/biz/ - Business & Finance

[Anonymous No.7518459]

tfw to stupid to day trade

[Anonymous No.7518486]

>>7518459
Me too ): if I told you how much I lost in the past week trying to daytrade you wouldn’t believe me (more than 100k)

[Anonymous No.7519493]

>>7518486
Did you use any indicaters?

Or just a 'I think it will go. . .'

[Anonymous No.7519675]

>>7518459
If a brainlet like me can do it, you can do it, anon.

[Anonymous No.7519694]

>>7519675
rough strategy plz

[Anonymous No.7519697]

>>7519675
Teach me the way senpai

[Anonymous No.7519704]

Ive probably lost at least 20% of my entire investment daytrading. But I still cant stop (am more careful now though).

[Anonymous No.7519711]

>>7519675
teach us almighty one

[Anonymous No.7519714]

>>7519675
pls let me orbit you to learn. my discord is Sem #8616

pls add me

[Anonymous No.7519720]

Sell now.

Buy in a couple of days.
Won't tell you much more, you know what to do. Don't say /biz/ is not here to help you, even if you're a retarded newfag.

[Anonymous No.7519762]

>>7518459
listen to this anon>>7519720

[Anonymous No.7519765]

>>7519720
I sold my ETH at 880 and fomo’d back in when it hit 900

I have the retard disease how do I know what to do now

[Anonymous No.7519767]

>>7519675
Yes Sensei ... Start Channel on Discord... Me send 2 rock to help you cave

[Anonymous No.7519797]

>>7519765

SELL

You'll be able to pick up bags at 560 soon

[Anonymous No.7519815]

>>7519797
I just did. Drop your ether address, if this pays off for me I want to be your friend and send you .1 ETH as a thanks :)

[Anonymous No.7519818]

>>7519797
this

[Anonymous No.7519834]

>>7519694
Buy the most extreme dips and sell on the bounce. Think about it like this. The market as a whole thinks the price is x. That's the collective wisdom called price discovery. But every so often, the price isn't x but y. It wont last long but if the delta between x and y is more than a few percent, you strike. Your job is to spot those opportunities.
As an analogy, everybody is selling Macbooks for $1000. That's the market price. But for whatever reason, Target decides fuck Apple and starts selling them for $200. Are Macbooks now worth $200? Fuck no. Everybody just backs their truck up to Target and the next day the price is back up to a thousand. That's what you're looking for.
I hope this helps.

[Anonymous No.7519866]

>>7519815
Just don't FOMO buy again if you see that the price goes up a little, buy when you see everybody really in panic and /biz/ full of pink Wojaks.

If you feel the need to buy, just do something else.

[Anonymous No.7519882]

>>7519866
Thanks friend, I love you
I actually have legit brain damage so my impulse control is all messed up
Probably should not be using crypto but I’m a silly lad!!

[Anonymous No.7519895]

>>7518459
>>7518486

what did you do?

you literally can't go wrong buying a stoch cross above 80 and buy below 20 with a 2% trailing stop on both.

[Anonymous No.7519914]

>>7519895
What is a stoch cross?

[Anonymous No.7519919]

>>7519834
So you used tether or bought with more fiat? Both are cheating btw.

[Anonymous No.7519959]

>>7519834
the fuck nigger? that's not even trading!

[Anonymous No.7519962]

Is it safe to sleep tonight

[Anonymous No.7519967]

>>7519919
Neither. After trying at $7500 back in November I think it was, or December, and fomo'ing back in at 9000$, I realized I'm not nearly smart enough to time bitcoin tops so I never tether out. I don't buy in cuz I don't make enough in my day job to be worth it. That chart is pure day trading shitcoins.

[Anonymous No.7519975]

>>7519834
tnx, will post monies when i gets thems

[Anonymous No.7519987]

>>7519967
What alts do you trade?

[Anonymous No.7520005]

>>7519914

those right there, stoch RSI

you literally can't lose unless you are holding the coins and its a bear market, if its a bull just hold the coins

then set a trailing stop %2 above sells and %2 below buys.

I guess don't sell always at the cross, just use some judgement and some other indicators to see

[Anonymous No.7520006]

>>7518459
>tfw to stupid to day trade
>to stupid to
sad.

[Anonymous No.7520009]

>>7519967
>>7519834
I do the same and I have similar gains. It's so easy, it baffles me people don't get it. Don't bother with these brainlets, let them enjoy their TA astrology books.

[Anonymous No.7520034]

>>7520006
that was the intention.

[Anonymous No.7520059]

>>7519959
Well whatever you call it, it works for me. No TA, just eyeballing charts and low balling what looks good. I keep it simple enough my brain can handle it. One coin I was on yesterday went up and down 20% like 4 times in the space of 2 hours. Every time i sold, i put another buy in. I mean, how can you possibly lose? I made about 4k. Look at the last spike on my chart to see it.
>>7519987
Almost all of them. I just make sure I don't go in more than 1/7 the daily volume. The only ones I avoid are ones being imminently delisted, and ones with really weird charts.
>>7520009
Yeah, I tried ema, rsi, and stochastics at first. Too deep for me. couldn't make it work at all. Now I just eyeball it.

[Anonymous No.7520077]

>>7520059
So do you have half your stack ready to sell and half ready to buy?

[Anonymous No.7520088]

>>7520006
>not knowing the meme

[Anonymous No.7520123]

>>7520005
how long should you be holding coins using this indicator?

[Anonymous No.7520147]

gains for these past 10 days starting with 1k on XRP, minus the 0.3% exchange fee so its a bit lower but not too bad

best part is I have a bot do it for me lmao

[Anonymous No.7520164]

>>7520123

I don't really hold coins except for my "long term investments"

I start with 1k, trade, make some $, keep it in FIAT until the next morning, repeat process, then invest some earnings into coins to hold.

[Anonymous No.7520200]

>>7520077
It usually goes so fast I don't have a set delineation like that. The scenario is I'm in btc and waiting for something to drop. It does, I put in 1/2 btc or 1/7 the daily volume of the coin whichever is lower. If I get the fill, I watch what happens. Usually, I get a quick bounce and sell. Otherwise I do some fast research. Check news, prices on other exchanges, plebbit, twitter. If the price on all the other exchanges is holding high and this is just a localized dump, I know I'm about to get paid and sometimes I'll just go all in. The key is spot opportunities fast, buy fast, and sell fast. Really fast.

[Anonymous No.7520234]

>>7520164
I mean how long should your average trade take? I seem to be struggling to make even 1 trade a day

[Anonymous No.7520235]

>>7520147

to add to this, these are the trades the bot made, def missed some of the highs and lows but its literally free money just running it in the background if you're trading other coins.

[Anonymous No.7520245]

>>7519694

Buy red sell green. Almost like when you’re at a stoplight. You fucking preschool retard.

[Anonymous No.7520284]

>>7519834
This. I've made like $1500 (yeah it's chump change) in the last month just watching a coin for a few days and then setting a buy at -30% or whatever.
When ADC was going for 120 sats I set a buy at 90, got filled in a day and sold at 115. Same with zcl and zec. There's a trend they'll follow, and a certain price they're worth. Find a marine you're comfortable with, buy at that margin and sell when you see fit.

[Anonymous No.7520290]

>>7520005
How do you set trailing? Is it exchange specific? I use binance and it doesn't seem to have it

[Anonymous No.7520292]

Day trading is fucking stupid.
On the way down you pay fees to lose money and on the way up you capture a small part of your profit and hand some of that over in fees.
Everyone day trading is losing money because day traders are always fucking idiots.
Buy long term value.
Don't sell unless you have somewhere better to put the money.
Think twice before buying.
Do I know why this coin has a future or am I just buying it because a green frog said I should.
Idiots.

[Anonymous No.7520306]

>>7520234

ah I see what you mean, its literally just when the indicators tell you, could take all day if there's low volatility.

I would start at 30m, patience is the hardest thing about trading, that's why my bot is sometimes better than me (at swing trading at least)

[Anonymous No.7520312]

>>7520284
Margin. Please don't take trading advice from a marine.

[Anonymous No.7520324]

>>7518459
most day traders lose money in long term unless its their full time job

[Anonymous No.7520350]

>>7520324
You underestimate the amount of free time some of us can have.

[Anonymous No.7520361]

>>7520290

I don't use exchange stops, I have them custom coded so I'm not sure to be honest, I would be very surprised if they didn't have them though.

If you're sitting in front of the charts all day though, you can just use your head. If its at $1 and it goes to $1.05, tell yourself you'll sell at 1.03, if it goes down to 98, just instantly sell. The idea is that you won't draw your account down too far, only losing 2%, you're betting your trades will be 50+% successful.

I would get a free trial account on Tradingveiw.com

its what I use, has everything you'll need.

[Anonymous No.7520382]

>>7519834
Crashes like the one that happened the other day don't happen that often tho
You might be able to pull this trick like once or twice a year

[Anonymous No.7520390]

>>7519866
>buy when you see everybody really in panic and /biz/ full of pink Wojaks.

I've only been in crypto for about a month but I've learned that this is literally the number one rule for success.

[Anonymous No.7520413]

>>7520292

literally added $1500 to my portfolio in the last 10 days, all that applies only if you're a brainlet.

>implying there aren't huge frequent dips
>implying you can't/don't use some of your profit to invest in other coins too

[Anonymous No.7520423]

>>7519962
If you're tethered, yes.

[Anonymous No.7520459]

>>7520147
what is the name of this bot anon and where can I obtain it please?

[Anonymous No.7520466]

>>7520292
I envy people who can read a few white papers, separate the wheat from the chaff, go all in and wake up to 1000x 6 months later. But other than the obvious scams like prodeum and bitconnect, it all just looks like Greek to me. I was too late for Ethereum or Monero but I'd like to think I could have spotted that. Lately though it just all looks the same. I can read a chart in about a second though cuz it's pure visual. No numbers to crunch, no dev team I have to root out, no "dog shit but in the blockchain lol!" mess. Just stick and move.
>>7520382
It happens daily with shitcoins and there are thousands of them. I go bitcoin to shitcoin to bitcoin. Wash rinse repeat. I don't even concern myself with the price of btc since I can out trade the price drops until it comes back up. Then I'm really in the money.

[Anonymous No.7520467]

I made $8k buying SPY puts yesterday. Then it had a fucking incredible bounce up at the 200 day moving average. That shit would not come back down.

I ended the day down $12k. That's two months of work. Fuck my life.

[Anonymous No.7520489]

>>7520413
Is it hard for a noob to learn how to make a bot? I'm a medicine student so I'd like to think I'm not completely retarded but I have no idea how to code, but I'm willing to learn in my free time, when I have some. What language should I pick up to write a bot? Maybe Python? I could really use some money to pay for my expensive studies in poorfag country

[Anonymous No.7520491]

>>7518459
Dude, don't say trade. I put in $4,000 five years ago (yes I know that's a relatively long time ago) but I basically had only BTC then ETH until the last eight months and this is where I'm at now.

If you DO decide to trade, I would say have 50% of your stack in ETH or BTC and trade with the rest.

[Anonymous No.7520496]

>>7520459

its custom lmao, its not too hard though, they way I have it is pretty scuffed though, takes emails alerts from trading view from a custom strategy, since i have it on 30m candles, the 5 seconds or so it takes to get the order our doesn't hurt too much.

[Anonymous No.7520517]

>>7520489
Python and the ccxt library. Look the latter up on github.

[Anonymous No.7520561]

>>7520517
Cool, and does it take really long to learn the basics, like a few months or is it quite basic for a simple bot? Might be a brainlet question but I have literally no experience with coding

[Anonymous No.7520578]

>>7520489
Look at sentdex channel

[Anonymous No.7520597]

>>7520284
this guy fucks

set an buy order at -30% to -10% and then go fuck some bitches, come back and sell that shit with 20% win. easy money

[Anonymous No.7520622]

>>7520491
4k 5 years ago? How the fuck aren't you a millionaire already? You are living proof of what not to do.

[Anonymous No.7520625]

>>7520489

It depends what exactly you're looking for, if you want a "money printing machine" you should focus 90% on developing a strategy that works, 10% on the bot.

The bot is nothing compared to the strategy.

Just need python and a simple understanding of API post, get etc.

pic related, is my bot that I'me working on making look pretty af cause I have nothing to do all day lmao

[Anonymous No.7520655]

>>7520466
Doesnt ake too much sense to me
Right now everything is below the price it was last month
So do you just buy anything? How long do you have to way for the bounce? What if btc goes down 20% right now? You're fucked

[Anonymous No.7520659]

>>7520561
You can learn the core Python language, input/output, variables, loops, branching, etc. in about a month from complete beginner to fullon grok. And ccxt is just common sense. You translate what you want to do on the exchange to how ccxt would do it. If you want to use TA, there is a python library for that called ta_lib or something. The whole thing from zero to hero for a smart guy is maybe 2-3 months of dedication.

[Anonymous No.7520769]

>>7520655
How can I put this. The prices you see right now for the most part are true market prices at this very moment agreed upon through mutual price discovery between buyers and sellers. Despite the probability of them going up, they are the true price as of this moment. That is not at all what I am looking for. I'm looking for drops that do not represent market sentiment. And before the market catches up, which is usually a very short time window, seconds to minutes, I buy and when the market corrects I sell. The price of bitcoin is irrelevant to my interests until I cash out. (Not that I can cash out but that's another story)

[Anonymous No.7520810]

>>7520597
>set an buy order at -30% to -10%

you're referring to altcoins or what?

[Anonymous No.7520827]

>>7520467
do you just sort by %change and buy up the ones that have obvious dips on the chart?

[Anonymous No.7520853]

Also guys, which exchange are you using to daytrade?

[Anonymous No.7520861]

One of the most informative threads I have seen on here about this subject... newausfag... Appreciate the serious responses and good simple info. One question.Should I use a microsoft or linux machine rather than my apple for day trading. I am currently in a job that pays ok, allows me to do mostly what I want whilst in my office and no boss looking over my shoulder. I have decided during a Ayahuasca Journey late last year to dedicate this year to trying to make some $ ... When I learn what I need I will be creating a healing centre and sustainable living school somewhere in the South Pacific... Any good discord groups to join for advice on trading that are legit ? I see the next two years as a very interesting time to be involved in this game, Already accumulating some coins and will shortly have some $ to learn the trade... Cheers boys... Love this Channel...

[Anonymous No.7520863]

>>7520810
Yeah. If btc dumps 30%, it's dumping and I'd stay back and watch. Alts move relatively fast in price.
Take linx for example. Up and down 50% like 5 times each in the last two days.

[Anonymous No.7520887]

>>7520861
why can't you use your mac?

[Anonymous No.7520902]

>>7520887
This.
The only reason not to is windows specific programs, and for crypto there aren't many. The wallets can be complied on Mac, most of the time.

[Anonymous No.7520938]

>>7520902
Thanks...thats what I thought. Always been a mac user but if I buy a cheap Gates machine dedicated to crypto it may be worthwhile. Thinking about the bot conversation ;)

[Anonymous No.7520966]

>>7519919
>Both are cheating btw.

[Anonymous No.7521004]

>>7520938

bot would most likely run on python anyways so honestly you should be good my man

[Anonymous No.7521012]

>>7520863
gotcha, thanks anon

[Anonymous No.7521034]

>tfw read trading books
>tfw study charts
>tfw I still miss out because there was no hype

Not sure what to say.

[Anonymous No.7521293]

>>7520769
So I was right, you only made insane profits with the crash that happened the other day
As you said everything is already corrected now
You might have to wait a while for the next crash imo
Still good strategy overall I guess, assuming you have tons of time

[Anonymous No.7521322]

>>7520938
It probably would be easier in the long term to buy a few parts used and pirate windows.

[Anonymous No.7521352]

>>7521293
I posted a chart above. I'm up 500% this month. The crash is only tangientially relevant to my gains.

[Anonymous No.7521397]

>>7521322
Sweet... will start looking :) ...

[Anonymous No.7521427]

>>7521352
You got lucky
Take care

[Anonymous No.7521473]

>>7521427
Fuck off

[Anonymous No.7521651]

Are there any good specific tutorials for how to start designing a bot?

[Anonymous No.7521820]

>>7518459
>see xrp moons
>want to sell high and rebuy low but am a scared bitch
>settle on selling 200 xrp at 1.08 tether
>sell and get scared
>place buy order at 1.04 tether
>order goes thru 30 minutes later
>profit 4 xrp

is this how you do it?