Crypto 101 - The basics I wish I knew when I first started trading

@Akira
i DID learn how to finally use the stop-sell function though, so, hooray for that rofl god help us all

Glenn said:
@Raj
my 40 bucks in fee’s in this month already would agree with you :frowning: why the hell do i get baked and try to daytrade gawddfuhkindammit!

Why not use someone with Better fees if they are an issue

@SatoshiSeekerSam
the fee’s aren’t really much of an issue, it’s my naivety in letting myself fall for the classic FOMO so often lately it seems :frowning:

Glenn said:
@SatoshiSeekerSam
the fee’s aren’t really much of an issue, it’s my naivety in letting myself fall for the classic FOMO so often lately it seems :frowning:

Yeah I feel that. It’s hard sometimes, even when u know better. If I FOMO something the dollar amount is usually lower to be safe

@Raj
Why not make the fees a non issue if u enjoy doing this?

Cory said:
@Jony
Yeah not saying it’s impossible to make money, but it’s harder than it looks and most amateur traders would be better off holding IMO

[deleted]

Marston said:

Cory said:
@Jony
Yeah not saying it’s impossible to make money, but it’s harder than it looks and most amateur traders would be better off holding IMO

[deleted]

Right. And when it drops a few percent, then most traders start to freak out.

Marston said:

Cory said:
@Jony
Yeah not saying it’s impossible to make money, but it’s harder than it looks and most amateur traders would be better off holding IMO

[deleted]

A lot see they made profits that day or month but yearly or all time there red

Cory said:
@Jony
Yeah not saying it’s impossible to make money, but it’s harder than it looks and most amateur traders would be better off holding IMO

It all comes down to the person. Some people just aren’t cut out for things which require logical thinking and planning. Most people are simply stupid and struggle with things many of us here find easy.

@Jony
Most of the time its high risk, low reward

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Especially when your first trade made you money and you feel like Warren Prophet

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Rule 2: please for the love of God and all that’s holy don’t use leverage

Ryleigh said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Rule 2: please for the love of God and all that’s holy don’t use leverage

You either going to the moon or going to Earth’s core.

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

And #2:

Graphs doesn’t make sense and cryptos are unpredictable

Fable said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

And #2:

Graphs doesn’t make sense and cryptos are unpredictable

#3: If graphs had real predictive power every statistician would be a billionaire.

Fable said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

And #2:

Graphs doesn’t make sense and cryptos are unpredictable

Can confirm. My knowledge in statistics and control charts made me confident its gonna be doable for me but it was just money down the drain

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Me losing 70% of my first week becuse i thought i would be a good day trader agree.

Marston said:

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

Me losing 70% of my first week becuse i thought i would be a good day trader agree.

Sounds like you either lack common sense, make enough money so losing 70% is a non issue or need money so bad that you are willing to take absurd risk / gambling issues. I guess it’s the second one combined with not any practice before starting?

Cory said:
List of things I wish I knew before I started trading:

  1. Don’t day trade

I’m new to crypto, can anyone explain to me what day trading is? Is it when you make a lot of trades all are once in a day or…?

@Terry
Basically u buy shares from a broker and sell it off later on the same day so u dont have to pay overnight fees