I’ve heard that finding a good pick for the day is most of the work.
HOW DO YOU FIND YOUR COIN FOR THE DAY? WHAT IS YOUR PROCESS?
I’ve heard that you want to find coins with a lot of volatility.
I’ve heard about the VIX bitcoin volatility index.
HOW DO WE QUICKLY SEE THE VOLATILITY OF A VARIETY OF ALT COINS? Is there a tool? A source?
Volume and liquidity are key. So only choose big name coins and pairs with a lot of action. Many terrible coins have high volatility but low volume which makes it easy to get trapped. Lesson: Only trade with popular coins.
I assume we want to focus on a coin which is uptrending for the day.
I assume that there is at least ONE good coin worth day-trading each day – and that there is a timely way to find it. Again… what’s your process?
I believe we can still profitably day-trade during a bear market. Does anyone have experience successfully day-trading in a bear market OR down-trending coin? If so, HOW DO YOU DO IT?
you listed the ways to find. I would only day trade a coin with high liquidity, helps if coin is in a trend too.
Where do you find your trenders? Is it just picking one randomly from the top daily gainers, or do you seek out news (if so what kind - I used to look for mainnet launches but decided they were a bit lack luster).
I prefer to avioid any coins which have a lot of news around them at that point(makes TA less effective). I have a list of 20coins, each morning i go through each coin and will do TA on each one. Pick my top 3 coins which have the best looking TA, and will trade those.
How do you pick your 20?