Hello, This is a strategy I am offering to help guys interested in day trading. Please keep off topic comments and critiques to a min. This is just free advice Im trying to be a bro.
When we daytrade we can lose bearing if we are really up or down. We may feel our asset went up when in reality the gain is only a refelction of the BTC going down. This is why I suggest taking half your money and placing it in tether.
Now you have become your own lending company. The tether bank. Keep and amount in tether as your savings and try to make it grow.
Say you have $3000. Put $1000 in tether and lend $2000 to the company or companies you think might bring you a quick 10%-20% return for the day, or week. Once you make your profit goal cash out and place the profits into your tether savings account. This way you can watch something tangible grow. And not FOMO about moon missions you missed. Making a few hundred bucks a week is not bad. This is a startegy to manage money. Of course you can pick shit coins and lose it all. This was just some advice on how to ground yourself in the chaos of BTC and USD fluxuating against your Assets. Good luck bros! Good habits and steady gains are forever.
So do you have to put it in tether? I’ve heard some shady things about it, not including the hacks. Is it okay to take the profits and spread them across some HV coins?
Ian Perry
Why do fags put things in Tether instead of something good that is on an uptrend? Something underpriced/undervalued with a lot of potential?
Good luck missing out on true moon missions for a few pennies.
Ethan Lopez
I am not shilling tether, but at least its a number that stays the same no matter what. I have savings in tether than and amount that is in the market at play. I try to treat that amount in play as a loan. I expect each of those coins to return me 100$ for the day. Like the godfather taxing the crew. I put my money into coins that Im not scared if they crash. Like top 10s. I also hop on moon missions on shit coins and try and grab 100$ that way. Im trying to keep the circulation of alt/btc the same and scrape the profits into USD. You can use this method with a stable coin or say you really like XRP or something. You just treat that as your savings. It doesnt have to be tether. Its about making something grow steady. Maybe you want to collect more MONEROS I dont know. Or more Lumens. But cash out profits into the currency of your choice.
Zachary Hughes
I agree 100% this is a starting point. I mean we can leave the profit as BTC and day trade that too. It is never ending. The options are endless. This is a starting point. Not really advice for pros like you, but yes you are making an excellent point indeed.
Parker Mitchell
How do you actually day trade crypto without slowly bleeding money? I've tried it for a week and even though I've made some good gains here or there, I always lose more than I gain because the stock doesn't behave like I expect it too (all time low then drops lower) or changes too quickly for damage control
Cameron Rodriguez
I gotta say he has a point as well. Though for me it was work that fucked me over. I tried day trading a few months back and ended up losing tons because I'd have to go to work and when I got home I'd either missed moon missions or my coin had dumped. I'd have to sit and guess what it would be 8 hours ahead in time.
Do you have to be a neet to daytrade effectively.
Leo Price
Only a fool puts anything in Tether. It's a token issued by an offshore company that claims to hold the exact amount of fiat USD for each Tether token, but refuses to disclose where their bank accounts are and refuses to publish audited accounts. They also do not convert your tokens to fiat. DYOR anons. Buying Tether is crypto suicide.
Nicholas Phillips
You really need to accept that you may not be able to make any trades for a week if you get stuck. I got trapped in XRP for almost a month, but I refused to sell for less than what I paid thats my number 1 rule. Its really hard so Spread your cash out between maybe 3 coins like that. They all go up. You really cant lose in this market. People are thier own worst enemies. Never trade at a loss. Never. Even REDD coin is up. They all go up.
Alexander Bailey
Do not try to daytrade unless you have 100k in crypto. The KEY to daytrading is to be big enough to hold a against atleast a small dump just by yourself. That's something like 20~ Eth that you're willing to push to hold something up.
The chance of you making it buy 2x'ing your account repeatedly by timing pump and dumps is extremely small.
Most of the 'wealthy' crypto'ers are long term holders. They bought Eth, Btc, or some new coin at some abysmally low price (usually fractions of a penny, and held for over 6 months to a year when the price of said coin 100x'd).
If you are big enough to hold against a Dump (100k~ in crypto)...
You can start doing very fun day-trading strategy, such as waiting for the charts to approach a 'resistance'.. and then slipping in a 10 Eth buy order, followed by another 5, followed by a 10...
Eventually some retard technical guy is going to yell "EUREKA RESISTANCE!" and get in with you, and before you know it you're 40-50% above your entry price riding on noobs, Wait for the volume behind you to thicken and dump on those retards for 40% profit on 30~Eth.
Aaron Green
Well I use mulitple buy and sell orders. I look at XRP and see it moves a lot and is safe. I put a few buys near the days low and put sells 10%, 15% and 20% above. I let the computer do the work. I get too emotional staring into the fire. Just trust that today will be similar to yesterday. Dont get bent that your coin doubled and you only made 10 percent. Its free money and beats flipping burgers. Its a tool I use. I dont listen to opinions on coins. Im too busy trying to make numbers go up to think if this whole thing is real or not. Only creats FUD
Kayden Gomez
They go up as long as bigger fools come in behind you to buy your holdings at a higher price. That cannot go on forever though. The number of people is always limited. It's like musical chairs. When the music stops someone will be chairless.
Robert Perez
A teenager with 5000 dollars can easily make 500 bucks a week playing with half of the stack. You need to just change your perception and expectations its only math and this is a hobby to most of us. Lets get real. Thats why so many people are ok with losing money and continue. Its possible to have good habits and practice when any amount of money. Try and make 10$ a day and become good at the work. The money means nothing, the money is what fucks your head up.
Jason Morgan
Just set up buy or sell orders ahead of time?
Noah Rogers
Sure, and you can burn your hand cooking over an open flame. No room for FUD. Why drive a car you can get in a crash. No one here needs to hear your negative shit. Learning anything costs money. Sometimes you lose, try and keep positive.
Anthony Brown
Yes its annoying when you miss a buy by a fraction and see a moon mission. Its like fishing you set up bait. Sometimes you catch a really great deal. We are just buying and selling stuff. If you see something cheap that you know you can sell for more buy it. XLM was 600 sats. Look how popular a coin it is. Just buy it and sell it. People think too much. I dont know what any coins do. I dont really care.
Julian Murphy
Dun do it. Chance of failure is extremely high.
If you're going to, try to trade from the perspective of someone who CAN move the market. Where would you enter? Where would you create fake buying pressure?
Can you feel the other traders squeel and get squeezed and eventually call it quits and sell? Sell to you? Sell cheap? Can you imagine buying at that price? and buying higher, little bit higher, watching that person start to feel the regret of selling and thinking of buying back from you what they sold to you cheap?
IF you think like that constantly.. maybe youl'l make it trying to day trade... but even then it's a crapshoot.
Buy and HODL until you're big enough to move the market, then daytrading is free money. Just watch out for other whales.
Thomas Rogers
Not if his money is getting stuck for days at a time after making a bad guess.
Luis Evans
I make consist money. This is how. I guess I am special and you guys totaly aren't spineless emotional pussies. Why is do faggots always feel the need to enter the discussion? In every part of society there are naysayer faggots on any topic. You are worthless. Fear is worthless. If you want to hold all your money in crypto be my guest. If you want to live off crypto give trading a try. So when do you pussies decide to sell? Never? YOu will hold every asset forever hoping your life miraculously changes one day? Learning to trade is what changes your life. Teaching a man to fish. YOu are hoping a big fish jump on your boat someday. Good luck. The fish will rot and die before you ever spend your money in your real life. YOure attitude is so defeatist and lame. Only works if you are cheating blah blah blah already decided to lose.
Nathan Campbell
Sure. You're a genius because you've turned 100 bucks into 300 bucks and now you think you're the daytrading Messiah that's sent to the desert called /biz to convince the great unwashed of your godliness. Muppet.
Jaxson Wilson
Thanks Pritesh. Bought 100 crore.
Ryder Ward
I offered advice to anyone that is looking for it. Youre a bitter loser faggot who took it upon himself to enter a conversation that started by saying faggots like you are not welcomed. YOur angry have no control over your life or money and feel the need to come here on my thread and spread chaos. Youre not welcome. No one like you and I feel no need to share how much I made this year. Eat a dick loser.
youre a loser. you look in the mirror and know it. you cant escape yourself. youll always be a loser just like your father and his father before him. its obvious no one taught you how to be a man.
Liam Harris
>You really need to accept that you may not be able to make any trades for a week if you get stuck. Thanks, much needed advice
Jayden Allen
Lel. Ok gook. Take your crypto gains and invest them in an English course.
Alexander Green
At least I had a man for a father that taught me life skills. Take your English and use it to spread lies and a flase idea of yourself to the world. Its transparent you are a loser. Just a big loser making trouble on Veeky Forums to cope with being a big loser. Im here trying to help. Take a hike loser.
Easton Bailey
regardless of that weird random fighting, i appreciate this thread it gave me a lot of perspective on what I need to be doing with this amount of money. My problem was I looked into and understand what to do with a little bit of money behind you, but the slight adjustment for my actual unfortunately small bugdet had me for a second, lost 50% and just got it back. I feel like this is where I start. Likely not daytrading, just long term until I can. Day trade free money the dream.
Carson Lewis
Please post excel of your last 3 months of trades
Kevin Barnes
no. i gave what i chose to gave. i am as creditable a source as any other fool on this websit take the information if you find it useful or dont. You guys need to get fucking lives instead of being at eachothers throughts. Crypto is just sports to half of you. Routing for your team. Bunch of retards in here, The fact that you sell for less than what you paid in this market shows half of you have impulse control issues. Professionls feed off your emotions. I know its hard to miss a day of trading I know you are down. I know all you can do is shit post. Get your life and game plan in order. Stop worrying about me and my gains.
Jeremiah Long
>Crypto is just sports to half of you. Routing for your team. Real talk
Do you have any books or training materials to help a complete newfag on this crypto wealth accumulation journey? I've just read CryptoAssets but I'm open to literally anything
Michael Taylor
No. Just dont be greedy. Look at XRP its on a dip. YOu really think that coin is going to just crash and all your money will be lost? Of course not. Put in a sell at 10% above your buy in and forget about it. Or look at something that is mooning. You can see when something is going up and down 10 percent in the same hour. You just go for it and learn along the way. You are playing with fire. Its fun. Be safe. Make mistakes and learn from them. Most mistakes are routed in you were being a pussy or too greedy. Start with smal amounts. Flip 100 bucks a few time trying to make 10 bucks at a time. You will be confident enough to stick in a few grand eventually. We are all doing the same thing just with different numbers.
Brayden Gray
Very valuable thread, thank you
Grayson Cook
It's called picking pennies in front of a steamroller. Guaranteed to work. Lel.
Easton Mitchell
>I'm not shilling tether
Kevin Brown
Im actually in the market for a stable alt coin if anyone has suggestions. A steady gainer that doesnt react too much to BTC and maintains its USD value, but thats prob for a different thread? Maybe Monero?
Grayson Thompson
You have to go back
Justin Morris
Unironically dogecoin. >huge community >4 years old >still relatively low market cap >1 minute confirmation times >1 doge transaction fees >merge mined with litecoin, meaning it is guaranteed to survive as long as litecoin survives >friendliest crypto currency
Josiah Flores
XLM
Brandon Ward
We arent going to go back. Get used to it. More and more Chads and Normies will be here. Reddit is very greedy and thier paid sponsorship is driving the normie market to Veeky Forums coin. Sorry user, you can go complaing about pajeets over at pol.
Carter Morgan
I thought about this a lot. You can trade for real shitcoins like fedora coin with dodge. If you buy with BTC you pay like 50X more I read. If you are in dodge at below 20 sats youre money is really safe.
Luke Thompson
How do you deal with all the fees? If you're daytrading something that can't be sold directly for Tether, you have to convert altcoin->BTC/ETH->Tether. Then reverse when you want to invest?
Evan Kelly
When you die you will be judged harshly for defending pajeets on our perfect imageboard
Carter Morales
People will still be using doge long after most alts have died. It's long term though. I have a few 100k. Rarely look at the price. Not selling anyway, so doesn't matter. Come back in a year and be pleasantly surprised. Or have a few 100k in funny memes to give away to your friends.
Carter Scott
well i tether my savings. the rest is paired to btc, but I pay only attention to how the coin does against USD. When the buy order is met the profit is sold to tether. You keep the principal in BTC and hopefully have your next trade in mind and are concentating on buying in at the best time. This is the learing. When to catch the wave when to bail. If you are conservative you ride the middle and are safe. People being the way they are the desire is to catch the wave sooner and ride it hard to the end. Imagine if you made 2X gains! Damn cashed out at 10%. Its surfing. You can even just be trading 5% margins or 3% and more often. They got robots doing all this shit already. You are interacting with robot traders. Youre just trying to make a little money and take advantage. Dont buy the dream. It will become a nightmare and you see guys like broken ghosts pop up in every thread warning of the dooooooooooom. 100-200$ a week is good. Dont be greedy.
Jonathan Edwards
Ok, thanks. I may give it a try, but my first attempt this morning failed really bad because I panic sold in a dip after buying above that. Any coin you think I could buy now off Binance and make my 10% loss back by tonight?
Easton Fisher
Ya this is human error. This stuff is easiest when you are not into it. Imagine your job was to make 3 guesses how low a coin will go and 3 guesses how high? Thats all your job is and you didnt have to know anything else. You know you are always right. Then you get mad because you doubted yourself. Welcome to trading. Set it and forget it. Multiple buys multiple sells and adjust. I was tinkering with XLM, ADA, today. I think they are milked. I did ok with SALT and then got caught so im holding SALT, but thats a lending coin it will be huge for sure I dont care. Keeping an eye on Tron it goes from 250-300 like almost everyday, and SIA was being really predictable too. There is 10% in those coins somewhere.
Jonathan Miller
Thank you very much for the advice. Have a nice day.
Christopher Young
Is there a reliable way to figure out a better selling point? I'm accumulating eth, and saw the xrp fractal. Bought at about $1.10 Put in a sell at about $1.30. I'm glad I made cash, but I feel like I could have done better.
Jose Brooks
You need to think of each trade as its own entity. You made a trade from 110 to 130 excellent. Do you think if you buy in at 140 it will go to 160? Will it be that bad if you are stuck in XRP? I think the issue becomes when you anchored into the price you once paid. Thats over. I bought into XRP at 2900 and felt it was too high (it was at the time). This is why its good to just have a goal make your money for the day and take a break see where the dust falls or take anoter wave. Each trade is a new transaction.
Michael Carter
Hi, and thanks! >I have about 2k in. >Currently I am spread across about 20 coins. >I find that reduces the stress: if a coin moves down, I don't feel I have to panic sell so much. >I have been taking profits and moving them to other coins. >I have been keeping BTC as the center to return from and to, like you do with tether, mostly because my goal was to increase the number of bitcoins in my possession, for when it goes up. >I have been thinking about trading in tether, because it is more intuitive, and measured in dollars, so I can tell how much real-world money I have accumulated. >I have been taking very small percentages of profit per trade, but I usually, at least am in the black, I keep thinking of buffets rules: "Don't lose money." >I have been trading in small amounts, compared to my holdings, ie 0.01 BTC. >The round numbers helps me get it straight in my head. So, if it's ver one i know it's profit, if it's less than one i know it's a loss. >I am just learning, and am taking baby steps, especially trying to ride the peaks and troughs of the waves of FOMO and FUD gently. >I try to set a buy limit at the daily low to resell at the daily high, but usually, end up overriding and buying and selling manually, (almost emotionally), but still trying to "buy the dip and sell the tip." >When i start being confused or make a small mistake, i shut off the computer, go to Veeky Forums and then head to the gym for a bit. >I replace lower performing coins with higher-performing coins over time.
I am now considering trading in USDT to keep it even straighter in my head. What do you think? any other suggestions? Do you think I should aim for ten percent and learn some more patience? Wait for the daily Low to come around again? Have more or less coins? Bigger or smaller transactions? Other places for insights? I don't keep my money in BTC, only trade in it. I am day-trading on coins that I would HODL Should I hold anything in particular?
Matthew Jenkins
How big is your daytrading stack? For a $550 stack, what should I be hoping for each day? $50 sounds reasonable?
Connor Lopez
Doggo threads are best threads
Josiah Anderson
Warren buffett is not a trader.
Daniel Sullivan
I was spread across many coins. Digital Note, SIA, REDD COIN, TRON, sound familiar? I saw my account explode in seconds all those coins mooned and crashed at the same time. I could not concentrate on running all these companies at once. I try to look at this as my own economy now. I love lots of these coins. I really think many will 10X, but its kinda like women. Nice idea having all these cuties making you money but when you see one coin perform and thik wha if I had 1000 bucks instead of 100 in that trade.
I was also intersted only in getting more BTC but lets face it it dropped 25% and I feel like my "profits" are not really showing in a tangible way, so its tether simply cause I know what $X means. I thought about just holding XRP but I dont think I trust it. I know somone who has made a very very large amount of money flipping XRP. They could have made a lot more and it weighs on them, but lets face it XRP can crash. How would you feel losing 100s of thousands? Missing out on a few hundred thousand is a tough pill, but again, what if you didnt have to know all these details? Its easy money and only as hard as we are choosing to make it.
Jose Perez
Don't you think XRP has one last push before the New Year in it? When Korea wakes up again.
Lincoln Wright
You can learn with $500 like practing free roll poker. You need to have 50% bail out money. I didnt get into this technique because of the nature of the thread.
So you have mulitple buy ins and sells great you averaged into a coin you played it safe but oh fuck it crashed. You are now holding huge bags. You waited 2 weeks no trading like a good boy and it crashed more you are fucked. Now you buy in at the low for an equal amount you first got in with. Now you need to only get half way up to break even and be released from the coin.
I think its reasonable to make 10$ per trade with your stack. You should be buying in at 100bucks trying to make 10. You should be working 2 coins at a time. You should be reading charts and picking coins at thier bottoms. If you are hearing about a coin you are too late. You should be looking at every coin and seeing ones that are bottomed out.
If you make 10 good trades you doubled up. Its like anything just do the correct thing over and over and you will make it. Just like lifting weights or learing to play a piano. Slow and correct.
Hudson Gonzalez
>Its easy money and only as hard as we are choosing to make it. Thanks for the reply, user. That is a good note. But focusing on just making a small profit daily is a good way to go. It seems good for the emotional long-term health. Just get up and put on my best Superman underoos, and get to work. Make that daily profit in the crypto mines, and head out. Let it increase over time. Learning a lesson day by day. And set new standards as the stack grows. Slowly but SURELY!
>Warren buffett is not a trader. Doesn't invalidate the quote from the world's richest investor. Way to miss the point dimwit. Stay broke.
Luke Jones
i've tried to trade between my coins and made some very small gains(i only lost money on pump and dump shitcoins) on price fluctuation, but it's just not worth the hassle. yeah, he's a true investor, yet he does a shitton of research for someone who never sells anything, then again crypto doesn't have dividends(until pos is around that is).
Bentley Smith
you are the one missing the point of that quote, trading is gambling, if you just buy and hold you will outperform most traders looking to get rich quick, that's the point, so you adding that quote to your trading diary doesn't make sense.
Grayson Hall
I'm an econ student and disliked this cryptostuff quite a bit, but the money is very tempting.. so after browsing Veeky Forums for a month now, I"ve just purchased €200,- of BTC.
I was planning to put 50 in neo, 50 in xvg, 50 in doge and 50 in whatever to reach the moon... any tips on diversification?
Landon Wood
if you buy in right this second blindly to XRP and set a sell at 20% higher I am pretty sure that buy order will get filled. I just dont know if i wanna hold in XRP. I think its happening too quick and there is more to lose than to gain. Maybe it goes to 5$ its not going to happen in a day it could go to 1.50 in a day though right. I think a correction will come.
Nathaniel Johnson
Namefag he's right, you defended pajeets on our image board. You need to leave.
Nathan Miller
There's an old joke being chased by a bear. If You and your friend are being chased by a bear... You don't need to outrun the bear, just outrun your friend.
You just to apply a little more patience in your trading than the next guy. You can do something to take small steps forward. You don't need to just HODL and pray.
Andrew Cox
You're an idiot man. Buffett's quote has nothing to do with day trading, which is what this entire thread has been about. Warren Buffett doesn't have any advice for day traders. If you day trade, you will lose money at some point which is why you manage your risk. Don't lose money" is a retarded thing to say in a thread about daytrading unless you just started yesterday, which I assume you did.
OR you just download discord, follow this group that has a whale which is nice enough to announce his coins, has set up 3 targets on every signal he does, i earned x4 on my 2 weeks there, they have premium which costs around 200$ but you can get solid free signals
Luis Lee
>It has EVERYTHING to do with putting money on an exchange, genius. The way you are reacting emotionally to some random on a jamaican ice-fishing image board speaks volume about your approach to everything in life including """investing""".
Ben Graham makes an important distincion between the "Intelligent investor" and the emotional one. Guess which category you would fall into?
Justin Long
Ok, so I should split my stack between a few coins so I don't get trapped all in, is that what you're saying? Also, how much time do you usually wait between trades? I have half my money in another coin, so $550 isn't everything I have. That would be logical, but this coin doesn't seem to react yet. I think the hype will push it high today again, the question is if you can buy right now and pull out at the right time.
Julian Brooks
this
Evan Johnson
Putting money on exchange for 1 year is "investing." Putting money on exchange for 5 minutes is "day trading." These are two entirely different professions and that's the only point I'm trying to make.
