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Daytrading crypto

Discussion in 'CryptoCurrency' started by tazzerker, Jun 1, 2017.

  1. tazzerker

    tazzerker Newbie

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    Hello there , i would like to start daytrading cryptocurrency in few days,im complete newbie in this , is there anyone who can give me tips or help advice.
     
  2. Xr0x

    Xr0x Jr. VIP Jr. VIP

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    Daytrading + complete newbie = Gambler.
    Dont start with it unless you know what you are doing, this is my advice for you.
     
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  3. tazzerker

    tazzerker Newbie

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    Umm the main point of daytrading in my case is that i have low budget to invest , as i would like further to invest in etherum. so daytrading for me meant to gain some money to invest why is this wrong idea?
     
  4. MacRichard

    MacRichard Registered Member

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    You can find some quality videos from youtube about crypto trading.

    Watch the markets daily and think why something happens (like some coin rising 50% suddenly)

    Other than that I can't really help since am a noobie like you trying to learn.
     
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  5. buggy032

    buggy032 Junior Member

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    @tazzerker if you insist try to start with small amount like 50-100 to keep losses minimal it will be learning experience. When you have gained knowledge or market and tricks than can catch you off guard then buy in higher and try to flip a profit. Good luck friend
     
  6. avilux

    avilux Power Member

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    Day trading gives you the greatest reward IF you know what you're doing. Your first post shows you have zero clue as even just asking for such help shows you're unable to find knowledge (of which there's plenty on forums, social media, blogs) so honestly I'd first try to figure what's going on. We're not trying to be rude but you have a high chance of losing on your first bets if you go in shooting from the hip. Even if you make good profits at first, you might get high off of the success and then lose it all the next week. Day-trading should be left to those with some experience at the very least. Before I got into trading at least I knew a bit because I played around with virtual trading simulators for a few months
     
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  7. SEO

    SEO Jr. VIP Jr. VIP

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    I tossed in about $400 within this past week. I picked up 1 ETH and 2 LTC. I picked up an additional 2 LTC when the price dipped a bit, and I bough 2 more LTC this morning when the price was up a bit just because I'm not planning to sell out anytime soon.

    Funny story about my trade this morning. Looking at the last month, LTC had 1 distinct head and shoulders pattern. When I bought, it was right in the middle of completing a second head and shoulders pattern. Because Crypto is so little and volatile, I didn't trust my better judgement.

    Patterns like head and shoulders work when there is a lot of volume, etc. So, I figured I couldn't really trust them with crypto.

    ltc-h-a-s.png

    Orange circles are the shoulders, yellow circles are the heads, and the arrow is where I bought. It then proceeded to fall 2 dollars after my buy, hahahaha.

    Anyways, I don't care just because I'm either riding these to the moon or into the ground. Good luck to you :)
     
  8. koleinz

    koleinz Junior Member

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    90% of cryptos are bubbles, also bitcoin is a bubble and the only currency based on deflation which makes it totally unsecure in the long run.. rest of the new outcome cryptocurrencies are theoretically the same as pennystocks which going broke after the latest High in most cases
     
  9. SEO

    SEO Jr. VIP Jr. VIP

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    I agree in most cases except Ethereum. Ethereum is backed by some huge companies (Intel, Microsoft, BP, Cisco, UBS and JP Morgan). Granted, the companies may just want the underlying tech and leave the coin for dead, but who knows?

    http://fortune.com/2017/02/28/ethereum-jpmorgan-microsoft-alliance/
     
  10. whiteblackseo

    whiteblackseo Jr. VIP Jr. VIP

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    Bubbles can pop in days, weeks, months, or even years.
     
  11. ehije

    ehije Newbie

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  12. ehije

    ehije Newbie

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    What is the difference between ethereum and ethereum classic
     
  13. 1761

    1761 Newbie

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    Bullshit. Of course there are some "shitcoins", but the top 15 measured by market cap are legit and serve their purpose.

    OP, check out coinmarketcap.com, Reddit, some Youtube videos to get a first impression.
     
  14. uches12

    uches12 Regular Member

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    Payment can be reversed with ethereum classic but with standard ethereum it's just one way not reversible
     
  15. SEO

    SEO Jr. VIP Jr. VIP

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    That's actually reversed. In short, a hack happened that caused some people to lose money. The majority of the Ethereum community decided to give the money back. A minority disagreed (because you shouldn't be able to undo the blockchain), so they started Ethereum Classic.

    So basically, with Ethereum, there is the possibility of reversing transactions. On Ethereum Classic, they stick hard to the rules and refuse to reverse valid transactions. Here's more info should you want to know the ins-and-outs on what caused the split:

    http://www.coindesk.com/ethereum-classic-explained-blockchain/