I'd like to learn how to daytrade from you guys? what's the strategy? how do you sell? I'm still a newfag and yes I've already watched some videos on youtube but I wanted to get advice from you guys.
Also can someone familiarise me with the crypto lingo and some basic new crypto trader tips and random facts to know? and finally what does it mean to pump and dump? i understand enough from the name but when do you know when to dump i guess. thank you for all your help
There are studies that 90% of people who daytrade can not beat the market but everyone thinks he can.
You for sure will also not listen to the evidence and try and get burned. I guess everyone has to make their own experiences
If you don't want to hodl you need to swingtrade not daytrade. Still risky but better
Buy ICOs and hold
I don't have enough money to not listen to your evidence. I can't afford to get burned as I'm a poorfag who just wants to desperately escape the middle class life. I'm 21, still in uni and I just want a way out. what is swing trading on biz yes
Terrible meme and using reddit spacing kys
What exactly is an ICO, are VEN and DBC for example ICOs
Day trading positions are segmented to a single day only. Swing trading involves holding for several days to weeks. By holding overnight, the swing trader incurs the unpredictability of overnight risk resulting in gaps up or down against the position. COPY PASTA from Investopedia go learn there. Dont trust biz for advice
machine learning pattern recognition
Don't fall for the daytrade meme. 9 out of 10 traders lose their ass. Your goal is to try and be the 1 out of 10 winning on everyone else's loss, and you're going up against people with lots of knowledge and/or money to play with. In most cases your best bet is to just hold. I had a stack of 50 LTC at one point but I sold it all into alt coins. I still made $5k over that time period but could have made $5k more if I just held. I bought 30k REQ at 10 cents and got too impatient. Went into other shit coins and lost when my $3k could have been $30k. Pick good projects, buy and hold. Come back in a couple months and you'll be doing better than most.
checkout cryptodealer.io and you'll find everything you need
ICO = initial coin offering
Basically you get in on ground level and give a startup your money directly in the hopes that their coin will be worth something in the future (can be months until you see gains).
You get bonuses (extra coins for example) depending how early you get in
Most ICO coins also lose massively value right after they get on an exchange and only slowly catch up again ICO's have been the big money maker in the past but now there are too many and the risk is pretty high to actually lose money.
It is a educated gamble basically but if you do your research you can still make the most money with ICO's
I would not start with that if you are new though.
Watch some youtube videos for example to learn some basics you sound very new
Data Dash is the best crypto youtuber and if you want someone who is more blue-collar and enthusiastic you can watch altcoin buzz.
In the stock market. More than 90% of daytraders LOSE money. 99% of investors who pick their investments do worse than the index.
Don't daytrade until you make a decent amount that you're willing to lose in order to learn how
ICO means initial coin offering. Companies sell their tokens before they come to any mainstream exchange. You can buy cheap, hold for a few months and then sell for an easy 2x-100x depending upon how good a coin is.
It sure can be risky, but I would also say ICO's/token sales. I've been extremely lucky with a few token sales, x1000 returns in a matter of like 10 months.
High risks, high rewards I guess :^)
Easiest way to make money day trading is to not day trade.
Instead make short term (3 -5 day) investments and hop between coins.
discord gg/ewywkrr ^^ call me a shill/fag but this group has helped so much
Only daytrade after you have at least 25k, and start with playing with only 2-5k
Good luck day trading when this whole market is filled with bots. Youll lose more money learning how. Stick with holding it won't burn in the end.
You extrapolate conclusion of studies about "normal stocks" to crypto with their high volatility? Are you okay, sir? WHAT THE FUCK, YOU PIECE OF SHIT???
swing trading is so fucking easy in crypto
yeah sure HODL with most your portfolio but Ive doubled my ZRX stack by swing trading 10% of it
>crypto lingo chasing the goat = buying when the price dips making a boat = investing in something you researched well getting cranked out = losing money safe babying = locking the price in on the ledger nano s cool off = breathing exercise to calm down
1. Fully understand that you're probably not special. 2. Read and listen to a ton of guides and shit, get to know how to read the indicators, etc etc. 3. When you feel decent, trade very small amounts. So even if you lose 5% in a few minutes, it simply adds up to a dollar or something. That's honestly the best way to train.
I mean, it's not really that hard. The reason for people calling it "hard" is because of the risk, daytrading is done in high volume so it could go up and down extremely fast. As some have already stated, most people lose.
Just wanted to say thank you for the help and advice so far? Also if an ICO isn't on a trade market like Kucoin or Binance how do you even hear about them in the first place and then buy them? And how do you know when to hold when to sell? obviously I won't sell if I'm losing but when is a good time in appreciation mode to sell? finally, any recommended investments I should put some money into by the end of this month (broke atm, poorfag)
>3rd day of crypto.. no gainz as of yet got some VEN, DBC, and ELIX. I'm scared boys but i'm enjoying it a lot. love the community unironically. been lurking for a while though
you can't daytrade alts because most exchanges don't offer margin to short. you'll be sitting on your ass on down days.
if you want to daytrade stick with one product with lots of liquidity. btc/usd swaps on bitmex. all you have to bet on is whether the price goes up or down. try the test net for paper trading
>how to daytrade and lose ? Just go, you're all set and win ? Do you think you're THAT special that you can beat bots, quants, shill groups, whales, nerds in the 99th IQ percentile, etc., etc. with a sufficiently high edge that ALSO allows you to beat the fees in the long run ?
if you want to win, you don't daytrade
sorry I didn't mean to imply I was special. I was under the impression that a lot of people daytraded but i see now that's a bad idea. from what i've learned here is that it's best to hold. so tell me what helps you decide what to buy in first place to hold
just type in crypto on youtube and find some good channels
Biz these days is full of people like you that give advice about stuff they know nothing about
Also 90% of all coins mentioned here are coins that have already pumped and will correct in the next few days so don't buy anything mentioned here unless you are very sure about it
here is how to daytrade: >aim for 1% gain with each trade >do this one time daily >after a year you will have (initial amount*1.01^365) which is approximately 37 times your initial investment greed is your worst enemy,remember that.
>Come back in a couple months and you'll be doing better than most. Best advice on here.
\biz should sticky this.
I buy when I like both the idea(simple and realistic use cases) and the execution(solid dev team and github repo)
Your only way to buy low and sell high probably Visit ico bench and pick an ico you like
>I would not start with that if you are new though. Why not? I started in September and only x2 my money buy making shitty trades If I jumped into the icx I would have 1M right now instead. Buy ICOs guys, it's the only way to make money Worst case scenario you have to wait 2 weeks for a x10 instead of 1 day
good luck timing that
> try to sell because you think it will make a small dip > it goes up 30%
>If I jumped into the icx I would have 1M right now instead.
IF, there where alot of other ICO's
Jesus this place is full of preschoolers
>opportunity cost Yes, I get what you're saying. But if you want guaranteed gains (although lower) while remaining comfy then this is the best way as far as i know. You always store your gains as ETH or BTC at the end of the day.
Day trading is easy. I'd suggest researching the 90/90/90 rule first though.
>the swing trader incurs the unpredictability of overnight risk resulting in gaps up or down against the position We're talking about bitcoin not stocks. The "gap" they're talking is the difference in price between today's open and yesterday's close. There are some parallels of course but enough differences that just copy pasting from investopedia should be avoided.
Don't feel pressure to make a trade.
Some days the market will offer you a number of advantageous trades, sometimes you will go several days or even a week without an advantageous trade being offered to you - you can't control the tides, but you can ride the waves.
Use TA to find entries and exits based on trends, find a few (and I mean a few, you need to be able to keep track of them) decent coins with good fundamentals currently in an uptrend and make an entry when EMA crosses over coming up out of a dip (or Tenken/Kijun cross on the Ichimoku cloud if you prefer). If you don't know what these things are search them up on Youtube, there is a wealth of content on there about TA.
Trade the swings using the daily and 4hr timescales, sometimes the 1hr is useful but anything less than this is pointless - there is simply too much noise to paint clear trends.
You are essentially going to be doing an optimised HODL, intending to long the coin but dipping in and out on swings that normally take place over the course of at least a few days, maybe longer.
Once you make profit you can diversify to other coins, ICOs, keep a good chunk of your portfolio in long holds once you have more - BTC, ETH, NEO. The same principles apply for swing trading them.
Ignore this if you want, but for the vast, vast majority of people it will get you better results than forcing yourself to overtrade.
Am i expected to have some investments left untouched in crpytocurrency such as ETH and BTC and LTC or do i just use them for trading? which is the best at the moment
Discord gg 4HNeYW BE GREEN JOIN THE MOVEMENT
Listen to this user. He knows how the game is played. Sometimes the best trade is to not trade.
However if you feel the trader's itch, load up a bunch of EMAs, macd and some sort of momentum oscillator then try scalp like every pleb in this space. But know it's pretty much gambling with probability and is best used once a strong trend is established. In those scenarios you're really just getting a little bit more % than buying and hodling (If you get emotional then you might actually lose more). Also these types of momentum based trading models suck on low volume.
if you start with $1000 and manage increase by 1% every single day for 3 years, you will have over $2,000,000,000 (two billions) at the end
Preach on brother
here's a more current pic lulz. guess when i stopped using good risk management practices?
The problem is that your account eventually becomes too big to daytrade.