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/biz/ - Business & Finance

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27255286 No.27255286 [Reply] [Original]

I suck at day trading. Is it even possible for a retard to make money this way? I keep bailing when I see a little dip, then it goes up, I get FOMO, and I buy back in. Honestly most of my losses are because of trading fees. I'm using normalfag coinbase which might be one of the reasons I'm losing so much money.

How do I do this? Should I just hold? When I see a dip I'm worried it's gonna crash.

Is there a good strategy for at least not LOSING all my money? I know people day trade crypto (and stocks) successfully but I clearly need to change my perceptions and behaviors.

Pic related, it's me. I have cancer

>> No.27256465

read 'Intelligent Investor' by Benjamin Gayham

>> No.27256872

>>27256465
"Intelligent Investor" doesn't work in today's monopoly money reverse standard nigga. It's ironically the day of speculation as much as possible for seeing some considerable amount of gainz. Jews destroyed the work value, so all the young generation has no choice but to speculate to climb the class ladder.

>> No.27257011

>>27255286
>When I see a dip I'm worried it's gonna crash.
Realize that the Bogs aren't manipulating the market to crash it as soon as you buy in. Set a stop loss based on how much pain you're willing to tolerate and then don't touch it.

>> No.27257170

>>27257011
What is the best crypto app for doing that stuff? Coinbase doesn't let you

>> No.27257199

>>27255286
>Day trading
I assume you're a fucking retard who came here 2 days ago. Look you'll lose it all

The only way to make it in crypto unironically is to

1) Wait for everything to collapse -90% in a bear market then spend your whole salary accumulating some crypto like cardano, avax, etherium, etc .Never sell ever and just keep adding and then 5 years in sell some
2) Make your own crypto

>> No.27257277

>>27255286
>coinbase
nigger, coinbase has MASSIVE fees coimpared to all other exchanges, use binance

>> No.27257283

>>27255286
You invest into legit projects such as Avalabs' Avalanche, and HODL at least a year, no need to trade excessively. You'll thank me in 2022

>> No.27257354

>>27255286
Simply put act like you'll change the direction with your trade. I made x3 yesterday, starting with $500. Learn how the market works whatever market it is won't work with another so focus on one market. You'll lose your money almost certainly, accept it as payment for intro fees and lessons and whatnot. I had to lose my initial like 10 times for me to realize what to do, do this and your account will boom.

>> No.27257362

>>27255286
You need to be autistic, or a sociopath. Either way, it sounds like you have emotions. They are going to get you in trouble

>> No.27257387

>>27256465
the guy who wrote it never made any money investing

>> No.27257472

>>27257011
>Realize that the Bogs aren't manipulating the market to crash it as soon as you buy in.
You lie.

>> No.27257607

>>27255286
Sheeit, I be pressin da shift key plus s, d, f, and space while I be hittin the numba keys, all while looking at a screen dat reqwies no text input and sheeit.

>> No.27257642

>>27257170
Coinbase Pro isn't exactly full-featured, but you can at least put in limits and stops.

>> No.27258057

>>27256872
this
the only way to make money is stay on top of memes in the normie market and dump shitcoins before pump happens and then quickly sell at the following small peak and make few bucks, but nothing crazy
daytrading is basically a shitty full time job unless you have a HUGE base capital to operate with where even like 5% return will pay your bills for the month

>> No.27258198

>>27258057
>the only way to make money is stay on top of memes in the normie market
Yep, these was plenty of money to be made in the bullshit DOGE runup and then shorting it back on the way down. Wouldn't touch it at this point, even though it's reinflating.

>> No.27258284

take money invest in a coin and sit on it till the price increases then sell. Watch the news for any hint of possible market changes. then repeat.

Or you can get lucky and find a ponzi coin that hasn't blown up yet. Invest in it and when it blows up dump it all and move to the next.

Chances are without a high initial investment you will just be moving pennies around. Below a certain dollar amount it is not worth the time. Trying to beat the fee monster.

>> No.27258394

>>27258198
doge is great to make cash with now, because it is jumping so much you can rapid buy dips and sell peaks, but it's nowhere close to the .08 pump it got in the begining

>> No.27258462

>>27255286
Bad news bro, looks like the cancer treatments have turned you black

>> No.27258502

>>27255286
aight i'll bite
what trading "education" have you gotten? watching youtube videos of some non-trader who only wants to sell you his course dont count. buying the actuall course off those non-traders also dont count.
so where you @ with your price action knowledge?

>> No.27258557

>>27258198
whales are making money on doge right now pumping and dumping it between .27 and 32 cents. I think they may be one big pump on Monday before it crashes to below a penny

>> No.27258752

>>27255286
Maybe this will help studies have shown that 95% of the new traders lose in their first 1-2 years.
Enjoy

>> No.27258833

>>27258284
What is that certain dollar amount?

>> No.27258958

>>27255286
jesus thats a big screen

>> No.27258996

>>27255286
Stop daytrading. Stop staring at 5 minute charts. Stop accumulating massive trading fees bc you are buying selling 20x a day.
Swing trade medium time frames instead.

>> No.27259141

>>27258833
$10k is a good start, if you make 2% gains that is $200 and 2% gains aren't that hard to achieve

>> No.27259367

>>27257199
Checked.

Unironically just listen to this guy. Swingies get the rope.

>> No.27259371

>>27259141
Ok, thanks

>> No.27259430

>>27255286
>daytrading
ngmi
buy good projects (there aren’t many) at good prices
https://m.youtube.com/watch?v=K9JcFAadCVo

>> No.27259536

Before trading, answer me this question: Can you predict if the price of a coin is going up or down? If yes, how?

>> No.27259607

>>27255286
>Is it even possible for a retard to make money this way?

If you have retard luck.

>> No.27259652

Would you faggots just recommend an app that allows you to day trade without funds settling.

>> No.27259714

>>27255286
>I act entirely based on my emotions why am I not making money!!!111
It is truly a mystery Anon.

>> No.27259855

>>27257387
false
>Graham's average investment performance was ~20% annualized return over 1936 to 1956. The overall market performance for the same time period was 12.2% annually on average.

>> No.27260017

>>27259367
>Swingies get the rope.
shut the fuck up faggot bet you are one of the cucks who bought btc at 20k and "hodled!" while it dropped to 3k.

>> No.27260268

>>27259607
i have the worst luck in the world. i also made 4x my modest initial investment into doge a few days ago as a complete and utter newfag from /pol/ using RH, with verifications still pending everywhere else.

I'd call it having an ability to read fast, self-control, and the spare time to check the stock often.

>> No.27260425

>>27255286
step 1
stop sleeping
it hurts your gains

>> No.27260736

>>27255286
It's easy. If you're a retard, then you'll always be wrong. Just do the opposite of what your instincts tell you to do.

>> No.27260772

is bittrex ok?

>> No.27261280

>crypto
>day trading
kek, ngmi. You are literally missing the GRT train right this second. It's gonna be a comfy ride for a couple of years with plenty of bants with other patrician passengers and a sweet dining car. Get on board, and get comfy. You'll thank me in 2022, 2023, and 2024 when you're a millionaire.

>> No.27261697
File: 609 KB, 939x480, 1610662550049.png [View same] [iqdb] [saucenao] [google]
27261697

>>27260268
Can you reliably? Mind that recovering from a loss is very hard because not only do you have to recover from the downswing, but you have to go up from the bottom to stabilize AND you need an increase to recoup to the initial level.

It's not like you have to risk much to test your ability. Put 10 bux in wherever you want and play around, see where it gets you. If you're successful, do it again, but again with 10 bux. Maybe a third time, a fourth time. You might think it's a waste of time but if things go south you'll be happy you didn't put in 10k.

Also never listen to anyone telling you to go invest in whatever shitcoin they're shilling to you. Chances are it's in a p+d at the very moment.

>> No.27261904

>>27258502
None. I have a graduate degree in economics though but basically 0 knowledge on finance

>> No.27262401

>>27255286
think about it like this. After you buy some coin, it's either going up temporarily or it's going down temporarily. Pick a coin that's crabbing and try to buy it at the bottom, then short the top. Just don't sell at a loss. Obviously, daytrading is an awful way of making money. It's better to just wage at mcdonalds and live in your ma's house, use those profits to put into long term crypto investments then wait a few years.

>> No.27262463

>>27255286
don't fucking daytrade you will always lose money in the long term. Just go 50/30/20 on BTC, ETH AND LINK and don't touch it.

>> No.27262541

>>27256872
Anyone who believes this is a gambler and won't make it in a bear market.

>> No.27263017

>>27261904
Impressive. tho it makes me wonder why you're even trying the speculation meme in the first place.
"buying dips" and other kind of soundbite advice you get trown around will not make you any money

if you're interested in the technical approach read edwards and magee. everything down to todays "trading seminar" scams and quant fund algorithms derives from the price action first described in length in their book

>> No.27263351

>>27255286
day trader simply get swept by whales, need to trade on long time frames, get a diversified portfolio of projects that havent pumped yet with hype potential and just wait, I 2x satoshis that way and I never had any big negative swings to deal with.

>> No.27263561

>>27255286
>How do I not fail at day trading crypto?
by not doing it

>> No.27263827

>>27263017
Probably because I have addiction issues honestly

>> No.27265768

Are trading bots the real deal?

>> No.27267487

>>27265768
well you eliminate human lag and take out your feelings out of it. I'd be more worried about what parameters to set so you don't lose 10% over and over again.

>> No.27267494

Buy DODO. Silently mooning.....
Screenshot this and thank me later.

>> No.27268090
File: 30 KB, 1024x768, loss aversion.jpg [View same] [iqdb] [saucenao] [google]
27268090

>>27255286
>Is it even possible for a retard to make money this way?
Once or twice, sure, mostly, no
>coinbase too
Stop doing this
>How do I do this?
You don't
>Hold?
Yes
>When I see a dip I'm worried it's gonna crash.
Then don't look at it
>Is there a good strategy for at least not LOSING all my money?
Holding
>I know people day trade crypto (and stocks) successfully
Not true, day trading is a net loss activity. Trading educator ecelebs aren't making their living on it. They're making their living on introducing broker contracts.
The perception you need to change is your observation of losses and the behavior you need to change is your obsession with noisy action.
Try this for me OP. I guarantee you will make more money. Try to guess what's going to happen three months from now, position yourself to gain from it, and just leave it. Go live your life and fuck bitches and play vidya or whatever. DO NOT look at your portfolio. Then after those three months are up come back to it and watch how you magically do better.
That guy in your pic? Those guys on hollywood trading floors? IRL they're market makers and not making shit on capital appreciation. Brokers and exchanges would like you to think that's how big shots make money but it's not. It's how they get you to provide liquidity, get raped in fees, and make no money.

>> No.27268511

>>27261904
bitch nigga you mean to tell me you went and got the MA but never read thaler?

>> No.27268594

>>27255286
By not doing it.

>> No.27268908

>>27268090
quality post. so what're you're top 3 longs for the next three months?

>> No.27268997

>>27257199
Yep, you can make it with shitcoins but it probably will never happen, if you don't have much money, just hold whatever you have for at least a year, only think about get rich quick shit when you have the money to waste on those coins.

>> No.27269017
File: 225 KB, 627x548, kindpng_1208698.png [View same] [iqdb] [saucenao] [google]
27269017

Just buy low and sell high. It's really simple.

>> No.27269041

>>27255286
Daytrading crypto is a recipe for disaster. Much better to just buy when there isn't much attention on crypto or something is near recent floor, and then be able to hold up to several months until a pump comes along. Rinse and repeat.

>> No.27269171

>>27255286
You need to hold longer and shill harder

>> No.27269254

>>27255286
Watch this series by Crypto Cred

https://youtube.com/playlist?list=PLvkpxFSTppmnQ7A5DP386zEKU0Tv_fatm

>> No.27269400

>>27257277
Dubs of truth, also kucoin if you're american and can't access binance.

>> No.27269932

>>27268908
I'm in btc and uniswap and nothing else because I think stocks are a bubble right now. But I had a 20+-5 position l/s portfolio in them until lately.
I don't know about cryptos, I started in btc in '17 and a some alts in the ICOs expansion but mostly just sniped the order books to get more btc. Eventually sold out of this market and went back to stocks. Feel like I've slept on the ERC-20 end of things and am pretty impressed by some projects here now, but I'm not a good person to ask about alts
For a third, I was pretty deep in boomer XOM, cut it early for external reasons, there is still plenty of room I think although it's out of the ideal buy zone now. They pay a pretty hefty div and it's trading around 20 year lows.

>> No.27270066

>>27269400
>american
what? burgers can't use binance? why?

>> No.27270076

When it comes to shitcoins, do the opposite of whatever /biz/ is doing. For actual decent coins (such as ethereum), buy and hold.

>> No.27270455

>>27257354
what did you buy

>> No.27270856

>>27255286
do the opposite of what you are doing

>> No.27271720

>>27255286
You wana be a day trader here's how. Put 100k into a pot and start learning, day trade 1% of that every day, after 100 days expect to have 0$. You've past the first test, now do it again for 2 more years, 60 hours per week. At year 3 you might be one of the 1% that actaully figures out how to make it.

>> No.27272840
File: 94 KB, 1338x716, Xxbng.jpg [View same] [iqdb] [saucenao] [google]
27272840

>>27271720

>> No.27273547

>>27255286
Buy high sell low

>> No.27273679

>>27255286
dont day trade shit just hold shit thats good retard

>bought fantom
>was -50%
>held for a few months
>was up 500% now up 300%
>bought gamestop
>tried swinging at +77% and lost a bunch of shares
>now im up 400% on it
>held a couple safe stocks and up a couple hundred bucks

made a couple thousand in a few months just starting

>> No.27273893

You shouldn’t day trade unless you have >500k or are comfortable using margin to leverage up 5x. The profit margins are too thin.

>> No.27274304

Literally just buy every week and forget. Not hard

>> No.27274413

Read "Trading for a Living"
Learn chart pattern recognition
Use help from Trading Algorithms
Use risk management (2:1)
Aim for at least a 50% win ratio
Never risk more than 2% on a single trade

I've done all of the above and still managed to lose money lol