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What is the difference between day trading and swing trading?

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In day trading, you are opening and closing positions in the same day.

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That is why it's called day trading.

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In swing trading.

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You open your position and you wait for several days, weeks and even months to close your position.

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Day trading is more risky because you have a lot of trades during the day, but it is also more rewarding

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because you can make more money when you are trading more.

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While swing trading is less risky and you don't need to do the things fast, you can analyze the market,

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open a trade, and then wait for days for a trade to go your way.

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To start day trading or swing trading and even investing, you do not need a lot of money.

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You can start with just $100 or even less.

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You just need to find an exchange.

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We recommend Bybit because we use Bybit everyday for trading and investing, and they have really simple

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platform for trading.

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Once you open your account, do the KSC and deposit money.

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And we made a video for you.

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I already talked about it.

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You have it in the description with a step by step instructions.

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You can start investing in trading.

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If you want to invest, you're going to use spot account.

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Spot account is a place where you buy different coins and tokens without leverage.

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For example, you want to buy a part of Bitcoin.

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You're going to choose a Bitcoin.

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Choose the amount you want to buy for.

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You could see here I put 20 USDt.

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Make sure you choose a market order and just click buy.

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And you can do that with many other coins or tokens you can find here.

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Coin or token you want to invest in for example Ethereum, Solana, XRP or any other token.

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Put the value you want to buy for and click the buy button.

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Once you want to sell, you're going to click the sell button.

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Choose the amount you want to sell.

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You can sell a part half or everything and then click the sell button to confirm for expensive tokens

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like Bitcoin and Ethereum.

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You don't need to buy the whole token, you can just buy the part of the token.

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As you can see here, I just bought the part of Ethereum for $480.

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Once you buy your tokens, you could go to assets Assets Overview and see the tokens that you bought.

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You could see that for $480 I got 0.19 of Ethereum.

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I also have some near protocol in this account, XRP and some other tokens and coins.

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If you want to trade cryptocurrency, you can go to the option trade and Find futures.

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Futures have the same platform as spot account.

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They are just letting you use leverage up to 100 x.

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It is very easy platform to use.

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You can explore.

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You can find a token that you want to buy.

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For example I'm going to type in Ada.

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You can analyze the price of the token.

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You will see here that we have high lower high lower high.

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So it looks like the price is going down.

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I'm gonna put 2000 Ada in short.

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If you go down, you can see your open positions and open orders.

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If I want to close my order immediately, I will make sure that I have 2000 other tokens that I bought

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market order.

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And I will just click buy.

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Another way to close position is to set a take profit and stop loss orders.

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You can go here add.

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Let's say I want to set my stop loss at 0.71 and my take profit at 0.70.

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I will type in 0.71 and 0.70.

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I will click confirm.

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And now I am protected.

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When I go to edit, I could see that in this case I'm risking $5 to make $15.

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So in this case my risk to reward ratio is 1 to 3.

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And I recommend you when you start trading start with just a few tokens.

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Buying and selling just to see how the platform works, to practice your skills, to practice your strategies.

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And once you start making money, you can do the big orders and possibly make more money before you

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start.

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You can also practice on demo account.

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It is the same platform.

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You just don't risk any of your money.

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You're trading with a fake money and just practicing your skills.

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If you just start trading nonsense and without any goal, you are probably going to lose money.

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So you need a trading strategy.

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That's why in the next lesson, we are going to give you a simple backtested trading strategy that actually

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works.