/biz/ - Business & Finance

[Anonymous No.25225662]

Any long-term profitable day trader on this board?

If so, what's the best day trading books to learn from?

I wish you the best, /biz/

[Anonymous No.25225710]

>>25225662
>>25225662
None, it's all just gambling and meme lines.
I'm sure you will compete quite nicely with a million pakistanis or chinks that want to do the same thing

[Anonymous No.25225755]

>>25225662
Just hold the king a long time and fap to women with penises meanwhile

[Anonymous No.25225760]

>>25225710
They provide liquidity

[Anonymous No.25225774]

Daytrading shitcoins is a meme. Just buy nice project and wait until price comes to you and sell it x2
Repeat until you make it

[Anonymous No.25225791]

>>25225755
unfortunately, checked

[Anonymous No.25225842]

>>25225662
I'm learning.
Up £600 this months from stocks. I'm more of a swing trader though. Currently reading "The disciplined trader".

[Anonymous No.25225877]

>>25225842
*this month

[Anonymous No.25225896]

>>25225662
Throw out the meme lines and support/resistance and just use math and statistical models to do analysis and forecasting

[Anonymous No.25225933]

TA isn't a meme if you have 130+ IQ and know how to use it, despite what /biz/ says.

[Anonymous No.25225936]

>>25225662
that is dream job

[Anonymous No.25225945]

>>25225774
why on earth would it be a meme? because you're too lazy to learn it?

[Anonymous No.25225960]

>>25225774
Good strategy but not that easy

>>25225842
Thanks for the recommendation

>>25225896
Any good resources to explore this path?

[Anonymous No.25226043]

>>25225760
>>25225842
>>25225933
>>25225945
Look at these fags that don't know what they're talking about. Y'all need to learn a lot so go ahead, day trade away, i'm sure you'll make millions

[Anonymous No.25226084]

Protip: anyone who says something along the lines of "I've been day-trading for two months already and I'm already in massive profit" can be automatically discarded and disregarded, because more likely than not it's a fluke and he'll lose everything over the course of the next few months.

The only real proof of day-trading success is when you've been doing it for years, and not just by "teaching others".

[Anonymous No.25226106]

>>25226084
That's why I said long-term bruh, but thanks anyway!

[Anonymous No.25226311]

[Anonymous No.25226377]

>>25226311
checked and based

[Anonymous No.25226436]

>>25226043
Why are you putting people down? It takes years to become a profitable, consistent trader. It's really hard

[Anonymous No.25226457]

>>25226311
That’s the good stuff

[Anonymous No.25226560]

>>25226436
What i'm trying to say is that you won't find a pattern in the stock market. You're just wasting your time with all that superficial shit, it's mostly random and when you make money it's just luck, not because you found some pattern

[Anonymous No.25226668]

>>25225662
I just read, I believe it is called, How to Day Trade for a Living by Andrew Aziz. Good book, I don't doubt that if you read no other book on trading and practice his methods you'd have a shot at it. He covers everything and the latest revision was written in 2020.
I don't day trade just trying to round out my knowledge.

[Anonymous No.25226813]

>>25226560
You are just to stupid to understand TA.

[Anonymous No.25226852]

>>25226436
He's a bag hodler judging by his reply >>25226560. He must have most of his portfolio on Index ETFs or BTC.

[Anonymous No.25226894]

>>25226813
Alright dude, like i said, go and day trade all you want.

[Anonymous No.25226919]

>>25226043
You don't try to make millions, you try to make $500-$2000 a day, and it's often 3 steps forward 1 step back. Trading with more than $100k capital (usually like $50-60k is the limit) is hard because there often isn't enough volume to get in and out of a trade quickly, you end up with too much spread so there's a limit to how much you can make.

[Anonymous No.25227002]

>>25226852
Judging by your reply i don't see any arguments against my claim, so i guess i win

[Anonymous No.25227196]

>>25227002
You know damn fucking well the discussion you want to start is a on-going discussion in Finance. Not even the experts have a answer to the Random Walk vs Efficient Markets question.

[Anonymous No.25227254]

>>25226919
>$500-$2000 a day
You know that old saying? Action speaks louder than words. Yea you totally make daily returns in that range, totally man. Day trade for a year and come back to biz, share your story with us.

[Anonymous No.25227272]

[Anonymous No.25227296]

TA works very well on crypto
i think it's more of an art form, you need to have a trader's intuition to use it correctly
however if you are a mathematics/science guy you could take a look at quantitative analysis (it's what larger institutions are using)
both approaches work but they require different personalities and thinking styles

[Anonymous No.25227381]

>>25227254
>i can't make those returns
>therefore no one can

[Anonymous No.25227542]

>>25225662
>>25225662
None. 99% of the information out there is just propaganda.

The whales control how price moves, want to learn how to be successful at trading? Learn how the 3 major types of retail traders get stopped out: breakout, support/resistance, supply/demand

Expect this journey to take over a year

[Anonymous No.25227603]

>>25227381
I never tried to day trade because i have done my research and know that the odds are stacked against me, like by a lot. Trust me, way smarter people tried to outsmart the market then you, one example would be Jim Simons. Your bullshit predictions are just gambling, you can get lucky, but chances are you will lose money in the long run. Do what you want, i'm not here to babysit anyone

[Anonymous No.25227644]

>>25225960
If you want TA take your pick from this list https://drive.google.com/drive/folders/0B1s-Y597iYjabW5rZklPTzlpcmc

For algo trading I've been reading the Ernie Chan books. I find TA too subjective.

Algorithmic Trading Winning Strategies and Their Rationale

Learn Algorithmic Trading - Build and deploy algorithmic trading systems and strategies using python and advanced data analysis

Machine Learning for algorithmic trading

[Anonymous No.25227699]

>>25227603
have you ever heard of the old saying "dont knock it til you try it?" sounds like you're just trying to spread negativity to cope with the fact that you're either too lazy to learn how to swing or you're simply not intelligent enough to be profitable at it. odds aren't stacked against traders who have a proven track record of being profitable. sounds like you're just a seething midwit who's too lazy to learn to trade so you hold bags without technical understanding of price movement/what the market is actually doing

[Anonymous No.25227746]

>>25225662
Long term profitable day trader is an oxymoron. If you believe otherwise you are a moron.

[Anonymous No.25227755]

>>25225774
I missed almost all the 2017 bullrun with this sucker strat

[Anonymous No.25227776]

>>25227381
Have you been to a trading competition?
1. Made about 400%
2. Made 200%
3. Made 100%
The rest of the top ten increased their accounts by about 30%.

I recommend you guys go to these competitions just to have reasonable expectations

[Anonymous No.25227795]

>>25227603
obviously the odds are stacked against you it's a fierce competition
most people who try trading will fail and lose their money
>>25225662
OP you have to realize that you will need to spend your entire time learning/trading in order to make money
only do this if you are willing to go all out

[Anonymous No.25227826]

>>25225662
Markets in profile for understanding the auction process and fundamental forces in structure, can build upon it with wyckoff or anything really but watching the charts and seeing the auction process in action and the interactions between supply and demand is beautiful when it clicks

[Anonymous No.25227914]

>>25227699

[Anonymous No.25227938]

>>25227644
>>25225960
For context I've tried price action trading it didn't work for me there are too many things that can go wrong and there's no way to backtest years of data in hours. Then I fell into the NNFX shit with technical indicators and realized I should just do algo trading.

[Anonymous No.25228009]

>>25227699
We can argue all day about it, but show me actual results you have made. If you made 2x daily returns of an average wagie, like let's say 162 dollars is what a wagie gets per day. If you make over 300 dollars daily and consistently, then i will agree with you. But this can't be a one time thing, let's say over a month

[Anonymous No.25228020]

>>25227699
Kek, I am a profitable day trader btw but what you say is stupid. Why would you "try it" with real money if you know that the market is heavily manipulated and only 5% of basement traders make it.

The institutional traders know how you trade (because trading education is online, public, and free) and they program their algos to specifically take out your stops, that's their fucking jobs: to fill their own orders by taking you out. This is a game you can't win without years of experience.

It is a brutal and ruthless game, and there is no difference between swing and day trading, you just lose your money slower on swingtrades unless you just HODL till you are in profit.

[Anonymous No.25228101]

>>25227938
Who did you learn PA from?

[Anonymous No.25228444]

>>25228101
I just read books and try backtesting on past data then apply it to live trading shit was too subjective for me. If price action was 100% mechanical and systematic I'd give it another try. That and I like programming and analyzing more than watch charts.

[Anonymous No.25229068]

>>25227776
have you been to a coin flipping competition?

1 got 10 heads in a row
2 got 9
3 got 8
rest of the top ten all got at least 6 heads in a row

[Anonymous No.25229094]

>>25228020
you're reithis is nonsense, stop larping, among other things actual traders don't use stops because it's definitionally doing a trade you have no reason to believe is good

[Anonymous No.25229219]

>>25226084
People only brag when they're in massive profits, not when they're in massive losses.

Only way to daytrade is by small positions with defined risks and good stop losses over a period of years.

[Anonymous No.25229589]

Thank you for all the replies frens I appreciate it!