Re: noob question on manual day trading (does my method I made work? with graph)
https://ibb.co/TMZT3qX
So I had a good run in 2017 made lots of money off some trading but maybe luck due to bull market, I often wonder if I just kept putting in buy orders and made one final Max sell order jan 1 if I would have made more, but I did learn a bit.
Lately I have been manually day trading.
My stratagy is this look at 30day 12 hour 6 hour and look for a general up trend.
Then put in a small amount of money into the coin 1000-2000$
I look for a climb and then a big fall like in the image. When I see the bottom of the dip start to climb I buy. I wait on the 5 min time scale and after 1-6 hours I see a peak start to dip and I get ~10 min of red candles and I estimate its starting to decline I sell and make a small profit. I keep doing this on all coins that seem to be long bull run coins; this is so I dont enter a trade and get stuck waiting forever for it to rebound or have to cut my losses and take a loss to free up the money. If I make 50$ I consider that a very good win, but I will go as low as 10$ profit, with my goal to make a whole bunch of little trades with what I am assuming is a low risk stratagy. Is this low risk? I wish I knew how to program a bot to do this.
So What am I doing wrong, or what can I do better? These are all trades I set to one min view with an oscillator (Im am just starting to learn these, and just read you need an indicator to go with it, an osc. is only half the story, I dont understand this) put on my phone next to my laptop and watch videos while glancing over at the price every few minutes, so its an active trade I dont go to sleep with these trades open.
What is the correlation of volume to my chart above? I know there is a correlation of volume to big swings but I'm not sure what to make of them, hence why I didnt animate them.
So I had a good run in 2017 made lots of money off some trading but maybe luck due to bull market, I often wonder if I just kept putting in buy orders and made one final Max sell order jan 1 if I would have made more, but I did learn a bit.
Lately I have been manually day trading.
My stratagy is this look at 30day 12 hour 6 hour and look for a general up trend.
Then put in a small amount of money into the coin 1000-2000$
I look for a climb and then a big fall like in the image. When I see the bottom of the dip start to climb I buy. I wait on the 5 min time scale and after 1-6 hours I see a peak start to dip and I get ~10 min of red candles and I estimate its starting to decline I sell and make a small profit. I keep doing this on all coins that seem to be long bull run coins; this is so I dont enter a trade and get stuck waiting forever for it to rebound or have to cut my losses and take a loss to free up the money. If I make 50$ I consider that a very good win, but I will go as low as 10$ profit, with my goal to make a whole bunch of little trades with what I am assuming is a low risk stratagy. Is this low risk? I wish I knew how to program a bot to do this.
So What am I doing wrong, or what can I do better? These are all trades I set to one min view with an oscillator (Im am just starting to learn these, and just read you need an indicator to go with it, an osc. is only half the story, I dont understand this) put on my phone next to my laptop and watch videos while glancing over at the price every few minutes, so its an active trade I dont go to sleep with these trades open.
What is the correlation of volume to my chart above? I know there is a correlation of volume to big swings but I'm not sure what to make of them, hence why I didnt animate them.
That is one way to make good trading you study how it works and you make your own strategy, starting small is a good way to invest you made the decision use the amount of the money that you will not regret using that I think you are ready to lose. From what you said you also need sources on why did you come up with this strategy? or how? this can help a lot of people but for some, they will give it a try without anykind of sources.
Also sorry if Iam going to offend you because this is what I kind of did but I also win but its really time consuming for me I can watch the charts for every 5 mins and by doing this I did not get the chance to learn and I don't know why it did not work for me. At the very least I still did win for a long term of holding.