Realistically speaking, what it's stopping one from watching the market over the day and making 1-2 safe trades per day making like 3-5% per day and then turning nothing into millions in like half a year?
Is it not viable or is the craze just not old enough for enough people to have done so yet?
try it out, it never works
If it were that simple everyone here would be rich
Oh golly gee that sounds really easy when you put it that way, no one ever thought of doing that. Yeah totally this crypto craze is so new, basically started last month, go ahead, give it a go.
Because it’s hard especially with all the retards FOMO and then not being able to hit your entry and exit plan
mfw I tried and was up like 20%
Fucked up one trade and now I'm 5% down
unless you are the luckiest motherfucker alive, it's always better to just hodl
Where does it fail? Look at ETH for example. Every single break of a support line bounces and even if not, the value still rises.
Hurr fucking durr, faggot. I know there is a hook, otherwise everybody here would be a millionaire. Which is WHY I AM FUCKING ASKING WHERE THE PROBLEM IS?!
Instead of tens of thousands of these safe trades you just need just two 100x or 10x depending on how much you start with
yeah its call daytrading and you have to sit behind the desk 8 hours a day catching this 1-2 safe trades which will basically makes it wagecucking
You become a millionaire by either holding over 1 year or making risky trades
Some get lucky and end up hopping on every FOMO wave to the tops.
It's like changing lanes in traffic, sometimes you get way ahead, other times the lane you move into comes to a stop
You lose a little bit all the time because of fees and you also expose yourself all the time, making it easier for people to steal your money.
WOrks in a bull. Till you realise that instead of buying at 1200, selling at 1400, rebuying at 1550 to sell at 1700, then rebuying at 2100 to sell at a loss for 2000. You would have been better off hodling.
Also 2-3% gains means your stack needs to be reasonbly sized for it to be worth your time. Call it a 6 k USD stack minimum. You'll have to go near medium markets, as shit coin microcaps price will fluctuate with that level of influx.
DESU ive just been switching bt ltc, eth, neo the past few days. been ez but I know its not for ever.
Honestly I did a bit of that and I made about $2,000. But at some point the risk is way too high and luckily I got out before I made a huge mistake. Just holding Bitcoin ion to the trifecta of monero litecoin and ethereum will give you steady gains so I would suggest just holding on to them and you will make it.
>You lose a little bit all the time because of fees
Which is negligible unless you're trading on fucking coinbase
it's best to try and experience it yourself with a small amount of money like 100-500 usd
where do you suggest to turn your coins into money?
>tfw some pleb puts 200usd into crypto and goes 100x long at the perfect time and turns 0.0001 into 6 btc
>yfw that pleb was me
bitstamp
gemini?
It takes one bad trade to cut small incremental profits.
And If you won a large trade, it was gambling. And you end up losing in gambling too.
I'm in a loss now too, I've been learning TA but i still keep losin money on BTC, even after following the indicators.
It's completely viable, but requires a lot of time, balls and knowledge. Veeky Forums treats daytrading like it's some kind of witchcraft because most people here know fuck all about trading and economics. The thing is, to make it to a million or more that quickly you constantly need to go allin with everything you have, which is insanely stressful. Much better option is to work up to a decent stack of money/coins and from there transfer all your winnings into BTC.
You don't know shit about TA if you think BTC is the right thing to trade, bro.
>Just holding Bitcoin ion to the trifecta of monero litecoin and ethereum
can u repeat that, but this time in english?
>Till you realise that instead of buying at 1200, selling at 1400, rebuying at 1550 to sell at 1700, then rebuying at 2100 to sell at a loss for 2000.
>This is how Veeky Forums thinks day trading works.
Fuck you i was hodling this urge to jack off
The problem is that nobody ever hits the tops and bottoms exactly, or even roughly, on a daily basis for whatever amount of time you need to be a gorillionaire.
There is no other way to say this. Try it as others suggested and learn why it doesn’t work.
If you don't understand that then you really shouldn't be on this board. gtfo
Nothin, this is what I'm doing.
I keep it all in BTC and only buy an alt I know will go up a little then immediately sell.
I don't even go for 3-5%, I aim for 1-2% and let compound interest do it's thing. As long as transaction fees are covered Im good.
ETH hovered at 300 for fucking ever. The volatility just isn't always there.
Don't listen to the fags saying it doesn't work. It does. Sell market top, buy limit bottom. Its not that hard. I have a high success rate. If you Fuck up and buy too high and the bottom falls out, hold that shit.
That's the plan, baka
Oh look, another person who doesn't understand how day trading works. I think I'll start a day trading general soon and try to educate this board.
>If you Fuck up and buy too high and the bottom falls out, hold that shit.
Depends of how active you're trading. If you're a high frequency trader who trades several coins it might be better to just cut your losses and attempt to regain them elsewhere.
oh consumers....
8 hour's a day, oh gee what am I gonna do with all that free time after cutting back from 18
well yeah if you have the benefit of yesterday's charts it's easy to see where you should have bought and sold
I usually always would just hodl, but I decided to try this with a high goal of 4% daily. Only $100 in it, but so far I accidentlied $200 now. But to be honest I follow the indicators and sometimes find myself sitting there for another 3 hours trying to not lose. Things are crazy and stressful out there even at just $100 and treating it as a test I don't enjoy it.
some people are doing this, it just takes discipline and knowing that you won't win every single day, occasionally you'll make a mistake or a bad trade and have losing days, need to use stop losses and if your goal is to live off those daily trades, usually best to trade against tether/fiat so you're always moving between a volatile currency and a stable currency.
There was a korean dude on Twitch.tv (the gaming stream site) who was doing this live, I watched him periodically and he was consistently making the equivalent of like ~$5000 - $10,000 per day profit (5M to 10M Korean Won) but that was with around ~$200k working capital on the exchanges. He'd just move between KRW and either BTC or BCH, the bigger ones with huge volume, and just look for those 1-2% gains per trade. I'm pretty sure Bithumb has some thing you can pay for to get really low trade fees as well (similar to Binance Coin I assume?) which he was always using.
Not everyone who tries it will be successful though, some people just have bad timing, aren't smart or educated enough (as in haven't done their research, learned about charts, indicators, etc), are too emotional, or have some other psychological flaw.
Honestly it does work but you gotta really watch the markets, I've made a decent amount like this and then the only time ive lost money is trying something different and then having to build it all back up the way you are saying.
Forgot to add that in order for it to be compounding interest you obviously have to swing trade your entire stack as another user pointed out. So it just takes one bad day to take away weeks of progress, it would be stressful betting your entire wallet on a day trade.
Yeah, that's the biggest issue. Imagine the pressure on you once your going into a deal with a like $250k+ and then you sit there waiting for the bounce. Also taxes. Even if you make a million, you'll have to give like 40-50% to the jew.
Jesus Christ, yes I mistyped. Figure it out mongrol
that's how it sometimes ends up when you make one mistake misreading the indicators and emotions kick in
Bitconnect does this, they have a bot that like, trades and stuff, then they, you know, pay you. I guess.
>I aim for 1-2% and let compound interest do it's thing. As long as transaction fees are covered Im good.
So basically if I were to do the same but with $100 this means I'd buy a coin wait till it goes up 2% - 3% and then sell it again.
This would make me $2 per trade. Let's say I do 10 of these per hour. That's $20 per hour.
Let's say I work for 5 hours per day. That's a total of $100. Then we need to divide the fees which I don't know how high they are.
making small gains fellas.
>only watches markets for 8h a day
You're never gonna make it.
The trick with daytrading is you have to be okay making $0 some days or tens of thousands on others. If you chase gains you will lose money. Main priority is to absolutely NEVER LOSE MONEY. The gains will come automatically after that.
>Realistically speaking, what it's stopping one from watching the market over the day and making 1-2 safe trades per day making like 3-5% per day and then turning nothing into millions in like half a year?
The fact that you don't have a crystal ball
that's why you divide your stack into different timescales, if you aren't a pleb. There's a limit to how much volume you can get a good return on (in most markets). If one gets stuck but you feel good in the long term, focus on a different pile. If what you want to hold is bear, you can flip a bear market exactly the same as a bull market, you just have to think opposite. As long as your only allegiance is $profit you can play any volatility that you see coming.
Why would you only invest $100 though?
That's true no matter how you make money . . . avoiding making money because you'll have to "pay taxes" on it is the most retarded thing I've ever heard.
to see if this method works. just do it until u make ur first $1000 and then work with that. No loss after that. only losing ur time if things don't work out.
money?
>realistically why doesn't everyone just make profitable trades every time to make money
Gee OP dunno that's a really hard question. Here's a tougher one though: how do these threads keep coming up? How are people this dumb?
>when you fuck up just hold the bags
Listen to this guy OP, daytrading master here
>Even if you make a million, you'll have to give like 40-50% to the jew.
is Veeky Forums underage central now? where did you even get that percentage?
And then you have $200 to do the same thing the next day...
You seriously can't be THAT dumb.
Let's take your numbers (ignoring that they are completely over the top). If you start with $100 and make 10 trades per hour, 5 hours a day and make 2% on each trade you will have made 269.15% profit on the first day. After 1 month you will have made $780,851,412,198,268.38.
>small gains
more like
>small brains
yea.
However I just confused myself.
Let's say I wanna buy $100 Ethereum which cost atm $700
a 2% rise means it has to go up to $714
a 2% rise in my investment of $100 is only $102
thing is it doesn't happen that fast. A 2% rise happens every hour if lucky. I dunno, Im getting confused here
This is the sort of plan that sounds so simple when you have no money in the game. Looking at the historical chart it all seems so clear. But once you actually start placing bets and feeling your neck crawl with the anxiety and tension and that line keeps moving against you you'll quickly realize how naive you were
Fucking end yourself, you dumb mathlet.
>a 2% rise in my investment of $100 is only $102
Compounding interest, faggot, google it.
bujloosellhai
It works, just make sure you have a sound strategy and can risk manage. many people here will say it doesn't work, which are the same people that we who understand it are profiting from.
yea I fucked up. So glad I'm user here and u don't know me.
> Not being so autistic that you have no concept of value and just like it when the pretty lights on the computer change
I'd rather have some quazimodo autist trade my money than any of the hotheaded /bizraelis/
As said, it works until it doesn't.
Try it and you'll see. Having said that, i did do it for a few months successfully after having the same revelation you did. It's just a grind and stressful when things go wrong. Eventually it becomes easier to just hold.
The "hodl no matter what" meme is retarded though.
so you're up 15%?
you can only flip a bear market if you have the option to short
I dont have access to any exchanges with margin, so I cant short.
>hodl no matter what
is incredibly true in a market that is growing as a whole this fast
No doubt you may end up ahead in the long term. But one of these days you may end up holding straight to the ground. I think it's just as important to hone your instincts for selling as it is for holding. Wont be a bull market forever.
Veeky Forums really can't math.
100+20%=120
120-5%=114
>tfw cant do math but sitting on returns of 1000%
cant win em all
Easy come easy go, my uneducated friend.
Fees and inability to buy/sell immediately
I did the same my first month and it never failed. It's honestly not that difficult, I tripled my money. I've been lazy this month and haven't touched it, though I still got a 50% profit in ETH right now.
There are lots of different ways to day trade. If you are trading on coinbase, hodl after a fuck up is right 100% of the time. Prove me wrong pussy. If you have enough cash to wait it out and keep trading, you should. Period. Poorfags like you only have one stack and you are all in all the time so you have to sell at a loss to buy your shitcoins. Eat a bag of dicks poor plebfag. Talk me down fool, I probably make more money from credit card cash back than your wagecuck job pays you. "Day trade guru / faggot". Write your little post. Make sure to put up your wallet address in case someone wants to send you some crumbs.
>If you are trading on coinbase
Stopped reading there.
Good luck.
coinbase = gdax ... still coinbase coins... still trading on coinbase when trading on gdax. kys faggot
>coinbase coins
kek
spell it out for you? BTC, ETH and LTC. The coins traded on coinbase/gdax. Get over yourself. Figured you would understand what I meant, but again, overestimating you fucking retards.
Easier said than done, shit's unpredictable
...
Nah, man. You're not getting out of this one. First you lash out like a complete retard for no reason and then you talk about "coinbase coins". You're a huge faggot.
I don't think you belong on Veeky Forums user, go back to /b/
Okay, happy to be a huge faggot then. You can call me Chad (married cheerleader, 3 kids, loaded, huge benis)
Yes sometimes
The point is I'm never posting wojaks, it's called risk management you dunce.
Did you not see where I wrote COMPOUND INTEREST, like showed it's fucking magic but you're an idiot so I'd suggest staying well away from this game
Im been the same, except made plenty of gains late from parking my money Im XMR and XRP
>don't listen to Veeky Forums
>spend two entire days in front of pc
>make my stack grow
>fomo hard on sudden flash btc rally +1,5k
>go from having entered btc at 13k to 15,5k
>reduce stack size by 0.01btc, entire days wasted
Never again. Just take some money and hodl. At least I bought REQ at ~0.15$ (not enough though)
Says the non millionaire neet living in moms basement sucking cheeto dust off his pudgy, never been inside a pussy, fingers.
>trying to predict the market
>think it's so easy
>I just need to make 3% for 150 consecutive periods
>because nobody thought about it before
>market are just so easy to time and to arb
This is why you faggots will never make it, you don't understand even basic stats, and I'm not even talking about finance here.
>He thinks you can successfully day trade crypto
Lmao there are no fundaments you retard. It's an irrational market so what's there to trade? At least if you trade stocks , forex and commidities there are reasons why the price goes up and down.. there's a conflict in Middle East, price goes up.. some uprising in one country and the currency of that country plummets.. etc. Those are somewhat rational markets. Crypto is driven by greed and speculation. You will get crushed day trading it sooner or later given the amount of manipulations by exchanges there is and the amount of PnDs there are.
>0.0001 into 6 btc
>100x
u dont say
How fucking stupid are you?
Can't be that great if you're getting that riled up and asshurt over anonymous posts on an Peruvian alpaca grooming board.
just calling faggots faggots, faggot