Hey Veeky Forums so lately I've been seeing lots of poloniex trading threads or post here so I decided to look into it. Since I know a thing or two about forex trading and have some experience behind my back i thought that crypto day trading can't be much harder. I'm not talking about going long on btc or eth or etc or some other similar shill coin and waiting years just to earn something. I'm more interested in the margin trading section of polo. So if you could help an user out and give me some tips about starting and maybe share some of your (successful) methods. Literally anything you can think of: starting capital, time spent trading a day, realistic profit goals etc. Also i feel like this board needs a separate poloniex (margin) trading general (PTG?), because CCG is full of shilling cucks and Neets.
Hey Veeky Forums so lately I've been seeing lots of poloniex trading threads or post here so I decided to look into it...
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all i can say is. crypto has wild volatility.. from 40% - 2000% per day
if youre a forex trader, youre gonna love it
>So if you could help an user out and give me some tips about starting
Leverage kills.
Violent swings happen much more often than in forex world.
No big daddy market makers & central banks looking for the prices to stay in line.
Wild breakouts.
People with $50k belong to the bigger guys in the market, average market participants have a few hundred or thousand bucks while in real forex word it's like x10.000 (if one disregards retail forex and bucket shops)
>some of your (successful) methods.
During the semester I sometimes daytrade and use technical analysis. When I don't do this I just keep a handful of the most promising/interesting/secure coins. e.g. currently BTC, MAID, XMR, FCT. Both approaches have been equally successful atm. Not sure if due to skill or luck.
Starting capital doesn't matter. Just use what you can afford and keep your leverage conservative.
Time spend trading during my active phases is literally all day everyday.
Is there any reason for the big swings that happen. I have been following some of the bigger cryptos (without making my technical) just for fun for the past couple of months and i have seen some pretty big swings. Some of them were based on some sort of news but some are just purely random (for me at least). So is there some sort of a reason for the bigger swings that happen like news, hacks etc (fundamental analysis) or it's just how the crypto world is: full of randomness.
I created a Poloniex bot a few months ago, it is very advanced now, and has taken me from 100$ to 244$ without me having to do anything. Also I only ran it like 2 hours a day average because my parents don't want me leaving the computer on 24/7 due to electricity.
I want to sell the bot but I've been a bit too lazy to figure out how to monetize it.
It's a scalper bot meaning it takes multiple 1% profits per day. Something that would be very hard to do manually. Takes all the work out of it. As you know, crypto, such as XMR, can see a 1% loss followed by a 1% gain in just a minute or so. That's how the bot prospers easily.
Also what is your technical analysis consisted of? Back on Forex i mainly used TA (technical analysis) compared to fundamental. My main way of making profit was using a simple swing trading strategy. I always used indicators like Momentum, moving average (SMA, EMA), MACD and sometimes RSI for figuring what the support and resistance levels are. But I doubt that those things are going to work on the crypto charts? Or are they?
The only idea I have to monetize the bot to be able to give it out for free to the public, is if I make the bot send me 10% of its profits on every trade. But so far I haven't found information on how to do that. But I haven't looked very hard because as I said I'm very lazy.
The bot will take as little as 0.6% profit on a trade if it detects the per minute fluctuations are wide enough for it to succeed in under 2 minutes
Well my programming skills are literally almost at zero so making a trading bot is definitely not an option for me. What signals did your bot use for entering a trade if you don't mind asking?
It uses algorithms that resemble SMA and RSI and so on but each one is altered to where it really can't be called that anymore. Basically it's all custom. The bot's core functions were completed months ago so I'm having a hard time remembering small details.
I'm looking over the bot's source code now to refresh my memory on how exactly it works
Nice affiliate there buddy :-) despite your investment idea being shit
I'm very interested in this bot-making business. How do you get into making a scalper-bot with only basic programming knowledge?
Tbh the bot I make would take a 7/10 programmer to make. Basic knowledge can't make it. But I made it in C# language if that helps. But you can make it in almost any language. Not sure really
>mql5.com
I don't recommend reading that. It's mostly meaningless fluff. It won't help anyone make a trading bot.
I do price action in forex and I can't understand shit about what's going on and causing the swings in cryptos
You get 10x leverage trading on BTC and I get a commission. Everyone wins.
I'll give you $50/month for it
You can sell it on cryptotrader.org