Tfw your day trading attempt fails but it's fine in the end

a great way to improve your trading is record your trades and afterwards, when you're done for the day, spend half an hour looking for what you did wrong, and what you could have done better.

if that's true then you aren't practising risk management

a healthy rule is to risk no more than 1% of your total account per trade. this means that if your trade setup requires a 10% stoploss to be viable, then you can put 1/10th of your total account into the trade and still only lose 1%. knowing where to place stoplosses is important as this will tell you how much you will have to risk, and that will tell you how much to put into the trade.

a string of 1% losses can add up quickly too though, so to set that aside if a losing streak starts, 2 or 3 losses, cut risk again, maybe to 0.5%, and scale back in when trades move in your favour again.

the hardest thing about trading is managing your own emotions. a lot of very simple trading strategies are effective, but they depend upon you buying and selling at the proper time, not hoping the trade will suddenly turn in your favour. after a big win you can get complacent, and the same is true if not more so after big losses. check your emotions at each stage. "am i being mechanical?" "is this a sound business decision, or an emotional urge that violates my system?"

I'm a BTC holder for years, so the trading aspect is more of a hobby now. I started 3 months ago with 3k$, now have 110k$ on my trading account.

we're trying to increase capital not mmr over here nigger

Don't know about him but if I can make 3% per trade I'm happy.

What do you mean by liquidation point? Sorry native slovenia here.

larping faggot

>mmr

what?

Oh hey, Austria here.

Liquidation Point is the point in a margin trade where your order would be closed automatically because you're "losing" on your trade. With a Margin trade you can "bet" on the future price of a coin (either "long" bet on coin going up or "short" coin dumping). Thing with margin is you can borrow more funds than you have to trade, hence there is a liquidation point because you secure your borrowed funds with your own capital. The FAQ on the Bitfinex exchange actually explains those trading methods very well & easily understandable.

2-5% is what I'd consider acceptable
Naturally there are breakouts that leap to 30%+ in a day

Whale here. I just pump something until I see it on this board, wait another hour or two or until the thread hits bump limit and then dump on your heads.

Tried daytrading req last week. It was all good until I fomoed in on its peak, made consecutive bad trades and lost 75% of my progress.
And I was perfectly aware that there is ALWAYS a dip after news. Emotions are a bitch.

Actually no larp. I started with small trades and was very happy with 100-500$ gains, now I'm not closing a trade below 1.5-3k$. Daytrading is really great for gains but you need to understand the risk behind it and have the nerves to do it. Also you shouldnt be emotional because emotions will almost certainly lead to very bad decisions.

Did you burned yourself shorting crypto ?

pic related, current open positions, opened like 4 hours ago.

>daytrading

Nah, I just generally don't do it because I trust in the market and have seen so many unpredictable bullruns that I rather bet on catching one of those than burning my fingers trying to time a short. I'm happy that way.

Oh great its another thread where faggots exhort info and retards expose their trade secrets

>scalping

For a good group to talk about trading and especially talking you out of making dumb mistakes come to

discord.gg/tebwEwv

Retards get banned.

lmao fuck user that is a good strat if your a baller

Fuck off, scamshill.
Never trust those discord links.

I am fairly new but i managed to short some cryptos couple times. It might have been just luck, so probably not a good idea to push it.

Are you retarded? It's just a discord server.
You join and if you don't like it you just leave

nice, man. how do you keep yourself from closing your positions prematurely? also when do you close a losing trade?

Do you know any good books or guides explaining the whole thing more in depth? Or is it just experience?

Makes me feel bad that I started twice as long ago and have only made 1/5th those profits.

I havent done so, only once, one of my first when I was scared to loose too much which tought me that you can always hold out a dip, even if it means that your funds are frozen in a trade for a few days. Always sit losing streaks out, it will recover and get you gains. That's also why I only trade coins I really do believe in and hold long term besides the trading.

As I said I just started 3 months ago, I read about analysis on investopedia (especially Bollinger Bands!) and just worked my way up on a daily basis. Started out with minitrades of 50$ on bitfinex, learned more with every trade, now up to 200k trades.

how do you pump?

did you know the inventor of bollinger bands is hella into crypto

twitter.com/bbands

How do I set up a stop limit properly. I keep getting JUSTED from whales chad stepping at me.

That's cool, havent checked that out yet. Thanks!

Thank you for your education.

you too

Thanks, that should help a lot. I started dabbling in trading around 3 weeks ago (though only done it seriously during this one) so I am lacking "some" fundamentals. I did double my initial investment, but I shouldn't have taken that long.

doubled in BTC I mean

Yeah I see what you mean, especially in the beginning you shouldnt be inpatient, just be happy with little gains and let your experience grow, it's getting easier with every trade and time will fly, you're gonna have your first "big trade" just like that. Bollinger Bands, Zig Zag Lines & Fractals are my 3 go-to analysis tools. They're very reliable for me, but always keep unexpected news in mind, so always have reddit, biz & co open on the side.

>I was scared to loose too much which tought me that you can always hold out a dip

man, I held an omg margin long backed by omg for almost 3 month. that's no fun. I actually don't know what divine force helped me out, but when OMG dipped to USD 3, I was at -3600 USD. Somehow I didn't get liquidated. Anyway, long story short, I missed out on a lot of gains and almost lost 25k and I am incredibly stupid for backing with what I was longing.

Comfy as fk with bzc

Damn that's harsh bro, bad feels. That's why I try to keep my LIQ on the zero, happily can afford to do big trades now still with zero or very low liquidation because I built loads of trading capital over time.

>Follow the conversations
>Use twitter & forums (not Veeky Forums, we're all shills here) to pick up sentiment on certain coins

what twitter accounts and forums do you recommend?

for me personally it's each coins individual subred & ethtrader subred.

yeah. I've been doing exactly the same the last few days, but well I'm a little terrified of dips right now.
That's why I asked how you know when to close. I'm having problems with that right now.

By the way, really great job grinding yourself up to over 100k. What do you think about lending money?

Do you keep btc or usdt when not trading?

I dont trust USDT look at the TOS. Trade in coin, put it in a wallet. if you want to cash out shapeshift to something you can get real fiat for

It's easier to just buy at the dip and hold. All it takes is one moon mission to make a huge profit versus sitting in front of your computer the whole day and scraping pennies from small trades.

I've only been day trading for 6 months now, maybe 4% on my stack each month aside from breakouts.

I've found that it's risky but also kind of nice to have a primary coin to day trade with and when you see it dip to a high point sell and take it into another volatile market, try to flip it there, and then buy back into your original at a lower price. I usually only consider that one trade and sometimes if you can see a high and low forming between two different markets you can get double the gains. Risky if you get greedy or time it wrong. Also it can save you, just yesterday doing this saved me from losing 15% in 10 min to gaining .5%

it's no doubt easier, but if you know what you're doing you can rack up decent gains
most people are best off just buying the dip and hodling for sure though, and will make better gains than trying to beat the market

You can reasonably easily get at least around 5 percent on some smaller and much more volatile coins with a trade that's over within an hour or two. Of course, you have to time it right and also because of their smaller volume you can't put too much in them. But the gains can be quite good.

Why day trade crypto? Why not just find good coins and hold?

If you're doing it because you get bored, maybe binary options would be something that might interest you. It's the hardest form of Forex trading but once you got good, your day trading with this would be quite easy to predict.

True, but in a bull market like this (which doesn't happen every day/month), it is possible to make 10x profits just from a few trades

BCH was a good example of both good daytrade and bad (depending on when you make your orders), especially when news were piling up / volume stacking up

my strategy is to pick high volume coins and start buying as soon as the price starts going down. I have a stack of btc i use to trade and buy down in percentages until ive depleted my stack, then i wait until the coin im trading is above is above where the majority of my stack was purchased in sats and i sell. basically riding the waves and average down/up my buys/sells. I use to put 100% of my stack at any given price, but that makes it easier to get burned.