Daytrading general

Hello richkids

I want to get into daytrading but dont know where to start.
I am willing to invest as much time as it takes, to make mistakes (e.g. loose money) and to improve myself.

Also daytrading genreal threat

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stockhouse.com/companies/quote?symbol=c.qbot
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How about you start fucking yourself and when youre at it kys

Watch penny stock traders & crypto traders and learn yourself faggot.

Step 1: Look for heavy ripples/arguments in ethereum's hourly chart.
Step 2: Wait for the price to go below the ripples.
Step 3: Start buying as everyone panic sells
Step 4: Sell on the way back up.

Daytrading any other coin is dumb and you're gonna get dumped on. These markets are still way too small and vulnerable.

This. Youtube is a good resource for tutorials.

One lesson it took me a while to learn is to avoid stocks that don't get a lot of trading volume. The chart may look good, even the company might be decent, but none of that helps when nobody is trading the thing. With momentum trading, you want maximum volume and maximum volatility.

You cant be sure youll be able to sell at the right moment. Right?

Right. Low volume, at least in my experience, makes a stock less predictable.

See here, take this stock for example:

stockhouse.com/companies/quote?symbol=c.qbot

This is one I missed the boat on yesterday (put buy bid in too low and also a few minutes too late to catch bottom of the drop). That sharp volatility is the good stuff. Take a look at what happened on December 8th. It went from 1.80 to 1.30, back up to 1.70, back down to 1.45, and then back up again to 1.74. If I had caught it in time, I would have placed a buy order for the 1.30's, sold at 1.75, bought back in at 1.45, and then sold again just before close at 1.75. That's nice money for a couple trades over two or three hours time.

I can see that. How do you know that the price is going to move that rapidly?
Are you just on suicide watch on stocks that are volatile and buy/sell at the right moment?

Total dumb luck. It was on my watchlist and I happened to glance at it that morning. I had no idea it was going to behave like that. I thought it would drop some from the 1.80 high but not that much, or that it would recover that fast.

But was there no specific strategy involved?
Then how can i predict price spikes?

Ah, see that's where research and youtube tutorials and the like come in. Chart analysis, trends, relative strength index, etc etc. Sometimes you know a stock will shoot up fast because there was a good news story about it the previous evening, or drop because of bad news for that matter, but that isn't always the case. Checking the news is the reason I missed the timing on that one. I wanted to know if there was an actual reason it dropped that far that fast; if there had been I would have concluded the stock would not recover quickly, or at all, and left it alone. Turns out there was no reason, just market volatility doing its thing.

With stocks you have to actually pay to see the bids/asks. I would daytrade crypto instead, since exchanges provide that data for free.

Ok thank you then this i will be where I start.
I have been reading up on long term investment strategies and juts like with them information seems to be the most important factor. Just in another, more short term oriented way.
Chart analysis will be new to me though.

If you want to day trade I highly suggest looking into forex, it's worth the look
>T. Forex trader making a comfy K each month trading
It's a sharp learning curve, but keep at it

Where should i start on that topic?
Or rather where did you start?

its alot to process and theres no right way, itll be overwhelming, but here are some pointers
>download metatrader4 ( MT4 as we call it) just start fucking around in it, get comfy.
>get in the community, for me personally, im a podcast and book guy, so here are some reccomendations
Podcast- 2 traders podcast (these 2 guys are great, cover alot of topics, when you first start listening open google and google any term they say that you dont recognize)
52 traders (interview a new trader every week, itll help you ge tinsight and comfy
chat with traders (more interviews)
books- trading for a living
the new market wizards
trading in the zone
forex trading:the bible
google each one and read for yourself
thatll get you started, also youtube alot, learn strategies, there are 1000 out there, all work, but you need to find which works for you, after you have the basics of MT4 down and know some terminology google stuff like
Bollinger band forex strategy (the current strategy i use)
Donchain channel strategy
RSI
mean reversal strategy
Trend forex strategy.
thatll get you started, anymore questions while im here?

also, MT4 isent the be all end all for trading platforms, if you hate it try MT5 (updated but not better imo) ThinkOrSwim, and other platforms, they are a dime a dozen, most either use Mt4, Mt5, or ThinkOrSwim
best advice is to get into it man, eat breath and shit forex, itll be hard, youll lose alot of time and money at first (dont open a real account either until you double your demo account money) but itll be worth it my friend

Yes one last one and then im ill be gone as well.
Do you know of common mistakes newfags tend to make?

Buy MUSICOIN now at the all-time low and sell whenever you are satisfied with your gain (most probably around +30% daily return)

Another thing tho.
This 2 traders podcast.
Is it legit? It has like >100 views on youtube.

you might not understand all this, so screenshot it man, but here are some that come to mind
too tight stop losses (meaning you dont let your trades go down at all)
too tight target profits (meaning you cut a winning trade off early becuase your scared itll go back down)
accept that your gonna lose, nobody wins every trade, most succesful daytraders only have a 40% win ratio, the way they make money though is thier winners are bigger than losers(say they win 40% of the time, but thier average loser is 100 bucks whie the average winner is 500)
dont expect to get rich quick
when you think you know where the markets are going and feel your good enough to trade live money, DONT. do not trade real money until you double one demo account, 2 or 3 if possible
be patient, if this shit we're easy everyone would do it
stick to the rules of your strategy, DO NOT BREAK THE RULES, look up the turtle traders, they stuck to the rules religiously, lost a decent amount of money the first 2 years but each has made millions and millions by sticking robotically to thier strategy

it is, not alot of people watch them, its good though, they dont give you exact strategies and winning things, its not a get rich ticket, but just listen to them, itll open you up to forex, humanize it almost, they wont tell you how to trade, or where to what, but just listen to them, just absorb it. listening to them is worth it trust me

Thank you this will help me alot.
I am screenshoting this entire thing and will look into it when i need to.

thanks for this friend