Becoming a day trader is painful and tiring, but it is really worth doing it in some cases. To become a day trader, the person must have time for this job. As we all know how time-consuming day trading can be, we must spare a good amount of time in crypto markets. After having enough time, you must always look for pumps and dumps according to the news or social media. This is a very critical rule that you must apply. You have to be aware of all situations about your favourite coins or tokens. Another thing that applies for both holders and day traders is that you keep track of what you gained at the end of the day. This way, you can always decide what is better for you and have complete control over your portfolio.
To track your portfolio, you can use sorts of things such as Microsoft Excel or Crypto Trading Bots. For example, in Microsoft Excel, you can always calculate your earnings at the end of the day via an excel calculation. After these calculations, you must ask yourself if you are always profiting from what you are doing each day. This way, you can correct your mistakes and do better at day trading.
It is also essential that you choose your crypto platform carefully for day trading. You have to consider the fees of selling and buying. If you pick a platform with higher fees, it will be a problem for you in the long term because you will be spending your earnings on the fees for buying & selling crypto. With all things being said, you must pay attention to the crypto market and your portfolio a lot. This is why day trading can be really time-consuming if you have an extra job. But if you have time for day trading, you will have better results from it.