy when the price is rising, because it can result in a higher potential loss.