Hey guys, I been in crypto since 2017. I have attempted day trading a couple times but got burnt a little and gave up. I'm familiar with trends and some TA. But I never day traded 100k before. So I decided to give it a try. I decided to trade Polkadot it was new and on uptrend but somewhat flat. I was trading on the 1 minute chart. My plan is, get 1 trade a day right, make 1000-2000 dollars in 5-15 minutes and get off "work." Well I made 3k today off 2 trades. Maybe I was just lucky. So throughout the day I practiced without actually using any money. Called all of them right with Link, BTC ETH and XRP. Made some more calls correct with polkadot on its downtrend. I just zoom out and look at the trend and resistance levels. I'm conflicted honestly. I am originally an investor. I want to do both, but this money I was trading was actually a good portion of my long term portfolio. reason why I am doing this is because in crypto I feel like we are in a bubble again for some of these "defi" coins like chainlink running up from $1 to $20 and Lend basically 100x. It's nuts in crypto right now. So I went into a stable coin and bascailly got the idea to try trading. I'm just looking for advice. Maybe stick to my long term positions and work for another 2 years and save up another 100k, maybe my investments will moon again, and then I'll have 100k again to trade (at this point screw real estate and dealing with nasty tenants!). I will definitely continue to practice trading. I just see this possibility of quitting my 9 to 5, but I want to invest long term too. What would you do? Stick with the long term investments or turn my portfolio into a trading machine? I don't want to day trade $10,000 and try to trade 40 times in a span of 8 hours. That sounds dumb and you might as well be at work. I need a $50k - $100k stack. 1 trade per day done and over less than 20 minutes. Trading on the 1 minute, should be over under 5 minutes. Edit: was wrong on 1 call when practicing, but it came through within 20 minutes. Would of been a +$600 trade on Chainlink.
After waking up, browsing /CryptoCurrency, and seeing all the news about toasters powered by Ethereum, you make a vital decision that will change the course of your life. You decide that the best way you're going to stop being a pathetic broke-ass fat nerd is to make 100x in the crypto day trading market and pick up all the sexy ladies (whose attractiveness is truly immutable) in your new 1,000,000 CRM Lambo powered by nocoiner tears. You take whatever Chroma you have remaining and move it to Bluenance, this cool trading site where you can buy and sell the best coins on the market. Your Balance: Total Value: 10,000 CRM CRM - 10,000 Date: January 1, 79 AF (BTC) Bitcoin: 104,792 CRM (ETH) Ethereum: 8,583 CRM (LTC) Litecoin: 1,271 CRM (BRD) Toaster Energy Token: 256 CRM (PWA) Powaaaaaaaaa: 199 CRM (DSYN) Decentralized Synergy Coin: 135 CRM (STD) Smart Tech DAO: 0.0093 CRM The options are to HODL your fiat, or go ahead and buy something. Feel free to add as much dialogue and lifestyle changes/actions as you wish. The first response to my post will be what will occur. Be fast, be smart, and be effective!
Slow week - Lot's of consolidation and no real major breakouts. Best thing to do is stay away and catch-up with everything else. I also want to pitch some new ideas to you guys about some changes that will be taking place. Would love to get your feedback if you haven't yet already! Stay tuned for the Weekly Trade Review Live Stream #57 Trading Lessons + Trade Ideas (Best #Crypto 2019) Every #Monday @ 8AM EST Watch Live Stream here: https://youtu.be/yqgSHyIMgQw #weekly #trade #review #daytrading #swingtrading #tradeideas #MondayMotivation
Hodler here...Need some guidance on crypto day trading
Like the title says... I don't trade, just hold, but I wanna get a bit into trading using a very small part of my portfolio (1% or less) I don't want to become a day trader or anything, but if I'm gonna do this little experiment, I wanna do it the right way. Can you guys recommend some solid guides on the fundamentals? Something to get me going in the right direction. Also... are gains made from crypto to crypto trades taxable? Thanks in advance for any input
How long does it take to learn crypto day trading?
Assuming that you're intelligent, willing to give it your full time (ie: 60hrs a week of study + actual hands on trading) and are willing to actually trade your own money because you understand that you learn faster by studying and actually doing than by just studying alone. Also assuming that you're willing to take some risk or losses in order to learn faster by getting bitten once in a while. Your thoughts? Also any ideas on how to learn fastest in this situation? Thanks in advance!
So I'm considering day trading crypto with a daily gain target of 3-5 percent. Now, in a volatile market like crypto, this seems achievable. However, from what I've been reading , most people advice against day trading and I don't understand why. With a daily gain of 3 percent you can double your money in 24 days. Can anyone day trading share their experiences. Cheers
There are few types of day trade strategy styles that can help you earn revenues from crypto investments. You have trend trading (going with the flow of the market), counter-trend day trading (expecting fluctuations within the trend), ranging trading (used when the market is "stable" but goes up and down constantly in value), and reactive day trading (large changes in short time). Each of these has its application, time, and place to be used. Keep in mind how the market moves and implement the corresponding style of your day trading strategy. https://www.cryptocointrade.com/
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Day trading is a type of short-term trading aimed to bring quick profit in a short period of time. As the opposite of day trading, there is long-term trading which implies such a strategy as hodling. Pretty much every cryptocurrency can be traded in short and long positions if you know how to ‘read’ the market. Day trading cryptocurrency has boomed in recent months. High volatility and trading volume in cryptocurrencies suit day trading very well. Here we provide some tips for day trading crypto, including information on strategy, software and trading bots – as well as specific things new traders need to know, such as taxes or rules in certain markets. Crypto day trading strategies. The idea behind crypto day trading is to look for trading opportunities that offer you the potential to make a quick profit. If day trading suits your personality, let’s dive into a step-by-step guide on how to day trade crypto. The secret to becoming a successful crypto day trader is developing an eye for quick ... Take a look at our guide to the best exchanges for trading crypto, we have also written in-depth reviews of most exchanges so look here to find the one you wish to use.. If you’re considering day trading, we’re going to assume that you know how to register an account on an exchange, and what the difference is between a centralized exchange and a decentralized exchange. All in all, day trading crypto can turn out to be a really profitable business once you get the hang of it. Good luck! People Mentioned. Brian Armstrong. Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his ...
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