don't day trade
it looks embarrasing but i take out something more powerful than money out of this and its knowledge.
im warning you, just dont day trade, you might make some good guesses here and there but in the long run you will always lose
all these trades were based off emotion and me frantically clicking every buy and ask order
lol
You meant to say don't daytrade like stupid fcking dumb retard
>all these trades were based off emotion and me frantically clicking every buy and ask order
Fucking idiot
HAHAHAHAHAHAHAHAHHAAHHAHAH
how is that daytrading you moron
that's you fucking around gambling lmao
user dont fking buy ATHs!
but since u already did... fking hold
uuuhhhhh, just started out. so far im 40 picks out of 44 for making my chosen percentage gains. So maybe this just isn't your thing?
Youre right about daytrading being risky. Its about a 50/50 shot for winning, but it is fun and hard to not try it once in awhile. Here's what I do user, to minimize risk:
I find whatever coin looks like it's going to go big and I put a moderate amount into it (for me this is around $500 or 0.2BTC) It's about 2% of my portfolio at the moment, so it's not a huge risk if it fucks up, but if it does do well, then it can really pay off.
I did this with antshares because I got lucky enough to hear about it late last week. I got in at 0.00064500 or so, which for 0.2BTC was about 300 ANS
I set a sell order for 150ANS at 0.0013 and stopped looking at it. By the end of the day it had passed 0.0013 and I had made back my 0.2BTC investment. I've been sitting on the 150 since, and I was able to reinvest the 0.2BTC (put into CFI earlier today).
This way I get to expand out into other coins but I have a pretty decent chance of getting my investment back within a few days if the coin's about to do well/hype incoming...and I have absolutely nothing to lose with keeping the other half on the market. I have no reason to worry about it crashing through the floor, because the other half is just gravy, so I'm more likely to hold for a long fucking time.
it's only a gamble if you are a brainlet
>user is a brainlet
This is great advice.
I'm still learning but early on I was throwing around too high a percentage of my overall holdings. Where I did managed to get wins every once in a while, I would get eaten up paying fees and on small swings taking big chunks of holdings because of it.
I wish I had been more conservative with my margins going in, would have saved me a lot of stress and holdings.
It won't moon you to crazy profits in the short term, but it will keep you from going broke in the same amount of time.
looking back it pains me thinking about how many stupid and uninformed trades I made with way too much of my overall holdings backing them up.
>I would get eaten up paying fees and on small swings taking big chunks of holdings because of it.
Bittrex fees suck and can really ruin profits. You pretty much have to make a commitment to hold and wait for something to double (you could also do a 1.5x gain/sell: buy 1500 coins at .001, sell 1000 at .0015, hold 500 until the end of time).
Keep an eye on coins that just hit the exchanges and wait for the first big crash to happen. It'll take it a few hours at least, but once it crashes hard, that's usually a good place to buy in.
Things that might double soon? RDD looks possible. It's dropped down pretty low and is probably about to swing over 80-100 again. Not as sure about XVG. it was still dropping today.
MYST/PTOY/CFI could do something interesting because they've all just been listed on Bittrex
LTC will see some more gains as Aug 1st approaches.
SJCX (Storjcoin) is being converted to an ETH token soon--STORJ coins will be released (should be released) to ICO participants in the next few days, which means SJCX coins are about to be obsolete. STORJ sold during the ICO for $0.50 per token, but the SJCX coins are currently sitting at $1.34...STORJ probably won't start that high, so if you grab it quickly it should double.
yeah, eating $15+ in fees on top of losses from a 10%+ down turn on a bad position isn't so bad in the short term, but when you're far from whale status and throwing around too much of your holdings to begin with, they really add up fast and become profit vampires.
Isn't it like only .25% per trade?
Anything above .50% increase should net you profits.
>all these trades were based off emotion and me frantically clicking every buy and ask order
Wow I found your problem
The bots are good at switching the order book instanteously. You have to pick ranges and stick to them.
That's what I thought too. I-Is it more than that?
Yes, it's .25%:
Bought 750 CFI at 0.000132 (cost 0.099 + .0002475 fee)
To make my money back here, I'd have to sell 750 CFI at 0.00013267. Not a huge problem, no, but if you're being really twitchy it adds up. OP has 25 trades. That's crazy high and there's a lot getting pulled out of that.
Also this is an important consideration. Usually people who daytrade and lose money are doing it on HIGH volume coins like antshares, which a whale can swing the price like 20% or more just by dropping a big wall. So if you are trying to punch in a number to buy or sell and keep "missing" because the numbers are flying by, you're less likely to be precise about where you want to place your order.
Tell me if this is a good goal, famalams
>buy volatile upward trending coins at dip
>set sell order for buying price + 6%
>try to make 5% gains per day after fees
Is this doable? Seems pretty simple and I've already pulled of a few of these trades. My goal is to 1.05x my starting balance 100 times within the next year and let compounding do its magic.
how much are you putting in when you're buying the dip? 5% of 1.0BTC isn't great but it's not awful. 5% of 0.1BTC is shit.
also considering it's 50/50, every time you compound your gains you're risking shitting away whatever you've made so far. Thats why I recommend that strategy. I cashed my initial $500 investment into antshares out when it doubled and I've been watching the other half fluctuate between $1000-2200 ..that would normally bother the fuck out of me and I'd be really twitching to cash out the rest at $2000 or something because I wouldn't want to get fucked by a crash, but ANS will almost certainly keep going up and be worth way more in a month.
Oh, and SNGLS (SingularDTV) will almost certainly double whenever they have another announcement. No idea when that will be, but it's been sitting at 8000sats for a month and a half and the market cap is low as fuck right now.
there eill always be a dip, ans is a dead coin now.
I think Ill keep doing what Im doing thank you very much
I can't tell what's going on from that table. How much did you gain or lose?
My day-trading strategy for you assholes willing to listen:
-Pick 5-10 winners (good fundamentals, upward trend, still low market cap)
-Put buy orders for what you think a dip might look like
-Acquire
-Wait till you see a big spike
-Try and sell at top and buy back in about 10% lower with the same btc you sold for.
It doesn't always work but I've found this is a good way to accumulate more of interesting alts.
Impressive, any tips?
What is considered low market cap?
Low is relative. Basically you want something that has room to grow 10x or more. Some people might want to get in when it's a few sats a coin. Maybe you want 10m-50m cap coins. There are a few coins above 100m that I think are severely undervalued.
buy high sell low
be patient
cut your losses
This is basically what I do, though perhaps I gamble a bit more on the specific coins (I have an even spread of established high market cap coins, respectable middle-tier coins, and a few lower-tier ones that seem to have steady buzz even if their low volume). An easy 30% every week, on an average week.
if youre being so "twitchy" that your gains are less than .25%, you have no business trading and it's probably time to shoot yourself
to non-retards, .25% fees is not something to every worry or think about
Nice. Yeah I wish I had gotten into this earlier. Been in alts for only 3 weeks. Still up quite a bit trading even after getting burnt badly a few times.
STOP SELLING STUPID KEKS