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?
It seems to me that you are going through a very common issue, paper trading can be a good way to learn some of the aspects about how to trade but the experience of actually trading for real money is completely different since now you have to face psychological pressure that was not there and you have no experience dealing with it, now it is also possible that you did not backtest your system for long enough to see how it will behave under different market conditions, if that is the case I suggest to you that you stop trading and check if your system is truly as profitable as you thought it was.