/biz/ - Business & Finance

>>7564853
Give it a try with 50 dollars and find out.

>>7564853
It's not hard as long as you don't get greedy

>>7564853
You need a solid RSI-tracker on tradingview. If you have this you can't lose with daytrading. Add leverage for more fun.

>>7564853
It's not hard. Just buy whenever any coin of interest dips significantly for no reason.

There's no such thing as an intelligent crypto trader. No coin on the market is useful for anything practical. Nobody reads or follows what any coin supposedly does. Just buy low and sell high.

>but I consider myself a brainlet (about 130 IQ

>>7564853
I doubt iq has much to do with your ability to daytrade.
If you're trading with babby amounts then you're basically gambling because you have absolute 0% control over the market

>>7564992
This is the most retarded post I've ever seen on /biz/.

>>7564909
how does a "rsi tracker" differ from the built in rsi indicators on tv?

>but I consider myself a brainlet (about 130 IQ)

>>7564853
>Is daytrading *that* hard really?

No. I consistently make at least 1% a day

theres no right solution

when a moon mission like november/december happens and you sell out at the 6k ATH as a daytrader would and then it doesnt go down from there, it moons right up to 20k

prolly sucks too. that being said, i also made more money daytrading than holding

>>7564853
> Hi guys, how do I buy low and sell high?
> Do I buy low and sell high? Or buy high and sell low?
> I have 130 IQ by the way, which is believable because it takes a 140+ IQ genius to understand buy low sell high.

Yeah, I dont get it. People say hur dur, buy the bottom, sell the top, but how to actually sell at a bottom? How do you know the price wont increase right after you sold?

>>7564853
I'm too dumb to daytrade so I just use a bot.

>>7565469
>how to actually sell at a bottom?
People do it all the time. It's easy.
When other people are talking about the great deals to be made buying things and everything is on sale you sell.
>How do you know the price wont increase right after you sold?
You have to evaluate for risk your potential upside and potential downside. If you determine the risk is worth it you pull the trigger.

>>7565469
how to sell at top* lol

>>7565190
I actually just stumbled over one which was already programmed and I added it to my favorites. This little piece is bringing me lots of luck.

>>7565544
Holy shit anon, what indicators are those?

the biggest mistake day traders make is using small amounts

Put down 10k and youll cum over 1%, while putting 100, youll want more return so you wait too long to sell

>>7565544
Nice, you beat the market. Or broke the backtester.

how do you guys find a coin which swings a lot and you can make a few 1% on ?

>>7565599
what does it do thats different from normal stoch rsi/rsi indicators tho?

I want to begin learning how to trade, but I live in the US, so how am I supposed to do this shit without getting raped with taxes?

>>7565726
You don't LMAO

Does anyone on the internet have less than a 130 IQ? It's always that fucking number exactly, too. Fuck you pal.

>>7565747
Moon-chasing is not 'day-trading'

>>7565726
trade on BitMEX using a VPN and a false name. No KYC on Mex.

>>7565747
>17 fucking dollars

just buy low and sell higher
just make money and dont lose money bro

>>7565544
how does one get a bot? Is this something you programmed yourself? What would you recommend one looks into in order to facilitate something like this?

>>7565783
I have an IQ of 46 and what is this

>>7565694
Probably nothing, I actually haven't researched further into it because it works good enough for me. I have no idea of mathematical economics whatsoever, I just more or less know what RSI means.

>>7564853
You’re always lucky until you’re not.

>>7564853
Does amyone use cex.io to trade ? Anyone has experience with it ?

>>7565599
does it have something to do with upside down tunas?

>>7564853
the only people who say day-trading is hard are whales who don't want you to take from their pie

OP here, time to answer.

>>7565747
To me it was quite the opposite. Started off with $100, hodled for a few days (two weeks maybe), lost about 5% in the end. Then I put in more $100, and I'm up 10% in a couple days just meddling around with Binance.

>>7565544
so you're one of those fuckers, kek
>put up offer at "x"
>bot puts up offer at "x-1" satoshi
>repeat infinitely
it's kinda fun to fight a bot desu

>>7564992
It could be so.

>>7564976
There are anons with 150+ IQ. But I think they're so autistic they hardly ever post.

>>7564971
>Just buy whenever any coin of interest dips significantly for no reason.
That's kinda what I do. I know the average price range (max/min price) of about 3 coins, and when one of them isn't doing so well for daytrading, I switch to another one that's close to the min price. I'm aware the price can change quite suddenly, that's a risk I'm wiling to take.

>>7564853
Most people are not suited for it, however most of biz seem to be intj or intp (in b4 bullshit) who are statistically more likely to be succesful traders.

50% of profitable traders tested intj in one study.

>>7565599
i love these things, you dont even need to know shit about how they work just when they start making scary looking patterns, buy, and when they make nice patterns, sell

>>7566151
>50% of profitable traders tested intj in one study
No fucking way.

>>7566146
which coins are you hustling rn?

What exchange do you guys daytrade on?

I've been doing Kuckcoin but their volume is pretty low. Was thinking binance but I dont really want to mix my day-trade funds with the coins i actually want to hold (yes i know i should use a wallet but my stack isnt big enough yet to justify all of the withdrawal fees)

Any ideas?

>>7564992
wow

>being THIS retarded

>>7566184
http://www.vantharp.com/articles/personality-type-and-trading.htm

ENTJ trader here. Day trading crypto is definetly not my forte. I can read indicators, and the market somehow always does the opposite of what I do. there's definetly some x files level AI bots involved here

>>7566239
how to spot indicators? what to look?

>>7566184
>>7566151
Well I'm a INTP, with a T/F rate of 50/50. I can be a little emotional at times in personal life, but I have the skill to be quite objective when it comes to trading.

>>7566239
>. I can read indicators, and the market somehow always does the opposite of what I do
No you can't read shit

>>7565345

you use a %2 trailing stop, that's what you do

>>7566276
RSI, MACD, check different time frames and make a decision

>>7566226
This is phenomenal, I can channel my autism into gains. What a time to be alive.
Thanks for the link kind anon.

it's piss easy in a bull market. (get in a bad entry? just hodl, some idiot will eventually buy your bags).

risky and hard in a bear market where you have to margin/short for gains. over the long run though if you want to trade properly with big amounts you're supposed to employ proper consistent strategies like hedging.

>>7565544
How do I into bots?

>>7564853

brainlets lose money day-trading, that's about it.

if you do it right then nothing to worry about, literally you just need a strategy that has a greater than 50% success rate and you're pretty much there

>>7566351
>make a decision

And therein lies the problem.

>>7566387
haasonline, you still have to know how to trade and program the bot with your trading strategies

>>7566418
whats a good strategy? how to form a strategy?

>>7564853
lmao, if you had 130 IQ you would probably understand math and market irrationality and realize you're playing a dangerous game which will eventually end with you losing your money.

Fucking plebk3k

>>7564853
I have two coins, one lower per share and another higher per share. I was flipping CND and AMB back and forth. The best is when a lower per share coin sinks and the higher per share coin goes up. Sell the coin going up and buy more of the one going down. You buy the reversals. But it's best to do that when you have more money in it.

>>7566492

just lots of research and understanding.

I studied for a few months and came up with my own custom one, back-tested several variations and am happy with the result.

A decent start is simply buy/sell on stoch RSI crosses with a 2% trailing stop on both. Its almost guaranteed to be profitable.

>>7566492
form a whale group with your buddies and pnd shitcoins , day trading with pocket change is a waste of money and time

>>7566508
Idk, it's not that irrational as I see it. Just look at the numbers, get the feeling of the market and you'll be able to tell if it's a good time to trade or not. You'll eventually come up with certain strategies, like being careful when buying close to a sell wall or how to handle an annoying bot.


>>7566532
That's actually quite interesting. Did you come up with that yourself?

>>7566551
whats enough currency to make a decent profit? I have a total of about 200k in savings from wagecucking. Is 20k enough?

>tfw no other purpose in life

>>7565599
checkem

but also give the name of the indicator, mine is kind of fucked

>>7564853
Do it for 100 days and then assess your performance.

>>7566849
I might. Screencap this.

>>7566801

if you don't know what you're doing that 20k will disappear instantly lmao

if you manage to find a pnd that isn't just hustling you, then maybe its enough. I would just find a good day trading strategy desu, that way its only you and you're not relying on other people that could fuck you over.

i.e. "hey whales join this pnd group" oh awesome I have 100k lets do this, you pump a coin, its going great, next thing you know bigger whales dump and you hold their bags.

>>7566387
Look up cctx library on Github, you will have to know how to code and you will need a trading strategy.
But after that it is free money if your trading strategy works, also don't pay for a bot when the resources available are free.

>>7566532
I do this with ENG and NULS. Their price goes almost hand-in-hand. Usually ranging in 10-20% difference. NULS on higher-end of daily high? Swing to ENG and vice versa. Hasn't failed yet. Might change with the NULS mainchain launch tho and general news.

>>7567644
Verified by dubs

>>7565544
Lmao none of the brainlets in this thread know pine. You’re putting down 100% of your equity in every trade.

God I hate this board.

>>7566484
>haasonline
>>7567362
>cctx

I'll have a look. I'm familiar with programming, biggest challenge will be the strategy part.
Thanks anons.

>>7564853

>>7564853

It IS possible for some to make money day trading. But a vast majority wind up losing everything.

Remember, if something was easy, everyone would be rich.

If you go in with big bets, if you trade on margin, or if you stop to go to the bathroom, you might as well flush your money down the toilet now.

The future for nearly every day trader:

https://www.youtube.com/watch?v=U1DMrt8dhn4

>>7567853
there was a thread the other day which will help you get a good strategy.
>>7520005

>>7567860
As I said it, hodling - and I have very strong hands - has only led to my portfolio slowly decreasing over a few weeks. Could be because of the bear, I don't know.

I don't mean to imply that the way I make money is the only correct way, that is absolutely not the case.

>>7564853
If it were possible to day trade people far smarter than you or I would have figured it out and the market would adjust accordingly. The best strategy is always to buy something you believe in and forget about it for a while. However this is a testable hypothesis. Put $100 into something you believe is undervalued and hodl for a month and try day trading with another $100. My guess is that the hodl will outperform (unless you get lucky and stumble onto a moon but that's a confounding variable) or that day trading will give you a slight advantage but not enough to justify the amount of time you spend staring at charts. You also have to consider that day trading might not scale. I could confidently throw $100 at anything because if it went to zero I wouldn't even miss it. However, if I was trying to do it with my life savings I'd be a nervous wreck. Ymmv but I'd say try testing with $100 day trading vs hodl, then progressively up the amount if you're successful.

So far all my "daytrades" have been terrible, my TA sucks tho.

Lost around 20% of my portfolio playing with fire.

On the other side, my best trades have been related to hype, buy when something has hype and sell before it pops.

>>7564853
>but I consider myself a brainlet (about 130 IQ)

>>7564853
>I consider myself a brainlet (about 130 IQ)

>>7568046
Wrote this before I read your reply but still applicable >>7568151

I think it's important to consider what your time preferences are. If you have say 10k in crypto today, there is little doubt in my mind that you will be a multimillionaire within 5 years (obviously can't see the future but that seems reasonable). I don't think you'd even have to invest in anything specific, some things will do better than others but crypto is the future. You only really need to avoid the obvious scams and try not to buy something at the ath.

Look at the historical data for eth for instance. I remember when it peaked to $20 the first time and crashed. People were on suicide watch and the project was declared dead. Obviously hindsight is 20/20, but if something was a good buy when it was being pumped, it's an even better buy when it's crashing.

You might also just be pricing your investments wrong. Sat fags get a lot of shit here but they're right. If you believe something like bitcoin is the future, it's entirely possible to make money in dollars and lose in sats or gain in sats while losing in dollars.

I doubt more then a handful of traders beat the market last year. Hodling and finding good icos are the best way to make money.

When I imagine a crypto day trader I think of some loser who HODLS and thinks he's trading or some ass hole who jacks off to his TA charts and cries when it fails.

>>7566146
All of your 130 IQ and made $20 you must be a genius

>>7567905
>https://www.youtube.com/watch?v=U1DMrt8dhn4
HOLY SHIT!
What a perfect illustration of the 5 steps of grief. Like text book perfect, I thought it was going to cut out before we got to acceptance but he got it in there right at the end. This video was truly beautiful.

>>7566894
how much would you need to make a PnD? I mean we're talking 16k btc traded a day. 1% of the trade volume would be 1.2 mil

>>7564853

https://steemit.com/bitcoin/@philakonecrypto/lesson-20-advanced-elliot-wave-wxy-with-feb-11-technical-analysis

https://www.youtube.com/watch?v=HuDjT87co6w
don't miss out on this guy he's very good at TA and knows how to daytrade without bullshit

^ guy says himself in the long run ... investing beats trading every time

>>7568601
I tried day trading with roughly 1/2 of my stack in December. I know for a fact that I am significantly smarter than average because they tested my in school. The problem isn't that it can't be done, it's that it's impossible to time shit.
>initial investment ~8k usd
>purchased 35k link @ .23
>17k link put in cold storage for forever hodl
>used the rest to throw around
>jumped around between ufr, hat, bwk, trx, xvg, ltc, etc, xmr, xrp, poe, posw, bcpt, and others that I forget buying the dips and selling mini peaks
>never held for more than a few days
>peaked at ~40k usd in early jan
>currently at ~11k usd because of the correction

If we exclude the current dip as an anomaly (can't go up forever but we're still in the early days), I 5x'ed my money in less than a month. The problem is that valued in link, my portfolio is only worth 32k link. In other words, simply holding link would have been more profitable. Further, by not holding for very long I missed several opportunities like odn, posw, xrp, and poe. I held all of them before they exploded but sold for a measly 20-50% gain.

Perhaps this is too small of a time frame and the crash messed it up, but this is proof to me that hodl is a much more valid strategy.

>>7569127
You don't fucking PnD things with high volume unless you're fucking Moby Dicks

>>7569238
but how am i going to make a price swing if i dont have the funds mang

>>7564853
>>Not prepared for losses
Come back tomorrow afternoon and give us an update...

>>7569224
Why invest in quality projects then do some trading within that holding between it and BTC?

>>7569305
I meant why not invest... etc

130iq is about 98th percentile

>>7565337
1% a day
>mfw I make 1% trades all the time day trading.

Legit day trader here basically only swing trading, on a good day I made ~30% on what I have on an exchange on a bad day I lose 2%. AMA

>>7564853
Wouldnt the taxes go really high and youd have to put serious effort into figuring out what you owe?

>>7569658
1. How do you trade in this fuckin bear market
2. do you use rsi to trade or what'
3. do you swing trade eth to usdt or somthing else

>>7569658
What resource helped you learn how to do it the most?

>>7569717
I don't lose money in any market, I don't use RSI or anything. Swing trade BTC-X mainly on low volume coins with at least 5-10% difference between buy/sell values and just outbid people. Sometimes I swing with ETH but since I like low volume coins it can take forever for a sell or buy order to go through and my autism takes flight.

>>7569743
Just experience, put $200 on Kucoin try DNA-BTC, I made a lot on MTH because the difference was ~15% back in the day and there was decent volume but now you might have to wait around 30-1hr minutes to get a trade and it might not be enough volume to buy/sell your whole stack.

Pro tip. Look for bots. A LOT of coins have bots running the BTC pairs and on low volume coins you won't have many other humans fugging this up, put a sell order really low for 1 coin then buy their stack, then you both switch teams put a buy order really high for 1 coin and then sell your stack and back and forth. This is by far the best way to make guaranteed money. This is because in general a bot won't look at the amount you're trying to buy and sell for it just see's an order (sometimes you might have to put $2-3 of a coin in to trigger it. It also depends on how lax the person's bot settings are at for gain and buy %'s. If it's lax you can just fug them for more money. It's fast and lots of money because you don't have to wait for the exchange to do the transaction.

>>7569704
God you're a fucking retard, taxes don't fucking work this way AT ALL.

>>7569914
Also check PARETO right now on Kucoin put a bit of money on it maybe $300 if you want to test, it's about to go up. At 500 sats right now but a big buy order just went through. Kucoin is like trading a slight shot you can almost feel the resistance and when it's going to fire off a buy or sell order.

>>7569955
slingshot*. Also for the 5-10% difference between buy/sell's. That's optimum but if you can find 2% and trade frequently then that can be just as good. It's all about the money/time. Any gains are good because fee's are like 0.1% so as long as you're making trade above that who gives a shit but I don't recommend anything lower than 1-1.5%. You just divide the highest buy order by the lowest sell order.

>>7567860
halt right there

>>7564853
Don't be greedy, be patient and you will do fine

>>7565637
This. I'm day trading like $175 and make like $5 a day. You find out fast that its more about knowing when to sell than when to buy, much harder to keep your earnings in a bear market than to make them on coins mini-mooning every now and then.

Does anyone have a Tradingview account and know if buying a subscription is worth it? I'd like to have one since all I am using now is Binance's internal indicators but I don't want to have to program my own shit or pay for a service that is a pain in the ass to use.

>>7569127

lmao! only the biggest fucking whales could actually pump btc, you gotta do it with shitty coins.

What pnd are we talking though, a trading pnd or a pnd "scheme" where you pick a coin, hype it up and dump your bags?

either way, pretty sure its hard. I don't know too much about it myself, I dunno but I just never liked the idea. Yea its "immoral" but I'm never comfortable putting money under stranger's care.

You have to trust that they aren't just trying to get your money.

>>7568025

ay, that was me lmao

srs though, can't go wrong with that one, it'll make bad trades but the good ones will outweigh the bad, unless there's next to no volatility, then you have to watch tf out.

>i make 1% day

Fuck off dude
If you made 1% a day you're a billionaire in 2 months

The true redpill on day trading is that you don't have to be particularly bright to do it. It's more about discipline and being able to distance yourself from emotion/ego.

TA works, but it only works if you use it to minimize your risks. Set a bottom, set a target, adjust your bottom as your profits move up.

Where people fuck up is getting greedy or desperate and trying to hold positions based on intraday TA.

>>7570266
I have a gunbot account I don't use because I prefer just manually swinging. This is what you mean?

>>7570804

this right fucking here

90% of my losing trades are because I do what my own strategy says to not do.

>>7570839
No, I am just referring to using trading view programs over Binance's internal indicators. Binance's is obviously free and I can select whatever indicator and time frame I want so it is very convenient but obviously it is only one exchange and not exactly a trustworthy third party to the transactions. I know tradingview has shit but I don't know if a) you have to pay to get usable charts and b) how to run indicators on said charts.

>>7564853
Its because you're so smart OP, you're like a genius. Only 130 IQ? No i bet you're 200 IQ at least. Day trading is nearly impossible, but not for you OP! You're amazing!


Is this what you wanted to hear?

>>7570360
How many trades does that represents in a day in average?

>>7570917
Replying to myself here, just found a good page on how to use and program tradingview indicators. Figured I would add it here for other anons. Have no idea how to combine this with bots but thus far using STOC RSI and MACD together has given me great trades, albeit I've just started recently.

https://www.tradingview.com/wiki/Stochastic_RSI_(STOCH_RSI)#HOW_TO_USE_IN_TRADINGVIEW

>>7570958

not sure what you mean, totally depends on your timeframe.

If you're trading on 1m candles then there's probably going to be dozens a day, but they'll be bad signals. 30m candles, maybe 1-3 times a day.

I like 5 for day trading and 30 for swing.

>>7564853
it's not hard, it's just so annoying I'm actually thinking about wagecucking again

>>7570804
More on this.

Successful day traders know that it's a grind. They find a system that works, keep their risk-profit potential geared favorably every trade, and stick to it autistically.

You're not going to win every trade, but if you're winning more than your losing over the long term, and if you're doing it with enough capital that you're not getting murdered with fees, you're going to be making money.

The people, and it's most people, who end up JUSTing themselves are people who get lured in looking at all the trades that they passed on or pulled out of too early because they didn't fit their pattern or because it went below their stop and start letting feels dictate their decisions. They fail to see that these are a minority of cases, and they start dicking with their methodology chasing a big winner.

And then, surprise, they start losing more money. And then your ego gets in the way and you delude yourself in the thinking that what your doing is going to pay off because you saw all those situations before where it would have.

>>7571058
Thanks I'll check that out too. Put that in my memory palace.

>>7566146
>>7564853

truth be told, trading isn't the hard part.
the hard part, and the part that screws people is getting a sense of how risky/safe a trade is, and what your position size should be for each trade based on level of risk.

what makes this especially difficult is that if you start out with a few thousand or less, your position sizing is going to be very different than if you were a serious trader and had a large account, say 50k or over.
if you have a 10k account, a safe 1k trade with a 10-20% profit target will net you 100 to 200.
in crypto, the best risk/reward profile comes from intra-day trading. there are still big enough swings to profit, but it's much safer.
so assuming you start with the 10k, you play it extra safe because 1k is a large trade size for that account. lets say you average one trade with that profit per day, you wind up with 200 per day average starting.
once you factor in fees, losing trades, and taxes, it's not worth it for most people to take that amount of risk for such small reward.

a good trader has a big enough account that they can go in with a couple thousand on a trade and still only be putting 5% or less of their funds at risk for that trade. they also balance risk profile of trade, with trade size, with profit margin (and fees and taxes), and also have strategies in place to balance day trades, swing trades, weekly/monthly holdings, and long term investments. there are strategies, but there is no "best method" for balancing all this or else it would have been solved like in chess, or heads up no limit texas hold'em poker.
because of this, you have to find and constantly adapt strategies and also play it a lot "by feel" sort of like really good musicians or fighter pilots, or surgeons. they simply operate and incorporate the info so well it can't be explained other than "feel" and of course, this is all without taking emotional control into account. it's more discipline than outright difficulty

>>7571203
Can you actually do memory palace?

>>7565726
You stop listening to kike lies on a mongolian ice fishing board. Spend literally thirty fucking seconds with an actual tax accountant instead of getting your advice from a Nipponese doll collecting forum. You pay taxes on your gains when you cash out to fiat or taxable services (direct to gift cards, a car, etc.) You don't owe or generate taxes on a trade-by-trade basis. Taxes are paid on your net profits AFTER expenses. ('Buying' another crypto is an expense.)

>>7571272
Yeah, it kinda looks like hyrule castle from oracle of time.

>>7571358
Not creative enough to make the stories
Am i a brainlet?

>>7564853
It's not that hard

>>7571397
Nah bro just imagine you're walking down a path. Like when I used to do katas when I did karate I would imagine myself walking a dirt path between two farms. Just make things up as you walk, maybe some cows off on one side with an apple tree, toss some apples and invite them over pet them ect. Keep walking down the path maybe it goes through some forest part. You just have to be patient. Try lucid dreaming that was really tough for me. WILDING straight from laying in bed to dreams without actually falling asleep.

>>7571223
I agree with you. The irony of day trading is that to do it meaningfully, you already have to have "made it" by /biz/ standards. What separates the great from the average might only be a couple %s a day which is meaningless if you are working with orders of magnitude less money.

>>7566146
>>7564853

continuation of
>>7571223

so far, a good guy i've is quickfingers luc, he's on youtube and steemit and I think his followers put together some other group or community but he doesn't post very often or make super clear instructional videos, just talks about his strategy or what he's doing.

basically, he goes to a chart, finds bases where the price bounced off of, and finds and marks a bunch of those. this tells you what support levels there are. you then watch for these bases to break and price to dip below one, as long as there is another base+bounce at a lower level. this gives you a point at which the market and the movements and support that people were taking for granted are no longer confirmed, and leads to panic on some level. at this point it is a safe bet that this panic will bounce. so you set an alert below the base to tell you when it cracks and buy in the safe region under the base. you can play with different time scales. longer timeframes are safer trades, but have less frequent base cracks, so the best thing is to find a bunch of good charts, mark them up, set alerts, and then wait until one goes off and take a trade. then you have to wait for the bounce and decide how to take profit.
the way luc does it is he puts a few hundred in a coin, flips it until he makes back his initial and then uses then plays bigger swings, and slowly builds a longer term holding with some of the profits from the bigger trades.

an example would be you take coin x back and forth at small size until you have lets say 1k of profit on coin x which is 100 per coin. you put that 1k in a trade, make 30%. now you take profit, lets say you sell half, so you sell 50 coin x and take out $650 to continue to trade with. the other 50 are left in as a longer term hold and sold off in portions if the coin goes up. you then have to balance how much you put in per trade, with how much you already have, with how quickly you want to build a long term holding

>>7571103
I want to make a bot in JS, will use ccxt library and I will follow what you said in the other thread:
"you literally can't go wrong selling a stoch cross above 80 and buy below 20 with a 2% trailing stop on both."

If I can fetch the RSI infos every other seconds then I guess the bot could trade on the 1m candles? Maybe I can calculate it from the exchange tickers?

>>7571547
100%

I started with 4.5k and then added another 5k, after I made some profit and was doing well.
made it up to 60k during the run up but am currently at mid 30s and I don't have any more cash in my accounts to put in at dips. if I really wanted to start day trading my best best would be to sell off 90% of my asests and start trading with 20k in cash taking small safe trades and just being very patient.

one of the things that makes this especially difficult is that you want to be able to act fast, a there aren't a lot of fiat pairings. most is in btc, so while you might be going up in satoshi value, you could be losing money. and if you wanted to hold cash then move to btc then buy your coin, you poy double the transaction fees and it's a lot more messy,
the best thing for crypto right now, and what it needs most IMO is real fiat pairings on a significant scale on major exchanges

also, successful day trading means you take on a lot less risk than the average /biz/nessman thinks you should take on. not quite on the level of scalp trading, but the average person doesn't realize what proper risk management looks like and what level of risk/reward they are actually exposing themselves to

>>7571698
Personally I am just messing around between LINK, ETH, and whatever other coin I have some trust in and is down at the time I'm looking for the next swing to follow. Gets me like 4-5% more a day (on $120 I'm up to $175 in the same$/BTC) but like you said, if BTC is going down, your $$$ is going down regardless of how well you trade. I think this is fine, because I have faith that crypto is going to moon long term so increasing your holdings however you can is great, but if you are paying bills with this its a nightmare.

>>7571562
QFL trading is great for beginners but it isn't the be all end all like his followers think it is. People that aren't careful trading his way can easily fall into the Martingale trap where they just keep layering down on a coin that never comes back up. In one of his videos he even talks about a coin (can't remember which) where he says something like "of course it will come back up". Well, it never did and he never mentioned it again. That said, he's sincere and I actually started there but when I got some experience I moved on. Now I make more money than I ever did with his method.

>>7564853
>IQ of 130
>why can't I trade?
pick one

>>7571669

that would work desu

I would tweak that strategy a bit for maximum returns though, def recommend studying a bit before going all in. Once you have a strategy its literally an if else based on numbers

I don't bother with in depth technical analysis when I daytrade, I just have 3 coins that I track prices and news for. When they go up for no reason, I sell them and buy back in a few % lower. I have increased my stack by around 10% over the last few weeks doing this. It won't make me a millionaire overnight but it should hopefully lead to me having an extra 50% or so EOY.

besides rsi, what indicators would be important to follow?

>>7572896
what was your next step?

his method is still the best I've seen, and of course you can never assume anything will bounce but finding lower bases with qualifying bounces shifts the odds in your favor, just avoid the obvious mistake of buying what you think is a base crack but is actually the death of the coin based on terrible news.
also, he says he does intra-day trading to make most of his money but still day-trades off the hourly chart, I'd rather stick to focusing on intra day with 4hr charts or higher to find longer term bases. also, the more coins you are trading with proper size, the more spread out your risk, so even for him, if he makes a bad call and screws up, he still has enough going on with other stuff that it shouldn't be a big loss, especially since he says he builds each investment form small initial trades

it's also just a great way to read charts and trade without getting confused/drawn in by TA and indicators that look nice but that most people don't actually understand the mechanisms of

>>7571171
what exchange do you use to minimize fees?

>>7573492

can you say which coins?

I would give anything for volatility to not be tied to bitcoin lmao

>>7573545
He has a couple of videos where he gives some insight into his penny stock trading and shows off the pro level scanners he uses. I researched the software, built the same thing for crypto and look for quick dumps to sell on the rebound. Like his "fat finger" trading but taken to the nth degree. I do credit him with the inspiration but my understanding of the market dynamics has grown considerably on my own.

>>7570701

something happening

>>7572896
What exchanges have stop losses and the ability to set alarms like this?

>>7573810
I don't use stop losses but I know Bittrex has them. If you want alerts, there's tabtrader, blockfolio, or coinigy.

>>7564853
Don't need a high IQ (a meme btw) to daytrade. Just need to have discipline to follow your rules, lots of money, and patience.

>>7564853
Are you kidding? My IQ is 89 and I consider myself quite intelligent. I made money day trading.

>>7573891
I am just getting started and using GDAX but their fees are ridiculous. Is Binance better for this?

>>7573981
But OP does have a very high IQ. I'm 89 IQ and consider myself smart so 130 is like genius.

>>7573694
how do you mean "fat finger" trading.
I've seen the effect that large market buys or sells have on decent exchanges, mostly on kraken, but those flash moves return to normal within seconds if not minutes and are too fast to trade based on alerts or scanners, and don't result in substantial dips.

you're probably talking about something slightly different, but good for you if you made it work. I still haven't tried to see how to make trading work as full time employment so I haven't looked into any scanners or tools, and also just like to keep it simple, but of course that won't be viable if I want to make a good consistent salary.
also I can't code so there that

>>7564853
Fucking brilliant pic kek

>>7564909
What's a solid rsi tracker to use?

>>7574028
Binance is cheaper though I'm not sure by how much.
>>7574067
I'm referring to what you're talking about with large sells that return to normal within seconds. I've found a way to make it work.

>>7574034
People who are engineers, scientists etc ( who think for a living) make the worst daytraders. Daytrading is all about execution, executing your rules. Period. Wonder why bots make the market? They don't think, they act on predefined rules without any emotion.

>>7574034
>I'm 89 IQ and consider myself smart

>>7564853

Just buy profit trailer

>>7574199
no fucking way, that's incredible!
care to share some more info?
this isn't a very active thread and I'll sage my posts to keep it low key.

Did you find a way to catch the sell? which exchanges do you do this on?
or do you find a spike, sell some of what you have and then set an order to rebuy with expectations of another big market sell?

for me I've noticed a few correlations of these market sells. they happen more frequently on lower value coins and coins with less liquidity, or at least when the order book shows very unbalanced order books. I also noticed higher likelihood of these spikes when it looks like panic is forming, and that one big spike usually has a few others as a reverberation afterwords.

my biggest trades were actually doing just this on xlm back in early november using kraken. there was a period where it was very flat and then we just started spiking downward off of big market sells several times a day. I set big buy orders at the lower ends of these spikes and alerts to let me know when my trade went through. when the trade went through I would flip the sell on the rebound and put my next buy and alert in. my big break was doing this three times in one late night from 3am to 11am and catching huge percentages. unfourtunatly I didn't hold a lot of xlm when it moved from a few cents to over 3 so I missed some Big gains but oh well.
how have you managed these opportunities?
I've also caught some on EOS/BTC on kraken during the crash

>>7567362
how is it free money? the bot is just doing what you would do except you're not doing.

botting is very risky, you really need to look at the chart and the news to see for yourself what's going on.

>>7574199
or do you have a bot that puts in an automatic buy if price dips at a certain rate that only a big market sell would cause, and use the speed of an automated buy to catch part of the move?
also, these moves are infrequent enough that while you make big percentages, you wouldn't be able to do it regularly enough to ad huge amounts to your portfolio unless you make big orders, which works to your disadvantage both in that it makes the dip smaller by providing liquidity on the other side, or by forcing use to have a buy size that is disproportionately large for your portfolio size. also how do you plan to make money when the markets grow and liquidity and user interface improves to the point that these opportunities greatly diminish?

also, another potential opportunity for you, high frequency trading in traditional markets sometimes leads to large feedback loops that break the system and results in flash crashes of entire markets. you can find examples with some quick google searches, but this would be another prime target for you if you haven't already explored it, so I hope that helps

>>7566418
DO NOT LISTEN TO THIS MORON

Listen to any professional day trader and they will tell you, it's about minimizing your risk/reward ratio. Hardly anyone wins 50% of their trades. Know how to place a trade, where you have a 20% of winning, but because your risk/reward is 1:6 you'll come out positive. Even if you only win 1/5 trades, if that one win nets you more than you lost all together (by keeping a tight stop, and letting your winners run) you'll be set.

>>7574620

>Hardly anyone wins 50% of their trades

t. brainlet

spending a few days on a strategy can easily get you 70% if you know what you're doing

>>7574677
>hurr durr backtesting

you're a fucking moron.

If that's the case, you know that you should literally be a millionaire many times over right now, correct? If you've proven you can win even 51% of all your trades, you are guaranteed to make money at that point

>33 trades

kek.

>>7573631
I do ICX, VEN, and NANO. I choose them mostly out of familiarity with the charts and because I really like the fundamentals of all three. They are tied to bitcoin and don't necessarily have more volatility than other cryptos, but there is enough volume to move large amounts of money around.

I don't really care that they are tied to bitcoin because my goal is to increase the amount of each of those 3 coins I own, as I believe they will outperform BTC/ETH long term. Hence, I don't care if I am losing USD or sats as long as I am increasing the size of my stack.

>>7574677
thanks for your insights, especially your stoch RSI thread from a few days ago. I had actually compiled all your tips from that thread and now you’re dropping knowledge here.

what is that screenshot from? I want to track my trades and their profitability %, etc, but I’m just using a google sheet I hacked together with data pulled from coinmarketcap api. not the most elegant solution.

>>7574453
Sorry was on the phone. I don't want to give everything away but you need a scanner that's up to the moment. The ones Luc shills are way too slow. Think web sockets. Also, keep track of the Ask. Last and bid are essentially worthless. Most scanners look for the last price so again, another reason they're worthless. Lower volume exchanges like Hitbtc and liqui.io are your friend. Ironically, the ones where the API sucks are best since there are less bots. Bittrex is worthless for these trades in my experience. Hope this helps.

>>7575018

>implying your strategy isn't linked to your bot

>If that's the case, you know that you should literally be a millionaire many times over right now, correct? If you've proven you can win even 51% of all your trades, you are guaranteed to make money at that point

and what did I start with? how long have I been trading? lmao

>only 33 trade oh nos

What's up with all the posts on bots in a thread about someone asking to daytrade? The best day traders use price action anyways, and doesn't sound like OP wants to have something trade for him.

>>7575344
It doesn't matter, you could start with fucking 20$, if you win >51% of your trades, your making money every day. And I doubt you started with 20$, you should have acrewed a ton of money if your strategy was true.

the fact is nothing is proven, 33 trades is a shit sample size from a broken back testing program.

there are niggers who have analyzed the fuck outta the market way more than you and even they know price action live trading is the way to go unless you cant be at your pc.

>>7565544
what bot?

>>7575290
makes sense, odds are I'll never actually pursue this myself, but you never know.

I saw the video where luke shows a liqui.io chart and the crashes on it were beautiful, he claimed it was because there was an error that prevented people from adding funds so there was a sudden drop in volume on the bid side and man it was pretty. are you willing to offer anything more specific to look for about the ask?

how do you manage such fast scanners with terrible apis? I don't know anything, but is it because the websocket is different from/doesn't use an api/api data?

>>7571203
memory palace. mah nigga! it works

>>7575426
Leave an email address and I'll explain in detail since we're qfl bros. I've already said too much in the thread.

>>7575539
made a throwaway,
kutrukiste@hu4ht.com
give send me something to verify if you can

>>7575394

>It doesn't matter, you could start with fucking 20$, if you win >51% of your trades, your making money every day.

Yea, I literally do make money everyday, I also lose some though, that screen shot was a 10 day period.

I back off when there's insane volatility but right before it starts going sideways I apply the strategy.

Its also not back-testing, and back-testing is only a problem if its repainting. Hooked up a bot and it bought and sold on those points.

Yea, maybe its about ~$100 less when you take in fees and not exact prices but its still very profitable.

And who says I didn't? I take some out every week to just have fun, put some in savings etc. I'm not going to constantly reinvest into my own stack without regard to anything else.

What relevance do they have? All I care is that I took home money.

>>7575601
You'll know it's me

>>7575625
Again, if you have a strat that works this often, you need to quit your job, get a loan and become a millionaire.

That fact that you say you just use it to have fun means it's not a foolproof strategy because there is none, the last thing to tell a day trading newbie like OP is to find a strategy that works a high-% of the time because that doesn't exist, you need to get your R/R right.

Also 33 trades isn't shit.

>>7564853
I enrolled at Warrior Trader and I can pretty much daytrade ok now. Took me about 6 months to gain back my enrollment fee, but Ross really knows what's he's doing.

>>7575700

that would be reckless, the strategy works but I'm not going to bet my entire future on it like that. The market could crash tomorrow and then I'm SOL.

>That fact that you say you just use it to have fun means it's not a foolproof strategy because there is none

I use the money to have fun, I reinvest some of course but I'm not going to just keep putting it back in when I have other obligations.


>the last thing to tell a day trading newbie like OP is to find a strategy that works a high-% of the time because that doesn't exist, you need to get your R/R right.

lmao, what do you mean man, I'm literally sitting in front of one that is right ~70% of the time.

>Also 33 trades isn't shit.

fine, I'm happy with 33 trades a week if it nets me 1k+ lmao

>>7575644
if you say so, just fyi, it expires after 48 hrs