/biz/ - Business & Finance

[Anonymous No.6762549]

Hello, I'm a futures trader in Chicago. I've done like 2-3 AMA's here before. Feel free to ask me anything.

I work 99% of the time with crude oil.

>Screenshot from someone else in the last AMA

[Anonymous No.6762608]

Should i expect another huge dip by the time the next BTC futures expiration date gets near?

[Anonymous No.6762626]

>>6762549
Not really about crypto. Going to college for biz management and working. How do I ensure I get a stable career? Have a reasonable saving account and crypto money. How do I make it senpai?

[Anonymous No.6762630]

do you every keep stop-loss when trading crude?
do you use Volume Profile? how about the price-ladder?
does crude like round numbers and multiples of 5?
do you trade the Wed inventory report?

any other tips for trading crude?

[Anonymous No.6762646]

>>6762549
I am mostly in drawing channels and relying on the ups and down of stoch and rsi. Beyond guessing or drawing resistance lines, i dont know anything beyond that level of TA. Any other models you can suggest, or share the ones you use when trading crude oil however the fuck you can do that.

[Anonymous No.6762798]

>>6762549

Which variety of pavement ape do you find more agreeable? Homo erectus newyorkia, homo erectus angelino, or homo erectus chicagi?

[Anonymous No.6762833]

>>6762549
Do u trade at a prop firm? Are you backed or trade your own account? How nigger tier is chiraq?

[Anonymous No.6762846]

>>6762630
also, how would you interpret this? it is of low volume market. is someone dumping their shit or accumulating?

[Anonymous No.6762863]

>>6762549
what are your current thoughts on crude right now? topping around here?

[Anonymous No.6762889]

>>6762549
What books should I read?

[Anonymous No.6762925]

>>6762549
What is it like in the futures? Do white people still exist, or did the jews win?

[Anonymous No.6762950]

>>6762549
Hello again. Two questions: I’m short NG until february.
>Do you know NG swing traders at your firm?
>Are they short?

[Anonymous No.6763037]

>>6762925
>What is it like in the futures?
Not like Satoshi wanted <frowny face emoji>
((jews win))

[Anonymous No.6763060]

>>6762549
what sort of tax - us fed & avg state are we looking at when we cash out our chinese exchange crypto? i'm figuring around 40%. sound about right?

[Anonymous No.6763106]

>>6762608

You mean Feb 17th? Maybe. Looks like it was getting wrecked just before the buying of new contracts ended for this month. You should know that bitcoin futures aren't actually trading bitcoin so while they have some affect on the spot price on normal exchanges because of things like hedging, the futures should follow the price that trades 24/7.

In general there is some profit taking at the end of contract cycles, so it's typical to see some retrace. Sometimes monthly rollover starts a trend reversal if things are pretty stretched out in any direction, but I don't think anyone could ever say bitcoin can be thought of in terms of RSI.

>>6762626

I have a deep seated hatred for Business management majors as every one of them I've met is incompetent and genuinely believes that telling people to do shit is them being productive. Go into accounting and work at one of the big 4.

>>6762630

I haven't kept every stop loss, but I can tell you that when I haven't it hasn't been good. I have a risk manager though who get's on our ass if we do anything stupid though. 90% of the time that I ignore a stop loss it's to get out early, but that's something I've had to work on.

I really just use

vol
9/50/200ma
resistance/support lines

I have legitimate price targets though because we're institutional investors, so that's a little different. I don't use MACD RSI.

I always trade EIA/API

Crude does like measured moves, whole numbers and 5 dollar ranges. lots of .86 resistance/supports because people love to get fill liquidity on stop runs.

Crude is very hard to trade because there is a lot of "insider" trading if you want to call it that. Price will start tanking one day because a rotterdam refinery goes down for a month and it will make sense the next day in the news, but it's sort of too late then.

>>6762646

RSI makes you bet against trends, so I don't like it. I draw channels as well, if something breaks out of one channel you can measure it and stack it ontop

[Anonymous No.6763119]

>>6762549

How did you get into futures trading? Do you like your job?

[Anonymous No.6763179]

>>6762846
Dude, I sent someone the same screenshot asking the same thing. In this instance, I think there are big players that are trying to keep it looking good for TA'ers or for volume, to keep it attractive for others to enter. But that is a guess. Let me know know if you get an answer from anyone. Did you see the market sell today? I'm thinking it had to be a fat finger, almost cleared out the entire buy book.

I think it's going to do well in the near future, but the thing is a bitch to hold/day trade.

[Anonymous No.6763196]

>>6762549
W Jackson blvd?

[Anonymous No.6763218]

>>6762549
please look at this one, thanks
>6762846

[Anonymous No.6763245]

>>6762549
With the US Government shutdown, what's your price for some USD pairings over next week? Will the USD/GPB (e.g) go to 1.36?

[Anonymous No.6763264]

>>6762846
that was an organized pump and dump.>>6763179

[Anonymous No.6763291]

>>6762549
I'm an engineer (oil kind) in Canada. I got kekd by the oil crash and my government is trying to kill the oil industry all the time. Is there any future for me?

[Anonymous No.6763322]

>>6762549
Shoutout from North side OP. Where'd you graduate from?

[Anonymous No.6763324]

>>6763264
But it wasn't. I was watching it and trading it. There would be a huge market order at the start of each candle. There was no "pump", just a huge blast then back to normal price.

In addition, they put up huge buy walls to keep it at that price. They were buying 5% higher than the next price, with huge buy orders. I've seen pump and dumps. This wasn't one. Maybe a test run? Possible. But not this time.

[Anonymous No.6763327]

>>6763179
haha, yeah, i saw that 50k order being eaten up earlier today as well. i think i will hold it until eom as planned.

>>6763264
that's what i am thinking as well. the asset is kinda shit, but there is always an outside chance that it can blow up big.

[Anonymous No.6763370]

>>6763264
That is, it was one buy each time that blew those candles up, then it would settle back at normal price, where they would put huge buy orders. Which is why I'm so curious as to what it was.

[Anonymous No.6763374]

>>6763324
hmmm very interesting... wondering what it could be

[Anonymous No.6763384]

with the CME futures settling on 26 Jan are you expecting BTC to continue its rise or crash similarly to settlement of CBOE futures?

[Anonymous No.6763411]

>>6762549
Have you ever paid to cum inside a young Cantonese ladyboi you larping faggot?

[Anonymous No.6763427]

>>6763324
could be a bot fucking up

[Anonymous No.6763438]

>>6763327
Dude, I do the 50k buy walls. I just did one like an hour ago or so (at 2575). I sell high then buy back lower. I've done over 100k buy walls on that thing. On your screenshot though, they were putting in orders for 250k. It would get eaten, then they'd put up another 250k buy.

[Anonymous No.6763474]

>>6763427
Possible. Today someone sold down to near 0 and cleared out 99% of the order book. Then it went right back to normal. Had to be a fat finger or bad bot.

[Anonymous No.6763539]

>>6762646

The most productive ideas I get are sunday nights when I'm bored and feel interested enough to try and chart out some patterns and see what fits. People have many weird wave patterns, elliot wave, whatever you want. It's good to learn them over time as price targets on these will often overlap- when you find many that overlap target wise good chance many people will trade to there.

>>6762798
>>6762833

Chicago is pretty nice if you don't live in the ghetto. I never have problems, but sometimes people steal things on trains and sometimes I see drunk black girls fighting outside of bars.

I do trade at a prop firm, not with my money. I had to be trained and it took a long time. More senior people get to use much more funds.

>>6762846

Smart people take profit if things move too quickly in a direction. Maybe the asset is getting bought up at times, but since it looks like a penny stock it is probably just noise. Maybe someone spread a false rumor?

>>6762863

Depends on if domestic production goes up and if inventories keep drawing.

>>6762889

I'm reading Walter Isaacson's biography of Da Vinci right now, it's really good.

>>6762925

Jews are mostly white?

>>6762950
I thought I heard one guy say he was long, but that was a few weeks ago and he was trying to convince somebody that it was a good idea to not follow his stop. Sorry, that's not terribly useful.

>>6763060

If you hold something for a year it's taxed as long term cap gain, shorter than a year it's basically taxed as income. Futures are taxed 60% at long term no matter what, so sucks to be a pleb I guess.

[Anonymous No.6763556]

>>6763474
Saw that. There's been a lot of similar orders across the board on binance in the last couple days. I had a FUN sell set for 1060ish, price was in the 900s and I got filled on one market buy. That was hundreds of thousands worth of RCN the guy dumped, would be some serious 4D chess to do that deliberately.

[Anonymous No.6763594]

>>6763474
this is what is kinda freaking me out

[Anonymous No.6763647]

>>6762549
What percentage of your finance buddies/coworkers are into crypto? What are the common strategies for those who are?

Curious if they throw a lot of money into shitcoins.

[Anonymous No.6763664]

>>6763539
Does crypto have a future or is it fucked? I'm guessing you probably dabble in it but do any of your coworkers or do they not really understand it?

[Anonymous No.6763899]

>>6763594
I think that was a fat finger, otherwise it makes no sense. And it only happened on Binance, not Bittrex. I think those 3 candles are a good sign, someone picked up a ton. Its getting steadier, and it has good news ahead. It hasn't even had any "big runs" yet, and its an easy coin to pump in the future, due to Eth devs on the team, Tim Draper and others on the financial end, and the "loans for the under serviced!" is a good meme for a coin.

The coin may crash and burn eventually, but I think its going to pump a lot first, and in the not so distant future. We'll see I guess.

[Anonymous No.6763947]

>>6763539
>Jews are mostly white?
They are? Then Hitler did nothing wrong?

[Anonymous No.6764171]

>>6763119

My parents knew some people and I talked to them, got an internship, then job that's basically as far as white privilege goes. I like it a lot, I don't want to do it forever though because I can't settle down eventually with a family on a variable income.

>>6763245

I don't trade forex, but I am interested in the value of the dollar, obviously since dollar value is inverse to crude price.

I have a hypothesis that the dollar has bottomed fundamentally, as there are some companies that need USD to build new infrastructure here as well as many countries investing in our market right now, needing USD.

On the other hand, I tried to talk to this Brittish forex guy I know and we both agree the dollar is nowhere near the bottom in terms of technical analysis- just broke major support even. He's European though and everyone over there where most forex is has this crazy bias against the US because of things they hear trump say, so they short. I hope they are wrong :/

>>6763291

Oil is rebalancing rather quickly, on the premise that Venezuela doesn't get it's shit together and the US doesn't flood markets again. Why don't you come move to the US? Canada is not a tar sands forward country politically and I doubt they will help that industry.

>>6763322

I graduated from University of Michigan-Ann arbor in econ. I guess you went to Champaigne? Everyone I know went there.

>>6763324

Define "huge" market order? That's not generally what I would consider a pump and dump as a pump and dump implies a reversal to the downside from the baseline.

>>6763384

I have been reading about tether and I must not understand it completely because it seems like a glaringly obvious red flag that bitcoin will keep losing value.

>>6763411

I paid a prostitute in Amsterdam once, but I couldn't do it. Something about a 10/10 bulgarian chick yelling at you to get a boner while you're high is a buzzkill. She tried to speak to me in Spanish too because she knows Bulgaria is trash

[Anonymous No.6764302]

>>6763647

0%. Nobody cares.

>>6763664

I don't dabble in it, but I'm fascinated by reading about the things that are going on with the exchanges, tether, etc right now. I haven't experienced a recession in my trading history before, so I'm trying to observe what I think one that is building right now looks like. I could be wrong. I don't think bitcoin will disappear, but didn't you guys get a stimulus of like 2 billion just to keep the last crash up... barely?

[Anonymous No.6764455]

>>6763539
>taxed

thanks dude. gives me an idea what to expect.

[Anonymous No.6764456]

>>6763899

Can one of you tell me what asset it is that you're asking about?

[Anonymous No.6764574]

>>6764302
Why haven't you bought Ark yet?

[Anonymous No.6764594]

>>6762889
Mate, not OP but read "Confessions of an Economic Hitman", it's great

[Anonymous No.6764635]

>>6764456
RCN, ripio credit network.

[Anonymous No.6764651]

>>6764594

Yeah can confirm. My ex's uncle is a diplomat for the world bank in South Africa and I would talk to him about how much money they make off those loans and I made a guess and he laughed and said they hoped for at least 13% a year.

[Anonymous No.6764758]

>>6762549

I got two questions for you.

If you know the Europeans will tank this mid this year to early 2019, how will you take advantage of this?

Also, if you know gold will make a huge bull run at the end of March onwards, how will you take advantage of this? What instruments will you use to take full advantage of these events?

[Anonymous No.6764805]

>>6764171
>having parents and friends is white privilege
Just lol at niggers and blue haired whores with daddy issues and no friends outside of low IQ freak shows like themselves. It’s sad that people unironically view something as standard as the nuclear family as privilege and use this to handicap others

[Anonymous No.6764834]

>>6762846
>>6763179
>>6763218
>>6763370
>>6763374
>>6763427
>>6764635


I actually laughed out loud when I went to this chart

It looks like you guys are trading on a 1 minute chart, which is something you should never do.

Second of all, if you zoom out to a daily or four hourly it's just trading sideways with some noise.

How is it that you guys are talking about a pump and dump on the one minute with this first daily candle looking so fucked up? The ICO was the dump.

[Anonymous No.6765003]

>>6764171
>Something about a 10/10 bulgarian chick yelling

Were you upset because her cock was bigger than yours? Were you afraid to bottom for her?

[Anonymous No.6765090]

>>6764834
as >>6764635 pointed out, it was actually only on Binance. I never daytrade much less look at the 1 minute time-period. it's 30 min, 4 hours, daily and weekly, monthly (if available) for me always.

[Anonymous No.6765100]

>>6764758

If you know?

Short DAX at this monthly double top with a reasonable stop or CAC 40 or whatever.

If you think gold will break up then buy the gold future. If you don't have access to these things as I assume you're probably using your own little bit of money there is probably an index that tracks gold price. I know there's a few for WTI.

>>6764805

I agree. People don't understand that social skill is almost as important as intellectual dexterity when it comes to maintaining generations of successful individuals.

People in California especially, but in the liberal sphere are glorifying semi-autism. I swear people would more readily believe someone figured out AI if they were autistic instead of just a genius, or better yet a normal intellect hard working person.

I hope Silicon valley has a whole generation of mentally/emotionally inept children that attempt to live off their parents wealth, but eventually implode.

[Anonymous No.6765173]

Aight, I'm out. Just realized I was drunk enough to start ranting about retarded silicon valley spawn.

[Anonymous No.6765230]

>>6762549
price of oil next year? do you own any actual gold or silver?

[Anonymous No.6765242]

>>6765173
thanks for your insights

[Anonymous No.6765244]

>>6764834
dude, its the one hour chart. Where are you getting one minute? Like I said, there would be a huge blast market order, then it would settle in. So what is your take now?

[Anonymous No.6765378]

>>6762549
What do you think is going to happen with Tether?