Daytrading Crypto

Thanks, reasonable
I don't get your anger, I graduated from university last year and work a regular Job that is fun to me. I only have play money in crypto, it's a hobby to me. I feel like I can use some parts of my weekend (like right now) to learn more and more about crypto and yes- trading itself because I feel like I know little about it. Whats bad about wanting to learn smething? Jeez I learned to speak french and I've never even been there

fuck off old man ill make some pesos MY WAY fag. trades and work is for the average sucker

been day trading btc for about a week average between 0.5-2% gains a day after counting transaction costs. To be honest considering the amount of time I spend just fucking watching and waiting it's not the best use of my time, maybe if you're getting those returns on 100k you're alright but when i'm playing with only a few thousand it's barely worth it oh well compound interest dreams if it keeps up will eventually be proper money

Even a fucking toddler can daytrade on crypto markets.
Buy something with a high volume when it's low enough, wait for it to gain 1-2 %, sell, rinse, repeat.

Flip shitcoins.

The fact that you're this defensive about your gambling habits, using the same old cliche justifications, and projecting while misconstruing concern as "anger" should be setting off red flags for you right now if you had even a shred of self knowledge. As I said in my previous post, you've clearly already made up your mind. Set a hard limit for how much you're willing to lose, and when you arrive at that threshold (and you definitely will), pull out and go cold turkey before your "just for fun XDDD" gambling fucks up your life.

If you're making more wins than losses then just margin trade and it will be worth the time.

projecting much

You lost 3 ETH out of how many? What was your starting capitol? Just 3 ETH capitol has the potential to make a living wage as it grows. do some quick research and make some gains. Look at the coin ULA its gained 715% in the last 24 hours. If you have money to blow look at BITOK its raised 53% in the last hour to .000075 your skuncle Earl wants to see everyone on this board happy. Good luck

The +2200 member bitpam Veeky Forums cryptocurrency trading/mining/coding discord server and their trading guide helped me a lot, could help you too maybe, says chart patterns and stuff like that

bitpam.com/cryptocurrency-trading-guide

discord.gg/VpPrGmF

MGTi.

That right there is exactly what I was talking about. It's like when a hole comes to you for some "serious advice", but in reality she already made up her mind and just wanted you to agree with her. She then gets pissy and defensive when you explain why it's a bad idea.

This'll be the last response you'll get from me, I just wanted you to know that you're behaving like a hole right now, and as a man that should embarrass the fuck out of you. Good luck with your gambling.

There are professional gamblers too.

Brainlets can't into manipulating probability

so much bad info in this thread. comparing it to gambling is idiotic. anyway op i started with 10k on august 1st and have 58k right now in 6 weeks. its not easy but you need to research trading books and apply them to crypto. key things to I utilize are volume, RSI, macd, bitcoin performance, and always analyze the 5 min/15min/1hr/4hr trends

you are either super lucky or legit smart gg

Still safer than buying anything other than XMR, BTC or ETH and hoping it rises in the next 6 months

"I started at the beginning of the biggest bull month in history and made random trades and now I think I'm a genius"

I lost some money in "real" gambling, but I learned a lot. I believe that you described it correctly.
Crypto is more dangerous than a casino because it's slow and gives an illusion of knowing, an illusion of the ability to learn from mistakes. It looks like it's a skill, it allows one to feel smart when he wins and even smarter when he claims to understand what made him lose.
We don't see people who lose, but every dollar comes from somebody else. Speculation or trading is a worthless activity that cannot create anything or benefit anyone else and thus it is gambling.
When I first came to Veeky Forums, I thought that people here, invest to have something common to talk about, yet all I see now are retards who think they will win and become happy.

i competely agree that one of my issues with stocks and shit is the extent to which it is a zero sum game and for every winning value there has to be a losing value

The real geniuses are the ones who lost money during the bull run.

I suggest you read Daniel Kahneman work. He scientifically proved that it is impossible to predict market trends and that you should always take decision according to the base rate of an event. Currently, for altcoins there are more than 600 dead coins. I'll just let that sink in for a moment.

I will look into this, thanks user

THEN
EXPLAIN WHAT THE FUCK ARE ALL THE AUTIST ON Veeky Forums DOINGON A DAYLY BASIS WITH THOSE CRIPTOFUCKING COINS ALL DAY

Watch the order book and 1-minute candles.

Buy if it dropped a lot and the orders are flipping.

Sell if it rose a metric shit ton and the orders are reversing. This happens really fast.

Practice a lot with no money on the line to get the feel for it.

>Wait for a coin with transaction volume of over 2000 BTC to crash
>Buy it
>Sell at 20% markup 2 hours later.

Then what are you doing in a gambling board?

Losing money for the most part

Only way you can make good money is by playing btc using leverage. Extremely risky. Wouldn't advise you to do it unless you're very experienced.

I've fucked myself over trading.
I seriously wish I had stuck to my original plan when starting with crypto of just buying and holding ARK.

you need 140 IQ or higher to day trade

>learned French
>not Mandarin
It's like you want to be poor forever

>blarrbh, i em duhmb faeget

Prove it

Hey user, day trading is pretty simple once you can grasp the fundamentals and psychology of this silly market.

One trick that will separate the men from the boys is patience.

Don't chase the prices, let the prices come to you.

When we say buy low, it doesn't mean to "wait for the dip". You need to enter positions using limit orders placed strategically. Anticipating the dip and having orders ready to catch them is KEY. Spread your limit buy orders downwards on every identifiable level of support. TA won't tell you which direction the price will go but it sure as hell can help you decide where to enter a position.

Dollar cost average your buys all the way to down to 0 and KEEP them there, remember FIFO.

Lastly, don't get greedy, take your profits accordingly, especially when trading on margin.

You'll get better with practice and your gonna get fucked up a few times before you're a pro.

>Don't chase the prices, let the prices come to you.

10/10 advice

Trading dead coins can be very lucrative if you know what you are doing... Just look on Coin Exchange, lol

this book

90% of traders lose 90% of their capital within 90 days

Daywhat? Okay little fag, im gonna tell you a story.

Id made a kiling setting stops in pairs dat often get flashcrased, for excample bch/btc on bittrex, crypto its about arbitrage bots, yoy just find the pair set the order, and dont get a fk about it, and alarm when it triggers so you dont actualy get on a real dump and dats it, there is tones of pairs where it happens and bots always safe your bet.

It is worth the read

great, now instead of being a sad kunt and getting discouraged learn to become the 10% in the easiest market that exists.

33% of men don't breed either and 99% of the world makes less than 33k a year. so what?

can someone translate to english

Ayo, ayo, ayo (smacks lips), we he be sayin is y'all gots to look at ratios n' shiet, then be likes I don't give a fuck n' shiet then y'all be sellin that shit when it be high yo

The only issue is every trade is a taxable event. So should i just buy the dips and hold? Or is eth/btc to tether not taxed?

I watch one minute charts until I see big green candles. Then I buy. Also, see those big red candles? Yea, sell them

This is the only advice you will need to day trade successfully

Ultrafaggot detected

he's creating limit orders and stop losses based on the assumption an exchange will glitch out and the price of a given currency pair plummets like 90%.

than he gets a notification X currency has been bought or reached the limit buy price. then he sells it when the exchange fixes said glitch or algos start the same protocol and begin buying on glitch

Thanks user

christ man

I run a bot which is not based on cross exchange arbitrage.
Here are some observations for you user.

> TA
e.g. meme charting
Essentially the equivalent of trying to put people on some hand (or on a range if you are not a brainlet) when playing poker, only applied to markets.
Just like in poker, completely depends on your ability to recognise and make use of patterns while filtering out noise.
Just like in poker, you are probably shit at this (as are 99.9% of people involved).
IF you happen to be good at this (and I doubt it), its still shit tier, as there are better ways to make use of your talent.
Most twitter twats and meme bloggers will present TA charts as some kind of ground truth, learn to dismiss all of that.

> Exploitation is how you make $
Identifying and exploiting market inefficiencies will allow you to successfully play any market regardless of its current trend
or future base trend. For example shitcoin extreme volatility is arguably an inneficiency ready to be exploited by something as simple as mean-reversion.

> Learn the math
Yes its hard, yes its boring, yes you are a brainlet user, but you can do it.
Learning the math will allow you to actually understand why something works and how it works.
Always take a scientific approach, construct a hypnotises and test your strategy.
Math will allow you to construct your own financial instruments when you need them.
For example if you find that a time series is not particularly well suited to a simple linear model, you might still be able to find and exploit an inefficiency by constructing a hedging instrument (2 shitcoins and BTC for example) and here you would need to perform a cointegration test to get optimal hedge ratios.

> Use the data
And data here is everything from current price charts to trends from twitter, etc
But again, dont just go and trade by feels. Collect your data, make sure your data displays clear relational attributes (again there are various math/stat tests for this), etc

AMA

Boxers or briefs?

very interesting user. do you run your stat arb bot on other types of assets. im interested in the math and want to code some bots to entertain myself, what are the main topics to cover?

I've been daytrading a bit, works okay, still would have made more money hodling.

Protip, bots are your victims, learn them, abuse them.

> buy low, sell high but how do you uys do it on a daily base?

I buy low and sell high daily

no problem, hope it helped!

I don't actually, well I used to a long time ago but then HFT took over and there's no feasible way to compete without a massive infrastructural effort. Also the whole reason Im in crypto is because its not plagued by phds and other quants (yet), in general all of finance dismisses it for now. So the competition is just right.

Regarding math all depends on how deep you want to go. Essential topics definitely include stats on at least an undergraduate level, some econometrics/micro-economics (from the top of my head, "The applied theory of price" mccloskey is a great book) and the usual math combo of calculus and linear algebra.
Some finance will probably help too, but I wouldn't call it essential unless you want to do automated portfolio management, etc.

"All of Statistics" by Wasserman will get you started. Other topics of interest include time series analysis, randomness, the domain of probability, maybe even game theory (very debatable because the central idea there will be impossible to compute with such a large amount of players involved).

If you want to apply non-linear models (which I would advice against in general) like machine learning, deep learning, reinforcement learning, etc then you absolutely need vector calculus, convex optimisation and of course linear algebra once again.

Def start with stats and pick up the pieces one by one.

Thanks user!! I think starting on your suggestions and learning some math will be very wholesome use of time. My goal will be to make something simple and improve it slowly.

en.wikipedia.org/wiki/Superposition
en.wikipedia.org/wiki/Schrödinger's_cat
en.wikipedia.org/wiki/Martingale_(betting_system)
en.wikipedia.org/wiki/Compound_interest
en.wikipedia.org/wiki/Lysergic_acid_diethylamide
en.wikipedia.org/wiki/Calculator
en.wikipedia.org/wiki/Coffee

all you need

Lmao

>Few people actually make money daytrading.
Few? More like many
I never traded in my life but its so fucking easy with crypto due to its volatility

>Don't chase the prices, let the prices come to you.
Maker = high iq master race.
Taker = low iq animal.

>90% of traders lose 90% of their capital within 90 days
HOW!!??

I read this as the voice of sam hyde

Exactly the right approach, start small and keep at it. Always strive for simplicity over complexity. Some of the most successful trading models (in terms of sharpe ratio) were incredibly simple and kept only a limited amount of free variables. Simplicity also gets rid of many statistical biases, like overfitting, look-ahead bias, etc.

No there aren't. People who say day make money daytrading are larping. Only HTF bots make money daytrading because they have algorithms that balance their trades and they make money wherever the market goes.
Telling whether the price will go up or down in a short time frame (less that one day in this case) is impossible.
It's easy to make money trading if you know what to look for, and sometimes a few hours after you get in you're already in big gains but usually it takes a few days or weeks to let the chart do its moves and buy safely and it may also take days or weeks until it goes where you expect it, depending on what type of trades you make.

Most people have to lose money (should be way more than 50%, around 80 or 90) because the funds with algos and pumpimg make easily hundreds of thousands a year (or more) and exchanges take a lot on fees. The people who make ICO's and coins also make huge gains all the time. This is all funded by "daytraders" who keep losing hundreds of dollars each day like OP

Yes this. And Also use mfi and bollinger bands. Look at all the trends before making decisions; 1min to 1day. Also learn to read the candles and wicks properly. Good luck! Make mistakes and learn from them

You have got to be fishing for somebody to spill their system otherwise you have been trolled hard into believing day trading doesn't work. I guess, um, stay poor?

You can still trade and make good money, not just daytrading, wait for good charts to set up and make good percentages

If someone makes even 2% a day guaranteed, they will be millionaires in a few months (you can do the math). Don't tell me "daytraders" (maybe like yourself?) can't make those percentages and be all millionaires

You can do 1-2 percent daily for a while day trading but eventually you reach a point where you are moving the price so you can only trade very large volume coins thus diminishing your opportunities. It works for a while though just not to millions of dollars.

Bitcoin only trades 1 billion dollars every day, you can easily buy 30k or 40k at any given time at a lot of exchanges and put money on several exchanges. Keep larping

The only way to day trade Bitcoin and consistently make 1-2 percent is with a crystal ball so obviously that's not what I'm talking about. The only way that I've been able to pull the percentage off is with Bitcoin as well as altcoins and waiting for the right set-up. I usually see 10-20 opportunities a day and I go in 5-10 percent of my wad on each one. Some trades do well some don't but they average out to, you guessed it, 1-2 percent.

Protip: As I write this at 4:50 AM eastern time, go in on GRS/BTC at Bittrex. You will make at least 4% within an hour or two. Check back and see if I was wrong. When you see that I'm not and you figure out why, you'll know how to profitably day trade.

lol..you are a special kind of tard thinking chinks care about a gwilo who speaks mandarin

Just did the same off OMG. Only prob with GRS is volume. Good luck tyring to dump 1 btc worth at the same price

coins like ethereum haven't changed even 10% within 10 days which means you're going for shorter (maybe 5%) percentages which is acceptable for a shot time frame. So you could take your money, do two or three of those in a week between the easier trades your find (super easy), and make the same percentage for 1/10 of the work.
And if you trade everyday, several coins, you're very exposed to the markets. It means that in the last several days, since a lot of popular coins are losing or not moving against bitcoin, you're losing money. The purpose of trading is to not be exposed to the markets which defeats the purpose of daytrading

I do both. Actually I trade in as many time frames as I deem profitable. But since the thread is asking about day trading specifically, I was addressing that. My whole point was that it can be done. As an aside, I enjoy trading so I take small day trade positions to not get bored waiting for the longer stuff to come through. Then I pointed out a position in real time that if anybody had taken would be profitable right now. That's really about all I think needs to be said. You do you.

pivot points?

I pay attention to support but I don't specifically use pivot points as I don't consider the probability of success to be high enough.

Prob better off holding GRS as they've a fork in 5 days but yah. Hitting those small 50 vol market is ez 5-10% for sub 0.5btc.

I have 20% of my portfolio/ around 4btc just sitting in TAAS atm for its dividends and it holds well through heavy news cos no one gives a fuck about it lol

This guy gets it. For small accounts say under 30-40 thousand dollars, you can make bank just day trading crypto. After that, to keep growing, you have to transition to swing and position trading at a minimum. I get the impression that 40k is more than most bizraelis have seen in their lives so day trading is a very viable topic.

Crypto is literally gambling. It takes minutes to for developers to dump all of their premined coins on your ass so hodl isn't safe. Daytrading crypto is even more dangerous, a big green candle could just be followed by a bigger red candle and then daytraders would panic sell. You need a good bot for daytrading but the price isn't worth it as the bot can only handle small volumes. Just invest in stocks because even if your ROI is small, it is a guaranteed ROI with no NEGATIVES.

Start by understanding other derivatives. Then learn to hedge and arbitrage.

Speculation is just gambling.

I'd just like the record to reflect that as of 5:38 AM, GRS bounced past 4% just like I said it would. Hope you non-believers are taking notes. Hint: I do this all day e'ryday.

Appreciate your posts friend, thanks a lot!

Depends.
If bitcoin gets more mainstream use then it won't be the ponzi scheme it currently is.
It will obtain real value then. Making it just like any other market.

How long did it take for you to figure out how to trade properly?

Inside info or just good analysis?

I've been trading about 10 years. Started in penny stocks but that wasn't scammy enough so I got into crypto a while back. Much smaller market and the tools aren't as well developed but it's much easier to read a chart.
Haha. Thanks for the compliment. I just read the chart and do what it tells me. I won't give away my system but I'll say this, I don't use any meme lines, I rarely buy the rumor or sell the news. I just trade the chart as it is.