Becoming a better day trader is a lifelong ambition for many of you, and I mean this as genuinely as possible, as making trades that are consistently profitable could mean the difference between a vacation to the Bahamas, or a lonely drinking epidemic at your local bar. So, I’ve compiled five things that may help you, the cryptocurrency day trader: 1. Set stop loss orders, so you can mitigate your exposure to a poor performing trade. Becoming too wedded to a trade that’s losing money, only leads to further rationalization for why it may work out, but by the time the tides turn, and the market recovers, you’ll lose out on various opportunities to earn profits from other trades over the same timeframe. 2. Don’t become dependent on external validation for a trade you’ve made. All too often, I receive messages from holders of specific crypto currencies or tokens, looking for a confirming opinion. If you need the support of others to validate whatever crypto currency you own you could fall prey to confirmation bias, i.e. looking for opinions that support your stance, or make trades based entirely on crowd wisdom. 3. Keep track of pricing changes among the major cryptocurrencies. Not looking for patterns in price movements diminishes the likelihood of finding promising trades. Too often, the day trader doesn’t keep a close eye on markets, and misses out, because they were either preoccupied or just not paying attention. 4. Avoid over-trading, because if you trade too much, you’ll pay more in transaction commissions, which reduces the likelihood of a positive P&L (profit and loss) balance at the end of the day. Remember, you must pay transaction spreads due to the cost of electricity for block processing on various cryptocurrencies, so absent of a meaningful trade set-up it’s better to not trade. 5. Take breaks between trades, as cryptocurrencies are a 24-7 market. I.E. the market is always open, and there’s no conceivable way of staying up every hour of the day to make profitable trades on intra-day swings. Fatigue will eventually catch up to you, which will lead to irrational trading behavior that could rack-up losses easily. So, remember to close out you trades and move to cash when you start experiencing extreme fatigue. I hope you find some of these tips helpful, as there is meaningful upside from day trading cryptocurrencies, but it’s contingent on the strategy, and whether you can adhere to some basic rules of trading. If you want to learn more via video courses with my help, and the help of crypto millionaires, bitcoin foundation founders, and various other crypto pioneers who are at the forefront of news, information, and methodologies you’ve got to join the Bitcoin Crypto Mastermind program. We also provide live events, one-on-one consulting, and private communities where knowledgeable experts, and experienced traders interact with each other, share ideas, and keep a level of inclusion that can be found nowhere else. The program will remain open for a select period, so enroll as soon as possible.