But day trading crypto can be very risky for beginners, and it generally requires traders to go full-time crypto in order to become successful. However, with Moralis Money, you can access real-time, on-chain insight to make the most of day trading crypto without going full-time!
Moralis Money – Try It for Free
To become a successful crypto day trader, you need accurate, real-time, on-chain data. The easiest way to get it is with Moralis Money.
Using Moralis Money is free; you don’t even need to connect your Web3 wallet if you don’t want to.
No signup. No personal info. And no BS.
In the widget below, you can experience Moralis Money yourself firsthand. Get started with premade filters. Or create your own custom search queries to find the coins you’re interested in. For instance, applying the Liquidity filter can be helpful for day trading crypto as coins with high liquidity ensure that you can sell and buy instantly!
With Moralis Money, you can stay one step ahead of whales and sites like CoinGecko and day trade like a professional!
100x Gains with Altcoins and Moralis Money
Our team of experienced traders and Web3 developers who created Moralis Money discovered MATIC, EGLD, and, most recently, HEX. Finding these tokens before everyone else allowed us to make serious returns:
- We found MATIC when it was just trading at $0.003. A few years later, the price skyrocketed to $2.9 – a 965x increase:
- We bought MultiversX (EGLD) at $9.18 and sold at $524.58 – a 59x price development:
- We recently found HEX at the beginning of the year, trading at just $0.017. A couple of months later, we sold at $0.15 – a 8.8x increase:
If you want to see similar gains in your crypto day trading efforts, you can do so with Moralis Money!
To learn more about Moralis Money and crypto day trading in general, read on as we cover this in further detail!
What is Day Trading?
Day trading is an active strategy involving purchasing and selling assets within a day. In doing so, traders want to capitalize on short-term price movements occurring in a day. Or during a trading session.
Day traders in the conventional stock market make several trades in a single day. They hope to end up with higher holdings than what they started the day with. The same principles apply in the crypto market. However, keep in mind that crypto day trading generally is much riskier. But it also holds the potential for higher rewards!
During a trading session, the day trader’s goal is to leverage rapid price changes to make profits. This makes day trading a potentially highly lucrative strategy for crypto, as the market is extremely volatile.
Day trading crypto generally begins by defining clear strategies and picking the right assets. In doing so, you can create simple, repeatable trading processes that can be applied in many situations. Here, profits come from many trades during the same day rather than big long-term deals.
However, it is essential to know that day trading crypto can be risky, especially for rookie traders. This is why you need proper tools and systems to become a successful trader.
This is where Moralis Money enters the equation. Moralis Money gives you access to real-time, on-chain data to help you find the right assets. Plus, you can make correct short and long-term crypto predictions!
Day Trading vs Scalp Trading Crypto
Another popular strategy often confused with day trading is scalp trading. So, what is the difference between the two?
To understand how day trading and scalp trading differ, let’s start with their similarities:
- Both day trading and scalp trading crypto emphasize short-term perspectives. The philosophy is that overnight trading sessions present risks that can lead to losses.
- You generally need good money and risk management strategies to succeed when day trading and scalp trading crypto.
- Day trading and scalp trading can be applied to many assets. This includes stocks, currencies, and crypto.
Now, let’s explore the differences between these strategies:
- When day trading crypto, traders can hold assets for several hours. However, when scalp trading crypto, assets are usually held for less than five minutes.
- A scalp trading strategy involves a higher quantity of trades. Often hundreds of transactions every session. Day trading usually involves fewer.
- Day traders can utilize concepts like fundamental and technical analysis. This is less useful in scalp trading.
Nevertheless, the time perspective is the most significant difference between day trading and scalp trading crypto. Scalp trading crypto often involves more trades and holding assets for a shorter period.
What to Look for When Day Trading Crypto
When day trading crypto, you need to look for three vital things when choosing assets:
- Asset Liquidity – Asset liquidity refers to an asset’s ability to be converted into cash without affecting the price. High asset liquidity suggests that you can complete sell and buy orders fast.
- Market Volatility – High market volatility provides opportunities for greater profits. Day traders’ profits come from an asset fluctuating in price. High volatility means lower lows and higher highs.
- Trading Volume – The amount of crypto being traded within a given time.
In combination with this, day traders should also know what the protocol does, the cryptocurrency’s role, governance, size, etc.
But why are people struggling to find such assets, and even when they do, why do they fail to take hold of profits?
Why are People Failing When Day Trading Crypto?
When it comes to trading crypto, there are three common hurdles limiting people from making serious gains:
- FOMO – Traders tend to trade emotionally. As such, they make uninformed decisions and experience FOMO at the top, only to see their assets fall shortly after investing at the top.
- Scams – Casual traders can fall victim to scams like rug pulls. This is a result of traders failing to identify scam coins as they lack data and information.
- Time Limitations – Keeping track of assets and coins is a full-time job. Crypto never sleeps. And with the market being highly volatile, opportunities come and go fast.
So, how can you avoid these three hurdles to become a successful trader?
Day Trading Crypto with Moralis Money
Moralis Money is the best tool for day trading and scalp trading crypto!
Moralis Money has three core features: Token Explorer, Token Shield, and Token Alerts. These three features are specially designed to combat the issues above. Let’s briefly explain why!
- Token Explorer – With the Token Explorer feature, you can stay ahead of the crowd when day trading crypto. Make timely and informed decisions regarding which assets to buy and when. With access to detailed, irrefutable, real-time data, you never need to FOMO into buying an asset again.
- Token Shield – Avoid scam coins with Token Shield. This gives you an extra layer of defense against exit scams and rug pulls.
- Token Alerts – Use Token Alerts to set up email notifications when something of interest happens on-chain. Detect and act on opportunities before everyone else. As such, you won’t need to have your eyes stuck to your screen and be full-time in crypto to find the next crypto asset to buy!
With these features, day trading crypto has never been more accessible, and you can easily find the next big crypto to buy!
You can also use Moralis Money to better understand the market. This will help you answer questions such as “why is crypto down today?” and “when will crypto go back up?”
Now, let’s look closer at how these features can help you when day trading crypto!
Token Explorer: Find Assets for Day Trading Crypto
With the Token Explorer feature, you can find the right assets for day trading crypto in a heartbeat!
But how does it work?
Step 1: Open Token Explorer and add the Liquidity metric. Let’s also apply the Increased by at least filter to find coins that have had a positive injection of liquidity greater than $10,000 today:
High liquidity is good as it allows us to sell coins quickly when we need to. So, a positive injection is great for day trading crypto!
Step 2: Let’s also apply the Holders filter to get tokens that are gaining new holders. From this, we can assume that people are trading the tokens a lot, which can be an indicator of high volatility:
High volatility is also good for day trading crypto. It gives more opportunities to make gains on fast trades.
Step 3: Finally, we can also add the Security Score metric to only get tokens with a DEXT score greater than 70:
By adding the security filter, we can also remove potential scam coins.
That’s it; this is how easily you can narrow your searches to find the crypto most suited for your day trading strategy!
Note: The above walkthrough is only an example of how you can find the best crypto to buy right now. We always recommend doing your own research, as this is an essential aspect of day trading crypto. Also, DYOR has never been easier, and doing your own research is essential as none of the advice given herein can be considered financial advice! So, make sure you try Moralis Money straight away!
Token Shield: Protect Yourself From Scams
While Token Explorer helps you find the right assets for day trading crypto and understanding the market, Token Shield protects you from scams.
When using Token Explorer to find new crypto coins early, you will notice a shield symbol attached to each coin. The shield displays the coin’s DEXT score, which is an indicator of how safe the coin is:
A score of 99 is the highest, and 1 is the lowest.
You can also read more about the DEXT score by clicking on the shield symbol. It will take you to the page below, where you will find information about the different ranges and how the score is calculated:
Note: This is the first version of Token Shield. The Moralis Money team is continuously improving this feature. In the coming months, the amount of security information will increase 10x.
Token Alerts: Never Again Miss an Opportunity
Token Alerts is the last feature. With this tool, you can set up alerts for your saved filters. In doing so, you can stay informed about new opportunities. What’s more, you don’t need to be full-time in crypto to do so.
This is how you can save a search query:
From there, you can click on the ”Account” tab and set up notifications by hitting the bell button:
Note: Token Alerts haven’t launched yet. Fortunately, the launch of Token Alerts isn’t far off. So, connect your Web3 wallet now, save your search queries, and be among the first to try Token Alerts when it is made publicly available!
Go Pro to Optimize Moralis Money for Day Trading Crypto
Are you aware that you can use Moralis Money entirely for free? You don’t even need to connect your Web3 wallet if you don’t want to!
However, we recommend connecting your wallet. This will provide more features, allowing you to get the full Moralis Money experience.
For example, by connecting your wallet, you can collect Moralis Money Beans, save search queries, and potentially upgrade to the Pro plan!
If you are serious about day trading crypto, we highly recommend checking out the Pro plan. Opting for the Pro plan provides several advantages, helping you get an edge when day trading crypto.
For instance, you can save more queries and filter for shorter timeframes. This includes daily and hourly, meaning you can get real-time data for more periods, helping you make better crypto day trading decisions.
You should also take the opportunity to subscribe to the Pro plan as it is currently on a discount. When Bitcoin hits $30k again, the price automatically increases by 50%. However, if you subscribe now, we’ll honor the discounted price for as long as you remain subscribed!
Summary – Day Trading Crypto
Day trading can be a lucrative endeavor. However, it can also be risky without proper tools and systems in place.
This is where Moralis Money enters the equation, giving your irrefutable, real-time, on-chain data so you can become a successful crypto day trader and find tokens before they pump!
With Token Explorer, you can find the best assets to buy. With Token Shield, you can avoid crypto scams. Lastly, with Token Alerts, you’ll never again miss the next opportunity! Use these features to fully capitalize on the next bull market and easily find tokens that will 100x or even 1000x. So, take control and start trading smarter and quicker with Moralis Money!
You can even try Moralis Money for free; you don’t even need to connect your Web3 wallet. That said, if you want to leverage the full power of Moralis Money when day trading crypto, consider the Pro plan.
You can now get the Pro plan at a discount. So, take the opportunity before Bitcoin returns to $30,000 and the price increases by 50%!
If you found this article interesting and want to find similar content, check out our guides exploring a HEX crypto price prediction or a MATIC crypto price prediction.
Also, did you know there is more to Web3 than trading crypto? Become a blockchain developer today with Moralis.
With the Moralis Web3 APIs, you can build Web3 projects easier than ever before. For instance, check out our guide on how to create a blockchain explorer in no time!
For more information about becoming a Web3 developer, check out the Moralis Web3 docs!
