Skills A Day Trader Needs to Succeed

[Golden9]

Day traders open trades for a short time, typically no longer than 24 hours. This means they deal with a lot of noise, especially in crypto.

One of the skills needed to succeed is proper emotional control to make the right decisions. A day trader should also stick to a profitable strategy, but also know when to discard it. It also helps if that's not your major source of income so you can make the best decision.

 

[Suba]

Basically a day trader will look for opportunities to be able to make profits instantly and quickly, even in small amounts, usually less than an hour. Two day trading methods that are often used by day traders are chart reading/analysis and speculation. Profits and losses for a trader are natural things that they will always encounter so they don't chase losses.

 

[Smalto]

Anyone looking forward towards starting a day trading business in cryptocurrency should master risk management, learn to control his or her greed, and also learn to control fear, as fear could lead to more havoc.

 

[Bisolami]

Day traders open trades for a short time, typically no longer than 24 hours. This means they deal with a lot of noise, especially in crypto.

One of the skills needed to succeed is proper emotional control to make the right decisions. A day trader should also stick to a profitable strategy, but also know when to discard it. It also helps if that's not your major source of income so you can make the best decision.

And there is something that I tell people which is that they should trade at the middle of the trade. I mean they should trade on the price in between the ATH and ATL of the day.

 

[Smalto]

Trading between all time high and all time low, I think it's a very great idea, thanks for dropping this helpful tips, would do well to work on it.

Post automatically merged: Jul 30, 2023

F

Basically a day trader will look for opportunities to be able to make profits instantly and quickly, even in small amounts, usually less than an hour. Two day trading methods that are often used by day traders are chart reading/analysis and speculation. Profits and losses for a trader are natural things that they will always encounter so they don't chase losses.

For you to make money from day trading, one has to kill every form of greed, else it will be very difficult, because you might be waiting for the profit to be massive and along the line the trade could go against you, that would definitely lead to massive loss.

 

[Bisolami]

Trading between all time high and all time low, I think it's a very great idea, thanks for dropping this helpful tips, would do well to work on it.

Post automatically merged: Jul 30, 2023

F
For you to make money from day trading, one has to kill every form of greed, else it will be very difficult, because you might be waiting for the profit to be massive and along the line the trade could go against you, that would definitely lead to massive loss.

Greed is something that kills every trader very fast and that is why it is important for someone to learn the act of not being greedy while you are learning how to trade or else, you will continue to lose