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49496869 No.49496869 [Reply] [Original]

Is there anyone on this board who successfully left their wagie job to daytrade either stocks or crypto? If so, please tell your story / share advice.
I know most people who try daytrading either lose money or under-perform passive investing (ie. the S&P500). But right now it's the only option I can see to potentially make money other than my soul-crushing wagie job.
I've got $50k in capital to start. I've got a 140 IQ. I've outperformed the market 4 of the last 5 years, and that's only by skimming /biz/ and buying/selling maybe once weekly. I have only ever dealt in traditional stocks and crypto futures. I know how options work but I've only ever paper-traded them.
If I've got even a 1 in 10 chance of being successful, I still think I'm gonna do it. Help me bros. I want to close this sad wagie chapter of my life and successfully transition into daytrading.

>> No.49496937

>>49496869
You can't compete with a.i algorithms
Day trading is a mine field

>> No.49496993
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49496993

You're literally me. I day trade stocks that are strong or weak compared to SPY. You can tell where algorithms kick in by connecting high volume candles on your D1 or M5 charts, sometimes m15, m30, 1h, but mostly just d1 or m5. For spy I might do m30. This gives you a lot of info as to whether a stock is for real or not

>> No.49496995

>>49496937
>You can't compete with a.i algorithms
Explain.

>> No.49497021

>>49496995
By day trading, you're competing against the smartest mathematicians on the planet, all of whom have access to supercomputers.

Who the fuck do you think works at Goldman Sachs and those other firms?

>> No.49497059

>>49496869
Instead of day trading you should look to trade on the time span of weeks to months. On short time frames the market is random, it's basically impossible to win but at longer lengths there really are patterns.

You mentioned passive index investing I think that era is coming to an end, I am not sure passive index invest will still outperform in the next ten years against active management.

>> No.49497125

>>49496869
Put it like this. My weightlifting partner is a daytrader on the s&p500 e-minis and he has lost 40 grand of his dads money trying to make it. Last month he was ecstatic because it was his first green month ever, after 12 months of red. He has blown numerous accounts. I tell him to just find some crypto or stocks he likes and hold for medium/long term but he won't do it. I swear to god his iq is that of a potato. Meanwhile I made over 100k last year on crypto just holding, with less initial investment than he had. Fucking hell

Moral of the story is that it isn't even gambling. Daytrading is below gambling. It is a tax for low iq nonwhites. (my friend is paki, I am white)

>> No.49497151

>>49496869
You need at least 300k to trade stocks to make a living and that is poverty wages where you likely need a part time job to supplement.

>> No.49497184

I dont day trade, but place 1-3 trades every couple of days. I've averaged 115% return on my money the past 3 weeks. The biggest change I did was buying/selling put options. With the economy and market tanking, Ive been riding it down. Last trade I had today was HPQ 40.5 17jun puts that I made around 120%. Prob left a lot on the table as it was trending lower tomorrow, but I bough 10 contracts (1000 shares) and I didnt want to get greedy

>> No.49497240

>>49496869
Most important is the sector. You dont need to pick the right stocks if you pick the right sector because everything moons. Some 60% some 160% but it will all go up. See marijuana stocks 2016, crypto bull markets and now oil/natural gas stocks

>> No.49497261

>>49497240
*2018 for weed

>> No.49497266

>>49497021
The trick is to not try and fight them. Ride the waves of the big whales manipulating. Be the little fish swimming around and feeding on the scraps of the sharks.
I use extremely high leverage with small sums and it works fine. Don't try and beat the market, just discreetly carrion feed on the long and short squeezing events with small enough sums no one cares about you, but you still make more per day than most average normie jobs will.

>> No.49497330
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49497330

>>49496869
Learn TA, especially the good indicators (RSI, MACD)
Just called this BTC breakout

>> No.49497340

>>49497266
pro tip: sometimes if the big whales coom and you wriggle your way fast enough in between their massive candles you can slurp some juicy profits straight off the daily average shaft.

>> No.49497357

>>49496869
look at Cred and DonAlt's videos. Technicalroundup

Cred has a series of tutorials. They're very good.

>> No.49497380

>>49497330
Are you stupid? If someone could just "learn TA" then someone would just program a bot to buy the second those indicators get triggered. You're competing against people on 100 level above you, all of whom use supercomputers.

Daytrading is for retarded niggers (UNLESS you have insider information)

>> No.49497501

>>49496937
>aha don't do it, you cant compete with the big guys

I'm so glad an anonymous person online talked me out of atleast trying. Now I can work a safe, and reliable 9-5 job with unpaid OT and 3 days vacation a year until I turn 65. Thanks for protecting me, kind sir!

>> No.49497654
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49497654

>>49496993
I've been looking around on the charts since you posted this to try and decipher what you mean...
So are you saying that if SPY volume spikes, I should pile into a stock that generally moves at like 2-3x the SPY or something?
I swear I'm not a brainlet, just looking for more direction as to what you mean.

>> No.49497738

>>49497125
I don't think this is a good example. I'm not some trust funder playing with "daddy's money". I've earned all my money the old-fashioned way, I'm not gonna spray it around on bad trades in between "pump sessions" with my homo gym bro.

>>49497151
Wtf why? This seems stupidly high.

>>49497240
Interesting anon.. I like this advice.

>>49497266
>>49497340
Again, this is smart. I'm not some contrarian who's going to "fight the whales". I'll happily just slurp meager gains.

>>49497330
>>49497357
I know and understand TA but it mostly seems like horseshit to me. Or it's self-fulfilling because people have trained their algos to look for "TA setups".

>>49497501
Don't worry anon, that guy didn't discourage me one bit.

>> No.49497775

>>49497738
>Wtf why? This seems stupidly high.
Nigger inflation is 10%. To have the same purchasing power next year you need to make 10%. To make just 15k, poverty wages you need to make another 30% on 50k. If you can make a consistent 40% gain year on year you would be one of the best traders on the planet.

>> No.49497917
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49497917

>>49497380
>Are you stupid?
Are you? Daytrading is completely viable as long as you're not retarded.
>>49497738
TA works 90% of the time, call it a self-fulfilling prophecy or whatever, it still works.

>> No.49497928

>>49496869
>I've got $50k in capital to start.
Try 100K. Do not trade. Just play theta and sell covered options to the retard gamblers. Will you be rich? No. But if you do it properly you'll be fine

>> No.49497934

>>49496869
yes
if you are asking on here you should start with $100 max account for for a year and if you blow it start with $75 and if you blwo it $50 and when u reach zero re evaluate your life . you wont listen though. youll have like a dozen wins on your first account maybe even in a row then you will fund the $50k and you’ll get liquidated that same month. so i dont know why im bothering to tell you anything. i dont care what you do because nobody ever listens

>> No.49497965

>>49496869
Spread trade index futures. That's the only way

>> No.49498267

>>49497380
You don't have to be the best, just better than some idiots
You won't be making as much as bots but moving in the same direction rewards you anyway.

>> No.49498335

If you got any clue on statistical analyses, probability theory, expected value, and risk of ruin, you'd know that TA is bullshit.

>> No.49498396

>>49496869
its a dumb meme that needs to die. Very few make money, and those that do are likely just lucky.

Instead, learn fundamental analysis, sell naked puts on value stocks (and also short tech etfs like SARK, to hedge). You can easily make 2k a month if you use (the interest free) leverage.

The only real reliable way to get rich is to use leverage to acquire passive income streams, making money off of other people's money. Like what banks do.

In addition to making real money, selling puts on value factor assets is far less stressful and time consuming than sitting in front of your computer 8 hours a day, worrying about a single mistake blowing up your account.

>> No.49498414

>>49497059
Why do you think passive index investing is ending?

>> No.49498435

>>49498396
Bro don't spoil my method like that. IVs already been declining in a lot of the shit I sell puts on. I don't need MORE competition.

>> No.49498446

>>49497330
>>49497917
>>49498267
Please anons could you recommend where to best learn TA and master it from
a noob level and up?
>>49498335
>if you know XYZ thing then you would realize
No one asked geek. Tell us something useful or be quiet.

>> No.49498479

>>49498446
Not here to spoon feed, just warn. If you want to get into it, go ahead, there's always room for another sheep to get slaughtered.

>> No.49498531

>>49498479
Didn’t ask to be spoon fed. You’re not warning anyone just showing how much of a weak geek you are feeling superior knowing 99% of people have not looked in to the things you are talking about. Your motive isn’t to help people, your motive is to feel superior about your knowledge. Say something useful or just be quiet you worthless geek.

>> No.49498564

>>49498531
But it's a fact that I am intellectually superior to you. No, I am not helping a dipshit. I even regret posting, I'd rather you get a TA book now and rekt yourself.

>> No.49498693

>>49496869
>I've got a 140 IQ
>>49497654
>I swear I'm not a brainlet
pick one michaeljburry

>> No.49498812
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49498812

>>49496937
Retard
>>49497021
Retard
>>49497125
Retard
>>49497151
Retard
>>49497266
Smart
>>49497380
Retard
>>49497917
Smart
>>49498335
Retard
>>49498396
Retard
>>49498479
Retard

Now do you people see why 9 out of 10 day traders fail? Because you are already failures. Most traders fail because they are retarded or expect to get rich in the first weeks or months and they come in with the "muhh everythings rigged, muhh Algos, HFT's, super computahhs for excuses. It's going to take you years to get consistency and 1000's of hours of studying, charting, practice, review, logging trades and all of that shit.

>> No.49498917
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49498917

>>49498812
Short trade from today

>> No.49498974

>>49498812
now this is some giga cope

find reality please

>> No.49498980

I wouldn’t call it day trading but you can trade without leverage using spot and just have patience to buy low and sell high

You could get stuck holding for 6 months but at the end of the 6 months you end up making hundreds of thousands of dollars

So this is more like spot trading with massive patience

>> No.49498997

>>49497738
>I don't think this is a good example. I'm not some trust funder playing with "daddy's money". I've earned all my money the old-fashioned way, I'm not gonna spray it around on bad trades in between "pump sessions" with my homo gym bro.

The concept is the same, daytrading is a meme that needs to die and you are very dumb for thinking it is the way out of your current situation. And yeah my friend uses his dads money, its kinds of gay. I also worked for all of my money just like you, the "old fashioned way" as you so proudly put it. Lmao. Get over yourself.

>> No.49499046

>>49497738
>Wtf why? This seems stupidly high.
Portfolio margin at 150~200K.
You can't do it without pm.
You need to sell options, but not without having long option hedges in place also. for example, selling strangles but buying narrower straddles.

>> No.49499067

>>49498396
i fucking hate "wheel" faggots

>> No.49499102

>>49496869
Tried day trading crypto, went in with 5k, got to 10k, cashed out 2k and lost everything else. Don't day trade, it's all a fucking scam.

When you perfectly follow all the chart patterns and your short or long is completely fucked by a random 80% dildo in either direction because retarded manipulation.

Maybe stocks are more predictable but I doubt it.

>> No.49499148

>>49497240
>oil/natural gas stocks
Is this still a good investment? I had kind of assumed it makes more sense to invest in alt energy long term.

>> No.49499157
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49499157

>>49496869
Yeah
Make a fucking plan when you trade retard. Entry and exits should be clearly defined.
Try learning some simple signals and TA that all other retards are using.
Learn what a 13/48 cross against the ema is and how to make an entry on that either up or down.
A lot of good day trading is waiting for the trade to present itself.
Backtest your strategies on a paper account first then try and replicate with real money.

If doing options:
Covered calls, poor man covered call, and simple straddles should be your start, don’t yolo on lotto tickets unless you got money to burn.

Find some good free tutors on YouTube, they are out there. Now put your big boy pants on and make some cash.

>> No.49499275

>>49496869
tried this and that was a huge mistake I've ever made. right now I trade occasionally and do not treat it like my job because I love my job and staking on SYLO LM pool for 80% APY, makes it easier for me to earn passively, work, and still trade. but I ain't quitting to day trade. don't try it.

>> No.49499308

It's doable OP, I only make $300 below swing trades, last week I made $800 swing trading, but there's the constant stress losing your money.

>> No.49499323

>>49498446
Check out Philakone.

>> No.49499329

>>49497021
>>49497380
load ze supercomputer fud

>> No.49500738
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49500738

ive read 9 dostoevskys
ive been tinkering with 1:2 timeframe ratio, aroon and modified qqe combo for a couple days.
im seeing okay results on the backtests with 1 and 1.5x 14period atr on the minor time frame. i want to play around with some moving averages because i tend to neglect them. i am 22 years old and escaped canada and currently live in a favela.
i was seeing good returns with a 1:4 time frame ratio with the waddah attar explosion and stochastic rsi, but i stopped trading this with 11 wins and 2 losses because i want better. i will succeed.
daytrading is learning how to engineer and assemble a fishing rod, and then learning how to fish.
curiosity is your friend

>> No.49500763

>>49499323
thanks i am checking his channel now

>> No.49500863

the real odds are more like 1:1000000.
You'll be trying to double your money every year just to not go broke. No one gets those types of returns consistently.
it's hard to make a living off of it even with 500k. but in this macro environment just trying to break even is hard.

>> No.49500984

Who here pulled a x100 leverage?

>> No.49501384

>>49500738
makes sense, bought 100k

>> No.49501401

>>49496995

The stock market is ineffecient on the milisecond level. Your reaction time is on the order of 20 ms so you are already too slow. Then you have to add the time it gets to retrieve and send information to your PC. Good luck competing in this market.

>> No.49501466

>>49496869
>$50k
Wait for another large dip in some oil company and then ape in.

>> No.49501489
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49501489

Honestly yeah, i've left my job 8 months ago and i haven't regretted it since. The key to holding my life together was a mix of daytrading, accumulating bags/staking on longterm coins and participating in as much promotions/events/airdrops as i could on any day. I would literally clock in every day at 6am and finish at 3pm, and i would search in every social media platform for any chance of a project giving away money. Doing this for at least 3 months gave me close to 5k, which is not a lot, but it helped paid the bills, and considering all i was doing was searching for free money, its good. With the savings i had left i just reinvested every time i could, living off as little as i could. Fast forward today, with the right calls and selling when i needed to sell, i've been building my net worth and i am close to 6 figs, which would've been impossible a year ago.
Protip would be to not fall in love with a coin, most of the tokens are good for a while, but when they have to go, they have to go, your gut will tell you that, be smart. Also investing on listings is the best thing you can do with little money to invest, you're basically securing yourself a x2 up to x3 if the platform is a big one like binance. 10 utc bitby is listing vinu, might want to check it out if you're willing to start

>> No.49501503

>>49501489
wheres the noot noot here?

>> No.49501525

>>49496937
>you can’t compete with your monkey brain unless you are a .001 percentile giga brain
fixed that for you
if anything algos make it easier to trade for actual good traders because they predominantly catch late leverage positions (which good traders don’t enter into)

>> No.49501535

>>49496869
I tried it. It was sucess in the beginning. I was happy then I noticed something. For about 70% of my trade throughout a week the trend reverses whenever I put my orders. I don't know if the broker is abusing retail positions or what; this has given me enough doubt to stop day trading. Or may be because I put bigger than average lot. For instance the last traded quantity would be in 30s or 10s; I put 100-150 quantity at once. Does it reverse because of my big volume? Anyone faced this before?

>> No.49501548

To beat the market you have to be do one of the following three things:
Be first
Be smartest
Cheat

The only way to truly beat the market is to go against it, which means doing enormous due diligence on unpopular sectors and find the good companies within them, then buy and hold.

When a stock is running up and you buy shares, whose shares do you think you are buying?
The big houses create the waves and are out before you get in.
Then it's just musical chairs to see who the bag holder will be.

>> No.49501556

>>49497330
RSI is false. Don't think reversal below 20 or 70 is a thing. 80% of time it wouldn't not reverse, especially on day trading.

>> No.49501561

>>49501548
>To beat the market you have to be do one of the following three things:
>Be first
>Be smartest
>Cheat
WOAH A MOVIE QUOTE!!!!!!

>> No.49501602
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49501602

Jeet here. This is today's trade. Market about to close in 20 mins. I have open position which is negative P/L. My advice: don't do it. The algo guy buys retail positions from broker and suck up all retail money. I have tried every other book techniques. It does not work. May be you get lucky 2 or 3 days a month but overall you will lose most of your money

>> No.49501603

>>49501556
RSI is used to confirm a bias not to set one

>> No.49501609
File: 340 KB, 1080x2340, Screenshot_20220610-113556_Robinhood.jpg [View same] [iqdb] [saucenao] [google]
49501609

Swing trading beats the hell out of daytrading. Read forums for news articles to certain stocks, buy as close to the date that the article was posted, sell BEFORE the release date of whatever product the company was shilling in that article.
Up 180k since 2020

>> No.49501647

>>49501609
Damn

>> No.49502108
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49502108

>>49496869
These guys have been doing it daily since 2020 recession so you might wanna snatch a few tricks from them

>> No.49503184

>>49501609
>Read forums for news articles
Got any recomm for good forums?

>> No.49503667

>>49496869
138 IQ here. I made a little money on trading but it's not worth the risk. You can get fk'd by a bart and the price of your assets could remain low over a period of years. You won't want to sell at a loss so you HODL. If you use a stop loss it's guaranteed that your exchange will see that and make sure your position is sold before there is a pump. The best thing that you can do is stake cryptos like NEAR and ICPee.

>> No.49504589

>>49501401
Cant front run every and any trade ever made. This means I will NEVER make money.

Yeah that is how trading works anon....

>> No.49505231

>>49497654
Sort of. SPY is a pretty good indicator for what the market is doing, if buyers or sellers are in control. Whenever SPY dips, look for stocks that held strong. Those stocks will be potentially good longs when the market comes back up. An example today might be CLNE. When the market bounces, look for stocks that didn't bounce, thos will be good shorts. SPY is your friend

>> No.49505599

yes it's possible but not in the form you'd expect.

you have to develop a system with months of back tested data that is statistically shown that you are profitable. Trading is the easy part, you just click buttons. What's hard is managing emotions (for some people, this is why I'm successful) and putting in the time & effort into a system so that it's completely systematic.

>> No.49505707

>>49497266
delete this now.

>> No.49505896

>>49505599
fully agree with this, digits confirm

>> No.49506151

>>49497021
I agree, but it's not impossible. Buy low sell high. That's all you gotta do.

With crypto I never sell, with my spread of 16. It's small amounts of money, if some get stuck for a year or two it's okay. Some jump some dip more then others.

I do have a simple formula I follow and apply that to my routine. You have to do it everyday, you get addicted. Honestly I can train dumbies to atleast double their money every year. But it takes alot of work,Iike full time.

If you get a good platform. And good experience so you can stay calm and focussed. You can day trade and hold a normie job.

I never started trading because I wanted to quit working, that's really dumb. I'm stupid but I'm not dumb. I started trading because I'm good at it. Some people need computers and lots of money. Some people just do well enough to make decent profit and not be a full on daytrader.

I don't think daytrading is a respectable field of work I guess, I have more respect for dumb people who have to work hard. It is hard. In a world without money, just you and them in a empty room.

>> No.49506180

I made 1.5k today from 700. EZ MONEY NIGGER

>> No.49506385

>>49496869
Setup your model to have stop loss just under 2.5xatr. So if you’re using leverage ensure your liquidation price is further out than stop loss. Main thing in day trading is avoid being stopped out by whale algos.

>> No.49506438

>>49505599
Backtesting is fairly useless. You need to forward test using real money. Backtesting will almost always have improper results unless you custom make the api.

>> No.49506500

>>49497934
Nono don't be like that.

It is possible bro, it teachesou really good skills. It's fancy gambling. The human brain struggles for starters, so thats what people fuck up. It's emotions and no peace of mind.

Hold a normie job, start with $500. At best it'll take a year to double that. For you. Think about that. But focus on that. Build a system you follow with rules, write a "program" learn how to vector.

Learn about transaction fees, deposit and with draw fees. Trade fees.

Binance charges 1.5 percent on every trade. So you don't make money past $101.5%. if it even goes up.

The secret OP, the secret number. You should aim for a minimum of 1.618% profit. If you can't make that then don't buy. If you can make that and you buy, you can often make more. It's a good place o start.

>> No.49506763

>>49505707
Bro this is day trading 101

>> No.49506847
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49506847

>>49505599
>>49505231
This is why I'm successful too. Day trading is best compared to counting cards in poker. It's not a 100% garunteed strategy but about giv8ngbyourself an edge. I have about a 65-70% win rate, but I cut my losers early and let my winners run. This took months to develop as this anon says. Id start small, practice, and then do real money. I use TOS, Tradeview, TC2000, and Tradersync to analyze my trades, see what I do right and wrong. And honestly I make roughly 60k a year, it isnt really the exciting rich guy job you expect to be but as I make more money and save more my income will grow. I use a 27k account to trade, with margin I maybe use 30k at a time. I've been doing this for about 6 months. It's doable but it isnt easy, and im no expert but I've been paying the bills this way so far. Good luck.

>> No.49507998
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49507998

>>49505599
>>49506438
yes exacltly, forward testing/ live testing is more important than back testing.

It took me 2 years of spending ridiculous time at the charts before I had a system which was reliably proven and "live tested" on a demo account. It's funny because my demo account started as a way to gain data but I became quite possessive over it and keen to watch it grow.

Pic related is my return since the start of the year. Is this good? I don't know and don't care. It's covered more than my yearly salary for the year waging and I've got 6 months to keep it growing.

>> No.49508070

>>49507998
and one last thing. Don't come to /biz/ for advice on trading IMO. no one has the slightest idea what leverage is and why it is used, probably because retards here gamble with it.

>> No.49508397
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49508397

>>49496869
You can start small and in what is safe, memecoins
Why would you ask me?

Memecoins are cheap coins in which many people leave at least 500 dollars to try their luck, since there is so much movement within them, prices increase quite easily (for example, VINU yesterday had a 50%) and other times it can go out bad, but you always recover.

Therefore, you multiply your easy money, you do not worry if the market falls and you enjoy your profits.

If you want to start with something new, I could recommend QOM, a coin that claims to outperform SHIB, but it's up to you.

>> No.49509010
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49509010

>>49498974
Currently coping.

>> No.49509307

>>49496869
daytraders don’t make real money. need to trade on the weekly/monthly scale if you want to make serious loot

>> No.49509590
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49509590

>>49509010
>>49498917
>>49498812