A short guide: day trading If you are a novice trader, perhap | Cryptology News Channel

A short guide: day trading

If you are a novice trader, perhaps you did not even think about the best time to make deals, and most likely you unknowingly traded during the day. Today we will look at the process of day trading.

Day trading is one of the most popular and widespread methods in the cryptocurrency space. Experienced traders prefer day trading as it is a conducive environment for profitable trades.
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Day trading is speculating on the price of a cryptocurrency in order to profit from short-term movement.
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The main feature of this trade is that all transactions must be opened and closed within one day. In simple terms, traders who trade during the day will not keep their positions open at night.
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The principle of day trading is that a trader must know all the intricacies of the market and the crypto assets that he trades. Since its main task is to profitably purchase an asset, the price of which may change over the next hours.
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Benefits of day trading
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— Independence. Most traders play on their own and are not accountable to anyone.
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— There is no need to make long-term forecasts.
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— Simplicity. Most people think day trading is easier, even at first glance.
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The ability to make money quickly and effortlessly is what attracts most traders to day trading.