I read more and more about day trading here. Serious question to anons who do it, how many % do make per day on average? Is it really more viable than holding? I'm tempted to do it, but I don't want to make uninformed decisions and lose on my gains.
Also what is the best things to trade and what are some general tips?
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Last 24 hours my entire portfolio went up by ~120%
It's all dependent on how good of a trader you are and how good your instincts are.
bigger testicles, bigger gains
You'll hear a lot of retards here. They're wrong. They'll chase pumps but sell too early or buy too late to maximize profits. And they'll say "3 months is forever in muh crypto!"
Pick a real project. Hold for 2 years. If you put $1000 into almost any of them in Jan 2016, you'd be loaded now. For example, $1000 would have let you put 2 btc into NXS, and it would have been worth 540 btc at its most recent peak.
Try to get about 5% increase in btc value each trade. Don't get greedy and have a stop loss.
Daytrading done right shits on holding. Daytrading done wrong is literally burning money. Also you need to invest a lot of time and watch the market constantly. I don't know about other anons but I think 10-30% is realistic. I make between 3-7% on hour scale ETH/USD bounces.
This.
OP statistically speaking 90-95% of daytraders fail to be consistently profitable. Only 5-10% of the population is, and you're not it. The types of people who do make profit are either whales or they study chart patterns and price behavior autistically. It takes many many months, sometimes years to learn how to trade right
Can you point me to any good resources I could read about day trading? I think I'm autistic enough and I have tons free time to research and look at charts.
answer this first;
where are day traders ultimately getting their profits from?
I'm going to do this with 20% instead of five.
I do what this dude does and it's working great.
youtube.com/watch?v=vgcFe_XO_LQ
Trading coins is easy, most prople are normals.
I make 10% a day. Works out to 1283305580313351% per year so I'm gonna be rich soon.
That's the right attitude to lose a lot of money.
20% target per trade with a 10% stop loss on a bull market doesn't sound like a bad idea to me.
Link doesn't work
Thanks breh. Kind of apprehensive about following a youtubers advice on this kind of thing but I will check I out.
The link worked for me. Try this.
I know, but that guy knows his shit and explains it really intuitively. Just watch it and judge for yourself.
Holy fuck, this almost seems too easy.
there is nothing I want more than to learn how to day trade and make say %5 profits a day
can one of you successful guys point me in the right direction? any textbooks or the like? thanks
Download some pink wojacks and remember all the anons who told you told just buy top 10 coins and a small sample of random shitcoins and wait as you piss away your money and wonder how you could be so fucking stupid to compete vs whales and bots.
You don't day trade shitcoins, you idiot.
Ehm... yes you do. How else do you increase the size of your BTC?
I went +30% on POWR and then +70% on IOTA for example.
Buy low, sell high
That's swing trading, my nigga.
>5% profit a day
Lmao
cryptos are on a bullrun it's hard not to make money.
Ah. I thought it was the same.. I believe many other anons do too.
So only difference is that you close all markets before you go to bed to eliminate risk?
5% is already insane. If you invest 100 bucks and make 5% per day you'll be at a million in half a year.
I dont daytrade, but I tend to make a couple of trades each week. Since I have started doing that i have 2x my portfolio in under two weeks. Not as good as other people on here but I am happy with it.
The difference is that my profit doesn't come from growth but from fluctuation.
well yeah, that's how get rich quick scheme's generally operate.
Where's the scheme?
crypto exchanges make more money from exchange fees the more people frenzy.
they're basically the house in a casino while everybody discuses how to get an edge in poker. I wouldn't be surprised if some of these youtube day trading "experts" are just exchange shills drumming up business
- Daytrade only high volume coin so TA gives you a good approximation
- Monitor long-term trends and try to find a channel if it exists
- Monitor btc movements, the intraday trend and try to find a correlation to the coin you're trading. The most tradable coins have retained btc value amidst the rampant btc growth
- Ask yourself is there any upcoming important news, updates or fud that changes the coin's fundamental 'value'
Can you do all of the above? Then you can profitably daytrade; remember you can't win every trade - so cut losses fast on losers. Place orders either upon long-term trend breakouts with high volume or on support levels.Do not trade for the sake of trading.
And if you don't know every technique this tuber uses - then don't try to be smart; you need to read up more. You will probably beat 90% of the daytraders simply by hodling.
>cutting losses
this is why you lose money. Chad daytrader NEVER cuts losses. You can't lose if you don't sell. All you have to do is buy BTC and trade BTC. as long as you're holding BTC, you never have to cut losses, because it always goes up, moron. the most established coin, highest market cap and trade volume, the only con known by boomers, normies and chads. as long as you hold it after a trade, you cannot lose. keep the USD profit on the side to either cash out or buy the dip (chad only buys the dip with it).
Daytrading and swingtrading are the quickest way to make gains if done right. Don't trade blindly, chat with us and keep reading up on coins and events @ discord.gg
Then CHAD is an investor not a trader. Learn the difference.
>Do not trade for the sake of trading.
This is a big one a lot of scrubs dick themselves because they jump into every dip.
Great idea, bro. I'll just wait a couple of hours or days to avoid a loss that I could earn back and then some on the next bounce.
Best. Channel. ever. Really good advice for any starter here, just don't trade between cryptos, this technique will not work if BTC suddenly moves, only against Tether/fiat
oh consumers....
>doesn't want to make uninformed decisions
>asks Veeky Forums for advice
Ballsy as fuck. Don't worry, you got what it takes.
That guy is a fraud. Have fun catching the falling knife, I mean layering. Lol.
If you watch this guy's videos you will lose all your money. He tells you to keep buying when a coin is dropping. This is called catching a falling knife. It works until the time it doesn't at which point you lose all your gains and then some. If you follow this fraud's advice your will revert it bizbros