/biz/ - Business & Finance

>>13020943
nice larp

>>13020943
kek. one bad trade and your earnings get evaporated. it will happen to you, its happened to every day trader

>>13020958
can confirm, lost 1 month gains in 2 weeks

>>13020958
not going to happen with stop loss

>but muh flash crash

I stay the hell away from clearly pumped coins

>>13020950
why

>>13021405
all of them are clearly pumped you complete idiot mongrel

>>13020958
>13020958
Can confirm. Hapened to me as well. Went +40% trading Tesla across Q3.

Then I tried trading smallcaps, and lost 50% when corrupt management suddenly dilluted shareholders by 50% in a quarter. 1.4*0.5 = 0.7, so I ended up down 30%.

>>13021421
So it's tradings fault you can't do proper position management?

K

>>13020943
Good job, OP and don't mind the haters. This was my progress before I quit using blockfolio. Shit is much higher now and just keeps going. Day trading is easy for a select few with the right mindset, skills, and time. But for the other 99%, it just looks like magic so they scream LARP. Just keep doing what you're doing and when the next bullrun comes, we'll both be rich. And the even more beautiful thing? Even if there is no more bullrun, even if bitcoin just grinds down to dust, all we have to do is accumulate faster than the fall. Good luck.

>>13020958
Can confirm has happened to me

>>13021632
Impressive. You doing intra-day?

>>13021662
I trade time frames from fractions of a second to some that take weeks. A lot of my stuff is with a bot I built but the bot only trades stuff that I learned by hand. I come up with an idea, verify it works and if I can automate it, I do. I do 3 way arbitrage, support/resistance, base breaks, short/long btc on Kraken, flip pending delisted coins, etc. Whatever has enough volume to be worth it and I feel I have an edge I go in. Made 2 bitcoins this morning on what appears to be an exit scam but I just got in and got out quick. You do this for a while, you start to see stuff.
Be careful though, you get a little too good and some exchanges will hit you with KYC cuz they thing you are scamming. I got hit with that on tradesatoshi recently.

>>13021203
That's not a day trade is it

>>13021746
Nice, I mostly just do base breaks and some pullbacks. My equity curve is steady but alot less steep.

>>13021746
you only trade based on charts?

>>13021766
Fellow QFL bro. I started there though I've branched out since then. The man is a fucking genius. I'll never figure out why he gives it all away.
>>13021783
I started only going on volume and price action but now I do research and tune my bot based on how I feel about a coin or how an exchange typically acts. The exchange thing is huge cuz different ones just act differently. Like you can trade a certain way on Binance you could never get away with on, e.g., Yobit even with the same coin. My bot has some custom indicators I came up with too.
But one thing I insist on is whenever the bot buys something, a chart must pop up and if I look at it and don't like what I see or feel like I need to buy more I'll intervene. If I'm sleeping, the bot handles things but if it gets in trouble, it sounds an alarm to wake me up but that's rare.
I make bank cuz this is literally all I do for 15 hours a day and I'm a programmer so when I have an idea, there aren't any barriers to making it happen.

>>13021859
Any tips/guides for a lesser trader looking for high risk high reward scalping with some of the gains made from this alt season? I've been trading for a few years but I didn't start using bots until BitUniverse rolled out grid trading on their platform a few months ago.

>>13021859
Wanna trade my money anon? =)
Pretty please

>>13021859
Damn I need to start on the automation. I wrote myself a scanner but that's all.

How long you been trading for?

>>13021859
so the bot basically buys at support and sells right back after it "pops"?

>>13021859
What do you do if you get caught up in bad positions?

>>13021405
>not going to happen with stop loss
wow OP i never realized there was a magical way to never lose money day trading. plz tell me more.

>>13021961
>Any tips/guides
Search youtube for quickfingersluc. Best free crypto trading advice anywhere bar none. Watch all of his videos and do everything he says.
>>13021974
>Wanna trade my money anon? =)
Worst thing about crypto is liquidity. Like the great trader Yogi Berra said, the more money you have the less you make. This is why all pay to play bots are a scam. I know you didn't ask but I thought I'd throw it in anyway if you get my drift.
>>13021976
I've just been doing it since the early/middle of 2017 and only got really good around the first part of 2018 so I guess, shit, a couple of years now. Damn, doesn't seem like that long. Automation is the key but like I mentioned, I only automate what I can do by hand. Best tools are Python, the ccxt library https://github.com/ccxt/ccxt/wiki/Manual for all the exchange apis, and matplotlib for charting.
>>13022003
>buy at support
Depends, some coins I buy at support, some below, and some I'd only touch if they were at 1 sat lol. It depends on the coin and what exchange it's on, what the volume is, how long it's been around, etc. I try to take everything I can into account to dial a price in just right. Can't get too specific though, cuz, well you know. But suffice it to say, buy as low as possible and sell less low.
>>13022012
>What do you do if you get caught up in bad positions?
I have a thesis going into every trade. There's always a sell target and a very specific reason why I bought where I did. If I get to the point where I can no longer articulate why the coin should go higher than where it's at then I sell. No fucks given and no regrets.

>>13022152
Thanks m8 you're a legend.

>>13022003
yeah this is how most people program their bots. i personally use a system where it's looking for market movements on 15 and 30 min candles. i'm only looking for about 0.7 profit before selling though i have a profit trail setup to sometimes get anywhere from 1-8%. You need to also make sure you find ways to get out of bad trades especially if it's all automated some people prefer a straight stop loss others build ways of DCA'ing out. The DCA way feels like the safer bet but if the market spikes either way you can get stuck holding bags for one to three weeks depending on the shitcoin. That means your bot lacks available funds to buy new positions so its up to the trader to figure out if they want to free up the funds or try and DCA their way out of it.

>>13022204
>if it's all automated some people prefer a straight stop loss others build ways of DCA'ing out.
This is a good point. If I'm in something and it's wallowing around at the bottom, I'll try to catch some of the little mini spikes and sell a little then reload when it drops back down. As long as my thesis holds as to why I think it'll go back up to my real target, I just look at the little buys and sells at the bottom as free money. Sometimes it'll stay down long enough that I'm already in decent profit before it really rises at all so when it does make it all the way up I've really banked.
I'd say for noobs, it's probably a good idea to try to sell a little as your coin goes up. Start small then sell larger and larger chunks as it rises. If it bounces quick like say a quarter or half way, be sure to sell some as you can always reload if it drops back down. Personally I try to make as much as possible so I'll wait until it goes up before I sell much of any and sometimes that bites me but I make a lot more than I lose that way. Had I played everything like that in the beginning though I'd have gotten rekt for sure.

>>13022271
>I'd say for noobs, it's probably a good idea to try to sell a little as your coin goes up.

no one here will listen to that unfortunately. the other piece of advice i'd add to yours is maybe view automated trading in terms of simply accumulating a base currency. This way you won't be too precious about the shitcoins you're buying as you're only looking for very small scalp trades.

>>13022152
Thanks anon, I finish uni this semester so it'll be good to have a broader knowledge base after I binge this and have the time for all day trading.

>>13022019
If you'd actually read the comment I replied to you'd know that I meant that my earnings won't be evaporated by a single bad trade.

obviously bad trades will and do happen, but I don't classify -1%-1.5% as something catastrophical. It's all about winning more often than losing.