/biz/ - Business & Finance

>>28026941
Over what time period and with what coins?

>>28026941
>all the way to 10k and then to 100k
and then back to 800

>>28026941
All the richest people on the planet are swing traders, don't listen to the haters

>>28026941
imagine the smell of tax

>>28026941
maybe b/c you are bad, and don't have a plan. just hodl nigger. it's that simple.

>>28026941
Margin? What coins?

>>28027153

30 percent tax on every trade
which doesn't bother me. it's money i made sitting on my ass

>>28026941
it works on a weekly or monthly scale

>>28026941
youre just retarded.
5k to 150k from september to now.
only swings.

>>28027314

i didn't start out with 5k, idiot

>>28027429
why the fuck does that matter?
you say it doesnt work, i say it does
so wheres your point?

>>28026941
it does work

>$100 to 75k in 2017/18

>>28026941
Of course there’s a lot of money to be made by swinging. I guess the reason it is not advised to do so is because most of us don’t know how to do it well so it’s going to be better for us to find a good investment and rely on the organic growth.

Personaly I swing with a small amount of money so I learn how to do it properly.

I lost $10 by swing trading today

>>28027560
>>28027563
You guys are retarded newfags. His green text is sarcastic. He's quoting people who say swinging doesn't work. Go back.

>>28026941
I swing traded myself from 4.5BTC to 0.2BTC

>>28027251
the record keeping is what give me headache

follow the 9s

how can i learn to swing properly? any books?

>>28027788
I never said he said otherwise? I'm agreeing with him you retarded imbecile

>>28026941
how do u swing with gas fees?

>>28028253

the fees become less the more you trade with

crypto trading is very regressive. it punishes poor traders and rewards rich ones with less expensive fees

>>28027729
Kind of the same. I started with a small amount of money and decided to swing until I had a few grand I could invest and hold. No point in waiting five years for my $500 to turn into 10k. Swing to get capital and then chill and ride the comfy train to make it.

>>28028568

this^

but i plan to make 100k and then buy the least expensive coin on coinbase for .10 and wait for it to moon to 1.00

>>28028568
What coins do you swing? Any useful indicator or timeframe? I want to start with 500USD. Thanks

>>28026941
I swing traded from 50$ to 1300$ over the course of 2 months. Notice me senpai!

>>28026941
Read antifragile

>>28028894

you can use any crypto on coinbase to swing with

i would go with the ones that make the most. i think districtox is the perfect crypto to swing with currently. it has been doing best recently

i think districtox is going to .35 from .17
i bought at .17

>>28026941
Swing trading works until it doesn't. All it takes is one bad trade to wipe out your whole position. This is why swingniggers always get the rope.

>>28029155

if you buy too soon and it goes down further, you hodl fags until recovers
you never short

never short
never fomo

>>28028889
Lmao retard

>>28029130
I thought you swing traded in Uniswap with tokens. I guess swing trading in Coinbase has less fees than uniswap.

>>28028130
second this, any books on swing trading?

swinging is degenerate monogamy all the way

>>28029557

regular coinbase fees are expensive

you have to use pro coinbase

>>28027012
it's pretty easy with ETH sometimes, opportunity isnt always there though
OP is a fag he isnt going to tell you shit

>omg we are geniuses during a bull run

>>28027012

any crypto

i swing traded with ethereum
i swing traded with algorand
i swing traded with link

when a crypto gets too expensive i swing trade with other cryptos

look at the weekly chart and you will notice a pattern. sell high(even if you sell too soon) and then wait for it to dump. never buy at the top(fomo)

>swing trading in a bull market
anon the only time you even consider that shit is when every single TA indicator from macro to micro is screaming sell.

>>28031034

Those TA indicators are full of shit most of the time.
i remember it said strong sell at 26.80 and then link dumped down to like 23.00 dollars

>>28030968
yeah but it's pretty demanding
I made $800 swing trading BNB & LIT all day yesterday, meanwhile my portfolio made a +4k$ without me doing anything
feels like wage slaving

>>28028476
What do you mean? Could you provide an example with some numbers? I'm a Hodler and pretty much scared of any fee.

>>28026941
how do you view your trades like that? what website?

>>28026941
you need to go back, sorry. Nothing personal.

>>28031034
I switched from buy-and-hold to swing trading after the last dump. Have to follow your own instincts, and I think we're in trouble soon. Gas prices are just too ridiculous to keep the current defi/dex boom going.

>>28031830

i only know the fees on pro coinbase

the fees on coinbase are less expensive over a certain amount

>>28026941
wow you made my weekly salary
congrats
im stuck wondering why anyone should give a shit about you

>>28031830
With uniswap as an example
>trade $100 of eth to dai
>$30 fee
trade $1,000 eth to dai
>$45 fee
>trade $10,000 eth to dai
>$60 fee
It stops mattering

>>28026941
wow a 3x in an altseason you're a legend anon

How the fuck do I swing trade OP? I'm jealous of your gains. Do you do any technical analysis or is it just intuition?

>>28027089
this.
>>28026941
you're gambling, and the more you swing, the more likely you will lose. then you will get the cold sweats, get intensely stressed as the coin you swung away from is mooning while the coin you bought drops 15% in a day, then you will start doing stupid shit like pic related.

>>28032340

it's intuition and strategy

>>28031191
RSI on multiple timeframes including the weekly + selling the news usually works for me

>>28032187
Just saved the image even though I don't even have near that much to invest into. But it's goo to know, thank you!

>>28032382
Can you elaborate? Any resources?

>>28027251
on profit

>>28027251
you take great risk and you lose 30% for every win, so a 30% win on a trade is NET ZERO. think about that, for every trade a 30% swing profit means you gain nothing. And you better sell enough to cover taxes before year end or you could end up holding worthless bags like everyone did in 2018 while owing 2017 taxes up the kazoo.

>>28027788
Definitely some newfaggotry going on here. Kek.

>>28027131
The richest people on a plant provide a good or service and work for their money

>>28032532

um your math is wrong

30% on the profit not on whole stack

>>28026941
Anyone who thinks swinging doesn't work is a retard. I'm up 100% from Jan 1st alone. 20% crashes basically always rebound within a week or two.

>>28032532
Dam youre stupid

>>28027089
came here to post this

>>28026941
Don’t waste your time OP I remember telling someone RBC was on a downtrend when we were crashing from .60 and all I heard was “hodling works out better” and “swingers get the rope”

if you make 100 using 1000 dollars on a trade you pay 30 in taxes and keep 70

you don't pau 30% on the 1100

>>28032532
based retard

>>28033267

you don't pay 30% on the whole 1100*

>>28027778
i wish you luck in your future trades fren

>>28028889
>and then buy the least expensive coin on coinbase for .10 and wait for it to moon to 1.00

Jesus fucking christ fren I say this because the above statement lets me know you are CLEARLY a crypto noob. BE FUCKING CAREFUL! See this entire time I thought you were a veteran to this shit so with enough time and heartache you can transition to a successful swing trader however the statement you made above indicates you are in fact a very big crypto noob and that worries me because every single crypto trader when they first started thought they had a handle on swing trading. Instead they were winning small battles and all ended up losing the war. DO NOT GET PRICED OUT DURING THE START OF A MANIFICENT BULL RUN! This is the noob problem. You get away with swinging right out the bat. You get arrogrant and start forecasting where you will be at weeks/months from now. You assume everything will remain constant but this is crypto. The sea is violent and storms will come as the sun sets and moon rises. You will lose the war anon if you are still saying/thinking dumb shit like "buying the cheapest coin on coinbase..." If you cannot see how flawed and retarded that logic is then you are clearly not ready to sail the rough seas of crypto with the big boys and whales and sharks like me. My advice sit back and just hold. Remember that these bull runs/alt runs go in cycles. You don't have to become a millionaire during this cycle. You can just hold and make say 50K this cycle and then get ready during the bear market before the next bull run around 2024 and by then you will be poised to make Millions. Trust me I know exactly what I am speaking about and any anon that knows what I am saying is truth can attest to that. God speed anons.

>>28032532
LMAO this is /biz/, this is who you're posting with giving you advice

>>28027153
Capital losses are deductible too

Swingies gonna swing hard until they lose it all and realize that there is only one thing left for them to swing from.

>>28032532
>big brain time

>>28032532
low iq

>>28032442

i posted this before and everyone laughed at me because i don't use technical analysis and my approach seems retarded at face value

>>28034778

i kind of need to revise this chart because it dumps sooner when i have assumed on this chart

>>28034879

than i have assumed*

>>28034778
Appreciate the reply but I am confused about how to read your picture.

>have a long thread earlier about how taxes work on crypto
>half of /biz/ goes off topic, ranting that paying tax is for suckers
>a quarter of /biz/ can't comprehend how profits are calculated on a per-trade basis
You fucks better figure it out quick if you want to be on the up-on-up on taxes. You have to pay on your net-profits for the year, but they look at per-trade as individual transactions, so swinging but never back to USD means you definitely have to pay taxes on the year's net profits for your trades

>paying taxes
What if you just don't? Who will find out and how? Do you guys get some sort of a notification or something?

>>28035609
Good luck using large amounts of your gains. It's probable (read: super fucking likely) that this is the aspect crypto gets regulated the hardest on. So can you get away with it right now? I mean, I guess. The risk for most people just isn't worth it.

>>28035609
Nothing unless you’ve been trading on a CEX the whole time. Majority of idiots spouting this shit are too chicken shit to trade.

>>28035384
how does that work? does CB report your ledger to the IRS? I talked to a boomer account and they said that it doesn't matter until you actually take profit and then you have to pay CG tax on what ever net profit was. Do they send you a 1099 or do you just have to figure it out?

>>28031414
Making $800 sitting on your ass trading is much better than $150 a day busting your ass

>>28026941
of course it works, it just requires too much time, effort, and yes, luck. move a chunk of your gains into something stable and keep swinging though.

>>28026941
It works until it doesn't
watch out and control risk
If you're too emotional skip a trade it won't hurt

you only lose money swing trading if you buy at the top like a retard thinking that it's gonna go up some more

if always buy near the bottom you have nothing to worry about

>>28036995

if you always buy*

>>28032532
very rare. an actual /biz/raeli with a brain. probably drunk otherwise you would just play along and dab on these retards. what coins are you holding fellow trader?

t. quant

>>28032532
Yeah, no. The IRS will not take equal to or more than you earned. That would be contestable. Keep track off all transactions, that is buys, sells, trades, etc. in a ledger, spreadsheet, w/e. If you are monkey brain and can't do basic math, take it to a tax pro for like a $45 fee, and they'll sort it out for you. Unless you only made $100 trading in a year, in which case why tf are you on /biz/.

>>28037308

there are crypto sites that do all that shit for you for free

>>28036376
Your boomer accountant is just straight wrong. That's true on stocks, but crypto are not stocks and fall under property. Look at it this way:
>Buy coin
>Coin changes in value
>Trade coin
It is at this moment you no longer have that coin and thus have "cashed out," even if it's for a different coin. That is you taking profit (or losses). I'm not 100% on the forms and I don't use coinbase. You're supposed to pay taxes on your net gains or report net losses and yes, do so by showing each transaction.

>>28037445
w-wait so my tax consultant has to see my 50~ monthly retarded swings at a loss?

>>28037445
So are they government going to cover me on the coins I lost 30% on? If not then fuck them I'm not reporting/paying any tax

>>28038098
The IRS is going to want to know, so yes.

>>28026941
Enjoy getting called from Biden's commies telling you to pay 42% tax.

>>28038425
>what are net gains and losses
For all intents and purposes, if you started trading this year, at the end of this year, your total balance will reflect what will end up being taxed. Your net gains means total gains - total losses. If you lost more than you gained, you can even deduct up to 3k of it off of your taxes.

Also does trading from one coin to tether/USDT count as ‘cashing out’, either way I’m not paying any fucking taxes

>>28026941
Props to you IF it wasnt during a bullmarket anon. Daytrading works if you know what your doing

>>28027153
>americans

Land of the free I'm a right?

>>28038633
Nigger, are you retarded? Going from a coin to ANYTHING is "cashing out" of that particular coin. You're being taxed the difference of whatever the price was of the coin before you got in and what it is when you leave. Then again when you leave tether/usdt. Even if the difference is 0, it's still "cashing out" and thus while you wouldn't owe any taxes either direction, you still have to declare the trade.

Getting 2x is definitely the same as getting 50x.
Going from "rent payment" is the same as "house downpayment".

>>28033267
Or just try not being an American. I'm sure Miguel and Tyrone will thank you for your tax dollars.

Swing trading does work... for the .01% of traders and the rest lose. Is that you?

As someone that learned from a successful swing trader and now successfully swing trades, the only people who say it doesn't work are those that can't do it.

Imagine someone telling you that giving a woman an orgasm isn't possible, do you know why he is saying that? It's because he has never done it, simple as.

>>28038863
I’m not reporting it so no I’m not being taxed and never will, fuck taxes

>>28027778
I lost $200 fren

>>28038863
but how should i report what i traded if i dont even remember myself? i started 2 years ago with 400$ and have 10.000 now but idk wherever i put that shit into

>>28039354

cointracker.info

>>28039354
I can’t even remember how much I originally put in

>>28039455

cointracker.io*

i got it confused with cointracking.info

shit

>>28039508
kek nice try uncle sam im not going to link my coinbase to a glownigger site

>>28039320
How old are you, Anon? Nobody here cares if you pay your taxes. Just don't post a pink wojack screaming that nobody told you that you had to.

>>28026941
Stop swing trading.


>Swung traded from 25 btc to 1.8 btc.

Yes, 1.8 not 18...one point fucking eight btc.

>>28039180
okay but what % of people would you say succeeds? Thats the point

>>28039722
Coinbase is glownigger too, get kraken and don’t register your details, then pay someone you trust to send you some Monero and trade without glowniggers knowing a thing
>>28040452
Don’t even live in US and no taxman is coming near me

Is it still profitable to swing trade in a bear market ?

>>28026941
Explain how you don't get obliterated by taxes by swing trading and losing 40% every single fucking sell. Do it now. Because I need to know. I just started doing cyrpto.

>>28032532
Oh god imagine making a 20% profit you start owing money!! That's insane!

>>28041164
Did you even read the thread?

>>28041538
Yes, 90% of it is underaged retards screaming that they just won't pay as if the IRS isn't going to know.

>>28041863
Are you still wanting your question answered?

i don't mind paying 30 percent on each trade. getting 70 percent on each trade is good enough for me

being a neet has made me less greedy

>>28041926
yes

>>28042447
see >>28038593

Only your profits are taxed. It ends up largely being the same as just taxing the overall totals with minor caveats which are more complex. You're just wrong in thinking they tax total buys/sells. It's your net profits

>>28026941
even pigs fly in a hurricane

>>28037445
>>28038452
>>28038425
>>28042606
Net profit per coin. Every trade you make you should be setting aside a percentage for tax. Doesn't matter if the next coin you get into shits the bed you are still supposed to pay taxes on the capital gain once you trade.

>>28042973
And it's eaten by losses from other coins. What you are describing is only an issue between fiscal years.

>>28042973
>If you experience an investment loss, you can take advantage of it by decreasing the tax on your gains on other investments. Say you own two stocks, one of which is worth 10% more than you paid for it, while the other is worth 5% less. If you sold both stocks, the loss on the one would reduce the capital gains tax you'd owe on the other. Obviously, in an ideal situation, all of your investments would appreciate, but losses do happen, and this is one way to get some benefit from them.

>If you have a capital loss that's greater than your capital gain, you can use up to $3,000 of it to offset ordinary income for the year. After that, you can carry over the loss to future tax years until it is exhausted.

>>28026941
I was bored and transferred like 80 euro to an exchange and swing traded myself from 80 euro to 150 euro over the last week for fun.

>>28026941
Hello fellow swing king. some advice for you. once you get to 20k diversify your choice moon shots. I turned 1k in 120k. I went from rubic to shiba, akita, rubic, shake, asko, pux, axia. ive gone early and left early. good luck king

>>28036995
buy low huh? hmmm interesting.

daily swinging is retarded but its pretty easy to ride the waves

>>28026941
I traded myself from 5000 to 20000 dollies.

>>28045838
how long? And any tips on finding good charts?

>>28042973
So I invest in 10 coins and 9 of them make losses but the government doesn’t cover 30% of my losses, the last coin makes profit and the government want 30% of it? Why would anyone report this shit fuck that

>>28033696
Kek im dumping my portfolio

>>28026941
Swing trading is the way. It will continue to work even once this bullmarket is over.

What indicators do you use? I find triangles and resistance/support makes most of my wins.

>>28048666
Flags triangles pennants cup and handle head and shoulders

I swung from 0.0012 BTC to 0.0032 BTC with DOGE in the past few weeks :)

>>28032411
>>28029672
>>28032187

These are Bin.us fees... this is why I switched from CBpro to BIN

>>28048666
are you a bad enough dude to ski downhill?

I swing traded from ~30k to ~160k in about 3 years. Thanks mainly to nvax. But that has afforded me the opportunity to buy other stuff and fuck you if you have a problem with it

>>28026941
>i swing traded myself to 2300 from 800 dollars
BUY HIGH SELL LOW

>>28026941
Oke keep going.

Come back to us in 3 months.

If you're still in the green I'll be impressed. This right now means nothing.

I traded myself from 7 to 27 BTC in 2015 and then back to 7. Good luck retard.

>>28036585
you mean $80 before tax busting your ass lmao

>Swing trade
>Still sell at a lower price than when you bought the stocks

Seriously how retarded are you? Do you know how to limit sell?

im new to crypto and i swing traded from 2000 to 5500 usd last month but then i got greedy and lost almost all of it. I went from 500 to 1100 this week and I plan to get back in the 5000 usd range one day. I trade more carefully now, I dont fomo and stopped buying the top.

>>28034778
Now i understand why you're doing poorly. On taxes, isn't swinging on usdt pairs an option ? t. yuro relieved for not being a taxpayer in burgerland

>>28051457
The literal only difference with taxes is if you hold a single thing for more than a year without changing it at all. That's it.

>>28051626
Yeah, i forgot, Crypto is treated as "property", not capital. Burgers need to get some lobbyists in there, turn that around, it's so fucking retarded.

>>28027778
Why did you sell?

>>28050903
I'm new also, how do you find your strategy?