Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Events
    • Shop
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • United Kingdom
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
      • Middle East
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Events
    • Shop
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • United Kingdom
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
      • Middle East
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

This field is for validation purposes and should be left unchanged.
  • Finance

Simple Guide to Day Trading Bitcoin and Other Cryptos

  • BY EA Editors
  • October 9, 2018
Total
0
Shares
0
0
0

Simple Guide to Day Trading Bitcoin and Other Cryptos

Cryptocurrency trading is not something you delve into without a plan. You need a guide that assures you incur minimal losses when trading. There are two things that are crucial for you to determine before you start trading. They are:

 

What drives you to trade cryptocurrencies?

It is a simple question, but you need to answer it honestly. The cryptocurrency market is still young considering it is less than half a decade old. All the same, it has more press coverage and column inches than any other assets class in the past couple of years. The coverage varies from gloom and doom and has “bubble bursting” predictions. There are tales of instant millionaires who have high-end supercars and a jet-set lifestyle. These should all be ignored.

You should know crypto trading is a volatile marketplace. As such, you should be comfortable with dealing in a volatile market. It does not matter your choice of trading and your commitment. You may want to be a full-time trader, part-time trader, long-term investor, short-term trader, or someone who is interested in the cryptocurrency space. Whatever your choice, you need to be completely comfortable with a volatile marketplace.

 

Have a dry run

Running and practicing is the only way you can be confident and comfortable with the market. Majority of successful traders attribute their success to learning and practicing. One of the benefits of practice is it breeds confidence. For starters, it shows you what you are doing right. Secondly, it helps you ingrain the right moves in your daily trading activity.

One of the most important aspects of learning and practicing is understanding where you go wrong. To make sure you are on the right track, do not forget to use online trading academies. They are an invaluable source of information. This means you should use them as often as possible at every stage of your trading journey.

As a new trader, it is advisable to open a Bitcoin trader demo account before you commit any of your money. The account can be used to apply a variety of technical trading techniques combined with rigorous fundamental execution set-ups and market analysis.  

When you are learning you can remember how you arrived at a point by making a record of losing and winning trades. Make sure you include the reason why you specified specific loss and profit limits as well as why you entered the trade. Other things to include are how you felt after closing a trade and why you decided to invest a specific amount of money.

Ensure you are honest in your records. They will assist you by providing real-life examples of why and how the trades went wrong or right. Never take shortcuts during your trading analysis. Taking note of your mood will affect your trades. Try and avoid being in a rushed or bad mood as you trade. This move will ensure you trade with the right mindset. It will also prevent you from making mistakes associated with bad emotions and feelings. Lastly, you should never trade when you are ill or tired.

I hope you got value from this article: Simple Guide to Day Trading Bitcoin and Other Cryptos. If you would like any further information, please contact our office HERE. Also, here are some additional articles on I’m pretty sure you will love!

The Rivemont Crypto Fund Has 91 Percent Assets in Cash

The Appeal of Gold as an Investment

How a Second Passport can Save Your Life

How To Take Advantage Of The Colombian Consumer Lending Market

4 Things You Should Know to Prepare for Emergencies While Traveling

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • bitcoin
  • day trading
Previous Article
  • Asia

Residency Options in Japan

  • BY EA Editors
  • June 24, 2018
View Post
Next Article
  • Asia

Things to Know Before Starting to Look For a Job in Asia

  • BY EA Editors
  • March 1, 2019
View Post
You May Also Like
Starting a Business Abroad - A world of new markets and global possibilities
View Post
  • Business
The Beauty of Starting a Business Abroad
  • BY Aneesa Marufu
  • October 17, 2025
How to Legally Pay Less Tax Abroad
View Post
  • Plan B
How to Legally Pay Less Tax Abroad
  • BY EA Editorial Staff
  • October 15, 2025
The Tale of the Tael - A timeless store of value across centuries
View Post
  • Finance
The Tale of the Tael’s: A Hard Lesson about Hard Money
  • BY Michael Checkan
  • September 24, 2025
Craggy cliffs and quiet harbors frame life in the Isle of Man
View Post
  • Your Escape Plan
Life and Opportunity on the Isle of Man
  • BY Aneesa Marufu
  • September 19, 2025
Central America’s strategic position is reshaping the global offshore banking map
View Post
  • Plan B
The Future of Global Finance Runs Through Central America
  • BY Luigi Wewege
  • September 17, 2025
Global Diversification Tips from Experts
View Post
  • Plan B
Staying in One Country Could Be Your Biggest Financial Risk
  • BY Isha Sesay
  • September 3, 2025
Find Your Next Chapter: Top Countries with Retirement Visa Pathways
View Post
  • Your Escape Plan
Top Countries with Retirement Visa Pathways
  • BY Carla Rodrigues
  • September 1, 2025
Low-Tax Countries to Save Money in 2025
View Post
  • Plan B
Where Expats Are Moving to Keep More of Their Money
  • BY EA Editorial Staff
  • August 27, 2025
Trending Posts
  • Buying a Property abroad 1
    • Your Escape Plan
    Why More Investors Are Buying Homes Offshore
    • October 8, 2025
  • Life between borders 2
    • Field Notes
    Living Between Continents, Cultures, and Contradictions
    • October 13, 2025
  • How to Legally Pay Less Tax Abroad 3
    • Plan B
    How to Legally Pay Less Tax Abroad
    • October 15, 2025
  • Living in Paris: Digital Nomad Guide 4
    • Digital Nomadism
    A Digital Nomad’s Guide to Living Like a Local in Paris
    • October 10, 2025
  • Starting a Business Abroad - A world of new markets and global possibilities 5
    • Business
    The Beauty of Starting a Business Abroad
    • October 17, 2025
Subscribe
Know Before You Go
  • Welcome sign in Puerto Viejo de Talamanca, a laid-back Caribbean town that offers one of Costa Rica’s most colorful and affordable coastal lifestyles. 1
    • Costa Rica
    Moving to Costa Rica: Your Guide for a Smooth Transition
    • October 20, 2025
  • Top 10 Cities in Ecuador to Visit and Live In 2
    • Know Before You Go
    Top 10 Cities in Ecuador to Visit and Live In
    • October 17, 2025
  • Costa Rica Cost of Living Guide: Prices, Budgets, and Tips 3
    • Costa Rica
    Costa Rica Cost of Living Guide: Prices, Budgets, and Tips
    • October 15, 2025
  • 7 Best Cities to Live in Mexico for Safety, Cost, and Lifestyle 4
    • Mexico
    7 Best Cities to Live in Mexico for Safety, Cost, and Lifestyle
    • October 14, 2025
  • Cost of Living in Spain: What to Expect in 2026 5
    • Spain
    Cost of Living in Spain: What to Expect in 2026
    • October 13, 2025
Learn More
  • About us
  • Contact
  • Advertise
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.
Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription
Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/