Is there actually a way to make a steady income from crypto or stock trading?

[Anonymous No.51359352]

I am an extreme newfag when it comes to stock and trades, but I desperately need some extra side income aside from my full-time and I'm willing to dedicate a few months of learning about the market. Even if I can earn a measly 50-100 a month from daytrading or something similar, I am willing to learn. What I'm asking is if this is possible in general? I always see anons saying that they make a living via the stock market or crypto, I know it requires much skill and seniority in knowledge and that I cannot just plunge into it as an amateur. But I would love any types of suggestions so I can start researching, maybe you guys know more than the average redditor/normand. I would deeply appreciate any suggestions

[Anonymous No.51359432]

Bump

[Anonymous No.51359535]

>>51359352
we can teach you how to lose money

[Anonymous No.51360283]

>>51359352
Well anon your 50--100 or more depends on what size you willing to trade with, usually best case is aiming for few % gains if day trading & 10-20% if swings of HTF

if you reply fast i can answer more

[Anonymous No.51360299]

>>51359352
Ah,what the hell. You seem like a rare non-retarded newfag. So I will throw in here.
Without knowing how much you have to invest, I can say that $50-100 a month is easy.
My suggestions are these:
>look at swinging trading (not day trading); and while the bear market continues, focus on stocks and not crypto.
>download the TradingView app and start learning how to use it. You should get a subscription that fits your needs. Have to spend money to make money.
>learn some of the different indicators. For noobs, Supertrend by Kivan (the one with 33k users). It's a godsend and I've found it works best on the YTD chart (with 1 day candles).
>I personally also use different moving average (MA) lines, RSI, Stochastic, MACD, and Fibonacci. There are plenty of YouTube videos to teach you different strategies.
>pick a strategy. There is no end of YouTube videos that teach a variety. I can't say for sure which are better than others, but it has to be a strategy you understand and will follow CONSISTENTLY. Test things out and find what works.
>research as much as you can. Study charts for different assets, save them, and don't buy until your strategy can be perfectly applied at the perfect time. Patience is rewarded.
That's all I can think of at the moment.

[Anonymous No.51360386]

>>51360299
Oh, yeah. Couple of other things.
>only use 1% of your investment money on any one trade, at least until you're winning more trades than you're losing.
>be disciplined enough to sell at least part of your assets when you have met your profit target that you should have figured out BEFORE starting the trade.
>same goes for losses. If a trade is losing money and the chart doesn't give a roadmap to profit, sell. Even if it's just a 1% loss or whatever. Don't hodl to the bottom like an asshole, waiting for a turnaround because there is always a better trade to find.
>do paper trades before you spend real money
It's actually not that hard to know how to trade. What fucks people up (besides totally refusing to use TA) is greed and not following their own rules more than anything else.

[Anonymous No.51360697]

>>51360283
So swing trading > day trading is what I’m understanding. I’m going to read a bunch of materials and books on the market but I didn’t actually know people made money consistently from doing this. I guess it takes balls for a significant initial investment.
>>51360299
>>51360386
What I’m understanding is that swing trading requires strict rules and personal discipline, along with understanding and spotting indicators. I will look into TradingView as soon as possible. Thank you for this really valuable information. Glad I asked this board before anyone else.

[Anonymous No.51360778]

>>51360697
>I guess it takes balls for a significant initial investment.
It doesn't honestly. I entered 14 trades on Wednesday. Of those, 13 have been profitable so far, 1 went bad and I had to sell.
1 stock returned 20% profit in two days, 1 stock was 15% profit, 1 was 7%, and 1 was 5%.. I sold those off when they hit heavy resistance. I follow an 80/20 rule for profits and losses when I think the price might go up, so the one that did 20%, I sold off 80% and am waiting to see what it does next. The 1 that did 15%, I sold 20% off, then watched. When my profit dropped to 10%, I sold the rest and watching for a re-entry opportunity.
The other stocks are all in the green and I'm watching them.
The 1 I lost was a 6% loss. I screwed up. Happens.
But think about it. If you're profiting in most of your trades by 10%, 15%, etc and only accepting losses of 1%, 5%, etc, then how hard is it to make money, really?
You can be wrong a lot and still not go broke. And one good trade can make up for a few bad ones.
If you have good rules and the virtues you mentioned, you profit. Just don't be an idiot.

[Anonymous No.51360789]

>>51360778
>The 1 that did 15%, I sold 20% off, then watched.
Correction: I sold 80% of it and then sold the remaining 20% when the profit dropped from 15% to 10%.

[Anonymous No.51360864]

There is a lot of momentum and great fundamentals in the Mondo Megabit space. It’s a ground floor opportunity to be part of the Mount RushMondo 1st Mint Alpha Elites.

[Anonymous No.51361072]

>>51359352
I make an extra 50k or so a year flipping stocks but its inconsistent and theres no way i can do this shit and only this shit without worrying about keeping a roof over my head longterm. Even now i havent actually made any trades since mid april and am realistically not going to make any moves until october. Its hard to plan around sporadically having no income for 5 months at a time when the market suddenly isnt favourable to your strategies, and when that happens your only choices are to either lose money or sit in cash until things are lined up for you again. One thing i really do abide by is taking night shift wagie jobs and trading during the day, it provides you with the security of knowing money is coming in regardless and still affords you the time to watch/trade full market sessions. Also it feels badass to leave your wagie job knowing you just made a weeks wage in your downtime. Also, dont ever put yourself in a position where you feel like you NEED to trade in order to make ends meet. if the trade isnt there it isnt there and youll only hurt yourself trying to force it.

[Anonymous No.51361144]

>>51360778
Your limits seem wide, do you generally wait for 10%+ moves before deciding if youre going to take profit or cut? Personally ill take profits at 3% and cut at -2%, but ill use 15% to 25% of my portfolio per trade so that 1% differential ends up being all I need to stay consistent. waiting for big moves gives me too much anxiety, ive always felt more comfortable taking small gains wherever i can. Kind of wish i had bigger risk tolerance tbdesu.

[Anonymous No.51361273]

https://tradingriot.com/blog/

[Anonymous No.51361342]

>>51361144
I usually find opportunities by looking at the daily movers. So the gainers have generally already pumped and broken some key resistance level. For those, I look for a pullback and then an entry point. For the losers, they're an opportunity to slurp.
The 20% was one of the latter. Was Azure Power (AZRE). I saw that it had dumped a few days before after a bad earnings report.
It had good buy signals on the 4H candles and the trend lines showed it had likely bottomed, so I went in on the 7th.
This morning, I saw that I was up 20% and starting to hit resistance on the 1H candles and was moving into oversold territory on the RSI, so I sold 80% of it at $5.83.
It's holding up pretty well, so I'm waiting for the buy signals on the 1D candles and then I will go back in.
That's normally how I do it. I keep low risk and take what I can get. There's one other I have now that seems shaky and I may have to sell at 1% profit on Monday.
I'm a wagie and a poorfag, so I usually don't throw in more than 1% of my poorfolio on any one trade. But I run as many trades at once as I can.
Like OP, I just want extra money. No way do I become a millionaire anytime soon, ha.
The tldr; is that I sell when I see a cluster of indicators showing that a reversal is coming. If I'm up 2%, that's great. 10% is ideal, and anything more is a blowout.

[Anonymous No.51361388]

>>51359352
Literally just invest. Preferably in stable stocks with dividends. You're probably tempted to think that the more time you spend making trades, the larger your profits will be, but the exact opposite is true for the vast majority of traders. Some things to keep in mind:
>short-term trading is a zero-sum game
>technical analysis is not statistically profitable in a vacuum
>do not touch options until you fully understand the Greeks
>it's exceedingly unlikely that you will beat the market
>somebody is always looking to take your money

[Anonymous No.51361451]

>>51361388
This. If you want to profit off crypto, pick a few big coins including BTC and some promising smaller projects and DCA during the bear market (and of course stake whatever you can).

[Anonymous No.51361851]

>>51359352
( as a neet I dont live from my portfolio but they do pay some of my bills)

what you have to learn is the difference between income and investing

dividends give you income. Investing make your netwallet richer

Stable long term dividend stocks is what gives income
You buy and hold forever & just keep re-investing the dividends

I know many that make a living that way but it takes time, years, building a portfolio you can live off of

Don't risk your future daytrading left & right when sooner or later you'll make a badtrade that will sell you out

If u need money right now you should look into monthly payers. stable Reits, like RIOCAN, Realtyincome,

Reits are nice but not all monthly payers are stable like quarterly paying ones

Only youtubechannel I like is GenExDividendInvestor . if ur interesting in researching n learning more, he's a nice guy i learnt a lot from him.

he & his family completely live off his portfolio

>>51361388
this

[Anonymous No.51361932]

>>51360386
>>same goes for losses. If a trade is losing money and the chart doesn't give a roadmap to profit, sell.
Don't listen to this Jew.

[Anonymous No.51363311]

>>51359352
How much capital do you have?

[Anonymous No.51363345]

Best bet is DCA. DCA into ETH, MATIC and other networks/projects that are ACTUALLY DOING SOMETHING. Research is your best friend.

>verification not required

Facts

[Anonymous No.51364640]

>>51361072
Solid advice anon, have a job and trade on the side with money you're willing to lose and not freak out over, also never leverage money I bought 10k worth of shares once and they dropped I sold them quick but I had to settle 4k debt, if it was more I would be fucked

Only trade with the money you have, I do 2-3k now and if the market goes to 0 (it never will) I'm financially ok still

[Anonymous No.51365732]

DCA is the safest bet. By putting in the same amount of money into something at it goes up and down, over time your entry point inevitably becomes lower than the current value of the stock IF it is the case that the stock trends upwards more than down. It is not as fun or rewarding but it is the safest.

Swing trading is also valid. This is the embodiment of buy low sell high. You use intuition and charting techniques to succeed.

With day trading, it is like swing trading but on a micro time scale. There are so many things going on with it that it's really hard to master. I've been doing it for about three years and my day trade portfolio is only 15% higher than the amount I've put in. Meanwhile, my swing trade portfolio is at 25% higher than the amount I've put in and my DCA is 20% with current market prices. Things like sympathy plays end up being your go to. If a Chinese education stock gets some % into it, playing around the other Chinese education stocks will net you some %.

I am a big believer in chart patterns. The problem with them, though, is that the geometry of them allows for one chart pattern to be another, you just didn't see it at that point. So, what they are great for is a hindsight look at the psychology of the people trading that can help you determine the current psychology.

Also, stock twits is a great place. Do the inverse of most.

[Anonymous No.51365769]

Farming. Start with DEO (demeter) and see what's available on Binance. If you think the project in question might go up, stake some. Less risky than buying the new asscoin shitscum

[Anonymous No.51365773]

>>51361851
What's with that spacing you fucking autist?

[Anonymous No.51365779]

>>51365769
Staking always generates breadcrumbs anon...

[Anonymous No.51365784]

>>51360299
>using a TV subscription instead of a DEXTools one
Do not listen to this man's advice.

[Anonymous No.51365787]

>>51365784
Based

[Anonymous No.51365803]

>not a single kneepads post
wtf?

[Anonymous No.51365813]

>>51361388
I agree that a trader should still work on stacking a long term portfolio and value stocks are excellent. If you had bought a dividend ETF like HDV a year ago, you'd certainly be better off than anyone who's been dca'ing into any cryptocurrency in that time.
I disagree that "just invest" is the best advice for everyone at all times. If you don't have a lot of capital (which I get the impression OP doesn't), then you aren't going to get very far. Trading early on can build up capital and putting those gains into safe, long term investments will preserve and grow them.
I also agree that day trading is generally unprofitable for almost everyone, particularly if they don't account for brokerage fees in their slim profit margins.
You're wrong to dismiss TA. Even with a minimal understanding of it, an investor could avoid mistakes like buying TSLA in January, thinking they were buying the dip when all of the long term signals were screaming to sell. A long term investor who bought in years before would have benefited from taking profits there.
Long term investing without understanding what the market is doing is gambling. Pouring money into assets that are losing value each month is gambler's fallacy.
It's much easier to buy and sell according to indicators that give an idea of trends for the next week or two months. Nobody knows what the market is going to be doing next year or ten years from now or which assets will be winners or losers.
Whatever your timeframe, buy what shows good trends, hold what is profitable to do so, and sell the losers.

[Anonymous No.51365823]

the truth is yes. you can get to a point where you don;t care you can turn 10k into millions in less than 2 years
however
its just as hard as being an addict and going sober. or going on an extreme diet for years. you have to cut all emotions and fear like a robot. this is the easiest part to understand but the absolute hardest to master. Other than that its just price action and trend. good luck

[Anonymous No.51365900]

>>51365823
samfag but if you're doing it right trading should be boring and not fun.
if you're hair is on fire excited and you're enjoying the thrill - you're doing it wrong that is gambling and ultimately you will lose I guarantee it

[Anonymous No.51366147]

>>51360778
Is hard when you get priced out long term, swing account is not investment account, is like gambling for high iq peeps

[Anonymous No.51366178]

>>51363345
DCA is boring and for poorfags, is good for selling tho

[Anonymous No.51366205]

>>51365900
That's not entirely true, you can have fun and make money, just don't be emotionally attached or greedy. I think greed is the worst one when it comes to trading, lot of unrealized profits because of greed, fear is a bitch too because it can price you out, but greed is worse for good traders

[Anonymous No.51366218]

>>51359352
Buy low sell high

[Anonymous No.51366271]

>>51366205
"that's not entirely true, I can just have this one drink and still be sober"
it is absolutely literally true. you're in denial imo
nothing wrong with having fun and living life. I'm just spoling the plot for you

[Anonymous No.51366304]

>>51366205
>>51366271
"a man who sees a fish in deep water is in danger of himself"

[Anonymous No.51366399]

>>51366147
All investments are a gamble. Starting a business, buying a house, staking an altcoin on a dapp, etc.
You have to figure out for yourself what's worth the risk and that's a matter of research and anyalysis.
I maintain that even if swing trading is gambling, it's still a more sensible one than blindly dumping money into long term investments even as they lose money.

[Anonymous No.51366426]

>>51366399
I think risk is a better word than gamble, but yes. This is why risk management is so important. Risk 100 for 300 = you can lose 3 times, win once and still break even.
the trick imo is to accept the risk before the trade such that if your stop hits you dont care. i wasnt successful consistently until i stopped caring as weird as that sounds

[Anonymous No.51366435]

>>51359352
>>51360697

There is no "steady income" money cheat code. if you don't have good risk tolerance or aren't willing to lose money for extended periods of time don't even bother. you can make money at it but there will be extreme swings no matter what you do

[Anonymous No.51366441]

>>51359352
i did leverage until i reached 200k, now i just stake it all and live off of autism bucks

[Anonymous No.51366453]

>>51366271

[Anonymous No.51366473]

>>51366426
Doesn't sound weird at all. You should always trade and invest according by following cold, logical rules that you have set for yourself after testing them to confirm that they will return a profit; never according to emotions.

[Anonymous No.51366507]

>>51363345
Exactly. DCA-ing into projects that is actually doing something. Allianceblock is bridging DeFi and TradFi together.

[Anonymous No.51366516]

>>51365813
Go ahead and show me a TA strategy that has a backtested expectation value greater than buy-and-hold across multiple markets. The only possible exception is SMA, which is basically just buy-and-hold adapted to long-term sentiment. TA coupled with external factors can be profitable, but in a vacuum it is worthless. Like I said, short-term trading on the scale of days or even months is a zero-sum game. For you to gain a dollar, someone else has to lose a dollar. This isn't strictly true, but for all intents and purposes it should be treated as such. This concept alone precludes the profitability of TA, because if it worked other people would just inverse the indicators and take your money until it stopped working.

[Anonymous No.51366707]

>>51366516
>if it worked other people would just inverse the indicators
This can be a factor, depending on the size of the market and the players. Which is why I'm very careful with crypto and won't invest in in long term. But trends can be very hard to break and indicators reveal these trends.
>Go ahead and show me a TA strategy that has a backtested expectation value greater than buy-and-hold across multiple markets.
I'm not saying at all that people shouldn't invest long term. Just the opposite. I think it's right to trade to build capital to productively do this.
Trading isn't any more a zero sum game than other strategies. If you own a donut store and I open one just down the street, every customer whose money I take is money I'm taking from you.
If you're losing enough customers, wouldn't you want to figure out why by researching why they might prefer my donut shop over yours? Maybe my donuts are better. Maybe I have a better location. It doesn't mean I'm manipulating the crulers market, but that you are going to need to change what you're doing instead of "keep just making donuts and ignore the facts."
Buy and hodl works great in rising markets, which we did had up until the end of last year. But it was a bubble and investors need to seriously question whether we will see those 2021 highs in some assets ever again. At best, will be years before they even break even.
How do you even choose which long term investments to make without knowing which direction the market is heading or when a good time to buy is?
If you don't know when to buy, you also don't know when to sell. Then what is the value of your investment?

[Anonymous No.51366778]

>>51359352
There is an exchange called Coinmetro which specialises in staking and passive income options. Take a look. FLUX mad THT are both worth looking into.

[Anonymous No.51366854]

>>51359352
you know it is possible, if you are a complete and total newfag who has never made a trade before the book Market Wizards (as cliche as it sounds) is a really good onboarding method for new traders who don't understand risk tolerance and what decision making in trading means

you are better off reading that or Soros than coming here

[Anonymous No.51367119]

>>51366707
What you're talking about is due diligence, not technical analysis. Yes, you need to research your investments - this is not up for debate. Buying and holding random stocks/cryptos/ETFs/whatever without doing any research is a bad idea and you will almost definitely lose money. But only looking at past price action is not research, nor does it inherently reveal anything about the future of the company.

[Anonymous No.51367130]

>>51367119
TA is part of due diligence. That anon said early TA is utterly useless and I disagree.

[Anonymous No.51367146]

>>51359352
>day trading is a meme
this
I have done 50,000 transactions this year with bots and my pnl is atleast -300% (i've re-upped multiple times)

you are playing roullette and praying that black comes up 51% of the time (because some shady TA based on 5 minutes of trade data said so)

I would still have been in a loss but I would have done better riding BTC down from 60k to 20k just holding

[Anonymous No.51367162]

>>51367130
That was me. I said it was useless IN A VACUUM. This can be quantitatively demonstrated - again, show me a TA strategy with an EV better than buy-and-hold. Other than SMA in select markets, you can't.

[Anonymous No.51367411]

>>51367162
In a long term rising market, buy and hold is the more profitable in the long term. Until the market isn't rising anymore.
At what point do you sell? I'm genuinely curious because you know that nothing goes up forever.
Whether buy and hold is or always will be a better strategy is a matter of time frame, the market, and when one chooses to buy or sell.
Once this bear market ends, we could see a lost decade like Japan. We could see another era of steady growth. We could even see a complete collapse.
You don't know and that's why I say a buy and hold strategy is in some ways a worse gamble than working off of shorter time frames.
My TA strategy has absolutely performed better on certain time frames for stocks like, say, Netflix. If you bought in early 2021 and held, you'd have broken even while I'm well into profit at this point. Should anyone keep holding Netflix because long term buy and hold always works, as you say?
For poorfags who don't have a whole lot of capital to play with, locking your cash up into assets that may or may not increase in value isn't terribly appealing. Especially now, 2022 being the way it is.
Trade to build capital. Invest capital in long term assets. There are certain circumstances where one is better than the other.

[Anonymous No.51367502]

>>51367411
>At what point do you sell? I'm genuinely curious because you know that nothing goes up forever.
this is wrong
governments will always print money so goods will always go up

this only applies to non-fiat / non-fiat pairs
non-fiat / fiat is infinite up

[Anonymous No.51367528]

>>51359352
50-100 a month is very possible, but you need to get some practice in. Take some companies you know (even better if you are a professional in the company's industry so you can have more comprehensive understanding of the products they sell and the value of their business). Start following the news and in the meantime learn how the market operates (market cycles, relations between bonds, stocks, dollar value, oil, interest rates, etc), how to read a balance sheet of a company, income statement.
If you dont know shit it will take a 3+ months at least to even get a basic understanding.

Also, dont start with money! Start with a demo account, etoro has pretty good free demo account where you can trade with fake money (although overall etoro is a shitty platform, i dont recommend it for real trading). Dont start day trading before you can turn a reliable profit on the demo account!

As a last advice, if you actually want to make money and you have time, i dont recommend day trading. Swing trading maybe, but most people fuck that shit up too, especially beginners. Steady investing into undervalues shit with 2-4 year time horizon or long term investing into index funds is the best.

gl

[Anonymous No.51367557]

>>51359352
just don't, a lot of delusional dogshit advice here
the only reason you should be in crypto is if you have a specific project in mind that you feel you know well enough to get into long term, and even then you should absolutely not day trade it or rely on it for income
this is the correct advice for 99.99% of people

[Anonymous No.51367625]

You can make massive gains from trading crypto. Just ensure you DYOR and aim for gems with utilities and potential. Talking of potential, I think there is no perfect time to add some gems to your bag than now because the market is beginning to look green and attractive. Meanwhile, I'm delighted to announce _SYS_ strategic partnership with SYSPAD_official. This will be the first native public fundraiser on the _SYS_ ecosystem.

[Anonymous No.51367664]

>>51367625
>market is beginning to look green and attractive
please dont invest your money, for your sake

[Anonymous No.51367731]

>>51367502
I'm not arguing with this. I'm focusing on what the OP says he's trying to achieve.
If OP wants to earn an extra 50-100 per month and (I'm assuming) has less than $1000 in capital, he can do that by trading. He's not going to get that now by throwing $1000 into 5 shares of VTI at this time.

[Anonymous No.51367912]

The first step to excelling in the market is what you have thought of. the next is to DYOR on some market gems to put your money in. As for me, having scanned through the market, my gem right now is _SYS_ because of its great potential and perfect scalability. In addition, _SYS_ got the best combination of BTC and ETH all together in its ecosystem making it a good buy RN.

[Anonymous No.51369529]

>>51361388
>Preferably in stable stocks with dividends
Investing in stables is the best decision one can make in this market situation. Buy and stake 'em.

[Anonymous No.51369855]

>>51369529
Where are you staking? Binance?

[Anonymous No.51370044]

>>51369855
I don't stake on any CEX at all. I stake on Spool; it's fully decentralized and the APYs are decent too.

[Anonymous No.51370368]

>>51367411
>At what point do you sell?
When you need liquidity. Crashes and bear markets are temporary as long as the petrodollar holds - at least until the final collapse, and at that point who cares. The big composite indices have been on an overall upward trend since their creation - either invest in that or pull out when your select few companies start losing steam. Your anecdotes mean nothing, for every profitable TA trader there is another that is equally in the red. This is an entirely statistical matter - if you can't accept that then you are doomed to regress to the mean. I implore you to quantitatively backtest your strategy and report back with the expectation value.

[Anonymous No.51370404]

>>51370044
This is the platform that is some sort of an aggregate of several yield protocols yeah?

[Anonymous No.51370525]

>>51366778
Based. Also Maiar dex go staking opportunities too. You can see some Elrond gems like CRT, RIDE, BHAT and ITHEUM which you can stake for decent APY.

[Anonymous No.51370697]

>>51370404
Not really an aggregate; Spool is a middleware that routes your funds to other yield protocols based on your risk model.

[Anonymous No.51370745]

Why not spend time learning a skill that will pay you more than gambling on day/swing trading does?

If you’re keen on investing. Macro/News trading is the easiest. Look into A.I or Metaverse companies and hold for a year years for a 10x in 5-8 years for each stock.

Work towards a high paying skill -> put 5k in 10 different stocks or cryptos with good development and get half a million later

[Anonymous No.51371850]

>>51359352
If you want to make a steady income in crypto then learn to be a Dev, get a Job that pays well, Invest only 10% of your earnings into Crypto then become a millionaire in less than 2 years. Qanplatform is a good blockchain to start with since it allows us Devs to code smart contracts in any programming Lang

[Anonymous No.51372208]

>>51359352
Gamble and you will make it

[Anonymous No.51372531]

>>51371850
The QVM feature is way better than EVM, this is every Devs dream
>Coding in any programming Lang