... OK, so i'm in a CRYPTO world for about 3 months now and i was thinking, if i should day trade. I made an account on exchange called Binance (referral link: https://www.binance.com/?ref=11000332) 1 month ago, because i wanted to try this. First i bought some XRP, because it was 10% down on this day. Tomorow, when i woke up and checked my portfolio, XRP was 20% up. Of course, i was really happy and i sold it for a profit.
So, the question is, SHOULD YOU DAY TRADE?. In my opinion YES, because you can make some really good profits. But it depends on some factors, that i learned from this.
When i made that XRP trade, i didn't know anything about the charts and how to look at them. But now, i know something. I'm using site www.tradingview.com, it's FREE and easy to use, if you just look at some YouTube videos. In my opinion, the most useful indicator to look for, is Stochastic RSI. If you day trade, you should probably look at the 1h or 2h chart of the coin you want to buy. It's useful for trades that you can execute during the day.
Look at the RSI indicator and see, if the blue and the red lines are down or up. If the lines are up, that means that price of the coin will most likely go down, because the coin is overbought, and if they are down the coin is oversold and the price will probably go up. So you buy the coin, when lines are DOWN and sell it when the price goes UP.
But this technique is not 100%, this is just my technique, that i use. It somethimes FAILS, but somethimes also succeed.
