Post
Topic
Board Trading Discussion
Re: What is the first rule of daily trading in your opinion?
by
Daimon88
on 01/11/2017, 11:53:07 UTC
Don't do day trading if you don't have any knowledge or some experience, BTW the main thing is to just stay focus on the market of your coin and be active, day trading is too fast and risky so may you loose the opportunity to earn if you are not attentive.
There are so many things which you need to take care and that too in a well manner if you really want to go for day trading. Day trading is quite a different kind of things and it needs you to remain active and vigilant throughout the time. One wrong decision can result in huge loss of money. So it all depends on how good you are at managing the things and making decisions in short span of time.
In my opinion the first rule of daily trading is the profit margins of that day. I mean if you trade something and you observer the market value of that particular thing then you will make your trading more easy and profitable because if the profit margin is very low or even zero then there is no need to trade something on that day.

For example gold because the price of the gold vary every day and the gold traders should keep the price first before trading in that day.