@Wanderer18 9 May 2021 more from that month

Hey there, we already have an idea what and how day trading came to be (don't know it yet? Check my previous post or research 🙂). Now, lets talk about something that most are concerned about(including me). How do day traders make money? Successful day traders will have a deep understanding of the market and a good chunk of experience. Day traders will typically use technical analysis (TA) to create trade ideas. They will usually use volume, price action, chart patterns, and technical indicators to identify entry and exit points for trades. As with any trading strategy, risk management is essential for success in day trading. As fundamental events may take a long time to play out, day traders may not concern themselves with fundamental analysis (FA). Even so, there are some day traders that base their strategy around "trading the news." This involves finding assets with high volume thanks to a recent announcement or piece of news and taking advantage of the temporary spike in trading activity. Day traders aim to profit off of market volatility. As such, volume and liquidity are crucial for day trading. After all, day traders need good liquidity to execute quick trades. This is especially true when it comes to exiting a position. A large slippage on just one trade can have a devastating impact on a day trader’s trading account. This is why day traders will typically trade highly liquid market pairs. Some day traders will only trade one market pair, such as BTC/USDT. Others will create a watchlist based on technical or fundamental attributes (or both) and choose what instrument to trade from that list. Source: https://academy.binance.com/en/articles/a-beginners-guide-to-day-trading-cryptocurrency Always choose the strategy that best fits your profile. Happy trading.😊 #NoiseCash