Quote from: malikusama on February 26, 2019, 03:53:16 PM

Quote from: nydiacaskey01 on January 31, 2019, 10:33:54 PM

Quote from: Findingnemo on January 31, 2019, 06:23:33 PM

In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.

More points about mistakes need to avoid are welcomed here for the newbie to learn.

Day trading on bear markets is not advisable. Try to notice the price and one thing that you will notice is the price is not going anywhere. Most of the time, price is just moving side ways. The profits that you get is not enough to pay for the fees. If you really plan to continue day trading, set a low target like 2% to 3% profits, upon hitting your goal, Sell right away.

Day trading is always risky in both bear and stable market that's why it is non-recommended trading type.
A day trader don't expect huge amount of profit, because he can still manage to make it big by earning small profits regularly.
2% to 3% is still a good percentage in this market if you can earn it regularly.

Yes, day trade is a very risky type of trade on this industry however this type of trading style has a huge possibility of profit in a daily basis. Every day trader should know that even it is a day trade, don't try and push too hard to achieve the daily goal like 2-5%, this is what i commonly notices on their mistakes.