I've been studying day trading crypto on and off for about a year. Everyday i'll go into 10 or 20 coins mark their supports and resistances to get really familiar with reading charts. I've studied candlesticks, trading patterns and a lot of indicators. I'll put up a few of the indicators and go through past markets to check how they reacted previously. I then try and predict which way a coin is going. I make notes of where i would get in and get out to see if it was real what sorta success I would have. I seemed to have it done alright so thought i would have a go with real money. I put a few hundred pounds in and the first few days i think I was very sporadic and kept trying to put money in everywhere i thought i saw something. It didn't go too well. This week I calmed down and said i'd only do a few trades a day where I really concentrated and really thought it out. Every time I put my money in it would start to go well, all the indicators pointed to success then all of a sudden it would plummet out of nowhere. I'm wondering is this a bad market to start learning to day trade in or do I just need more practice. Also any tips?
Theres no specific time for you to start day trading yet those movements are just typical days on this very volatile market which means either you trade up too well but doesnt mean that you would be profitable in the end of the day.Basing up with your situation its just clear that this had been a very common event for most traders on the market where they are somewhat sure with their analysis but still end up on losing because the market moves on the opposite side.Keep practicing up and dont bother or get discouraged easily with losing trades yet mistakes are really inevitable.The thing here is that on how you do handle it up and trying your best on your next trades to come.Dont mind too much if you entered too early or too late because theres no specific time for that as i mentioned earlier.