/biz/ - Business & Finance

>>21810097
How did you learn to margin? Did it just click one day or did you study on it? I wanna know if its better to margin or have an iron grip til the end

>>21810161
I got lucky. Don't fuck with high margin. I did very conservative trades with low margin.

>>21810097
>313k
>still doesn't know how to use night mode
not going to make it

fake and gay

>>21810097
I'm working wages and pounding out ridiculous hours every week. I'm working myself to death. I have like 10k in debt. I have shit credit. I've recently decided that I need to stop being a pussy and change this shit. I've tightened up my budget. I'm getting my bills paid on time and should have about 10k saved up in the next few months. Any advice you can offer?

>>21810097
good job mate

margin trading tl;dr for a poor pls?

>>21810097
are you me?

>>21810802
just getting loans from broker and using that money to invest. simple

>>21810097
DUDE IT LOOKS LIKE YOU'RE GONNA MAKE IT

I'M SO HAPPY AND PROUD OF YOU MY WONDEROUS FREN

PLEASE ACCEPT MY CONGRATS FOR YOU ARE SO SPECIAL AND SO COOL YES

GOD BLESS!!!!!!!!

>>21810983
This but unironically.

how did you teach yourself to day trade shit coins to begin with? resourses for a beginner lad?

>>21810097
congrats lad

>>21811440
For me it was some posts on /biz/ a few months ago. Advice was basically to check new listings on CoinGecko at least once a day and follow every link and thoroughly research all of them. Check for:
1. Website and Twitter account (both that they exist and that they're not half-assed Pajeetspeak
2. Low market cap (<$500k preferably)
3. At least 10x the volume of your prospective buy in
4. An actual, demonstrated, functioning product
5. Devs are not anonymous and link to their social media profiles (optional, up to your risk preference)

Something will meet these criteria a couple times a week, and you can buy and hold on to it for anywhere from a few hours to a couple weeks. Beyond that, it's not worth keeping your ETH tied up if it's not going anywhere.

>>21812429
thanks mate

>>21812429
What does #3 mean? Prospective buy in?

>>21810097
Vitamin is retarded , ETH will crash

>>21812493
To add to that, if you want to get in before CoinGecko, it requires a much shorter timeframe and the use of a diverse toolkit. The Trendering dapp is useful as a live feed of what's hitting both Uniswap and the Ethereum blockchain as it happens, with some automated scam indicators readily accessible. For charts, you're looking at Dextools, as laggy as it is. Finally, lurking /biz/ is quite useful. The coins you want on /biz/ are the ones that show up in a single thread, get four replies, and fall off the back of the board.
Make sure you have an exit strategy, too. Don't just hodl to the moon; take profits at set multiples of your buy in.

>>21812614
Ensure the amount being actively traded, and the liquidity available in Uniswap, is at least ten times the amount you want to buy.

>>21812630
thank you friendo

>>21812429
doesn't anyone read bitcointalk's altcoin announcement board any more? surely that's where the real money is at. i personally was in the fucking ethereum presale thread and decided not to buy. i could have been a billionaire.

>>21812630
which exchange do you use, particularly for newly listen coins? im aussie so I use coinspot but have a binance account too.

>>21812777
All of this is for ERC20 tokens on Uniswap. By the time it hits a CEX it's too high cap for me, though I'm learning more about technical analysis and swing trading to try to be more efficient there.

>>21812630
also, how much money do you make a day trading? you sound reasonably experienced

>>21812826
>you sound reasonably experienced
That's an illusion. I've been out of the game for the most part since 2015 and I've had to start from near zero, having got into it again earlier this year. I'm still slowly moving my old PoW shitcoins to the Ethereum blockchain, so I don't really have a huge stake to throw around.
My shitcoin gambling stack is like 6-8 ETH. I'll throw 0.1-1 ETH down on a few shitcoins each like this. Most days I scrape by with like $100 in profit, every now and again I manage to strap onto a moon rocket and make a few thousand. I'd be doing better if I hadn't started chasing yield farming and tied up capital there, but it seemed like something I needed to learn about.

>>21812900
okay so you just chuck a small amount of money in and sell when? once it hits the major exchanges hoping its gone up enough by then to take profit?
(sorry if this sounds naive)
also which wallet do you use to put your new erc20 tokens on

>>21812900
How often is it unprofitable or a loss? when do you get out at a minus?

>>21813062
I look at how long I expect the token to rise in value vs. stagnate and slowly drop, and set profit targets there. With microcaps my conservative target is 2x, but that's bitten me lately when I failed to exit at a 1.6x peak a few times.
Wallet is just Metamask.
Exchanges are nice but this strategy doesn't hold long enough for that to matter. A CEX listing doesn't do much for you unless you have a lot of money to throw around; 1-2 eth buys and sells are fine for Uniswap.

>>21813094
It's a loss maybe half the time actually, but since I usually sell losses at 50% vs the profitable flips sometimes doing 30x it's worked out so far. Bull run casino economics won't always be in play, though.
I'll get out if I'm seeing red flags pop up in the Telegram, or if I think the target audience for a token is tapped out. Or if I think it's got a few cycles in it on a general upward trend so I can swing back in later. DESU this is my weakest skill and I need to get better at it. I'm a massive retard so if I can profit in this market, anyone should be able to.

>>21811440
a single thread on biz during early 2018 where some anon shared his tactic and everybody was calling him a complete retard

>>21810097
don't sit out of defi, it's way easier than margin trading
don't count out btc

wtf am i doing someone help
https://etherscan.io/tx/0x036fe4502966b31f4dfddd49bbfe90908c4d36e536d06ebaa4a63a7d4dc4b7c2
stuck pending and i have no eth to speed it up

I pray to Vishnu and Satan your shitcoins grow 7000% bro! Best of luck and early retirement bro!!!

>>21813375
thank you sirs

>>21812900
Are you keeping track of all transactions for when you'll have to declare taxes on all that?

>>21813538
I have them all in a poorly organized spreadsheet and the thought of doing taxes on it gives me actual nightmares, but yes.

>>21813538
Bro he tethers out its fake internet money sir

>>21810097

May the Lord of Shitcoins bless you more Anon.

YGMI!

>>21813551
just hire an accountant for a few hundred bucks holy fuck, fuck trying to work all that out mate. im just printing out a list straight off my exchange to give to the accountant. simple

>>21813736
That's the plan. Just make enough to price in the cost of an accountant.

>>21813194
What is considered as red flag to you?

>>21812429
how do you find coins that are newly listed on coingecko?

>>21813816
Dev wallet dumping, devs silent for a long time past when they'd be expected to be seen, TG entirely silent during a time of day people should be talking, Twitter account banned, stuff like that. Not scientific, just a feeling.

>>21813836
It's under Markets.

>>21813859
>It's under Markets.
>coomcoin (COOM)
CoomCoin
COOM
$0.00034202 4.3% -20.1% $43,171 ? 2 days

>>21814480
How did you miss Coom, anon? It's been all over /biz/ for days.

>>21814480

unicraptoken.xyz (UNICRAP)
UniCrapToken.xyz
UNICRAP
$0.01842237 -2.5% -22.2% $11,118.20 ? 5 days


spaghetti (PASTA)
Spaghetti
PASTA
$0.050065 -9.5% -38.1% $85,673 ? 5 days

so they'll list anyone who asks them to by the look of it
>>21814485
determination i guess

>>21810711
YFI YAM LINK BNT

>>21813275
C-can you share it with me now? I won't call you names, I promise.

>>21810711
YFLINK and buddhism

>>21813538
Just use koinly dude

>>21810161
>>21810097
Sorry I'm a retard. What do you mean margin-ing. Any recommended reads?

>>21810097
Did you deleverage completely? I am half-way to reaching your level. I will take you over, you will see, remember this code in the future: RISKAVERSEPUSSY
I started a year ago (technically crypto in 2017 but I just bought 0.2 btc at 2.5k and held for 2 years), Since last year August, I joined biz and invested around 5k in total over time.
Still had 4 digits after corona dump (still regret not selling then), but during the last 4 months I 20xed. No margin trading, just aave, some early luck and insane arbitrage opportunities

i lost 2.5k margin trading... i am stupid and emotional... and i used 200 leverage

>>21814917
why only 200, is that the maximum you could use? I think some places you can get 500 leverage and so it's even easier and faster to loss all your money

>>21810097
Srs question, have you done any tax returns etc? i'm in your boat, but about 700k usd, never done a tax return in 3 years, made most the money this year though.

Fark abit scared feel like i should sort this out.

you pay taxes etc? or me and you both to Puerto Rico?>

>>21814917
Not lying anon, I've got a FOREX trading system to sell you, guaranteed huge returns sir

I lost brain cells reading this thread

>>21815059
There are several ways to do this. If you are like me, you dont want to pay taxes on ALL of your profits. I have cashed out many times thus far, but I keep a seperate account for the portfolio I plan on paying taxes on. I try to make this portfolio look like an actual main portfolio, while keeping a much larger portfolio on the side. I cash this out by swapping shitcoin for BTC, and then selling the BTC for cash IRL to someone who wishes to buy under the radar. Unless you are a total autist you can do this too. The state thinks I'm paying taxes like a good boy, but actually I am cashing out five-fold by selling BTC for cash. There are many strategies for getting the cash into your account afterwards.

>>21810097
u made it. im proud of u fren.

Is this STA ??

>>21815312
Fark man not sure I could find someone to give ma a suitcase of 500k, while i hold like 200k for it.

I'm confused, they see the transactions coming in/out of exchanges/ wallets etc though don't they?

>>21810161
You're just going to lose your money, don't touch Margin when you can buy shitcoins with higher returns and less risk

>>21815343
disgusting jungle fever fgt

>>21815375
Well of course not.. You sell smaller portions at a time. You do it in public areas. The people who want to buy your bags are just normal people. Sometimes it is people who want to buy drugs online but don't want their identity tied to the coin. I have never had a bad encounter, and I've done it more times than I can count. Takes some work, but you save a TOOOON of money in taxes

>>21815375
Tumblers work, regardless of what people say. Just do it right.

>>21810097
What's your cashing out target?

>>21815418
oooooh yeaaaaaaaaaaaaa

>>21812900
are you in the US?. how do you do with taxes?

>>21815343
u gay?

she's hot af

>>21814800
literally google margin trading lol

>>21810711
All in on $ORBI, gonna rocket again soon once the weak hands go away