What are good day trading strategies if I have low capital (200USD)

Read 'The New Trading For a Living' by dr Elder.

/thread

put $150 into BTC, take the other $50 and research a promising coin that is cheap with a low market cap. Invest in it and hold until it reaches a return that you are happy with, sell it, put the profit into BTC, re-invest the $50 into another cheap coin. Rinse/repeat

Saved. Thank you.

Your stack will be big enough to slide inbetween the market movers without causing a hiccup, so you can easily position yourself to take a small cut on every slight move up or down.

Here's what I would do:

Go to a currency with some decent volatility but a comparatively small market cap. LINK is a good one but anything where you have long term confidence in the project works. It also needs to be listed on an exchange that is responsive and quick with low fees, so something like Binance. For the love of all that is holy stay the fuck away from Kraken!

Your job now is to flip your small stack from a buy to a sell as quickly as possible in the gap between the orders. On a volatile market that gap can be between 0.5 an 3% typically, although it will close up a fair bit when on a bear run.

Sit and watch the market for a bit. Look at the order books and identify the buy and sell walls. Look at the previous day of trading data and identify whether the market is currently stable, or if it's in an up or down swing.

Once you have that basic background info, set a buy order a little higher than the current buy using half your funds. Don't be scared of outbidding current bids by a fair amount. Your goal is not to get rich on any individual trade but to make lots of small profits that will, cumulatively, grow into something bigger. The key is speed of turnover, so getting a 0.5% margin every ten minutes is better than waiting an hour for a 2% margin opportunity.

Once your order fills, put it on sell, bearing in mind the same considerations. Rinse and repeat and that's your basics while the market is steady.

cont.

This is literally my plan. I call it "slow, but safe".

thanks, the PDF was the second result

cont.

Obviously, most of the time the market will be trending up or down slightly, even when steady on the macro picture. This is why you're only using half your stack at a time. Let's say you put a buy on at 4500 sats then sell at 4573, then put up another buy at 4513. As you're waiting for that second buy to fill the market bumps up a little. Now, if the standard buy order raises to, say 4550, you can just go with it. If it rise to 4600, though, you have an assessment to make. Is this the start of a big bump up or a small fluctuation. To make your determination, have a look at where the buy and sell walls are. If sells are looking thin at this price and medium to large walls have disappeared while big buys have stacked up, it's a reasonable bet things are going up further. If you decide things are going up further then cancel your buy order and see if you can buy from a low sell order before they get pushed up. Otherwise, just follow the momentum up, staying a bit ahead of the crowd and accepting smaller margins for speed of turnover.

If you decide this is a temporary bump then leave you buy order where it is and start working with the second half of your funds at the new price level. When the price comes back down it will fill your old order but there's no need to be idle in the meantime so keep working on flipping that margin.

The same applies in reverse when there is a dip and you have a sell up. Again, decide whether you want to follow it down or whether you want to leave the order in place and start playing with your second stack. The reason for splitting your stack like this is to insulate you from big changes. If you get things wrong, the damage is mitigated by only having half you stack out of sync with the movement and you always have a stack to trade with while waiting for the readjustment.

cont.

Buy low sell high

cont.

I've been playing around with a $500 dollar fund doing this for the last few weeks and I've found that with 2-3 active hours of trading a day you can add maybe 7-10% a day. Obviously, as you spend more time in a market you'll find the hours that are typically more active and more volatile, so you'll know what times work best to trade.

One big question you'll have to decide is how to store your funds outside active trading. If you are confident in a market rising long term, then your goal should be to accumulate as many of the tokens as possible and always sign off for the session with your money in tokens and no sell orders up. If you are not confident in a market long term then always end a session in USD or USDT. Basically, bank your gains in whatever you goal currency is.

This approach only works with relatively small stacks and in volatile, small markets. With bigger stack (anything over a 1k fund) you will start nudging the market around yourself and can't rely on sliding smoothly between the trends. In non-volatile markets the margins will be poor and the volume of transactions will be too low to compensate. In high market cap markets, bots will own those margins because there will be too much value in them to leave it to small time traders.

Hope this helps and good luck!

it's nice to see somebody on this board giving some real advice, rare find. thank you.

That is lower than low capital.

At that point, you need to go all in on several pumps and get out with a safe/conservative +X%.

You are not going to day trade your way to wealth with $200 without doing some extremely speculative shit. You'll be taking far too many shots this way and as with any trading strategy, you're going to miss some but your bankroll simply isn't big enough for this. You'll end up blowing your account up anyway.

Also, take what the market gives you at all times. Do not catch a falling knife unless you have the time horizon to wait out the recovery, which can be ages.

Are there any exchanges which let you do simulations? Like for instance simulate buys and sells to test your strategy? I was thinking about working on a bot to do this for me, but I'm not sure if there APIs available

>not sure if there APIs available
I've never seen an exchange without an API.

All in with 25x leverage for every trade with tight stops

stay the fuck away from kraken indeed, if ur just holding then fine but for actively trading is absolute shit.

Thanks, I'm fairly new to trading, I suppose like a lot of people trading cryptos my background is mostly comp sci, so I know how to do algorithms and shit so I want to put that knowledge to work maybe writing a small bot to detect market fluctuation and operate accordingly

buy a suit. take a shower. go find a job.

Wow a reply on Veeky Forums more in depth than >fucking normie

screencapped for the next newfag generation

Poker

That's clever

Honestly this if you only have 200 dollars.

this

nice try link thief

Compiled it for you fuckers

Learned the ways of the market playing EVE Online. It's basically a training simulator for crypto.

Thank you.

>quick with low fees, so something like Binance
There's also HitBTC with a 0.1% fee for taker and a rebate (meaning that instead of paying a fee, you get awarded for placing an order) for market making. They have a lot of markets, too (257 at the moment, nearly as much as Bittrex (263)).
If you want to register, you can do so from my referral link: hitbtc.com/?ref_id=59d619a24e104

Not bad, can you apply studies other than the EMAs and the DC to the graph?

Not in-game but lots of people do stuff like that using api pulls. Personally I've always stayed away from TA and either gone for rapid turnover trading or speculated on sentiment and hype or fundamentals but lots of people take other approaches. The markets in EVE are brutal because they are unregulated and driven by manipulation, so they provide an interesting parallel to the current state of crypto.

>rapid turnover trading
What's that?

Not everyone lives in USA, baka.

Fascinating..

From personal experience, how much profit did you make from this method quarterly?

thanks user

Damn there's been advice that's not just shit in this thread. Thank you smart posters.
I'm just getting into crypto too and have been reading a fuck ton of stuff.
Think I'm waiting for what looks like btc dip then allocate 1k to these meme coins. Maybe like 900 btc and 100 to an alt or two then 50 bucks a week into whatever I decide as I keep following things.

What's this called? Can I find a video on this?

I downloaded it to my phone so I don't have to worry there.

buy shitcoins that are being accumulated and are very volatile (it's hard to describe in words, just look at some charts of pumps), preferably on bittrex. Now it's a good time to get in, as an example check out GEO, there are many others (I don't know which ones will pump just look for candidates). Buy one and keep monitoring a bunch. Wait until you double your money and do it again, doing it correctly you'll have like $2000 in a couple of months and you can keep doing it as long as there's enough liquidity.

This is not a daytrading strategy, you just buy and leave it possible for weeks. If you want daytrading follow the advice of others, however, you will probably need more starting capital and way more time spent (in my method you just monitor until it's time to sell)

been doing this exact strategy for a couple days now with a small portion I set aside to learn daytrading. Added 200 LINK to my pile. not much but fuck it.

gonna keep doing it

Just what I call the sort of ghetto pseudo-high frequency trading I described in the posts earlier in the thread. Don't know if it has a 'proper' name but basically prioritising speed over margin in flipping your orders, using the high volume of trades to make an incrementally increasing return.

I'm not sure what it would make quarterly as I just dabble a bit for fun. The thing is, it only works with small stacks so the returns aren't scaleable, which makes it a fun activity but not one that it's economically viable for me to replace gainful employment with. In the right market, I would estimate someone doing this full-time (6-7 hours a day - and it does take full-time attention when active) could easily make $100 dollars a day with a $500 start-up stake, scaling up efficiently until $1000 stake and then diminishing as a daily % as your pot grows after that.

OP, here's your plan:
>buy $200 ounce of pharmaceutical grade marijuana
>break it up into sixty dimebags
>sell them all individually for a total gross of $600 ($400 net)
>you just tripled your money in a few days
>repeat operation as many times as required to accumulate your desired stack size (investing some of your profits into more product so you can get there faster)

It's like people want to stay poor.

200 USD? Are you in middle school?

Very fair, that. It's probably more profitable to stick to day trading then. Better prospects in diversifying larger amounts of capital

If you have a decent chunk of change for trading then yes, I would think so. This answer was specifically tailored for OP's situation. That said, I'm now wondering how far it could be pushed. With a reasonable level of attention you could probably keep two or three different markets active at a time, and while things don't scale linearly beyond about 1k the returns on the extra don't drop off a cliff either. It would be interesting to experiment with 1.5k in each of three markets at the same time. You might be able to push for something like $750 dollars a day if everything works out smoothly and you can hold your focus with your attention split three ways. I suspect it would be quite tiring, though.