/biz/ - Business & Finance

>>21596137
yes, unless you're one of the idiot 90% who somehow manage to lose money

>>21596137
kek go back to plebbit faggot

>>21596198
stay trading shitcoins poorfag

>>21596230
if you aren't day trading shitcoins you're ngmi

I just think it's fun lol, I've only made a few hundred dollars through swinging shit coins in the past few weeks but the experience was so satisfying
>>21596185
90% of people fucking up isn't that impressive if you are used to all the other stupid shit that 90% of people do, and can see how you are different than them

>>21596316
Same boat. Great advice fren. While learning all of this shit overall, I realized that I am acquiring a set of skills that 90 percent of the population will never even consider learning, let alone be good at. It’s a steep learning curve, and I’ve come a long way in a short amount of time. That alone is worth it.

I've made 60% day trading in the last two months without any kind of particularly deep analysis. $4500 -> $7500 That's while learning some painful lessons about trading fees depending on which site you're on and also being an impatient dipshit in general.

I'm sure there are people who will boast higher amounts, but I prefer a reliable method because realistically? If you can capture 3% per day, that's more than you can make on hardly any real markets. Sometimes you lose, sometimes you win more. But look at it like this:

3% per day with $10,000 is $300 before taxes. That'd be almost $40 an hour with a regular 9 to 5 with virtually no effort on your part each day.

>>21596316
>>21596632
humble yourselves before the bear does it for you

>>21596632
>>21596664
based
>>21596703
it's HODLers who are in real danger of a bear market, if you're a decent day trader you'll just stay out of the way lol

>>21596137
> Bilateral Patterns
> It might go up or it might go down!

>>21596316
It's fun til you lose

>>21596137
you have be good first

Isn't there an trading algorithm bot to automatize that?

>>21596664
Care to share any tips or advice? Pls help a newfriend.

>>21596664
>>21596632
Any tips to get started or where to go to start learning how to do this? I am literally brand new and would like to learn. Thanks anons. Pls respond.

>>21597141
it's complete bullshit so why would you automate that. trend analysis is horoscope tier garbage

>>21596137
this plus that makes me a lot of gains

>>21597521
It probably is on a macro level but it's hard to deny that there are semi-predictable ups and downs in the course of a day

>>21597141
bots can't do that
bots can only do high speed trading with high volume

>>21597460
>Technical Analysis of the Financial Markets A Comprehensive Guide to Trading Methods and Applications. John J. Murphy

>>21596316

>it’s fun I’ve made money
>made money
>over the past two weeks
>two of the most bullish weeks in memory

Get a load of crypto Warren Buffet over here

>>21597141

Yes, it's called harmonic trading

It works well until it doesn't. Having a bot sling all your capital around is a good way to wake up to a kill-yourself-day.

>>21597990
Kek this, who hasn't made a killing in the past 2 months? If you are reading this and somehow are down then honestly this game is not for you.

>>21598079
>It works well until it doesn't
KEK

>>21597793
no it doesn't. only retards think those candle patterns give you an edge

>>21596137
Technical analysis is fucking bullshit. How anyone could believe that nonsense is beyond me.

>>21598415
simply saying something is bullshit does not make it bullshit

>>21598483
if you had any maths/finance background you would know TA is proven to be bullshit.

Bounced off most of these today, lines on chart before the open.

>>21598734
masters in data science, neet

>>21597362
>>21597460
Buy low. Sell high.

If you feel like the market is losing momentum going up, sell and take your benefit.

If you feel like something is dropping, cut your losses.

If something seems unusually low, buy it.

If you see something mooning and you fear your'e missing out, DO NOT FUCKING BUY.

3-8% is great. Don't hold out hoping for the moon.

Do NOT use coinbase normal. Use coinbase pro. Normal has a 1.5% fee on every transaction. Pro has a 0.5% fee which also goes down the more volume you do. This allows for wider profit margins.

>>21599030
good, so you understand what a backtest is and why ta is bullshit.

it's fun until you lose.

protect your capital
limit trades to 5% of your total bag
i dont trade anything in the first or last 30 min of the market session

have a plan for your entry and exit points. "it's gonna go up and then imma sell it" is not a strategy.

daytrading is interactive risk management. you have to learn your own impulses.

>>21598349
well, look at this and tell me that this is bs

>>21599030
Like he said, if you knew any math or finance...

>>21597460

TA isn't bullshit, but i consider it 'trend analysis" instead of "technical analysis". backtesting is bullshit imo

instead of reading charts you just need to read /biz/, youtube, twitter, and reddit, get in the telegram groups and ride the daily scams

>>21599054
This, everyone talks about all this fancy shit but really it's just about having some intuition and not missing out on obvious things like using a better service that takes way smaller fees. Being a day trader on regular coinbase is basically untenable but I still hear about so many otherwise smart people using it.

>>21596967
its even more fun when i lose because then i get to bust out the pink wojaks and actually feel emotion again

>>21599054
How many hours a day do you spend looking at the market/trading?

Do you set those automatic buy/sell limit options, if they're even a thing on coinbase?

Can I keep my crypto on the exchange or should I get a separate wallet?

Thanks anon.

>>21599250

top left first row "technical analysis of the financial markets" by john murphy is the best charting book ive ever read

>>21599328
based

>>21596137
you COULD spend every day agonizing over small day trades
or just do a few days of research into a good coin and invest into it and get better returns

>>21599395
retard

>>21599194
not sure if bait but if you can't see there is no edge there I'm glad you're part of the 95% who will lose money. we make money out of retards like you in the market.

>>21599369
>>21599439
real insightful lingo you got there faggot

>>21599482
nigger

>>21596137
So you really believe some retarded stock charts and stock theory from the 80s have any relation to modern real live events which affect coin prices the most?

>>21599111

>>21596137
fixed your image for crypto scam markets

>>21596303
Is it even worth and can you even profit? From what I've seen profit is so big that I with $20 can barely profit on kucoin, unless I do it 24/7..

>>21597793
this chart is fucking stupid. the harami candles don't even make sense. how does the 2nd candle open in a different place from where the 1st candle closed. stupid fucking chart.

>>21599583
$20? you're kidding, right?

>>21596137
TA with crypto only works at all with the daily chart, and even then it's not a sure thing because of all the pump and dumps always going on (remember Caps Lock Anon getting BTFO?). The only TA that I've seen work consistently with crypto is the rainbow/trololo chart, and even then it's on such a long term scale that you might as well buy stocks.

Day trading works a little bit, sometimes, but it's very inconsistent.
If you have good gut feels for which patterns to enter and why, then you might make it work. If you just follow recipes with no instinctive "gut feeling" you will lose money in obvious pump & dumps. A lesson Biz still has not learned.

But yeah there's apparently more money in day trading courses than actual day trading.

>>21596137
Daytrading is the secret key to going broke.

>>21599677
I misspelled. Fees are too high. So You have to put in thousands to even gain something.

But yes, I hoped to trade from $20 to $100 at least as a beginner. I lost so many on other crypto scams that I basically want to make up all the lost cash from basically nothing.

I've looked into trading bots but they all are not worth and do not work properly.

>>21599339
I spend a ton of time looking at the data. It's a really nasty and addicting habit. It's mostly just up and I'll glance over at it while playing games or watching something.

I set automatic buy and sell whenever I go to sleep. If I'm watching, I can possibly get better deals, but whatever.

I keep it on the exchange.

>>21599320
Yeah, that was a big one for me. I will say, the two things I've found enormously helpful are the MACD analysis and reading the book orders. The price analysis combined with the volume analysis in a very simple way helps you make much safer decisions.

>>21599822
>I set automatic buy and sell whenever I go to sleep.

How well has that worked for you? Any profits?

>>21599482
i fucked your mother

>>21599661
The price changes directly based on trades it is not continuity. Low volume makes the bids and ask prices scarce along the number line. It's the next highest bidder like a live auction

>>21599822
Do you have any tips about the book orders? I can see how they give a lot of info but I don't know how to make use of them

>>21599452
seethe fag

this is the daily chart of lend at 1k SAT which just didn´t make sell after buying at 150. I know i´m making a lot of money.

>>21599054
>0.5%
too high

>>21596664
plenty of coins have 10xed in the last 2 months you could have done 10x less work and made 10x more money

>>21596137
yes

xamp

Relative Strength Index is the most useful indicator for crypto imo

>>21596137
xrt

>>21599864
not that anon obviously but I did the same thing and put up a sell in the 19.6 range for LINK. my orders almost never go through but I make sure to put them at extremes. IE if I think something will crash in my sleep I put up half a buy at the resistance, and the other half another -10% from the resistance or something. Same with selling off if I think it's going to pump but I also think it will lose steam.

The catch is to put them in increments small enough to where whales won't look at it on the books as something that needs avoiding, and also to not get too greedy

>>21599747
it's not about whether it "works" or not, it's about patterns and statistics

link

>>21599822
>reading the book orders
fags think they can pick up HFT by "reading" the order book. hilarious.
>>21599930
i'm a crypto market maker, 95% of you lose money. i don't even want to educate you why it's bullshit.

>>21596137
Unironically yes.

>>21599808
you don't need thousands, but starting with $20 you're going to get eaten alive by fees

>>21599931
it drops to 0.35% once you pass $10,000 in volume (a bit confused by how that is calculated actually), and falls more after that

>>21599864
Well, I don't know if you have something else in mind, but I'm just thinking about sell and buy limits. Like say the current price is $0.50 and I think I could maybe score a bunch at $0.45. So I just set that and go to sleep. I don't shoot for the moon, I just do conservative estimates and it works.

>>21599928
Aggregation is key. At a low aggregation, the book order is just scrambling all over the place and it's virtually impossible to read anything meaningful from it. On the other hand, if you're sitting there with bated breath wondering, "Will this go up past $0.65?" Looking at what kind of volume the market is doing per minute vs how the wall of volume at $0.65 is doing will let you know whether or not you should dip out.

>>21599933
>>21600044
As I claimed in the original post, there'll be hyper aggressive people like these two posters who will shit on everything and talk a huge game. I'm sure they do fine and probably better than me, but I'm just offering my strategies for managing risk. Risk is what scares most people away from doing this.

Take it easy, give it time.

>>21599808
Now that fees have settled a bit, you could probably get in with 1ETH and flip uniswap coins. Even then though, if you can't afford to lose ~$400, you should probably just hold more reputable projects.

>>21596753
hodlers are the ones accumulating during the bear. you’re going to lose everything.

>>21600225
>>21600255
i read everything you two said and both of you are fucking retards who don’t have a clue. you made some pocket change during a bull grats. 60% these last two months is nothing btw with how the whole market has been moving. most anons here outperformed you doing nothing. i say this for your own good, humble yourself before you lose everything.

>>21600794
Thank you for your input.

>>21600255
>I think I could maybe score a bunch at $0.45

What then, just wait a week if it goes back 0.50+ ?
Do you get any hints from reading news, private chats on certain coins, so you get the idea what limits to set?
That has to be a very stable coin to do this kind of thing.
With scamcoins (like POMP and COOM coins) you can just do it for an hour and double or triple and dont have the stress for the rest of the week. It's basically like gambling off completely unaware new crypto people - the same ones who would have sent bill gates BTC. lol

>>21600794
Scammers create an erc token with $8k get up the hype, few hours later they leave with $90k ...