1- Never invest more than you are willing to lose. This is the most important rule.
2- Invest enough to make "Microtransactions" worthwhile - $5,000 is ideal. If you have a lot of patience you can start with as little as $1,000. If you are starting low, then your risk will be higher because you will not be able to diversify and still make a worthwhile profit.
3- Common definition of "Microtransaction" is buying a crypto and selling it as soon as it goes up 2-4%.
4- Always sell when you have made a profit. Greed is what causes fortunes to be lost in daytrading.
5- Pay attention to the core currency values (BTC, ETH). When you sell an asset, check how much you will earn on each market. Having multiple windows open to your exchange is Profitable choice as well as a calcultor at all times.
6- Learn to read all of the charts on your chosen exchange. They are invaluable to beimg successful at daytrading.
7- Set up Google Search alerts for various cryptocurrency related search criteria. The crypto market is heavily influenced by news hype.
8- Read, read, read, and then read some more. Stay as current as possible on all things crypto. Read news articles, Twitter posts, Company blogs, Reddit, etc.
9- Get involved with the community, for example, download Telegram and join some cryptocurrency groups.
10- Know that no matter how good you are, there is still a degree of luck involved.
11- Don't panic sell if you made a poor pick. This market is highly volitile and chances are you will atleast be able to limit your loss to 1-2% or even make a small profit if you have patience and wait a few days.
Hope This helps some Traders to get started #daytrading. Practice makes perfect.
GODSPEED
GOD BLESS
