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/biz/ - Business & Finance

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9960209 No.9960209 [Reply] [Original]

Zero experience with crypto. I have a decent wagecuck job lined up later in the year but atm i'm literally playing video games all day.

So I was thinking i'd fuck around with day trading and see what happens, got nothing else to do. Can afford to lose $100 so i'll start with that. Would you guys recommend it? As a means of understanding how these markets work more than anything else. Maybe once I start getting wages I can invest properly.

Pic unrelated.

>> No.9960231

>>9960209
100 dollars isnt much, just go all in on a shitcoin and wait till it moons. Even if it drops don't sell at a loss.

>> No.9960244

>>9960209

No, day trading in small amounts of less cost effective because the swings don’t account for fees.

Your best bet is researching a small market cap and throwing it all in something you are confident will grow.

>> No.9960273

>>9960244
How do you know something will grow? It's based on popularity as I understand it, so is it based on news coverage/google trends?

>> No.9960301

It's actually a lot, considering you're just trading marbles at your after school day care

>> No.9960310

>>9960273
you sound very new, i'd suggest just lurk /biz and get a feel for what you might like. Be careful though most people will shill you shit coins they're invested in who are looking to dump they're holdings. (0xBTC). Join telegram groups, check for announcements/conferences etc.

>> No.9960321

>>9960273
just buy dero nigga, rock bottom

>> No.9960340

>>9960209
I think if you have no experience with day trading $100 is good to play around with. You can get a feel for it and if you lose every penny of it you won't feel as bad.

Basically if you put $100 on almost any alt right now you'll increase it in a month, I can almost guarantee that.

>> No.9960411

no, it's not a lot of money, for any market. But if you have never done any trading at all, better to trade with a small amount rather than doing any demo trading.

>> No.9960423
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9960423

>>9960209
>day trading
>crypto
Go play roulette OP, it's a bit less than a 50% but at least you are doubling your money.

>> No.9960445

>>9960273
>How do you know something will grow?
>Crypto
You don't.

>> No.9960929

You will make mistakes and lose money before you learn from this mistakes and make money
Don't make the same mistake twice
When you do make mistake make sure you understand why
Buy really really low sell high ez

>> No.9960935

>>9960244
>.1% of $100 is different than .1% of $1000 is different than .1% of $10000
This is why liberals should shut the fuck up about "muh fair taxes." You retards are clueless.

>> No.9960952

Not really, you'll blow a significant percentage of it on exchanges trading and withdrawal fees and network fees.

>> No.9960965

Daytraded 60 usd into 3200.

Good luck.

>> No.9961057

>>9960965
In crypto? And what platform?

>> No.9961068

>>9961057
Yes.

Binance, Bittrex and Cryptopia.

Using Kucoin too but no big hits there.

>> No.9961092

>>9960209
you're better off gambling in regular internet casinos that are less likely to completely rig the games or run away with your money. don't let the desperate bagholders tell you otherwise.

>> No.9961133

>>9960310
you are from reddit, aren't you?

>> No.9961159

>>9960965
Bull fucking shit. When did you start

>> No.9961232

>>9961159
First foray into crypto was in July last year, had a real life dip and had to cash out all my crypto in November.

Took few airdrops next week, gathered around 60 bucks from them and started daytrading, didn't put a single cent since then outside some very minor mining with a low end gpu.

>> No.9961241

Yes it's enough. The sheer fact that you're cautious with your money makes you smarter than 90% of gambling retards on this board so take any advice from biz with a heavy pinch of salt.

>> No.9961247

>>9960209
Don't you need a certain amount of money or education in order to be licensed to day trading?

>> No.9961257

$100. Fuck off dude, you need way more than that if you even want to consider day trading.

>> No.9961274

>>9961159
you can do it trading low caps, it's not super scalable and slow in the beggining but it probably works

>> No.9961301

>>9961232
Which airdrops? Which one were your biggest hits? That's some decent gains. Sadly it was from a small amount.

>> No.9961306

>act as a wagecuck
>imply normies can somehow find their way to biz
stop larping you gigantic faggot

>> No.9961317

What's ideal to start daytrading with? like 1k?

>> No.9961319

>>9961301
egold or something like that iirc.

>> No.9961337

>>9961159
literally anyone could've done this if you even stumbled into crypto this time last year

>> No.9961359

>>9961337
Kinda why I asked when he started moron.

>> No.9961444

No not really. I don't know what the minimum buy is in USD but it used to be 10$. Risking 10% on a trade is bad. I'd adivse risking one or two percent, so you'd need 500-1000

>> No.9961468

>>9960935
>exchanges have only variable fees
t. retard

>> No.9961472

It is. I went from 275 to 16k in 3 months. But this was during the bull market and a lot of luck involved

>> No.9961510

>>9961472
If anyone wonders: VTC, WTC and all in on vechain at 29cents, also iota for a bit. 16k is a higher amount now though

>> No.9961677

>>9960209
just go 100x now and close your position at 14k you have roughly 10k then. then you sell from 14k to 11k. now you have 300000.

>> No.9961689

>>9960209
Yes. You’re a noob at this so investing the minimum amount is unironically the best thing for you. Don’t put in real money for at least 6 months, when you know more what you’re doing. And even then, i wouldn’t put in more than 1 month’s pay total. Remember, if you put in a month’s pay, every +100% is another month you won’t have to work.

>> No.9961703

You'll lose $100 on your first trade.

I lost $3000 today on a shitcoin. I don't advise daytrading at all, frankly.

>> No.9961795
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9961795

>>9960209

>> No.9962769

>>9960273
you hit the nail on the head. Don't "invest" in crypto. Just be a boomer and buy stocks. You can actually predictably tell what is going to do well if you do your due diligence. Retards in here will just spam BUY XXXCOIN ABOUT TO MOON then a month later call you a retard for holding it.

>> No.9962815

>>9961677
100xlong get liqed with a $40-$50 move down this shit happens multiple times a day. 100x is pure luck

>> No.9963031

>>9962769
I'm seeing it as educated gambling for the most part.

What about chainlink? People here talk about it like it's sure to make them a millionaire within a few years, is it a meme or is it likely to be legit? I will do my own research of course but just asking.

>> No.9963137

>>9960209
I do advise daytrading and I myself had started with $100 as an experiment and I managed to 3x it in around 1.5 months. The more it grows, the better it gets. That was a while ago though. Since the start of May the market has been so slow that the daily volatility just isn't worth it / it doesn't give you enough opportunities to have good trades.

>> No.9963157

>>9960209
Here's the issue with day trading, unless you know exactly what to do, you'll lose.

Turning 100 into 10,000 could take months, if not years.

>> No.9963176

>>9960209
If you can find stuff and have patience? Sure.

Just don't listen to biz.

>> No.9963215

>>9963031
newsflash, crypto is pretend money. no-one knows what will go up or down, and /biz/ will just shill whatever they've bought. it's glorified gambling

>> No.9963485

>>9961468
the fees are miniscule... have you even traded?

i have traded with $100

>> No.9963529

I suggest you try to grow your $100 very patiently. Keep a professional trade journal which led you to make each trade, basically take it seriously and document.

And once you've grown that $100 into $200 in such a calculated manner, you can approach others and show them that you've made money in a bear market successfully. They will invest in you and then you can trade with $5000 faster.

>> No.9963861

>>9963031
First of all People here will troll you with shit like bitconnect and tron. I hope you are already well versed enough to realize those are the real memes.

Your solid highcaps and safest bets will always be ETH and BTC. You need to realize that day trading is the biggest meme of all. When everyone is new at trading, myself included, they hear about day trading and think they can quit their job and work the markets all day for easy profit. Im here to tell you its not that easy and its not that simple. Your essentially dealing with random levels of volatility. Remember, this is the internet and its very simple to lie on the internet. If you see someone on /biz/ telling you they made $500 today day trading whatever flavor shitcoin, take it with a grain of salt. The best and easiest way to make money in this game is to simply accumulate when prices are cheap (like right now) and hold your assets and let them appreciate in value over time.


No Chainlink is not a meme and I am dead serious. It is one of the most influential projects in this space. But because /biz/ loves chainlink doesnt mean that should instantly love chainlink aswell. There is a possibility that the team can not deliver. You should instead be in love with the idea of decentralized Oracles. If another team comes along and make further progress then Chainlink, you should put your chips on that bet instead.

If you are confused on where to start, do yourself a big favor and research:
>Smart contracts on the Ethereum network
>The oracle problem that Smart contracts face
>Chainlinks whitepaper and videos of sergey nazarov speaking on smart contracts/chainlink/decentralized oracles

>> No.9964586

>>9962815
yeah thats why he should buy at the bottom omg.