IAMA Trader

I don't know. (again, i'd rather not say nor pretend to know or lie to you).
Again, i only enter the market when the odds are on my side. I'm not a long term trader...In and out on same day. Sometimes i hold my trades for 2 or 3 days max. (but rarely).
I'm not an analyst..I just trade the technical side. (i.e. Look for key occasions on my charts to quickly make money and exit.

Opinion on crypto?

Cool stuff. Been using a demo account for a while now, mostly commodities; what's your favorite platform and broker to use nowadays? Leaning towards Ninjatrader right now for if/when I start it for real, but if you know of some other reliable broker with even lower commissions, I'm all ears.

What was your initial experiences like, did you end up losing much before turning profitable? What would you say is the minimum recommended amount to first start out with (given that most brokers let you open accts with way too little money, just another noob trap).

>Is it possible to train a model to predict cryptocurrency? I don't need it 100% accurate, only to make profit.
Rest assured...there's no such thing as 100% accurate. Though i do this stuff for a living, i also get it wrong. I'm generally 60 to 80% right. (most of the time).yet i'll never be insane enough to put my entire bank account on the line.

Trading cryptocurrencies is the same as trading everything else...It's just a question of supply and demand.

I personally don't use indicators, (i trade naked on my charts). Sorry i don't know anyone for what you're asking.

>Opinion on crypto?
I don't trade options. I mostly trade currencies

If you do this stuff by hand, do you want to automate it using machine learning? It can track multiple graphs simultaneously and react better than human.

>what's your favorite platform and broker to use nowadays?
Broker is Oanda and admiral markets. I used their platform. Makes little difference to me

Next big coin? Are you balls deep in OmiseGo?

>What would you say is the minimum recommended amount to first start out with (given that most brokers let you open accts with way too little money, just another noob trap).
It all depends on your ROI. (your return).
Some people can double a 10K account in 3months , others in less than that...Others are happy doubling their account after a year or two.

You should start small though. Demo and real ccount is very different. (well , it's the same chart but your emotions will betray you)

>If you do this stuff by hand, do you want to automate it using machine learning? It can track multiple graphs simultaneously and react better than human.

I'm not sure i fully understand your question. But what i usually do is wake up early (before the market opens), look up my charts, look at key zones and then i just wait for price to reach my key zones...and see what price is doing once it reaches these zones...Then if price reacts the way i want, i enter the market..

Yes, I am asking you do you want to automate it - so that you don't need to spot the trend on your own, but computer to tell you on which graphs that trend occurs. It can be done using machine learning.

I've blown up ~3 accounts, totaling maybe a 15k loss altogether.

My biggest issue is not waiting for the 'perfect setup' and wanting in every single day. How'd you overcome this?

>Yes, I am asking you do you want to automate it
No, nothing i do is done automatically, i don't use bots or indicators, all by hand...my indicator is my eyes...I took me about 3 or 4 years to be able to spot key zones , but i'm pretty comfortable now. That's all i use, just my eyes and personal judgement.

I don't trade "trends"...I enter quickly and exit as fast as possible.

If you wish to discuss this in private, shoot me email at [email protected] (throwaway). We can setup skype call.

>I've blown up ~3 accounts, totaling maybe a 15k loss altogether.
I personally waited 4 years before trading real money. (back then, when i first discovered trading and took it seriously)...
I've never blown a single account.

How to overcome ? Well, here is the thing...If you're blowing accounts after accounts, it generally means that you're lying to yourself. It means that you're trading scared or that you simply don't know how to read price movement.

The best way to overcome fear of losing money is to practice over and over again...Until you get it right. That's what i did. Execpt i was being honest with myself...I wasn't pretending to know what i was doing...So each time i would lose on demo, i tried to understand why. Then i was also helped by other traders . (people who also traded for a living).

Sorry but i don't teach how to trade. What i do is more or less similar to this...
(not my chart, but this trader has a very similar style than mine)

I honestly feel like I could make money if I could just stop getting 'bored' and throwing trash trades around.

I have gone making 10% a week with a risk of < 1% for months, but fuck it up when there's nothing to do.

During those times, do you just stay out of the market?

What would you say is the best way to master trading? i.e. is it to study it and read books, or, paper trade something like forex until you start becoming profitable?

Have you noticed anything out of the ordinary lately? If so, what?

>I honestly feel like I could make money if I could just stop getting 'bored' and throwing trash trades around.
>I have gone making 10% a week with a risk of < 1% for months, but fuck it up when there's nothing to do.
>During those times, do you just stay out of the market?

If the market doesn't meet my specific conditions, then i simply don't trade...I wait. Sometimes i get 4 or 7 trade opportunities the same day....Other times only 2 or 1...somtimes zero.

I treat it like a business not gambling so i'm picky about my entries.

Last question, what's your stop loss?

>You should start small though. Demo and real ccount is very different. (well , it's the same chart but your emotions will betray you)

Yeah I'm well aware that the psychology of it all changes entirely once it's your actual money on the line. I'm in no hurry to get away from demo though, live feed demo is still useful for getting at least a bit of a feel for the markets, and (back)testing your method. To me at least it seems like 2500-3000€ would be the sweet spot to start with; not so much that losing it all would really hurt you, but enough that you have at least a bit of a buffer against a string of bad trades and not instantly get rekt by margin calls.

Roughly how many hours on average would you say you use on trading each week? I'd honestly be fine with making less money than I'm making now if it meant more time for myself.

>What would you say is the best way to master trading? i.e. is it to study it and read books, or, paper trade something like forex until you start becoming profitable?

I never read books, my way to become profitable was to be obsessed by it. I just kept looking over the shoulders of people who knew how to trade. That, plus trying to understand as much as i could for my mistakes...Learn from my mistakes, and it's only when i was able to predict where price was going ...about 70 or 80% of the time, that i started trading real money. But i first had to prove myself on demo.

Demo is good for practice, but it's also bad for your psyche...it'll give you false confidance...

You can be surprised and do 10 or 50K on demo and then lose it all on real account.

Many beginers do the same mistakes... I avoided it by practicing for about 3 or 4 years , non stop

Some people become pros at call of duty online...I did the same, Like a video game only i make money while doing it :) It's not the most fun game, but it's not a complete waste of time.

>Have you noticed anything out of the ordinary lately? If so, what?
You mean like bubbles ? Yes, but i don't worry about these things...

>Last question, what's your stop loss?
I don't think i understand your question...
Yes i use a very tight stop loss (with a bit of buffer depending on the spread)

You have experience, I have technical knowledge. If you show me where the trend is, I can create automatic detection of it using AI. If model works, you will profit, me as well. Entrepreneur spirit?

How many pips/points or %?

If it's not < 1%, how can you live w/ yourself? :p

>Roughly how many hours on average would you say you use on trading each week?
There's weeks when i have sleepless nights. (because i trade the australian and Asian market)...Sometimes i only trade normal hours, again, it all depends on what the chart is showing me. Sometimes i have entire afternoons free for myself...Other times, i look at the chart like a hawk.

Please explain this chart.

When your stock underperforms and dips what do you do? Hold it or sell it ASAP for a loss?

How do you deal with suffocating brokerage fees?

I already made the that mistake, how did you learn to read markets? TA seems like a load of bs?

>You have experience, I have technical knowledge. If you show me where the trend is,
Haha...Thanks but i'll pass. Also, like i said above, i don't actually trade "trends". Never do.

I sometimes use them on higher time frames but only to give me a bit of direction on lower time frame opportunities.. The best i can do for you is give you some traders you can follow and learn from them.

But then again, trading is a special business because it can be very subjective to some. A method can work wonders for one individual , but fail miserably for another..

Why aren't you investing in crypto for those massive gains?

How would you define stock trading and the stockmarket in one sentence? (As in: what is it really? What's hidden behind the numbers?)

I have my own view but it would be interesting to hear what you have to say.

>How many pips/points or %?
>If it's not < 1%, how can you live w/ yourself? :p

Not sure what you're asking. How much percentage i make per trades ? (return?)... It depends... But my trades always have a high R/R in my plan. (risk to reward). I don't enter a trade if my reward is lower than my risk.

If i jeopardize 50 euros or 500 euros, i expect to have two or three times that return...If 500 is on the line, then i want a target reasonable enough to double or triple that amount.

>How do you deal with suffocating brokerage fees?
Don't over trade...or else you'll pay too much commissions. Plus it's completely useless. Just be patient, wait for the best opportunities, that way, you pay minimum comissions.

If you trade 10 or 20 times per day, you'll pay a lot of comission + you'll have to take into account your potential losers. Better to only trade 2 or 4 times...it's enough.
I know a guy who only trades 5 or 6 times per months... and still makes good money. (but i don't have the patience for it)

Such algorithms don't work too well and no matter what anybody says, you can't model market behavior to a confident enough degree. When you do, it becomes a new standard and the market adapts.
There are literally hundreds of thousands of talented and skilled analysts shitting out algorithms with unbelievable amount of financial backing and they are all varying degrees of failures.
I mean you have to be a literal Einstein-tier genius both well-versed in literature, math and intuition to be able to create a working and usable market model from scratch. But even then you will only be able to reap its benefits for a few years.

>TA seems like a load of bs?
It is... It's garbage for the most part.
Indicators are useless..
I only trade supply and demand. (it's still considered as technical analysis though)...
But the reality is that 90% of the stuff you see online is bullshit...

Having said that, some people are able to make very good money only using harmonics patterns. (i don't do that btw)...But it works for them. I only trade when i see imbalance on my chart. I wait for traders to be "trapped". When i see that bulls (or bears) are trapped in a position, then i enter the opposit position and take advantage of the situation.

People always do the same mistakes over and over , all week, months every year..

>Why aren't you investing in crypto for those massive gains?
I'm mostly focused on forex market. I guess because i'm used to it even though i can trade anything desu. (supply and demand works on every market)

>How would you define stock trading and the stockmarket in one sentence? (As in: what is it really? What's hidden behind the numbers?)

It's all fake. What makes price move is ultimately supply/demand but big banks move price where they want to go...So it's not a fair game, it's all fixed...

But it's not a bad thing because once you can spot traps, then you just go with the flow and take advantage of these opportunities

Is it an open secret in your industry that Jew's control the market?

go back to zerohedge newfag

Any trader-to-be should watch this first:
youtube.com/watch?v=L7G0OfJUON8

I know he also got his own agenda, disregard his sale pitch and just check out the information.

Saves you falling for stupid online educators who only want to lure to a broker platform. Trading anything takes a lot of time and you need a proper understand of the money markets. You need to know who is controlling what, why most traders lose and what you can do to not fail.

>When you do, it becomes a new standard and the market adapts.

That's why using indicators is a bit stupid. (imo) You consantly have to adjust...Not to mention a strategy can work for maybe 6months..or 2 years...then one day it becomes irrelevant..it doesn't work anymore.

So you constantly have to re-new your approach. Having said that, i don't worry about these things too much since i don't use any indicators anyway. My style of trading works now and will work 5 or 10 years from now...
It works all the time. You can even test it on old charts from the 80's, 90's 60's...it's always the same thing.

Once you're used to it. (i.e. reading charts) it becomes like a second nature.

COMEX/NYMEX (CME group) and CBOE control everything. Basically a duopoly.

When are my ODP JAN '19 $4.50 Calls going to get itm?

>Is it an open secret in your industry that Jew's control the market?

No need for an ashkenazi IQ to trade correctly imo. You mean in general ? Big banks ? Believe it or not, it's not just jews... Just very cynical and pragmatic people with no remorse...

Take me for example...I've once watched Molyneux say that us traders were a plague. That we don't produce anything and steal money from honest people...that we gamble and are no good..

Who's right and who's wrong ?...
In the end, it's not my fault if people are too fucking stupid not to take advantage of golden opportunities to make money..Also, my own money is also on the line, so it's not like take zero risks. Plus, this money is uses for other things, i invest in different projects, not just my personal ones. It's a business like any other..

Molyneux is essentially doing the same, parroting the same shit while taking money/donations. I'm kind off topic but...

I'm poor and I hate my job. How much do you make a year and how can I do it? I'm willing to work hard.

First task, find out what you want to trade; options, futures, currency, commodities or equities.

You can make unlimited amounts of money if you want. But you need to build your trading account first. So you could be a millionaire on paper but still live at home. If you chase the money you'll end up broke real quick.

>I know he also got his own agenda
This guy is a joke...I love him. He's almost as much of a bullshit artist as Jordan Belfort. Funny guy...There's some truths in some of the things he says, but ultimately his business is to convince you to learn from him. (and take your money while doing it)
People who "teach" are generally not good at trading... Admitedly, in some cases...There's "teachers" who aren't completely full of shit. And do know what they're doing. But they don't trade because they don' have the guts to do what they teach when real money is on the line.

Most of it is dodgy though...

Ethereum.

I don't trade options

no. if they weren't making money off you then they wouldn't be offering it to you.

Great advice thanks. Can you tell us how much per year you are making now that you know what you are doing? How much did you make your first year while you were still learning?

BUY BRIT FUCK EU

>then again some people just think it's gambling and nothing else
That's true though

>I'm poor and I hate my job. How much do you make a year and how can I do it? I'm willing to work hard.
Six figures... But when i started i wasn't trading with my own money. So i had a bit of help. If you're looking to become rich in short time you're going to be disappointed.

My suggestion is to lear how to trade correctly...Once you do. Once you understand what is going on in front of your chart, show what you're capable of. Show your returns...If people see that you have solid returns, you'll have many who'll give you money to trade for them.

That's what happened to me. I trade accounts for my friends. I don't lose their money, they give me a percentage, + i also trade on my own account. The best way to learn how to trade is to praftice and to know who you are.

Your personality. Some methods don't fit certain personalities.. Personally, i tried harmonics, fibs, divergences..indicators etc...None of that worked for me. But maybe it'll work for you.

I invest a little on the side mostly blue chippers. What should i be adding to my portfolio today to make some money in a one month period?

>That's true though
It depends...
I don't think it can just be labeled as pure "gambling"... Gambling for me is going to a casino, playing roulette, black jack, poker...things like that.

Trading for me, is essentially about risk management. That's my business.

The problem is that 95% of people don't care about risk management, they want to know how to make money, how much and how fast they can do it...

But if you don't treat it like a serious business, then you'll just blow accounts after accounts...

>I invest a little on the side mostly blue chippers. What should i be adding to my portfolio today to make some money in a one month period?
Sorry Leaf, i don't trade stocks...And any suggestions would be useless as i'm a short term trading. So my opportunities come and go very fast. I never take positions that last several weeks...Just hours, sometimes minutes..rarely 2 or 3 days.

what do you eat for breakfast, and is it coffee in a bowel and 10 goloiuses?

How do i learn to do that? My bisiness is seasonal and i have free time in the winter, What should i read into?

>what do you eat for breakfast, and is it coffee in a bowel and 10 goloiuses?
Pastas, sometimes avocado + Romaneso, and eggs, salmon..things like that...Sometimes just regular croissant + coffee

>My bisiness is seasonal and i have free time in the winter, What should i read into?

The best way to learn is to practice...If you don't know where to start, go to forexfactory or babypips

What was your most profitable/best trade?

>Romaneso
what's that thing where they(nous) put a whole half(demi) of cheese(fromage) under(avec) a(une) grill thing then scrape it off, loooks amazing

Thanks bro i have been thinking about how to maximize my free time in the off season. Will look into it

I don't remember...But i had a good trade last week. Risked 100 euro and made 940 euro

But i'm satisfied with low risk and small returns..I'd rather make 50 or 100 euros, 5 or 6 times per day, and it'll be the same for me. i'm happy to make 500 by compounding several small trades.

so you just sit at home and make a living trading?

>what's that thing where they(nous)
they is "ils" nous is "us"
I'm not sure what you're talking about though.

>Thanks bro i have been thinking about how to maximize my free time in the off season. Will look into it
Don't fall into a vicious cicle though. (i.e. your learn one method..You see that it doesn't work, then you pick another method..and so on..you go from method to method, and you don't stick to one that suits you...You'll end up going crazy.)

There' s a nice trading who teaches for free online. completely free.
He's a legit, full time trader. (with kidz and family...that's really how he makes a living)
Maybe that'll help you.
Here's his channel
youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w/videos

PS/ I DON'T TRADE LIKE THAT BTW.. But he's legit.

Yeah usually i grow my money by owning stock, blue chippers and collecting dividends. But id like to take a littl bit and try to learn some day trading stuff to make my time more productive in the slow seasons. Ill have a look at this guy. Im serious about learning properly it would be nice to make some real money on off days, and im willing to put the time and effort in to learning the right way.

>so you just sit at home and make a living trading?
yes. Sometimes i trade from someone else's home..Depends, but mostly in my home
I don't trade for a bank or anything.

grilled cheese?

Is it possible for you to lose everything?

>they is "ils" nous is "us"
aah, just making une effort

it's a big cheese wheel sliced in half, then put cut side up in a holder and an electric heater(like for a big rotaty kebab thing, but horizontal rather than vertical) that melts the top few cm of cheese, then they get a knife and scrape the melted cheese over the dish, or bread

posh french grilled cheese scraped over stuff

ooh la la, hon he hon

probly been replaced with kebab and aids now

I know what you meant, but I had the mental image of you breaking in to people's homes to trade on their computers and it made me chuckle.

Have you beat an index fund over a long period of time?

>Yeah usually i grow my money by owning stock
Yeah, i never do that. (and like i said above, i also never trade options). I'm sure some people make a lot of money doing these things but it's just that it doesn't fit my personality. I'm not comfortable trading options or holding positions for too long. I like quick results.
In and out. I knew a guy who was ok holding a trade for+ 4 or 6months...I can't do that, it would psychologically crush me.

Yeah anyway, that guy is as legit as it gets. (but again, i don't trade the way he does). But rest assured, he's not selling anything. he does live sessions to, if you sub to his channel you can ask him questions for free while he's streaming. he's been doing doing that for years.
I never understood why he even bothered doing such a thing...But he just loves teaching others..

How many bitbeans you hodling, senpai?

>Is it possible for you to lose everything?
Of course...anything is possible. (if there's a flash crash...Like this (see image attached)

But again...I don't have sleepless nights because of such scenarios...That's why you don't put all your eggs in the same basket. That's why you trade with several brokers (i use two different brokers). And i'm not insane enough to put all my money in the market...No need for it.

And if a crazy crash happens, no big deal, i'll recup my money in short time.

Currently reading encyclopedia of chart patterns, to try and get an idea of what the fuck I'm even looking at.

Is it legit? I can't see half the patterns he points, and often I see ones that he doesn't

Is getting an economics degree a good way to get into this field?

>une effort
"un" not "une". :)
Maybe you're talking about Croque monsieur ?

>I know what you meant, but I had the mental image of you breaking in to people's homes to trade on their computers and it made me chuckle.
Haha....No need. I'm already in charge of several accounts anyway.

aah

is it called bricolette, or maybe racqlette?

ah yes my dear, quite pungent

en.wikipedia.org/wiki/Raclette

chekkked

>Is getting an economics degree a good way to get into this field?
no need...Unless maybe if you want to be a chart analyst. But that's something completely different. I don't do that.
You don't need to be a genius to trade correctly..You only need to have pure determination, a strong will...not give up, and be passionate about it.

Some people have this for Chess, Video games, Poker online...etc... Trading is no different.

The only annoying thing about trading is that it's unfortunately filled with people who want to rip your money off, fake teachers, fake "good guys"...(always be extremely suspicious of brokers who want to "teach" you how to trade)...

why the fuck is it called mr crunch?

>Currently reading encyclopedia of chart patterns, to try and get an idea of what the fuck I'm even looking at.
>Is it legit? I can't see half the patterns he points, and often I see ones that he doesn't
any links ? pictures ?

It can be very subjective..for me it certainly was for the first year or so..

What kind of technicals do you use?

Who is your broker?

T. Trader