Tutorial on How to be a day traders
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Tutorial on How to be a day traders

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Tutorial on How to be a day traders

photo 2021 10 07 17.26.18

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Be a day traders? Who here really likes stalking? Or is it really a hobby to look at the gadget screen?

Tips and tricks to be a day traders : 

  • First, make sure you already have an Indodax account!
  • Second, make sure your account is verified! After that, you can enter the Indodax Marketplace page where there are lots of crypto assets listed on Indodax! There are more than 150 crypto assets that you can choose to trade.
  • Third, with more than 150 crypto assets available, you really are welcome if you want to buy and own all the crypto assets, hehe. However, it is highly recommended that you learn the fundamentals first before you buy or sell any crypto assets you want!

Well, here it is! For those of you who like stalking, fundamental analysis must be your favorite thing! Because, this fundamental analysis serves to assess or understand the value of a crypto asset.

Here, your stalking skills will be very useful, because you have to find out everything about the crypto assets you want to trade. Starting from who the founder behind the crypto asset is, what projects will be carried out in the future, what is the value of the market capitalization and market supply and demand, to the number and volume of transactions! Anyway, fundamental analysis requires good stalking skills to make sure about the utility and health of the crypto asset network you want!

  • After your stalking is complete and you are absolutely sure of your chosen crypto asset, that is, now is the time to buy! Don’t worry, you don’t have to buy in bulk! Because, at Indodax, you can trade from just 10,000 Rupiah!
  • If the desired crypto asset has been purchased, don’t forget to set up your trading plan, OK! There are no exact rules for this, because your trading plan depends on your personal compatibility.

However, there are lots of trading plans that you can use, one of which is by using the Stop Loss or Limit feature! This feature aims to minimize your losses, so you don’t lose too much if the crypto asset you choose is going down deep.

  • Next, the sixth tip or the last tips, which is to determine your trading strategy! There are 3 trading strategies that you can use if you want to get optimal profit.

3 strategies that can be used:

  • Scalping strategy

Scalping is a short-term trading strategy with daily to weekly time frames. This strategy is carried out to buy crypto assets, and then sell them in the shortest possible time with the aim of obtaining maximum profit and can be realized quickly.

  • Swing trading strategy

Swing trading is usually chosen by traders when they are in sideways. That is, buying and selling crypto assets are carried out at certain points in price reversals to receive optimal profits.

  • Rally strategy

This rally is a trading strategy with the concept of “buy low, sell high”. Usually, this strategy is used when the issuer has issued a discount which traders will quickly buy as capital to buy the crypto asset.

The three strategies above can really help you choose which one is the most suitable for your trading plan! Or, if you want to try everything, that’s fine too, it all depends on your objective!

Those are some tips and strategies for those of you who want to be a day traders, hopefully they are useful!

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