Post
Topic
Board Trading Discussion
Re: Day Trading
by
Rebisco
on 25/02/2019, 15:59:56 UTC
95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable. It really needs more reviews and research before buying certain coin or token. I always advice new traders to spend their time to get to know the concept and the purpose of the projects or to DYOR (Do Your Own Research). Sometimes the reason why you buy certain coin or token because of hype or FOMO ( fear of missing out ) wherein you see your friends in social media enjoying what they hold. FOMO always happen anywhere in social media because it uses as a marketing strategy to manipulate the markets. Therefore, before diving into cryptotrading, always make sure to DYOR!
Day trading is not easy due to volatility of the cryptocurrencies and it is the reason why many traders are losing. As a day trader, I using technical analysis for me to know when will I buy and sell cryptocurrencies that I have. Using technical analysis is effective most of the time.