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?
Day trading is not easy, short time, range, take profit and stop loss create stress. Some people develop ability only use one shoot, replace stop and go in one time. That strategy is good because keep away trader from stress and have many time to find and fix their mistakes. I think you need change your strategy ( combine with news ) with any opportunity you have. This is hard market and mostly, every strategy fail.