Hey Guys,
Today was day 1 in my Journey learning to Day Trade Crypto Currency. I wanted to document my day to help new people learn how to start trading, this is basic but will get you going.
I have been watching a lot of videos and here's how I started:
Deposit: ( Getting your online online) I deposited money to CoinBase ( Super easy process ) buying Ethereum. Ethereum is the next biggest coin behind Bitcoin and not as volatile.
Trading: ( You can only buy and sell 4 coins on Coinbase, to day trade you need access to Alt Coins ) So I have set up a account on BInance ( probably the top trading site, with a awesome app )and sent my Ethereum from CoinBase to Ethereum for a small fee.
Wallet: I set up a mobile wallet called JAXX , theres online wallets, mobile app wallets and the most secure being cold wallets being stored on a flash drive. This is were you can store your coins if you remove them from your trading site, not totally needed at first.
So now I'm set up to trade, I watched a few videos about using Binance, how to read all the graphs so I understood what was going on. There's some great videos on Day Trading, take the time to learn the basics.
So I bought some POE in a Dip and Sold on a run, making little money, I will do this a few times for Practice till I feel comfortable and then I'll use a larger $ amount.
It was a good day, start small and build your way up.