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/biz/ - Business & Finance

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Anonymous Sun Jan 21 22:41:51 2018 No.6804847 [Reply] [Original]

Daytrading is profitable if you follow these simple rules:

- don't trade emotionally (eliminates panic selling and FOMO)
- don't be greedy (sell at profit rather than hope for lambos)
- accept small but steady growth (10% is good)
- use TA to identify key evenst not to predict prices/trends
- optional: use AI/machine learning to predict prices

You're welcome.

>>	Anonymous Sun Jan 21 22:43:11 2018 No.6804884 That's exactly why daytrading is POO >- don't be greedy (sell at profit rather than hope for lambos) I sold req at 10 cents and xsh at 400 sats Fuck that, just buy and fucking hold

>>	Anonymous Sun Jan 21 22:43:49 2018 No.6804898 How much daytrading do I need to have a gf like pic related?

>>	Anonymous Sun Jan 21 22:44:26 2018 No.6804915 >>6804884 "buy and fucking hold" works during bull runs, anything beyond that is pure gambling. don't be naive.

>>	Anonymous Sun Jan 21 22:44:43 2018 No.6804923 File: 41 KB, 640x640, 25011574_1746721292013301_962149644412911616_n.jpg [View same] [iqdb] [saucenao] [google] >>6804884 Breach brotha.

>>	Anonymous Sun Jan 21 22:47:07 2018 No.6805001 >>6804898 She's pretty average, so not that much.

>>	Anonymous Sun Jan 21 22:47:17 2018 No.6805005 >>6804847 >Daytrading Is only profitable if you're in a prop shop. It's highly expensive otherwise. Swing trading is more suited for the home gamers.

>>	Anonymous Sun Jan 21 22:48:29 2018 No.6805033 >>6804915 I have to disagree there. It works as long as you pick the right coins. If you held onto your Signatum or Metal, you would be fucked by this point. But if you held onto your Monero or Litecoin from last June, you'd have 10x both by now.

>>	Anonymous Sun Jan 21 22:49:26 2018 No.6805067 File: 122 KB, 600x801, 1513401365533.jpg [View same] [iqdb] [saucenao] [google] >>6805005 Colour me surprised. A smart /biz/tard. And a burger too!

>>	Anonymous Sun Jan 21 22:51:04 2018 No.6805101 >>6804847 >usa AI/machine learning to predict prices I'm guessing you know absolutely nothing about AI/machine learning if you think that you can just "predict prices"

>>	Anonymous Sun Jan 21 22:53:15 2018 No.6805171 File: 89 KB, 528x587, a755e49c0854918aaa50468cf3fcb615--walter-sobchak-the-big-lebowski.jpg [View same] [iqdb] [saucenao] [google] >>6805101 You predict prices fuckface t. Data Scientist

Anonymous Sun Jan 21 22:53:26 2018 No.6805178

>>6805067
Let me guess, just got to your first profitable week in a while and you decided to make a thread about it? You're an idiot preaching bullshit to people who have absolutely no clue what it entails. Pretty sure you're pulling shit out of your arse as well.

Let us know when your account gets liquidated.

Anonymous Sun Jan 21 22:55:57 2018 No.6805250

>>6805171

Yea buddy I'm in data science too, and I've been doing my research. If you're looking at just market data, there is absolutely no way to get anything better than a tentative conjecture about the price direction even from the most sophisticated ML models in existence.

The market is affected by outside sources such as news of new releases or governments cucking X crypto or Y exchange or something like that.

>>	Anonymous Sun Jan 21 22:55:58 2018 No.6805251 >>6804847 Jesus Asians are so ugly...

>>	Anonymous Sun Jan 21 22:56:24 2018 No.6805267 >>6805101 No of course I know nothing, I just wrote my own machine learning app in TensorFlow. But please, tell me how I know nothing.

>>	Anonymous Sun Jan 21 22:58:44 2018 No.6805330 >>6805171 Fucking brainlet

>>	Anonymous Sun Jan 21 22:58:53 2018 No.6805337 >>6805250 Why do you assume I'm not using a news API to feed external data into my model? Fuck off.

Anonymous Sun Jan 21 23:03:19 2018 No.6805464

>>6805267

>follow online guide to set up tensorflow
>not using keras
>probably set up a basic perceptron NN to do MNIST or some shit
>probably isn't even using GPU acceleration

Your knowledge of ML is equivalent to Chad's knowledge about crypto who bought .05 BTC at $17k after hearing about it on the news

>>6805337

>thinking you can filter the hordes of random news, shills, and general bullshit going on in the news about crypto for anything even remotely resembling a buy signal

You're better off just reading the news by hand

Anonymous Sun Jan 21 23:03:50 2018 No.6805478
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>idiots pour their whole life savings in fake currency
>prays for the best
>probably doesn't know you can make money when price is going up or going down

You people will never make it...

>>	Anonymous Sun Jan 21 23:05:01 2018 No.6805525 >>6805337 You’d be getting a lot of useless garbage

>>	Anonymous Sun Jan 21 23:06:43 2018 No.6805578 >>6805478 How do you make money when price is going down lol?

Anonymous Sun Jan 21 23:06:55 2018 No.6805588
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>>6805178
Wow such hostility. I've been here since /g/. Started my finance career in FX discovered crypto in 2011. Evolved with a financial engineering degree. Don't get why your mad though. Crypto is easy mode. I've made more money shorting and futures arbitrage than buying and holding could ever make me. This hodl meme doesn't work outside crypto.
>>6805250
It works. But everyone does sentimental analysis arbitrage. Too much competition. Look at McAfees recent tweets for instance. Everyone with a fucking udemy degree could write the bot. Also don't try analysis of the time series. There are big funds and teams, better than you in this case. Learn market microstructure, trade execution theory and volatility analysis and get into HFT on a small exchange. First day I tried this, backtests worked amazingly. I thought there was bias somewhere. Paper trading flawless. Live trading, I didnt sleep two days straight! Just stared at my console while a once class r script printed money. Couldn't believe my eyes.

>>	Anonymous Sun Jan 21 23:07:45 2018 No.6805615 >>6805464 all of these assumptions you made about me actually made me laugh you trade like that too? no wonder you're so salty

>>	Anonymous Sun Jan 21 23:08:30 2018 No.6805637 >>6805464 I do read the news by hand. Ven at 40 cents Antshares at 2 dollars Eth at 50 Xlm at 20 cents Xrp at 50 cents Not hard if youre not dumb. Just have a method and a notebook.

>>	Anonymous Sun Jan 21 23:10:01 2018 No.6805679 Buy XLM. Mooning soon, sirs. Thank me later

Anonymous Sun Jan 21 23:11:33 2018 No.6805731
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>>6805330
Brainlet? Let me post a picture of my car since you kids seem to respect this. Also I own a small exchange serving my country. Imagine the fees.
>>6805464
Why are you so hostile. Take a break. We also don't win most of the time. You just have to win more than you lose anon. Sorry for typing to slow. Being tired.

Anonymous Sun Jan 21 23:14:20 2018 No.6805808

>>6805588

Thank you for the actual advice, I really appreciate it. Time series forecasting has been proving to be really, really difficult, and you're probably right that there are much more knowledgeable teams doing it already.

I've been turned off of HFT because my friends have said you need to know stochastic calculus and other graduate-level math. Will look into your suggestions.

Anonymous Sun Jan 21 23:20:18 2018 No.6805990

>>6805808
HFT is very beginner friendly. You can do all the dirty tricks banned in big boy exchanges in traditional finance.
Trading and Exchanges: Market Microstructure for Practitioners- Larry Harris. Read it after you wake up and before you sleep. This is your bible. Master the order matching engine. After doing so, you will start seeing the order book with a new set of eyes.

>>	Anonymous Sun Jan 21 23:43:02 2018 No.6806681 File: 921 KB, 342x239, 1515729348676.gif [View same] [iqdb] [saucenao] [google] >>6805578 I rest my case...

>>	Anonymous Sun Jan 21 23:44:47 2018 No.6806732 >>6805005 >Swing trading is more suited for the home gamers Please teach me or just point me in the right direction senpai

>>	Anonymous Sun Jan 21 23:49:53 2018 No.6806871 >>6805990 Just downloaded a PDF of it. Looking forward to being able to improve my ability to write scripts to analyze the market

>>	Anonymous Mon Jan 22 00:06:43 2018 No.6807337 >>6806681 I'm new to trading, trying to exchange small amounts to get a hang of it. Can you explain what do you mean by your post pls. If not it's fine.

>>	Anonymous Mon Jan 22 00:17:02 2018 No.6807636 >>6805731 a fucking hurricaine

Anonymous Mon Jan 22 00:28:18 2018 No.6807954

>>6807337
It's called short selling. In a nutshell, you're borrowing shares from your broker at at certain price, and when/if it goes down, you "buy" back those shares at a lower price and the difference is your profit, not including the commission.

That way, we day traders make money even if it's a bull or bear market and not on hope like these shitcoiners.

>>	Anonymous Mon Jan 22 00:52:02 2018 No.6808681 >>6804923 oh my goodness, she is perfect.

>>	Anonymous Mon Jan 22 01:14:57 2018 No.6809298 >>6807954 Actually where can I do shorting? I've been looking into it since I've finally broken five figures but have no clue where to do it.

>>	Anonymous Mon Jan 22 01:16:30 2018 No.6809347 >>6807954 thanks man i'll look in to it meanwhile i can't day trade because i work during that time, but maybe someday

>>	Anonymous Mon Jan 22 01:18:12 2018 No.6809404 only reason i day trade is to build my eth stack.im at 0.98 rn from 0.05 after swing and day trading for 3 weeks now. if you have 5+ eths than hodling is obv better

>>	Anonymous Mon Jan 22 01:22:02 2018 No.6809505 >>6807337 >>6809298 >>6809347 you probably shouldn't be short selling if you don't know what the fuck you're doing potential for loss is much greater than taking a long position

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