/biz/ - Business & Finance

Yeah he's right. But most traders build up multiple income streams so they're not entirely dependent on day trading alone.

Sometimes 30% if it's a good month sometimes -5% on a bad month. Trade FX only. Equity curve is on the rise

just git gud

>>15940191
I just want a cute girl like this to marry. Is that too much to ask for ?

I daytrade casually and make about 200-250 bucks a month off it. It's really just a hobby for me and way better gambling than gacha shit and tcg were for me. That said, I lost money for a while until I met the right person who does it for 60% of his income.

>>15940668
How do I git gud at daytrading?

>>15940658
yes obviously

>>15940658
are you ugly and fat and a neet loser that posts frogs? then yes

>>15940658
If it makes you feel any better she probably looks like a freak without make up

>>15940693
Buy low sell high

>>15940693
>How do I git gud at daytrading?
By doing it.
Start small and scale up

Here's my copy pasta

Chat with traders is good interview series with legends and people who day trade for a living. You can learn what style matches your personality.
https://www.youtube.com/channel/UCdnzT5Tl6pAkATOiDsPhqcg

I prefer swing trading options
Learn to trade options form ex floor traders
https://www.youtube.com/user/tastytrade1/videos

Why selling options has profits
https://www.tastytrade.com/tt/shows/market-measures/episodes/actual-vs-implied-moves-07-16-2019
https://www.youtube.com/watch?v=amao0pJE1XI
I would start by selling a put on cheap stock you would own anyway.

Guy makes a million a year on 5 million consistently selling options
https://www.youtube.com/channel/UCg6XBPhtVqntGhtAblXxybg/videos

Learn from actual money managers
https://www.youtube.com/user/OpalesqueTV/videos


If you’re good people give you money based on performance
Jack Schwager who wrote the Market wizards book series created a platform to give traders money
https://fundseeder.com/traderplatform
https://youtu.be/IpQK3Oo1zSI

Martin Armstrong has a super computer that makes price predictions and it's really accurate. He has 6,000 years of economic data in there. I highly recommend you read his stuff. That's where I got a trade idea that went up 44X
https://www.armstrongeconomics.com/blog/
http://ask-socrates.com

Value investing
Mohnish Pabrai is friends with Buffet and compounds at 26% and runs his value investing funds himself
https://www.youtube.com/user/mohnishpabrai

Learn how buffet uses reinsurance to lever his returns and compound tax deferred. It's a structural thing.
https://youtu.be/cNQ4UBhj5X4

>>15940947
Thanks anon

>>15940658
>cute

She's a 2/10 at best.

>>15940947
option trading is the red pill

>>15940947
literally everything you posted is a scam selling some trash except for maybe chat with traders

lel

>>15940658
If it makes you feel any better she died in a car accident

>>15941054
whats that? i try to learn shit like this and i always get redirected to subscription classes.

>>15940947
Why should i believe they will tell me how to trade options succesfully if it has a chance of screwing them over?

Nonethess would like to get good at it. As it stands I have an unrealized lods of 6k due to options. Mist dint expire until late November to mid January. Not sure whether to hold or sell em at a loss. Would really hate to sell em and a repeat of Dec. 2018 occurs again soon after closing them out.

>>15940963
>Thanks anon
Glad to help
You ever traded before?
>>15941054
>option trading is the red pill
you trade options anon?
>>15941186
>i try to learn shit like this and i always get redirected to subscription classes.
Just watch tasty trade its free you don't need to learn about complex trades like iron condors etc.
Just sell puts on stuff you would own anyway and buy calls on stuff you think will go up.
What do you invest in/trade now?
>>15941200
>Nonethess would like to get good at it.
If you don't want to sell at a loss you can roll forward. What is the stock ticker for the options you have?
Please provide stock ticker, strike price, call/put and expiration.

>>15941245
Yeah, FX and futures (ES/YM) mostly, but I still struggle with the risk management part. Blown too many accounts

>>15940191
I'll give you some advice OP and for other anons.

Day trading can be a great way to make lots of money in a short time if you know what you're doing. I was testing out a strategy the other day on bitcoin and i 2.5x my account in two days, my initial was only $5, once again testing.

The reason why you should choose crypto over normie stocks is because it's 24/7 so theres more opportunities and the volatility can cause massive gains as well as losses. Also forex fees and interest are disgusting.

The most optimal way to be a good day trader is not to day trade, its to have a bot do it for you and dont be deceived by back testing, it means nothing, use walk-forward techniques and then test on a demo account. Moreover, you need to consider risk management, if your risk management is good you can win even if you lose 10 times in a row. If its bad, your account will be cleaned and you'll become the 97%.

I've got a bot trading for me right now that i developed with a friend. It's 100% automated and i dont need to do anything but check my email for when a trade comes through. I read the news now more than the charts. One guides the other.

Use leverage but make sure its calculated, dont be afraid to use leverage, the closer to a bottom you believe the price is, the more leverage you can use.

Additionally, i've proven in my testing that indicators are utterly useless and they will clean your account out if you follow them. I've found chart patterns to be significantly more beneficial and more identifiable. The crypto market has a select few patterns that occur very frequently and most traders know this and take advantage.

Lastly, use a position size calculator.
https://www.myfxbook.com/en/forex-calculators/position-size

>>15941350
i will literally suck ur cock for access to said bot.

>>15941275
>but I still struggle with the risk management part. Blown too many accounts
I'd listen to the chat with traders interviews there have been guys interviewed that blew multiple accounts before they found their style.

I never have blown an account I've been trying multiple styles and compounding at 12% annually for about 8 years. But my personality is to be conservative.

My suggestion would be to try moving your trading to FX ETF options. I've avoided futures because I can't stomach the possible changes in margin etc.
Try SPY and QQQQ options. I've made 44x on DIA options. So moonshots are possible.

I've had success trading around LEAP options and letting them sit to moon once I have my initial capital back.

If you want high action look at TQQQ and UPRO the 3x leverage ETF options.

The great thing with options if done right you can't really blow up because the trades are defined risk.

What is your typical holding period for a trade? Mine is weeks to months.

Hey what ever happened to that NULS retard with his weird 'ssshh' cult?

I just bought into ALGO, big time sleeping giant. Its holding this zone with ease and beyond that i think Pure PoS is the future of blockchain.

>>15941369
I'm a daytrader, so minutes to hours. I mostly just trade price action on 5 minute charts with varying degrees of success. I work full time now so it's harder to find opportunities since I'm away for the NY session, so yeah, I'll have to look into swing trading options

It seems to me most successful traders tend to be swing traders

>>15941350
>Lastly, use a position size calculator.
>https://www.myfxbook.com/en/forex-calculators/position-size
Please expand on this.

I just use a rule of each trade is 10% of portfolio size for 1 trade with max loss being the full 10%. I do swing trading though so I can use rough rules like this.

I'd love to know how you size trades with your bot. Do you determine size based on the historical daily volatility?

>>15941412
>It seems to me most successful traders tend to be swing traders
It depends on your preference I tried day trading options on the 3x leverage etfs and weekly options I realized some trades up 40% in a day. I gave back all the gains the next day though. I just hated the intensity of day trading.

So for me the long swings feel comfy.

>>15941367
I'll be launching it soon for a small fee, nothing unreasonable.

>>15941424
Max risk is five, average is 1%.
Position size is based off resistance points. Let's say we're $100 away from the local minimum then we use $50 but if we're $10 from the local minimum then we can use $500

>>15942192
>Position size is based off resistance points. Let's say we're $100 away from the local minimum then we use $50 but if we're $10 from the local minimum then we can use $500
Useful info thanks for the explanation, I'll keep this in mind when making my options trading bot.

>>15940658
She's cute now but you can tell she's gonna slam full force into the wall early

>>15940947
Could it be? A quality post on biz? Some recognition for Armstrong too? Weeeee.

>>15940947
where do i start with Armstrong?
Just spoonfeed me this once.

Also, should I get Ben Graham's books? Theyre on sale on this busieness conference going on on campus

>>15942621
>where do i start with Armstrong?
>Just spoonfeed me this once.
This video gives the best overview of how his computer models work.
https://chadanon.s3.amazonaws.com/Analytical+Conference+-+Understanding+Cycles.mpeg
Then I would start reading through his blogs.

I personally wouldn't get Ben Graham's books I've given up on value investing although I had some success investing in the mining industry with it.

If you like value investing
https://www.youtube.com/user/mohnishpabrai

Have you invested or traded before?

>>15942543
>Some recognition for Armstrong too?
You like Armstong's work as well?

I was skeptical but when his computer predicted Brexit and the USA election while Armstrong himself couldn't believe the results would occur because corruption would prevent it I was amazed. Also he's called this bull run in US stock's the whole way.

You trade or invest?

>>15940191
former poker pro here: super accurate impressions from poker. I neeted for quite a bit and started crypto trading on 2017 bull and it can't get more accurate than that.

It's somewhat fun because I see it as a game which I'm good, but it's super hard and this said game is no longer fun when you are relying on that income to survive.

I could have made unironically a few million dollars if I had grinded enough on poker back then when it was easy money, but somehow I lacked maturity + didn't know myself too much so I suffered from lack of concentration/being too conservative on my br management. Nowadays it is still possible to be profitable but easy money is gone.

Anyway, my advice for the fags here is: IF we are experiencing a bull market - which I do believe we are- in crypto, treat it as the last one.

Not saying after that bull it won't be profitable anymore, but if BTC/other cryptos ever survive, I wouldn't count on making life changing money that fast.

Maybe it will. Maybe we will have 2-3 more cycles of wild swings compared to normal markets, but I would rather be conservative and assume odds are around 50% that within 2-3 years btc/cryptos either might go to zero or in case it all survives, margins will be way lower so no more life changing money in a cycle.

I'm being as aggressive as I can be.


>>15942754

very interesting. is it easy to find that on google? asking that because I'm afraid the topic will get locked. I was annoyed when I researched something and then I came back to the post and... boom!

>>15942737
Noice
>Have you invested or traded before?
I haven't my dude. Unless you count messing with the paper trading on some mobile app as either.


>>15941350
>>15942192
What do you mean by bot?

>>15943014
>very interesting. is it easy to find that on google?
The easiest is just to use the search feature of his website.
https://www.armstrongeconomics.com/?s=2016+election

If you new to Armstrong make sure to watch this.
https://chadanon.s3.amazonaws.com/Analytical+Conference+-+Understanding+Cycles.mpeg

If you read his blog regularly you can see the things the computer predicts comes true not always but a lot! That gave me confidence to trade based on it's recommendations and that's been a good decision so far.

Also not that anon but
'bots' are computer programs that trade based on preset rules.

wow came back to the topic and this armstrong guy is rly rly based.

https://www.armstrongeconomics.com/future-forecasts/ecm/2032-how-hard-do-we-fall/

holy shit guys. might be just a confirmation bias, but after watching the south park episode ''band in china'' it somehow became clear that the west indeed has its days counted. Seriously, the fucking Nba, disney etc being made puppets by chinese government? fuck it that doesn't screams chinese overlords are here I don't know what does. And meanwhile half of the west -if not more- is worried about muh overpopulation or muh fascism and muh gibs. I already had plans to learn chinese mandarin but I didn't think the chinks would overthrow the west so ''fast''.

t. not an amerimutt and I'm uber autistic so I barely follow mainstream events, only the things I"m interested at.

>>15943123
Ignore the bot thing.

>>15943132
I did :)

btw I guess you guys itt know peter brandt, right? I'm a member of a website where he regularly publishes a few videos. I know it's not exactly ethical but it's a way to try to give back to the community. If you guys would like to see a few of his and other traders videos drop a throaway and I will send the video link

>>15943129
>t. not an amerimutt and I'm uber autistic so I barely follow mainstream events, only the things I"m interested at.

Keep reading Armstrong then this stuff is totally based because you can avoid the mainstream noise and still have accurate predictions about the future.

I'm from Australia and am planning to play the whole transition to the China having the financial capital of the world via Australian real estate.

It's going to be bad but hopefully not that bad. The UK almost when bankrupt in the 1970's and had piles of garbage in the street from strikes, also the USSR completely collapsed in the 1990's with nuclear stockpiles and things worked out.

Just stay well away from USA government debt and stay away from blue cities because you will be taxed to death.

You should look to see what his models say about where you live.

Read this to see what the Government debt defaults are going to be like.
https://chadanon.s3.amazonaws.com/The-Greatest-Trade-of-the-Century.pdf

This is the documentary about him
https://1337x.unblocked.ltda/torrent/1267790/The-Forecaster-2014-HC-720p-WEBRiP-READNFO-XViD-AC3-LEGi0N/

>>15943190
>China having the financial capital of the world via Australian real estate.

>>15943189
>If you guys would like to see a few of his and other traders videos drop a throaway and I will send the video link

Real vision?

Email
VWRlc2g@protonmail.com
Discord
VWRlc2g#4757

>>15943024
>I haven't my dude.
I found my mind went into overdrive once I started investing. I started with an overpriced silver coin and that was enough to have me emotionally invested.

Not that anon but
'bots' are computer programs that trade based on preset rules.

>>15942754
A computer that would predict the future perfectly is a self defeating idea (you could do the opposite and negate the prediction), but he has access to patterns no one before has studied with this huge of a dataset. Therefore he has great insights actually backed up by something.
I love his stance on precious metals, he seems to not really see the merit of bitcoin but you can't blame boomers for that.
Some of the reader comments seem fake (made by himself to answer, but I might be wrong).

Also his studies of the roman empire and especially roman coinage are great stuff.

>>15942342
FYI this is QcKwcak1 just on a different device.

>>15943205
nope. btc dot live

>>15943232
>Therefore he has great insights actually backed up by something.
>I love his stance on precious metals, he seems to not really see the merit of bitcoin but you can't blame boomers for that.

Yup the predictions are great not perfect, the computer missed the major low in the gold mining stocks in 2016.

I think your right about him being wrong about BTC as well. How else can you move 10 mil out of the system? I can't think of anything other than high priced art which isn't as effective.

>>15941367
You wouldn't be able to use it effectively if you don't understand the code.
Any bot worth a shit isn't available to the public. You have to build your own. Learn Python.

>>15943948
Mine will be available as a signal service, you'll get an email when to buy and sell. I promise you all that you'll get access, i wont even charge much compared to other services.

Screenshotting this for proof because it will happen in the near future.

bump

>>15940191
Find a broker that 1) doesn't receive payment for order flow and 2) also provides you with a direct feed quote as opposed to the SIP/consolidated quote. That is your bare minimum to day trade. Note that no U.S. broker that I'm aware of meets this criteria. That is to say every U.S. broker is selling your order flow to their actual clients (the institutions) and you're paying them for the privilege to have this done to you. You are the product and the institutions are the customers. These institutions are not your friendly liquidity providing neighborhood buddies either.

They are NOT your friends despite the propaganda bullshit they spew 24/7. They have gotten nailed for fucking with the order flow they get, YOUR order flow, but because of the corruption in the U.S., they get a slap on the wrist fine. At the same time your brokers are feeding you distorted horse shit quotes that are not reflective of the actual value of the instrument you're trading. This is pure bucket shop shit, but as long as we use cute terms for stuff rather than calling it what it is, it can go on indefinitely apparently.

My point here is that if you are trading U.S. markets, you do not have a prayer. At all. I have posted here before trying to impress upon people just how bad things are. Crypto markets might not be as bad (and anecdotally I've heard they aren't), some foreign markets are not as bad, but U.S. markets are absolutely broken. The current state of U.S. markets is completely unacceptable and the only reason they remain that way I think is because of the ignorance to how they function. On a microstructure level they are so rigged that if they were a casino, they would be shut down and the government is complicit in this rigging.

>>15940191
>>15945816
At almost every level of the industry there is an enormous scam of some sorts going on. There are educators with no track records or track records of zero profitability ever. There are educators literally on the payroll of the brokers who masquerade as just regular guy day traders on YouTube. There are authors who haven't been profitable since the dotcom boom hawking books. There are psychologists who are basically academic rejects who spew pseudoscience garbage. Brokers committing more sins against retail traders than can be counted. Insider trading or outright Ponzi schemes among the big money managers while the SEC looks the other way. There is no end to it. The strategy seems to be "do so much unethical shit that no one can even account for it all so they just give up in frustration." That being said...here are some examples of what I'm talking about...

SIP vs. Direct Feed (remember you're getting the turd feed, the SIP/consolidated quote)
http://www.nanex.net/aqck2/4643.html
http://www.nanex.net/aqck2/4599.html
http://www.nanex.net/aqck2/4665.html
And plenty more

Market Maker busted for trading against order flow they receive
https://www.sec.gov/news/pressrelease/2017-11.html
https://www.zerohedge.com/news/2017-01-13/citadel-pays-22-million-settlement-frontrunning-its-clients-does-not-admit-guilt

Some of these get into how they flag your order flow specifically to be fucked, but other topics are covered as well
http://www.nanex.net/aqck2/3517.html
http://www.nanex.net/aqck2/4685.html

If you've run into some educators on YouTube you've probably seen these people who are just a sampling of many
Joseph James
https://www.leaprate.com/financial-services/fraud/schooloftrade-com-owners-to-pay-4-9-million-in-trading-system-fraud/
Petra Hess
https://www.thespec.com/news-story/2263632-burlington-woman-charged-in-700-000-fraud-case/

It never fucking ends. You could write a book on the amount of bullshit going on in and around U.S. markets.

You'd be better off day trading forex

>>15945828

This nigger is informed: Everything he said is true. Listen to what he says. Summoning Hunsader in topics of market manipulation, market microstructure, data quality and related stuff is on par with knighthood in at least "retail"-knowledge about markets.

>>15945828
The manipulation is why it’s “easy” to trade. Understand how the manipulators work and you see the same patterns again and again and again

>>15942737
>https://chadanon.s3.amazonaws.com/Analytical+Conference+-+Understanding+Cycles.mpeg
do you have a less suspicious link?

Crypto exchanges are even worse I think, all aforementioned tricks plus there is no regulation to at least push back against the worst scum.

>>15945816
I have trading bots on different crypto sites and fake volume is rampant. You're probably mostly trading against the house. Or market makers + the house, because they need each other.
Exchanges are basically plankton providers for whales.
It reminds me of the gambling world, some sites outright block you if you're a profitable trader.

>>15943190
Topkek take your meds

>>15941458
>trading options on a 3x ETF

Hey bro we heard you like decay so we added some decay to your decay so you can lose money while you lose money.

>>15940191
bump

>>15946309
I respect your enthusiasm, but this is less manipulation and more outright cheating. You should take that enthusiasm and apply it to fairer games or at least fairer markets. U.S. markets will eventually chase everyone off and the people who have polluted things will have to deal with the consequences of that. It's just a matter of how quickly people become aware and accept the sorry state of things in the face of people telling them otherwise who have every financial incentive in the world to keep people playing the rigged game ("Buy my book!..Buy my book!...").

What's going on in U.S. markets is like being at a poker table and the guy you're playing against knows your hand and then gets to choose what cards he gets in response to yours. The manipulations you'd try to take advantage of would be like "whenever I get a pair of kings...he always gets a pair of aces...so when I get a pair of kings I'll just make sure that I fold." But your opponent is screening everything and the patterns you see are the consequences of that behavior.

So basically, the patterns you're observing are a product of the rigging and manipulation at work. Trying to trade them is like trying to "eat footprints." Occasionally you can get lucky trading these patterns because they might be trying to fuck over someone bigger than you, but you can't trade them consistently enough that you can scale in any meaningful way because you would require information that you simply don't have. If you did have a significant enough exploitation of these algorithms, the teams of people who got their STEM PhDs in their early 20s and are now making 6 figures + bonuses to make sure such exploits don't exist would pay you more than you would ever make trading it yourself.

See these HFTs are trading against each other most of the time, but they are united by one thing...trading against YOU. There needs to be some enormous changes before U.S. markets become beyond repair.

>>15947430

Yeah, well, what kind of input are you looking for? I seriously mean that: Voice your concerns, tell us what you are interested in.