/biz/ - Business & Finance

I make a lot of money from day trading. I log in every morning and if it goes down, I buy and then if it goes up I sell.

What the hell OP? This was one of the best periods to trade in the last month

>>15156465

somewhat true

real daytraders actually majored in finance, worked on wall st for a few years, then went with a prop trading firm to get margin accounts and settle for 3-4% profits and can make a very comfy income

/biz/ tier daytraders are actually pump and dumpers who can't use any financial models or forecasting, not because they didn't or couldn't learn but because shitcoin trading as founded on nothing but hype, fud, and luck.

they really should get an actual job

>>15156465
I'm not seeing a problem. Maybe you just don't have what it takes anon. Red dots are sells, green are buys. I been doing this a while though.
In seriousness, it just takes practice so don't give up. Just start small.

>>15156465
daytrading is a meme desu, but you don't wanna be daytrading bitcoin at all, unless you use leverage

>>15156508
with such bad volume? not really. may was a great month for trading

>>15156465
honestly, making $ day trading is easy. Kepping your position, while making $ is hard.
I lost a lot of bitcoin being skeptical. But made a lot more $ being optimistic.

>>15156501
found the retard and the larper
>>15156465
there was a long term study on this. the stats are less than 1% of day traders are profitable after 3 years. day trading is a meme you can't beat the quant trading firms.

>>15156636
Nah, that's just the "studies" that the daytraders put out. They don't want you getting rich.

>>15156560
what are your position size in each trade? i bet it's very small

>>15156636
>there was a long term study
Academics are notoriously bad at trading. Not gonna take their advice. I can only speak for myself and maybe I'm just lucky but I have made a shit load day trading. And it wasn't just a few big trades, it was from thousands of small wins so you would think the law of large numbers would wipe me out if it was impossible.
>>15156692
>what are your position size in each trade? i bet it's very small
It's the BTC/USD chart so I go 5-10k at a shot. Basically trading 1/2 to 1 BTC a time depending on how I'm feeling about the action. And I trade multiple times a day so I probably put at least 50-100k worth of volume. And that's just BTC/USD. I trade on every pair across a dozen exchanges with a bot and manually.
I get it done, anon.
Pic related is the volume of each of my last few trades. 0.1, 0.5, and 1.0 BTC a shot.
Note that due to how high we are and that we are in a range, I'm actually trading small. Lower down, I was going 5-10 BTC at a time and if we move up I'll go back to that.

>>15156465
Clealry you aren’t the sharpest, day trading requires and thrives on volatility. That is not to say that beginners and fools won’t lose their shirts attempting these markets, however.

>>15156749
upload your order book then

pro tip = you won't

>>15156780
upload your order book we will see if you are a successful daytrader

oops, you are not.

stop dreaming, if goldman sachs use algos instead of humanoids there is a reason

>>15156781
>upload your order book then
I'll do better than that. Give me a few minutes and I'll make a zip file with screen casts and txt's of my entire strategy, every exchange I trade on and copies of my private keys so you can verify everything for yourself. Give me just a few..

>>15156813
Did I claim to be a daytrader? No. I’m merely pointing out the most basic market conditions day traders seek.

>>15156795
projecting hard

>>15156813
typical loser coping

I did not asked you your private keys... You can just screenscap your order book and post it anonymously here bro...

strange how anyone is able to prove he is successful daytrading

but "BUY MUH COURSES"
"BUY MUH INDICATORS"
"JOIN MY TELEGRAM"

>>15156842
I think you replied to the wrong fren, guy. we arguing the same position here
>>15156869
>winners have to "prove" themselves to losers
That not how it works mang

>>15156560
This is kraken right?

>>15156636
ah yes studies made by scientists. They dont want you to get rich

>>15156465
Whoever cant make money day trading in this market is a moron and should probably just put their money into a low interest bank account.

>>15156892
Yes, you are right. My reply was intended for the OP.

>>15156925
t. posting from his 120 meters yacht in Marbella

stop dreaming faggot you are still in your mom's house and have a net worth >100,000$

>>15156908
Yes sir. Not my favorite exchange but it's the focus for today. Easy to move orders around right on the chart so for the fast action we've been seeing since I got started this morning, Kraken is the shit. I used to use Bitmex which has the same feature but they kicked me off.

>>15156465
Plebs don't know how price moves and market structure, once you get it you can start making big money. Not easy to learn of course,but possible.

>>15156966
where is your ferrari bro? don't you have at least a bmw? a macmansion?

HOW?

ITS SO EASY TO DAYTRADE

>>15156986
I just said it's not easy retard

>>15156749
>Academics are notoriously bad at trading. Not gonna take their advice.
they took the data out of a broker and had access to the trade history of thousands of traders. less than 1% were profitable after 3 years.
Post your trade history if you want me to believe you.

>>15156986
>ITS SO EASY TO DAYTRADE
https://english.stackexchange.com/questions/396030/what-is-the-difference-between-easy-and-simple

>>15157004
I've posted enough between my trades today and my position sizes. Funny how the goalposts keep changing. Here it is, believe whatever you want, the money will still be sitting in my bank account.

>>15157024
if you dont post your trade history i know you're full of shit like 99% of day traders. funny how you just post carefully chosen buy and sells, position size, but aren't willing to share your trade history. that says it all.

>>15156869
Holy shit youre an irrational douche

Oy vey, it’s too easy for de goyim to access the markets these days. Time to set day trading equity requirement to $100k minimum heh heh heh

>>15156465
absolutely the best advice ive seen from biz aside from chainlink. youll get lucky once or twice but to do it as a job is a complete joke.

>>15157072
>if you dont post your trade history i know you're full of shit like 99% of day traders. funny how you just post carefully chosen buy and sells, position size, but aren't willing to share your trade history. that says it all.
Okay bro, carry on.

literally just buy the dips at 25x leverage and i've made 4 btc this week doing this

OP is retarded and also a faggot

>>15156749
Are you currently long or short, based anon?

>>15156813
>Give me a few minutes and I'll make a zip file with screen casts and txt's of my entire strategy, every exchange I trade on and copies of my private keys so you can verify everything for yourself
Going on 35 minutes now

>>15157255
>Are you currently long or short, based anon?
I'm about 2/3 of my account in cash right now. Really expecting a dip back down to 10k or so. Though don't quote me on that as one thing I've found that helps me be successful is I trade the chart as it is, not how it was or how I want it to be so depending on how the whales paint it in the next day or two, I might think we'll never see 10k again. It depends on volume, support, and to a much lesser extent resistance since I find resistance so much harder to trade against than support.
But to answer the questions, I'm still 1/3 in bitcoin and will continue to sell if and when it rises though I suspect the pullback is coming soon.
>>15157316
Still getting it all together. Downloading my trade histories from the exchanges as we speak. It's so much data though I'll probably end up pulling it on Mega and just making a link. Probably just make a new thread too with the whole thing in the OP to make sure it all gets disseminated as widely as possible.

>>15156465
I trade that shit, albeit it's not crypto, and its not daytrading, it's swing trading. But it can be VERY profitable. You are correct, however, I do not know anyone who makes a living from trading, unless I count myself.

>>15157349
>it might dip back to 10k, or it might not
fucking deep

>>15157620
>>it might dip back to 10k, or it might not
>fucking deep
What, you expect me to just start making shit up? This is a perfect example of why people can't make a dime day trading. Nobody has a crystal ball. No matter what you think regarding the future of a chart you are probably wrong with that probability exponentially decaying as whatever future time you think you're projecting to becomes the present. I do not know what the price of bitcoin will be tomorrow, next week or next year and neither does anybody else. I hedge my bets medium to long term bets based on my intuition which surprisingly seems to be fairly reliable. My only long term bet on bitcoin is that it will be much higher than it is right now. Do I know this for a fact? Fuck no but every salient fact I have gathered leads me to believe that is so. As far as my trading style, I'll say it again. I trade the chart as it is. Right now. There are certain patterns that have a greater than chance probability of working out a certain way and I trade those to the hilt. That's all I can do and it works.
My opinion of 10k is based on my belief based on what the chart looks like, the macro-issues surrounding crypto right now and the trade tension between China and the US specifically. I think Trump will tweet, send shit into turmoil, Xi will respond, Chinese people will dump the Yuan and go into bitcoin which is easier for them than a lot of forex due to currency restrictions in their country. Then Trump/Xi will come back a few weeks later with a "Just kidding tee hee" and bitcoin will deflate again when the Chinese go back to the Yuan.
Do I know these as facts? Fuck no, again, no crystal ball but it's what I believe and my track record is better than even. Even then, I'm hedged with 1/3 of my money still in BTC and 2/3 in cash. That about represents my confidence in the scenario as it is this minute. That could change in 30 seconds. Good luck.

>>15156560
so here you bought at 11.9 11.8 11.7. it went to 11.2. The rejection to 10k could have happened here, you didnt sell. you were willing to baghold back to 10k?

>>15156465
You can make easy money day trading. All you have to do is watch for the good dips and flash crashes then you buy the dip and then sell when it goes back up 5-20%. You just have to make sure you aren't "catching a falling knife" and you can usually tell that by looking at the trade volume.

>>15156508
>no discernible patterns whatsoever
>best period
nigger pls

>>15157833
jeez it's so easy right, i wonder why people dont become millionaires daytrading

>>15157862
they made 300$ last month, mommy is proud of them.

they promised her they will have a lamborghini soon.

>>15156560
>>15156749
>>15156749
>>15156749
>>15156749
What program is this? platform?

>>15157904
bitcoin wisdom or kraken i don't know but it look like shit

Isn't it easier to just arbitrage?
Eth for one.

>>15157927
no you need the infrastructure and the brain power.

>>15157832
>The rejection to 10k could have happened here, you didnt sell. you were willing to baghold back to 10k?
Not really. Like I mentioned above, I trade the chart as it is. I trade my stack as it is, not how it was prior to the last trade or now what I might "lose" or even "gain" on the next trade.
I simply look at the chart and if the setup suggests it is time to sell, I sell, if it says buy, I buy. And I do it in volume proportional to the size of my account in context of what the chart is telling me. I hope I'm being clear.
So if I had a "bag", the reason I would have it is because if I had done anything else, though it may have worked in this specific situation, I am in reality acting contra to the probabilities of that specific setup. It works this time but in the long run I get rekt. That's what you have to do. Trade what is. If you trade the chart according to the probability of outcome and you only take setups that have a positive expected value you will win in the long run even if a "rejection to 10k" happens when you don't expect it.
No fear, no euphoria, just be and do and execute. That is how it's done.
>>15157904
Kraken. When I'm manually trading bitcoin I do it directly on the exchange. When I trade alts, I usually use a program I wrote myself with Python, ccxt, and matplotlib. Else I'm using a bot I wrote which actually makes the majority of my trades though it does not make the majority of my money. The latter is when I trade manually a pattern the bot isn't advanced enough to work but still has a positive expected value.

>>15157937
>infrastructure
?

>>15157974
different bank accounts in different countries, algos and strategies depending on the exchanges you trade with. you can't just beat the hft firms as an amateur.

>>15156465
i will say it is difficult but not impossible, even the best day traders will have down days. but it is possible to be profitable on a monthly basis such that it replicates a monthly salary from a normal job.

pic related is my last screenshotted trading day before i got hospitalized. cant look at past trades cause bitmex deletes order histiory every month ( fucking arthur i swear)

>>15157862
It's easy but its very time consuming to find the low risk ones. I don't think post people have the patience to watch the charts for 12 hours a day. You will also hit slow periods where you might not even see any good dips to buy for a few days etc.

>>15158120
>>15157862
Also I think most people fail because they end up losing their patience and making a bad trade during slow periods or they end up getting caught up in FOMO and buying too high etc.

daytrader here, i make a gazillion of money every day, then bad me logs on drunk on night and destroys all my gains
How do i stop th

>>15158156
>daytrader here, i make a gazillion of money every day, then bad me logs on drunk on night and destroys all my gains
Maybe change your drug of choice to something a little less likely to make you do that. Some drugs have even been touted as *enhancing* performance. Not that I'm advocating anything in particular.

>>15156465
>Wait til line flattens out
>Buy
>Wait til line goes up a lot at once
>Sell
idk seems pretty easy

>>15158156
the issue is not alcohol
you make gains you become confident you lose everything
you make losses you become fearful you make tiny gains

more losses than gains
no one in this thread can prove he is a successful trader

>>15156465
zoom out retard

put a lot of money into low leverage btc longs at this point. wait 4 months until another setup like this happens. profit

>>15158207
you would have buy @6,400$ last summer then
any "trader" allow his bankroll to do a -55% in 2 months
wake up

>>15158156
yeah so you basically make 0.
>>15158139
you will never make more money day trading than holding. the whole game is designed to reward hodlers and fuck day traders.

>>15158224
>zoom out retard
>put a lot of money into low leverage btc longs at this point. wait 4 months

t. december 2017 fomo buyer

>>15156465
what about day trading index future contracts instead of fudcoins? also why no one talks about other markets but crypto here

>>15158235
I watched my bankroll do a -90% during the crash, and yet here I am today up 600% just a year later. Sometimes you just need patience, my man.

>>15158264
600%? Bitcoin is now 36,000$?

>>15157349
>we'll never see 10k again
FACT.

>>15158264
yeah you're hodling and praying. but it's insane risk. ask any professional trader what they think of allowing a 90% drawdown.

>>15158262
>also why no one talks about other markets but crypto here
It has the lowest barrier to entry, is inherently anti-boomer, the market is 24/7 and high-paced which suits our collective autism/adhd.

>>15156465
I feel bad for all the retards who unironically are unable to program their own automated trading bot

>>15158262
>what about day trading index future contracts instead of fudcoins?
Some of us trade those too. I spend a lot of time buying and selling SPXL options (made some good money today) but I guess people just don't find that interesting since it rarely comes up except in /smg/. FWIW my SPXL option strategy is very similar to my BTC strategy. My perspective on the two are the same. I try really really hard to not be a bag holder and so far so good but I would hold either one if I got blindsided into a huge position one day. Naturally I'd work the trade and get out but if it took 6 months I'd just grit my teeth and get to it.

>>15157972
You actually have helpful responses anon, thanks for the info, I am digesting it an processing it as I admit most of what you said goes over my head. Can you expand on your statement of "trade what is"? it seems to be deeper and more complex but simple at the same time if it makes sense.

>>15158314
>anti-boomer
I feel like it's always the boomers here that are sperging about crypto and the local pyramidal scheme with 40% interest rate. here at least (Brazil) future Index doesnt seen to have too many barriers apart from the retarded taxes (20% plus a couple smaller ones) to entry, and its also easy as hell to get gains since all you need here is knowing how to set correctly the support/resistance to succeed.

Im a scrub when it comes to trading but I want to give it a shot so I can learn a thing or two. I'd like to trade on binance as that seems to be the most popular but the chinks blacklisted the US. Anyone know how to bypass it or know any better sites for trading?

>>15157972
You're the anon that recommend Al Brook's books. Thank you based and red pill anon for educating the brainlet plebs. You're doing God's work.

>>15158466
To succeed trading, step 1 have a system that is scientific, mathematical and psychologically tenable. Trading is based on profiling a chart, finding series' of candles and volume action that conform to a pattern in your system then applying your system to that chart to completion. Either the chart falls out of the pattern and you sell at a loss or it reaches a point where you get out at profit. You don't look at a chart that is almost but not really and think "this is close so I'm going to try". It may work that time but in the long run you will get rekt as surely as if you were playing roulette.
When you take a set up and it goes against you, you can't let your "losses" affect your judgement. When the pattern comes to completion and the chart moves on, get out. You can't regret a loss you just do what is probabilistically rational. Do that and the law of large numbers will ensure success.
For example. Imagine you trade base breaks like pic related. Base breaks as you know is a play on support. Look for huge drops beneath previous support and if they move down sharply enough and bounce strongly enough you can assume there are whales that are "supporting" that price especially with the money required to move the BTC/USD chart here. So you find your support and then you wait for the chart to go beneath that support. When it does you buy. You now have a 90% probability that you can sell at profit as the price is that likely to at least come back to that previous support based on the history of the chart. You job is to coldly and methodically review the chart and make sure you are calling acutally drops and bounces and not what you *want* to be drops and bounces. You make sure your percentages are right. If the chart drops 30% below support on average, you need start buying at 15%. Not at 5% or 10% like your emotional self will tell you but 15%. If it doesn't make it, you let it pass.
That's whatI'm talking about. Hopefully it's clear.
>>15158663
Hey!

>>15156749
so where's your course? lol it seems like the only helpful one

>>15156636
The study was on stock trading which is fundamentally very different. There haven't been any conclusive studies on forex and especially not crypto

>>15158684
>scientific, mathematical and psychologically tenable

>>15158684
Are you more cash bias, meaning you like to sit more on cash than BTC? Or do you focus mostly on leveraged position in BTC because we're bullish on the macro time frame?

>>15158223
Don’t be a dick, man. Not every trader here loses. Fuck off.

>>15158693
>so where's your course? lol it seems like the only helpful one
I'm too lazy and after putting all the work into making one I'd probably end up realizing I was just lucky as all my students get rekt. It'd be horrible.
>>15158724
>The study was on stock trading which is fundamentally very different. There haven't been any conclusive studies on forex and especially not crypto
I was thinking this but forgot to mention it. Thanks.
>>15158729
>>scientific, mathematical and psychologically tenable
The comment started out as 2800 letters and I had to edit the shit out of it for 4chins to accept it. Hence that bullshit. You get the idea though.
>>15158747
>Are you more cash bias, meaning you like to sit more on cash than BTC? Or do you focus mostly on leveraged position in BTC because we're bullish on the macro time frame?
My largest flaw as a trader right now is I am biased toward bitcoin. I believe it will be much bigger than it is right now so I tend to hold more of it than I should. When we were at 9500 I was something like 90% in which was a very dangerous position to be in but there it was. Objectively I'd say a person shouldn't never be more than 70/30 BTC/cash and even that is probably pushing it a lot. Of course this isn't taking other investments into account. Strictly in the universe of crypto 70/30 max. You have to keep some dry powder for a dip else you miss it and you never really know when it's coming. This is also in context of your overall trading style. If you are a die-hard hodler then the mix is different. If you day trade like me then you need a lot of cash to catch dips. Also day trading is an opportunity cost vs. holding. Since I obviously never get all of the upside. To balance this in my favor, I have to be very ready to catch large amounts of the downside when a trend goes bearish. That's just me though. Right now I am something like 60/40 Cash/BTC. I think. Last I checked.

>>15158684
Any way to contact you, anon? I'm not a complete know-nothing but I still can't really get it to click. I could show you my current btc chart and my extremely basic strategy

>>15158813
>Any way to contact you, anon? I'm not a complete know-nothing but I still can't really get it to click. I could show you my current btc chart and my extremely basic strategy
Sure, I'll check it out and help if I can. jamonrevenge@protonmail.com

>>15158813
>>15158826
do you post charts to TV or twitter at all? would love to follow there

>>15158835
I don't but I should. Probably be fun. I'll give it some thought. If I put something together, I'll either email whoever emails me at that protonmail address or I'll make some kind of racket on here with a few threads shilling it.

>>15158793
larp

>>15158805
>Also day trading is an opportunity cost vs. holding.
you will never be as profitable as hodling, or at least playing long swings. you should have just bought below 4k and hold.

Also basically you just use a price action strategy with support resistance, nothing scientific here.

>>15158826
Thanks I'll definitely be hitting you up later

>>15158251
>you will never make more money day trading than holding. the whole game is designed to reward hodlers and fuck day traders.
That's not necessarily true. With day trading the money is guaranteed if you can do it right.
If you are just buying and holding then you are not guaranteed a profit. There are a ton of coins/tokens that hit a high price but then never recovered and likely never will.

>>15158913
>you will never be as profitable as hodling, or at least playing long swings. you should have just bought below 4k and hold.
I started this whole bitcoin trading thing with a very small and specific amount of money and have never added anymore though I have pulled some out from time to time.
Right now my account is at least 200x what I put in. That is 2 orders of magnitude and a 2x after that increase. I assure you, the price of bitcoin has not moved even a single order of magnitude since I started. You picking up what I"m laying down?
>Also basically you just use a price action strategy with support resistance, nothing scientific here.
It has positive expected value. I'm not sure how you define "scientific" but that's close enough for me.

>>15158264
now this is a brainlet

>>15157762
Based rant. 9.5/10. Thanks for sharing.

>>15158956
you buy a dip, it goes lower.. now what. you cant predict where it will stop. 2 days ago you coulnt predict it would dip to 11.2 and not lower.

>>15158793
Post your annualized total return from trading for each year for the past three years you absolute faggot. Nobody with a brain cares about muh daily PnL.

>>15159020
>you buy a dip, it goes lower.. now what. you cant predict where it will stop.
Yeah, you got it. This shit could all go to zero tomorrow. It could also go to 50k or 10k or 15k. Who knows. It's like forecasting the weather. Yeah, they'll give you a 10 day "forecast" but of course it's bullshit. As the tenth day gets closer though they have a clearer picture and course correct. Finally what was 10 days out 10 days ago is today and you look at the weather report then look outside and they seems to coincide pretty well. Trading is something like that. I can look at the history of a chart, fundamentals, volume, new regulatory bullshit, and on and on then make an educated guess of what I expect to happen. The further out I look the wronger I am but when I look at the chart right now, some of the time I have better than chance odds of either hitting "buy" or hitting "sell" and it going my way. Most of the time I have very little useful insight so I do nothing. Of course nobody else has any insight either so they do whatever they do. Those times I have a 50/50 chance of getting it right or wrong. However when the odds nudge just a little in my favor, I act. Over the long term, those little in my favor moments add up. Thanks to compound interest, they add fast enough to keep me entertained enough to do it all again tomorrow.
You are thinking in terms of specific events. I am speaking of probabilities and discrete combinations of numbers. That's all it is.

>>15159125
Imagine I see a trade and take it. I took the trade because I read the set up and decided I had a likelihood of making money. Now imagine the trade goes to shit. The chart dumps or does any of a million things other than what I want. What do I do?
Simple. I read the chart again. I can either buy, sell, or hold. If the chart is no longer in the pattern it needs to be in for a buy or hold but is instead is in a pattern where a short would have positive expected value I simply sell. It's that simple. Just do what the chart says and the law of large numbers will most likely in the long run take care of you.

"The stories and information posted here are artistic works of fiction and falsehood.
Only a fool would take anything posted here as fact."

day trading is hard because you attempting to take money from people who are very smart, have superior technology, and have very deep pockets

becoming a good trader is more about learning about yourself and your weaknesses than learning a bunch of secrets

>>15159187
do you short too on kraken using leverage?
>>15158956
>Right now my account is at least 200x what I put in
200x in usd? I dont believe you, shitcoins dont count. No way you put like 1k usd and end up with 200k day trading

>>15158684
Thanks for the effort anon. I have the feeling you tried to dumb that down as much as possible but I am still at a much lower level than you so I dont quite get it. I teach people how to operate firearms and sometimes it is harder for me to distill info to the level of "dummy" than to teach higher level stuff so I know it can be frustrating, but you have provided enough info to at least show me how much of the basic shit I dont know.

You should adopt a trip since you are actually giving useful info unlike most of the tripfags here.

>>15159259
>do you short too on kraken using leverage?
I do not. I view shorting the same way I view the Martingale strategy. It works until you get rekt. Not saying it doesn't work for some people but I'll have to be really bored before I take that trip to the
>>Right now my account is at least 200x what I put in 200x in usd?
>I dont believe you, shitcoins dont count. No way you put like 1k usd and end up with 200k day trading casino.
Well, I got some bad news, anon of mine. Both of your numbers are a bit low. When I said I started with a "very small" amount I misspoke. I should have said "modest".
Look man, I admit it is possible I have just been very lucky but I have made a few unbelievably profitable trades over the last couple of years and thousands of lesser trades. That shit adds up. I'm expecting the IRS to start sending Christmas cards pretty soon.
That's why I spend time in threads talking trading up (this isn't the first time by a long shot). Trading and crypto in particular can set you financially free. It can change your entire life but the razors edge between success and rekt is thin. I try to help and yes I have been successful. Possibly one of the most successful traders on /biz/ and I don't mind helping people who want to learn.
>>15159264
Haha. I understand completely. It's just so many little things that go into making it work it's hard to fit it all in. There are a lot of sharp traders all over the world that want your money and keeping it from them isn't easy. Taking theirs is much harder.

going to bed anons, keep the thread open

literally made 1k today from day trading and I wasn’t even trying lol

OP is just retarded and as always, a faggot.

>>15159447
it's not making money "today" that is hard, is to make money every day for years that is almost impossible... less than 1% of day traders are profitable after 3 years based on brokers stats.

I'm about to crash too. Good talk.

>>15159447
BTC holders made just as much. and only brainlets measure in dollars rather than %.
You made $1k on $1 million invested or $1000?

>>15156465
hi capslock
did you give up on the bear life yet?

>>15156465
Because the people that can pull the shit off don't share it, let alone on god damn 4chan.

>>15159744
>Because the people that can pull the shit off don't share it, let alone on god damn 4chan.

to be kind, some successful traders have a simplistic view of why they are profitable, and when they try to teach why they "think" they're profitable, their students don't succeed.

this is not unlike a professional baseball player writing a book on how to be a professional baseball player. they can write all sorts of amusing antidotes, but they don't really know why they play as well as they do, and they're not very good teachers

the internet and trader conferences are full of people claiming to teach how to be a successful trader in one weekend. good luck to them.

>>15160781
>>15159553
I mostly trade futures (10yr, 30yr, crude, S&P). I'll go to equities (S&P 3x long, short) when the futs risk is too large for me.

Like buying in to a poker game, trades have a minimum cost. That is cost of a round-trip trade and some slippage.

Risk is how much a trade will go against you before you capitulate. I compute risk as a function of the recent average trading range. Thus during periods of low volatility I have a lower risk threshold than on wild days. Too many traders try to figure out risk on the fly - and they get caught up in trying to be right or even "revenge" trading. They sometimes get their account liquidated by their broker when their losses exceed some previously agreed on amount.

>>15160908
>>15160908
Expectancy is how much you expect to make on the trade. You need to figure out your ratio of Risk to Expectancy you need based on how often your trades hit or exceed your expectancy (your win ratio.)

How you manage your wins can make a tremendous difference in what you take home

. If you can only trade small size, e.g. one contract, or 100 shares, or one option, etc.., then your trades are all or nothing.

If you are well capitalized you can scale-in to your trades, letting an early win pay your cost and risk for continuing a successful trade. You can scale-out of a trade, locking in some break-even-plus profit while leaving some of the trade in-play in case it goes limit up or moons.

>>15156465
some people get lucky and don't realize it was just look until they become unlucky

>>15162287
There is no reason anyone should lucky or unlucky. Skill is practically no diffetrnt from luck

>>15156465
Well daytrading for a month in 2017, got me a trip to Japan, a brand new a7 III camera and a brand new computer + monitor. I'm not mad

am i the only one losing money daytrading crypto?

>>15162626
how much money did you get started with ?

>>15156501
Good strategy fren. Can teach?

>>15162645
I was trading with 4 BTC. When I first started traded, I would literally panic as soon as I sold or bought. You cannot be emotional. That's all you need to do. You likely know when to buy and sell, but you're too afraid.

Stop being scared and look at in a different light. Trading is 60% mentality, 25% skill, 14% luck and 1% clicking a button.

>>15162645
Most people lose money, so no your not alone

>>15159362
> I try to help and yes I have been successful. Possibly one of the most successful traders on /biz/ and I don't mind helping people who want to learn.
Are you still here based trader anon? I wanna learn and was hoping you could help me.

I've been trying to learn to day trade, and I've even been trying to follow many trading strategies online, specifically two strategies from QFL (base breaking, and account builder), but those aren't exactly "day trades", in that opportunities are very few and far in between, and a single bad trade (like a dip that doesn't bounce) cancels out like twenty or more good ones.

That's especially bad considering opportunities for those strategies sometimes take a week or two to appear, sometimes longer.

Are there any tips or guides you can recommend to someone who really wants to learn, and has all the time to do so?

This part sounds especially great:
> Trading and crypto in particular can set you financially free.
And also how you had done a 200x while bitcoin had barely done a single order of magnitude of growth.

>>15156465
You could have shorted the obvious 12300, taken 2-3 profit targets and still not be stopped out.
Yeah, real hard man.

>>15163207
we can still short 12.3 tho

>>15158684
>counting % from the base to decide when to buy

holy shit you cant actually be succesfull

>>15163162
Heya dude. What youtube channels and people do you recommend watching to learn how to do forex and create bots in meta trader 5?

>>15163246
Also he if you read his posts
>>15158805
>i do short
>>15159362
>i dont short

also how can you 200x without leverage and without ever shorting? he is fucking with you guys >>15163162

you can see he contradicts himself... a big fat phoney, i doubt he is as succesfull as he says - most of the wisdom he has shared in this thread is garbage tier and he fails to mention shit that is crucial beyond imagination

I tried my hand at daytrading, was very succesfull at first but in the end i had to go through a slump, hard to learn otherwise... and funny how the phony doesn't mention this...
the thing i had to learn, and this is different for everyone because psychological weaknesses are seldom the same... but for a soul that is like me : dont overtrade, and if you have the skill (the big IF, know thyself and shit, look at where you have succeded and see the limits of it), everything will work out

>>15162695
This guy is the real deal

>>15158272
>12 posts by this ID
I have never seen such a bitter person before, I bet you went all in on a short position and get BTFO and now you are here being a sad little cunt.

>>15163227
Yeah, always short those kind of areas with a tight stop loss.

>>15162626
everybody is a genius in a bull market, day traders included. literally anyone could make money.

>>15163162
Google kewltech, it's and old blog and somewhat confusingly written, but it's got some good info about market structure, momentum, levels (basically how price moves) etc that can be difficult to find elsewhere. Don't waste time on meme strategies and news trading or whatever.

>>15163246
what's the title of this book?
>>15163401
>he is fucking with you guys
I guess he is. I've been trading bitcoin spot for years I know you can't fuck the quant firms with "just buy the dips and sell higher dude it's easy". they have wash trading algos and they immediately recognize when an order is not theirs. you buy, they send the market ranging lower, you sell they send it higher. Every action you do has an influence on the market.
His only way to do 200x was to invest in some ICO or buy some shitcoin and let it ride during the 2017 bull run.. not day trading.
>dont overtrade
if you're day trading you're over trading. unless you're a market maker of course or has some kind of quant strategy making a lot of scalps.

>>15160781
>>15160908
>>15160983
High quality comments. Thanks fren
>>15163401
>>i do short
Where do I say I short and where do I contradict myself. You need to brush up on your reading comprehension. Maybe that's why you "had to go through a slump".
>>15163162
> specifically two strategies from QFL (base breaking, and account builder), but those aren't exactly "day trades", in that opportunities are very few and far in between, and a single bad trade (like a dip that doesn't bounce) cancels out like twenty or more good ones.
One thing to keep in mind about Luc is he made his videos during the bull market of 2017 so pretty much anything he did would eventually work. I've seen people applying his strategies and wait months for a bounce and when it happened claim "It works!" Yeah well, bull markets are good for that kind of thing. I don't typically suggest or practice his way of trading though it's so simple and obvious it makes for good examples but if you are going to trade that way in the current market you have to learn a few very important things. First when he says find a good chart that goes back months and returns to base you must do this. There has to be a community of buyers for that coin to push dips back up. I say "community of buyers" but of course that's just an assumption, but the chart can't just keep falling and you buy in cuz base. Second, money management is key. Never let a single trade wipe out a bunch of trades. You're either going too deep too fast or taking Luc too literally and just continuing to buy in when something isn't working. The last thing Luc kind of explains but seems to get lost is he talks about "working a trade". When you get started on a coin, you buy, it drops, you buy some more, almost any time there will be some kind of bounce somewhere. YOU MUST SELL SOME. And an appropriate amount contingent on how much you went in. You must work those bounces. Example in next post.

>>15156465
I don't daytrade, my bot does.

>>15164503
So STRAT/BTC, a coin that has dropped 75% or so in the last 3 months. A few QFL people went in where the first yellow line is. But as bitcoin has been mooning, STRAT has never truly returned to base. However where I circled in blue were ample opportunities to "work the trade" sell those little bounces and reload when it goes back down. If you missed that and just held assuming it will eventually come back up you ended up taking the dump to where we are now. Again, I don't actually follow Luc though I am very aware of his stuff but you have to read him closely to really follow his method. Last thing, sometimes things just don't work. I mentioned above that if a chart moves away from your pattern into a new pattern that dictates it's time to sell, you sell. Don't wring your hands over what you've lost. The market says sell you sell.
>>15163942
>His only way to do 200x was to invest in some ICO or buy some shitcoin and let it ride during the 2017 bull run.. not day trading.
Tall poppy syndrome like a motherfucker in this thread.

>>15164549
It's too early. Forgot pic

>>15163942
>>he is fucking with you guys
>I guess he is. I've been trading bitcoin spot for years I know you can't fuck the quant firms with "just buy the dips and sell higher dude it's easy". they have wash trading algos and they immediately recognize when an order is not theirs. you buy, they send the market ranging lower, you sell they send it higher. Every action you do has an influence on the market.
>His only way to do 200x was to invest in some ICO or buy some shitcoin and let it ride during the 2017 bull run.. not day trading.
I'll extrapolate a tiny bit further. Day trading covers a lot of ground and I have many strategies. I write all my own software, wrote a bot, have alerts that run 24/7 so whenever there's a move on any coin I'm watching, I'm at the keyboard in seconds unless the bot takes the trade for me. I make dozens of high EV trades a day. I've been programming computers for decades, take a deep statistical approach to everything. I watch a dozen exchanges totaling 28,000 coins literally all the time. I also trade actively on the stock market with leveraged longs and options. Also with a bot and real time feed/alerts/the works custom built. And I do this for 15 hours a day every single day. I like doing this more than anything else and have been doing it for years. That's how I succeed. You have no idea how deep the rabbit hole goes so don't be so quick to think cuz you can't do it nobody can.

>>15164625
>I've been programming computers for decades, take a deep statistical approach to everything
ok well that's what i said, you're doing systematic quantitative trading. yes it's possible to make money that way.

>>15164745
Fair enough. I'd have went into it all before but I hate to get too heavy even in a 4chins effort post and I don't want to scare noobs into thinking if you don't have all this or programming ability, anything else is futile. When I first started trading, I did it by hand. When I found a strategy that I could execute manually, I reduced it to a set of steps and programmed it in. Then went to the next one. The key is they all worked by hand though. There's some stuff I do now that can only be done algorithmically and of course scale requires that but things like reading a chart and buying below support can still be done on the exchange page by clicking buttons. Also while I do some market making with BTC/USD which is a separate deal, I mostly trade that pair by hand especially when the trades are big.

>>15164503
>I don't typically suggest or practice his way of trading
I was actually personally moving away from his style since the trades are really slow if you stick to his publicized strategies.
And he posts day trades in discord where he makes several intraday trades making $300-500 each trade, but refuses to reveal the strategy for those, so I'm sure his main strat is something he is keeping for himself.

>>15164625
Damn that seems complicated.
Do you think you could have achieved similar success rates without all the programming experience, just with manual trades?
Say with your current trading skill, but without any of your programming knowledge or the tools you made, how long would it take you to 200x a small stack again?

I guess seeing all those custom made tools helping you achieve success is a bit discouraging for a manual trader like me.

>>15164870
>I'd have went into it all before but I hate to get too heavy even in a 4chins effort post and I don't want to scare noobs into thinking if you don't have all this or programming ability, anything else is futile.
haha I didn't see this post earlier and that DID have that effect on me.

>>15164870
do you regularly cash out your crypto gains on coinbase/kraken/stamp? what's your opinion about the tether risk? right now nobody cares if they are really backed or not... so if the music stops and people rush to fiat it will be nasty.

>>15163942
https://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Operator


>>15164870
doing a 200x on a modest amount, probably a millionaire
15 hours of trading every single day
never shorting
posting on 4chins
having only given one concrete example one one of his strategies, which is a count of % retrace from base "buy the dip" method
do you think i am stupid?

I dont doubt you trade, and have told some truths, but you are also a obsessive liar

>>15164870
>When I first started trading, I did it by hand. When I found a strategy that I could execute manually, I reduced it to a set of steps and programmed it in. Then went to the next one. The key is they all worked by hand though.
So how did you learn enough to find a strategy that worked?
Any tips you can give to someone who wants to learn?

>>15164926
>>15164937
Don't let it get to you, my man. Imagine I went into a wall street HFT or hedge fund and stood in awe of their equipment and expertise. I'd be like "fuck it" this is impossible. But it isn't. They have a niche and I have mine. The combination of numbers and social variables affecting the market on any given day are essentially infinite in combination so mathematically deducing an accurate model of the market is intractable. The space is too big and the number of strategies even attempted in the history of trading barely scratch the surface of what is possible both high frequency, algorithmically, or by hand. Consider that fact carefully.
>Do you think you could have achieved similar success rates without all the programming experience, just with manual trades?
>Say with your current trading skill, but without any of your programming knowledge or the tools you made, how long would it take you to 200x a small stack again?
200x? No. The market has changed. Between January 2018 and June there was a shit load of volume in the market and huge wild swings on shitcoins that just aren't there anymore. Could I still trade profitably? Hell yes. I've been trading BTC manually for months now and increased my stack more doing that than all the rest put together. You gotta be flexible and take what the market gives you. Also, not I started trading manually and did so for months before I was confident enough to go algorithmic. I made money.
>>15163246
>>counting % from the base to decide when to buy
>
>holy shit you cant actually be succesfull
Just got around to reading the thread. Holy shit reading comprehension and context is fundamental. That's a QFL strategy which is what most day traders around here use so I was using that as an example. I don't trade his shit but he teaches by percentages rather than standard deviation which IMHO while more appropriate would immediately go over a lot of folks' heads. Tall poppy, amiright

>>15164965
Damn, you're a riot. You don't think traders get bored? This is literally 90% of my social interaction. I used to post on Hacker News, Slashdot, and a bunch of other sites but now it's almost all /biz/ and even then sometimes I go weeks without even opening the site. Cuz I focus on what makes the money. On the flip side though, consider that the bot is built. The algorithms have been written. The trading style is refined. I could literally do nothing and make money every day. I could walk away for months and come back to nothing but a fatter stack.
>having only given one concrete example one one of his strategies
That's a quickfingersluc strategy that I don't use but a lot of new traders do so I use it for illustrative purposes. It is a strategy that also happens to work but is a great example of simple but not easy so people get tripped up on it. Pay attention.
>do you think i am stupid?
...

>>15164965
>never shorting
Lemme zero in on this for a sec cuz it deserves attention. No, I do not short and the reasoning is simple. I never trade a strategy unless I can fully articulate why it works. I never will look at a chart and pick an entry/exit/hold unless I can articulate exactly why, and precisely where, when, and why I will make my next move. I always know where my exit is based on the chart as it is. If the chart changes patterns, I can tell you what I will *now* do.
I also know my limitations and will not trade a pattern I am unsure of. I find reading when to go long trivially easy though at this stage of my learning I cannot articulate a coherent shorting strategy where I feel comfortable with all the variables, and can execute a plan to completion on any chart with a positive expected value. That is why I do not short. Now, I am slowly moving in that direction and I have some ideas which I do test from time to time but I do not systematically short and I do not make any money that way. I did the same thing with options. I did not try to "make money with options" until I had a coherent strategy that I was confident would work. That has now changed. Along with trading leveraged ETF's like SPXL though even there I don't take the short side.
To be a good trader is to only take trades where you have a reason to believe you can win. Just shitting on people cuz they don't short or you can't imagine how they could be successful is basically puerile hater shit. Good luck with that.

>>15164990
Can you recommend any good material to learn how to setup a bot?

>>15165272
Sure. If you're talking about writing your own from scratch with no programming knowledge, first thing you need to do is learn some programming language. I'd suggest Python since it has lots of really great numeric and statistical tools to play with. This should take 3 months or so if you're new to programming.
https://learnxinyminutes.com/docs/python3/
Next, you're gonna want to familiarize yourself with what is possible with algorithmic trading which means the exchange APIs. There are things the APIs can give you that you can't get with the interface. HitBTC for example offers very useful order types like "Fill or Kill" that as far as I know do not exist on the web page. Fill or Kill is crucial for e.g., a 3-way arbitrage bot. I mean, basically, without FOK you can forget 3-way arbitrage which is a very common beginner bot project for noobs. To get this api knowledge, I'd suggest reading the CCXT manual. CCXT is an api wrapper that covers over a hundred exchanges and lets you access them all the same way. The manual for it is fantastic.
https://github.com/ccxt/ccxt/wiki/Manual
If you want a good charting library, I'd suggest matplotlib. It can do anything and allows you to manipulate your data visually in ways the exchange interface cannot compete with. For example, suppose you want to see an inverse chart for BTC/USD. Like the chart is going up but you want to see what the same chart would be like if you inverted it and flipped the prices around like in pic related. For matplotlib, go here:
https://matplotlib.org/3.1.0/api/index.html

All of this should take no more than 6 months to master.

>>15165054
>Pay attention.
you will notice i referred to your example as that: an example
i was pointing towards how you have only brought up one single strategy, a shitty one at that (which you admit, bravo) but never say anything that suggests deeper knowledge.
>muh bot
>muh automation
>muh programming
>muh checking 28,000 coins at once + legacy markets
>muh spending 15 hours

all things you bring up as things that enables your feats. and all without real substance

like this >>15162695 anon points out trading is 1% clicking a button yet it is that aspect you keep bringing up

>>15165153
>I never trade a strategy unless I can fully articulate why it works. I never will look at a chart and pick an entry/exit/hold unless I can articulate exactly why, and precisely where, when, and why I will make my next move. I always know where my exit is based on the chart as it is. If the chart changes patterns, I can tell you what I will *now* do.

this is contradictory with not shorting, if what you say is true what is stopping you? it is not uncertainty if you speak truth here


>at this stage of my learning I cannot articulate a coherent shorting strategy where I feel comfortable with all the variables, and can execute a plan to completion on any chart with a positive expected value. That is why I do not short.

words words words... increase and decrease, the turnout of each decided by the other. someone with the kind of psychological rigidity they ignore such oppertunities can impossibly trade well as they must be limited by fear not uncertainty (if it is as they claim that they can see one of them)

all in all i dont believe you

>>15165508
>CCXT library

Thanks, desu. That is exactly what I was looking for.

>>15164503
Hey fren, last thread you promised to send me some info when I told you the free scanner is no longer working. I never received anything

>>15165639
>all things you bring up as things that enables your feats. and all without real substance
Stop beating around the bush. You're a beggar begging to be spoon fed a strategy. I put in the work. I'd suggest you do the same.
>>I never trade a strategy unless I can fully articulate why it works. I never will look at a chart and pick an entry/exit/hold unless I can articulate exactly why, and precisely where, when, and why I will make my next move. I always know where my exit is based on the chart as it is. If the chart changes patterns, I can tell you what I will *now* do.
>
>this is contradictory with not shorting, if what you say is true what is stopping you?
Are you dense? All the tools in the world are useless without a coherent strategy with positive expected value. I don't have that yet therefore I do not trade shorts. Trading setups without expected value is a large part of how 99% of day traders fail. I hate to pick on you cuz you're probably earnest you're just simple minded and foolish but this is a good example for people to read.
Do not be this guy. If you are not confident, cannot explain your strategy thoroughly using e.g., the Feynman method[0], you do not have a strategy. You are gambling and you will lose your money. If you have a single technique you are confident with that has the slightest edge, you will outperform any number of simpletons like the anon I'm responding to who may have a hundred "strategies" (loosely termed) but no articulable reasoning why they should work and what to do when they go wrong.
>all in all i dont believe you
I'm crushed.
>>15165716
Yep, I haven't forgotten. Bitcoin has been mooning since then so I've had my hands full. I was just looking for your throwaway address and I may have misplaced it. What was it again? I'll probably just send you a python script that instead of building a webpage until I get time for the latter.
[0]https://fs.blog/2012/04/feynman-technique/

>>15165508
>For example, suppose you want to see an inverse chart for BTC/USD. Like the chart is going up but you want to see what the same chart would be like if you inverted it and flipped the prices around like in pic related.
you can do this in tradingview btw. right click the price column -> invert scale

>>15165789
Yep, I was going to use that for my example but couldn't find the setting haha. I do like to use my own charts for it though since Tradingview doesn't support even close to all the coins I trade or exchanges I use.
>>15165639
>this is contradictory with not shorting
Are you equating "selling" with (1x) shorting? If so, don't. That's essentially saying you are "short" everything you are not currently holding. Pedantry is a terrible adjuvant to an already shitty argument.

>>15165789
>>For example, suppose you want to see an inverse chart for BTC/USD. Like the chart is going up but you want to see what the same chart would be like if you inverted it and flipped the prices around like in pic related.
>you can do this in tradingview btw. right click the price column -> invert scale
Wait! I just tested it and remembered another reason I don't use it. What tradingview does is not a proper inversion. It just flips the chart upside down. An inversion will keep the X axis the same but will invert the ratio of each of the Y variables. This shows you instead of e.g., 1 BTC being worth 11000 dollars, 1 dollar is worth 0.0000909 BTC. This distinction is subtle conceptually but the chart looks much different and confers different information that a simple flip. Consider it carefully.

>>15165774
>Yep, I haven't forgotten. Bitcoin has been mooning since then so I've had my hands full. I was just looking for your throwaway address and I may have misplaced it. What was it again? I'll probably just send you a python script that instead of building a webpage until I get time for the latter.
>[0]https://fs.blog/2012/04/feynman-technique/
Thanks a lot man! It is tradingstack@protonmail.com
are you over 500k in profit already?

>>15157860

Return to mean would have be great this last month brainlet

>>15165880
>are you over 500k in profit already?
Yes sir! Just between you and me I've *made it* since last we talked. Like the 4chins definition of making it. Shit's crazy.
Screenshotted your post, btw so I won't lose it.

>>15165933
are the profits in BTC? Did you convert your profits to USD?

its pretty easy. you dont even need to know TA for bitcoin, just follow these rules:
>is tether still in business?
go long and never close your long until 1 day before court date.
>did they schedule another court date?
reopen your long
>did tether get busted by NYAG?
open a short and close it at 4k-5k because below most exchanges will be insolvent and they wont pay you

>>15165973
>are the profits in BTC? Did you convert your profits to USD?
I mentioned above I think I'm something like 60% cash and the vast majority of that is on exchanges that don't support tether so it's actual cash and I've pulled money out before which takes about 24 hours so it's "real".
40% is still in BTC which is subject to change in the next instant or the next 6 months depending on how things go.

>>15156559
>because shitcoin trading as founded on nothing but hype, fud, and luck.
implying your meme fiat currency isnt influenced by the same factors. fuck of moshe

I lost 50k trading crypto. I feel destroyed. Unironically planning my suicide. But I believe there's plenty people who can make money. Takes a special kind of person I think.

>>15165933
>Yes sir! Just between you and me I've *made it* since last we talked. Like the 4chins definition of making it
Wow really, what happened since then? That is awesome to hear, I am happy for you. Hope I can achieve the same in the future

>>15165774
>top beating around the bush. You're a beggar begging to be spoon fed a strategy.
no, you cant teach me anything anyway
all i can do is see if you know what i do, and you clearly dont

>>15165814
>. Pedantry is a terrible adjuvant to an already shitty argument.
didnt mean it like that, and dont waste itself... have fun R
best intentions as far as i could have them yknow

>>15166165
>Wow really, what happened since then?
Yeah man, it's been beautiful. It's at the end of my response to
>>15166108
>I lost 50k trading crypto. I feel destroyed.
Hey man, back between January and like June of 2018 I was using a strategy that was so perfectly matched to the way the market was rocking up and down that I couldn't help but make money. I mean, a coin would start dipping and I'd just throw a random buy 50% down on the chart and a good percentage of the time get it! Then set the sell, walk away, come back an hour later and have double the money. It was glorious and I made a mint.
Then things changed. The volume dried up and while I was still making money, it was trickling. So I went monk mode and built my bots, scanners, and on and on. Started building up again then November of 2018 struck. Talk about depressing. I was too deep in bitcoin and the drawdown began. And went on and on.
Fuck I got depressed. I mean I considered the real possibility that while I still had some money, I had blown my chance at "making it". I mean, I almost said fuck it and sold it all. Actually did for a day or so. Literally sold everything.
Then next morning I felt better. Said fuck it I'm riding this shit to the end. Either multi-millions or a cardboard box.
I regrouped, bought back in and came up with new strategies, reworked the old ones. Rethought risk management. Rebuilt my bot to be faster and more efficient.
At this point, even though BTC was hovering at 3500, my account started bouncing back. Almost like in the old days beginning of 2018. Then bitcoin started moving up and up and up. And I started getting serious about manually trading it which putting me way over anything I'd done before in profitability.
But if I'd gotten too depressed and ended it in December when Craig started his shit or sold it and got out none of that would have happened. Don't give up.
>no, you cant teach me anything anyway
Yeah, I've gathered that applies to me and everybody else.

>>15166325
Whoops. Forgot to tag (you)
>no, you cant teach me anything anyway
Yeah, I've gathered that applies to me and everybody else.

>>15166349
Why are you using this thread as your own personal blog. Do you really have no one else to talk to?

>>15166416
>Why are you using this thread as your own personal blog. Do you really have no one else to talk to?
It was all a ruse to coax you out so I could suggest you kys. Finally. Took you long enough.
Now that that's over with, I guess as long as I'm here I may as well keep the conversation going... wait, you're still here? You've been tasked, get to it

>>15166448
Go outside

>>15166067
post account balance screenshot of the largest account i want to see it.

>>15166460
he cant

>>15166460
>Go outside
I would but the stock market finally decided to move up today. Them 3x bull ETF's aren't going to trade themselves.
>>15166462
Sure. You know how easy it is to fake this right? The real proof and what you should have asked for would be a signed transaction on the blockchain from sizable wallet but, alas, I'm mostly on exchanges. I have an electrum wallet with a few 10's of thousands in it but I mean, how impressive is 50 grand right?

>>15166517
>3x bull ETF's aren't going to trade themselves.
i should try the spxl. question. lets take the run from 3 june to 21 june. it's a 27.7% move. when it dipped the 11 is there something with the leveraged etf that makes that dip lose you money or you just make 27.7% gain?

>>15166517
>40 posts by this ID
>why yes I am a successful day trader

>>15166591
>i should try the spxl. question. lets take the run from 3 june to 21 june. it's a 27.7% move. when it dipped the 11 is there something with the leveraged etf that makes that dip lose you money or you just make 27.7% gain?
Your suspicions are spot on which is why nobody suggests holding leveraged ETF's long term. The net asset value is calculated and rebalanced daily which fucks with the percentages. Couple that with compounding and things get really weird. Say SPY goes up 10% then SPXL should go up 30%. In reality it goes up 25% or even 35%. Now imagine SPY goes up 10% then drops 10%. It's back to where it started. But if SPXL goes up 30% then drops 30% it ends up only being 91% of the price it started at!! This is the problem and what you must be aware of.
As far as your specific question, in the time frame you mention, it's not going to make much of a difference. The key with leveraged ETF's is never try to hold long term due to the numbers I mention above. It is a day trading vehicle only though I have held it for up to a month at a time without problems or much deviation from expectations. Longer than that?
nope.

>>15166633
>>40 posts by this ID
>>why yes I am a successful day trader
Why not? Bitcoin is crabbing, boomer stocks as always are in slow motion. Besides, it just makes me feel all warm and fuzzy when I can play some small infinitesimal part in some other anon making it. Mmm mm
Except for you.

With your strategy you aren't getting fucked by barts? Like if a more sophisticated player like drw see your strat and decides to fuck you.

>>15166891
>With your strategy you aren't getting fucked by barts? Like if a more sophisticated player like drw see your strat and decides to fuck you.
I love barts. Consider this ironic fact coming from a successful day trader. It is almost impossible to beat the market and so many people fail cuz that is literally what they are trying to do.
Which leads to an interesting revelation. You must quantify market sentiment. You have to be able to read the market's mind to know what to not trade against. And it must be quantifiable if you have any hope of successfully automating it.
So we reach into our statistical bag of tricks and out pops Coefficient of Determination. How much of the movement of the y-axis can be predicted by the movement of the x-axis. If the x-axis is time and the y-axis is price, what is the likelihood that for a unit of time the price will move in a specific direction by a specific magnitude.
If we can calculate this with high certitude and the variables are highly correlated you best think twice and three times before betting against it cuz that is true market sentiment.
Barts are highly uncorrelated by definition. Nobody saw it coming. That's one of the times you as a competent trader strike. A bart is not market sentiment. Trading on it is NOT trading against the market and you can win. Consider this.

have you tried ftx exchange? team is experienced quant traders

>>15157004

That number is probably skewed quite heavily by all the losers who set up an account, lose on one trade, and give up. Nobody succeeds at this 100% of the time, but you only have to succeed 51% of the time to turn a profit.

>>15167962
>have you tried ftx exchange? team is experienced quant traders
I have not but I'm checking it out now. Looks interesting so far.

>>15168177
https://www.youtube.com/watch?v=I0eUKAGtUwM

day trading is a meme but swing trading is not
most people on /biz/ who actively trade are swingers. learning to TA and profitably swing is not hard.

>>15158805
I daytrade shitcoins (although really it's more like swing trading). Although I'm fairly new to it, I haven't lost a single trade yet. I'm trading micro-positions and don't use bots, but I have to be honest: this shit seems incredibly easy.

>>15168177
yeah they created 3x leveraged bull/bear tokens, hedge token, shitcoin perps etc.. pretty cool

>>15168449
>, I haven't lost a single trade yet.
Be careful. Markets change and there are a lot of smart people who would love to take your money. Learn everything you can and when something stops working don't try to force it.
>>15168476
Excellent. I'm all about it. Maybe we'll have a thread in the future.

>>15168449
How often do you take trades?
And how much % in profit do you make each time?

good interview of alameda research.. they are one of the biggest market makers in the crypto scene
https://www.youtube.com/watch?v=iGIEQvbXiFo

>>15168670
Alright, I've now read through the thread. You seem like a good guy and I wonder if you can offer some advice. I'm trading QFL strategy but my account is tiny. I started at $1k in Bittrex (I'm an American) and have been making little AB trades and hunting fat-fingers. I'm making money (like $3 to $10 a trade) but it's obviously very slow going and a large drop in BTC (because my shitcoin pairs are against BTC) would wipe out my fiat gains so I'm purely looking at account value in terms of BTC.

With all that said, I really need to get to the point where I can make $3k/month profit, for personal financial reasons. I estimate that I will need to grow the account to around $20k to $50k before I can consistently pull $3k out. At this rate it will take me a long time to get there, if I ever do.

Do you have any advice about what exchange is best for an American who needs to be IRS-kosher? I don't want to move into exchanges that might close their doors to Americans and I definitely don't want to run a VPN just to access Binance etc. Is Kraken the best?

Also, any strategy that you recommend? I'm a QFL noob although I really "dove in" on it but that's the stuff I currently understand. Any advice is appreciated.

>>15168806
In terms of how often, I guess I probably execute three or four trades a day on average so far. I aim for 5% profit, but I'm happy with 3%. I don't know if that's good or bad, it's just what I do. If I buy a big dip (fat-finger type, like a long red candle) then I get much bigger gains, and I also keep a balance to sell into fat-finger green candles. Other than that I trade whips. My positions are small, like $50 to $120 or so, so my earnings are a few bucks here and there. Most anons might laugh at that but right now for me it's just learning the process, getting comfortable with the mechanics of trading, and proving to myself that I can make more good trades than bad. I'm definitely no guru or anything and I expect the market to teach me some lessons and slap me around a bit, so although my first post sounded cocky I'm actually a pretty timid trader, or at least that's my impression.

>>15168861
Good stuff.
>>15168931
You will be cool with the IRS no matter where you trade as long as you keep good records. As far as worrying about exchanges closing their doors to you, that's always a risk even on Bittrex where many new listings are unavailable to US traders. To keep counterparty risk manageable, I'd suggest spreading your stack over a few exchanges. That way if one exit scams on you it's not something that will wipe you out. Also look into decentralized exchanges like forkdelta where you keep your own private key and they literally cannot just take your money.
Fat fingers are much harder to find than they used to be especially on exchanges like Bittrex. The main place I'd suggest for epic small account builders and 10x ff drops is yobit. They've been around for years and have an assload of pairs (like 8000). There's decent volume for a little guy and the swings get wild. I've flipped 10x's there a few times in the recent past just messing around.
They are Russian I think but I have successfully moved coins on and off their exchange. Check it out and start out small. Get lucky then move some coins to a more trustworthy spot. Wash rinse repeat.

>>15169057
Yobit, I will look at it. Thanks for the advice anon. I thought that the IRS did care about Americans being on exchanges that were kosher-certified, is that not true? Also, what do you use to report taxes? Cointracker.io? Also, do you operate as a sole proprietor, or an LLC, or an S-corp? And are there any write-off tricks you recommend for keeping more money?

>>15169106
The IRS just wants their money and it is not against the law for you to trade even on places like BitMEX. Thr regulatory difficulties are for the management of the exchanges themselves. They have to be certified by the CFTC and some other body in the US to offer derivatives to US citizens. So if they allow you to trade it's their ass in hoc not yours. It's a subtle distinction. I used to use bitcoin.tax but now I go to a CPA which when you get big will save you a lot more than it costs. I'm sole proprietor.
Also, yobit does not offer derivatives last I checked.

>>15169160
Wow, great knowledge thanks anon.

Another question if you don't mind: I'm trading on Altrady right now (the platform built off the basebreak detector by QFL fanboys) and it doesn't work with Yobit. What trading platform do you recommend for it?

>>15169187
Hmm.. now that might be an issue. Yobit is unique in having so many pairs you can't pull but a small fraction of the tickers per API call. Coinigy supports them but only sort of as it's only a tiny subset of the total. I write all my own scanners and I've gotten around pulling all the tickers in real time by using a number of VPS's. The max is 50 coins at a time last I checked. If your software provider doesn't have anything they need to get on top of it asap so maybe bug the shit out of them or hunt for somebody else.
Unfortunately I'm not in that biz.
I guess Coinigy is the only game in town so maybe set alerts on each coin they support until something better comes along. Sorry I couldn't be more help there.

>>15169333
Of course it's quite possible there are so many ff drops on yobit precisely because nobody supports it.

>>15167001
>Coefficient of Determination
How do you calculate this, what data sources, programs etc do you use?

>>15169333
Ok, thanks for the heads up. Since they have so many pairings, would it be horrible to just trade on their website?

Personally I can't trade white charts (background needs to be black, I don't know why this is but I hate white charts) but I assume there is a degree of interface control on their native trading site... I guess I'll have to register and play around with it. I've never used Coinigy but if it's limited to like 50 pairings then that sort of defeats the purpose, at least in my mind.

I don't plan on making bots but I will need a way to place alerts. I assume I can do that on their native site but I guess I'll just have to mess with it.

>>15169362
Easy mode:
Install Python
install scipy module
In pic related, "bitcoin_prices" is a hypothetical list of the 5 most recent trades on BTC/USD
The stats.linregress line will give you the CoD which in this case is 0.74. I would consider anything over 0.69 (heh) to be highly correlated and indicative of market sentiment for the range covered (in this case the last 5 prices). If you notice each price is lower than the last which means for each unit of time, the price is predictably lower, hence the correlation of 0.74. Buying this in context of this information is likely to get you rekt as the price would almost certainly continue to drop.
Note this is a highly simplified example with only 5 prices and doesn't take anything else into account including volume. It gets the point across though.
>>15169430
>Ok, thanks for the heads up. Since they have so many pairings, would it be horrible to just trade on their website?
It's organized reasonably well and if you can just get some kind of scanner working, trading on the site shouldn't be an issue at all. Some of my best trades there have been manual right on the web page.
>Personally I can't trade white charts
A "night mode" isn't jumping out at me but it might be there.
As far as alerts, the only thing I'm aware of is Coinigy and even if it only supports some of the coins, it only takes one 10x trade a month to move mountains for even a small account.

>>15169333
When I registered on Bittrex I was blocked from trading a bunch of the pairings because I'm American. Basically, they said "here are the pairings you're allowed to trade."

Is that typical for exchanges? I had already inspected every chart on the exchange and picked a dozen of my favorites for different methods, and then I discovered eight of those were blocked (the best ones actually). So now I trade the next best two runner-ups, which are ok charts but not great imo.

Should I expect the same treatment at Yobit and everywhere else?

>>15169430
https://userstyles.org/styles/151633/yobit-dark

>>15169606
If you really wanna get slick with the math here's some food for thought. What happens if you take the derivative of a highly correlated CoD curve as a price is descending? What does this tell you?
>>15169657
>When I registered on Bittrex I was blocked from trading a bunch of the pairings because I'm American. Basically, they said "here are the pairings you're allowed to trade."
Bittrex and Poloniex do this for sure but they are both technically American exchanges. Exchanges outside the US will either bar you completely or let you trade without restrictions. Rarely is there a middle ground. Yobit is restriction free.
Some other places you may consider are HitBTC, Kucoin, Exmo, Livecoin, Kraken, Coinex, Bibox, Tradesatoshi, Coinexchange, Forkdelta. There are many options for Americans.

>>15169606
>even if it only supports some of the coins, it only takes one 10x trade a month to move mountains for even a small account
Yeah that's a good point. I was convinced to use Altrady by QFL fanboys but the exchanges and pairings seem really limited. I'm not sure if I'm doing something wrong, should be using a VPN and pretending to be from South African or something...I just genuinely don't know what Americans are doing to access the great charts.

>>15169723
>I just genuinely don't know what Americans are doing to access the great charts.
I scrape all the exchanges, put it in a database and build my own charts with matplotlib. That solves the problem of exchanges with shitty native charts. Coinigy is great if they support your exchange. As far as what everybody else is doing, I don't know.

>>15169721
>HitBTC, Kucoin, Exmo, Livecoin, Kraken, Coinex, Bibox, Tradesatoshi, Coinexchange, Forkdelta
Thanks anon. Pic related is what works with Altrady. Of these, if you had to pick one for account-building (for an American) which would it be? Or a top three or whatever.

>>15169751
HitBTC, Kucoin, then Bittrex without a doubt top 3 account builders on that list.
Binance is closed to Americans in September, Poloniex gets precious few ff drops and few wild swings, they also restrict Americans' access to coins, Huobi is closed to Americans, Kraken has a limited selection of coins with few swings, Bitmex is closed to Americans, Coinbase Pro has practically no ff drops, and OKEx is closed to Americans.

>>15169742
>I scrape all the exchanges, put it in a database and build my own charts with matplotlib.
I think this might be a big part of what makes you special. Maybe I'll dabble in this later if I enjoy more success as a trader, but for now it's hard to justify the time sink of learning with all my other obligations.

>>15169773
Ok, thanks anon. Bittrex severely limits their coins to Americans. I'll look at HitBTC and Kucoin and move to one of those exchanges if I find friendly charts.

>>15169793
>I think this might be a big part of what makes you special.
Oh it definitely helps. I am extremely methodical with the numbers and try to uncover anything somebody else may have missed or overlooked. And I spend a ton of time on it. Something like 15 hours a day and I've been doing it for years. It also probably helps to be a math nerd and a STEM graduate. That's not to say any of that is necessary as I started by hand in a very ad hoc fashion before finding something that really worked and applying brain to it.
>Maybe I'll dabble in this later if I enjoy more success as a trader, but for now it's hard to justify the time sink of learning with all my other obligations.
Yeah, success in the beginning will definitely motivate you. My interests never were in finance but that has changed.

>>15169909
Unrelated question, but what is your favorite text editor?

>>15169606
Thanks man, now I just need to learn python

>>15169773
>>15169793
lvl.co has a 9$ fixed fee per month with unlimited trades. burgers allowed.
also caspian where you can slide orders on different exchanges
https://www.youtube.com/watch?v=QIvspprvevQ

>>15169961
Vim naturally.

>>15169909
Yeah, that makes sense. I'm STEM myself but I never used it (worked as a pilot and now I'm in a start-up that's totally unrelated to STEM). I think I could build the tools if I could clear my schedule, but if I do that bills don't get paid. You know the story.

What I really like about trading crypto is that it's 24/7 (I have a really bizarre schedule because I have to communicate with Chinese manufacturers and shit at odd hours) so I can always dabble in it, the cost of a trade is very low (so position sizes can be anything) and chances are there's a chart for every strategy if you look hard enough. To me that's really cool. I thought about trading Forex at one point but why bother when there's crypto?

>>15170016
>lvl.co has a 9$ fixed fee per month with unlimited trades. burgers allowed.
This is good man. Thanks for the heads up.

>>15170016
I'll check it out thanks man.

>>15170025
Yeah I hear you on that. I got my degree a long time ago, worked in California in the late 90s (do the math) now I just mess around on the computer. Wrote an affiliate autoblogging script a few years ago that hit it pretty big actually did a thread about it in March of 2017 here on /biz/[0]. Lots of good info in that thread if you're interested. I still have that and it pays the bills but crypto is just a monster and trading is like playing a videogame. Good luck with the startup!

[0]http://archive.is/ytGp7

and fuuuuck i have a position i bought at 11950 and forgot to put my stop.. how fucked am i.. i lose 250$ if i sell now.

>>15170101
You're a few years my senior but not by much. Thanks for all the info; I'll be reading through the archive you posted.
>Good luck with the startup!
Much appreciated. It's turning my grey hairs white, crypto is a place to hopefully make some side cash for a little stability (as crazy as that may sound to most). Good luck to you in future trades!

>>15170124
Imagine you had the cash in hand and were faced with the prospect of buying the coins right now. Would you? Remaining in a position is equivalent to a continuous decision to buy. That's my perspective.

>>15170017
A man of taste, I see.

>>15168333
>>15168449
whats the difference

>>15171913
day trading = you buy and sell intraday, you dont hold a position after the day's close.
swing trading = you can hold a position for a few days/weeks

>>15156501
i do the same
made 1k usd per day month to date

lmao Im just reading up the thread and you guys thinking investors with 10k+ daily income are laprers are pathetic
there are only 2 rules you need to follow:
- do not sell BTC at a loss
- only buy in the red and sell in the green

you must be a fucking brainlet to fail at this

>>15172335
true brainlet answer

>>15170124
Congratulations

>>15173158
yep i didnt sell because i kind of felt we had to break 12k soon but we could have gones to 11.8 too or lower.

>>15173311
*10.8

have to go to bed and dont want to babysit the trade so i sold.
https://www.theblockcrypto.com/2019/08/07/inside-the-derivatives-exchange-hoping-to-rival-bitmex-its-secret-a-wealth-of-liquidity-and-a-kyc-miracle/

>>15156465
I wasn't planning on getting into it, but I found out 2 years ago that a rich roommate from China spent $2000 on anime tiddy fighter girl unlocks for a phone game, and suddenly the cost of entry didn't seem so high.

I put $420 into a trading app and tended to it when I was bored and wanted to kill a few minutes.

$570 now :3

i feel like if i'll go to bed and wake up with a giant 1k up candle. sleeping sucks.