Feast your eyes upon the god of swingtrading

Yeah RSI is extremely helpful. Also look for big support/resistance targets and buy and sell around them.

Cause I'm abit impatient and impulsive, I use the 3 min charts. Gains are a fuckton smaller but it all adds up eventually. I tend to panic and daytrading isn't for my kind but using a smaller interval helps alot. Still lets me daytrade but I get smaller gains.

I live in Netherlands, cashed out 2 times with a 25% tax 1 year and 6 month ago, no IRS on my door yet.

how reliable is RSI though? like how often does this method fail?

Swing trading ven is cheating

Did you pay the tax? If you didn't I recommend you do. Even though the IRS hasn't come to you yet sometime down the line they might. They sometimes tend to let it all add up to when it's an amount that actually matters and it fucks you over even more. Better not to risk it desu.

Are you talking about this view?

Please forgive a dumb user for his question.

I did pay the tax, 1 time fee of around 25% both times.

It has always worked for me. If the RSI is too high, it WILL come down at some point. Take a look at any chart and look at when it moons. RSI isn't a good indicator while a coin is mooning but for a coin on a slight up/downtrend and with good volume it's a godsend.

Relax user, we all start somewhere. That's the one. Can you see the lines at 70 and 30 RSI? That's where the overbought/oversold zones start off. If it goes above the 70, its a good indicator to sell. If it's down below the 30, it's a good time to buy since the price is bound to bump back up abit.

What are your inputs for length and source

It's not that difficult but I only do it when I need to round up my fiat value to a nice number

Length: 14
Source: Close

Thank you kind user, you are what makes Veeky Forums a better place.

it fails as often as it needs to in order to prevent easy gains. you might make 10% on the first 5 coins you trade, then the 6th it doesn't work and it drops 50% without bouncing back.

Thank you user, appreciate it. Learnt alot of good stuff myself here. Pic related is how I've done using RSI and support/resistance lines. This was on ZCL, a coin with decent volume on bittrex and not really mooning or collapsing.

first informative thread i've ever seen. keep it up. any more tips?

Swingtrading is a fucking meme, don't try it.

Good thread

How much do you need to be putting in to be making anything after transaction fees?

i dont know shit about swingtrading but you shouldnt choose such shitcoins, am i wrong?

What are good coins to swing trade? High volume alts during consolidation? eg DGB?

If you want to swingtrade it doesn't matter if the coin is shit or not , all you need is movement.

I'd say minimum 1k, and your trades should be a few percent profitable. It'll add up after multiple trades and you'll be making over a day's worth of wage cucking clicking a few buttons.

A lot. I'm trying to swing trade with ~$700 and I'm barely getting any gains considering the huge risks I'm taking (all in every time).

well DBC is being held by greedy chink whales and they are probably doing the same OP is doing, but keeping in mind they hold a shit load of these coins. everytime is going up, they murder the pump

Liquidity/volume is number 1 factor, and nothing that will most likely shoot up or drop hard soon. I'm not good enough to trade with those kinds of coins and I'd like to not offer wrong info to other people, potentially screwing them over. For eg, ZCL is still moving sideways since no news is announces, price has been bouncing up and down between support/resistance and it has a decent 1.17k btc volume.

What timeline do you use for RSI? I'm using 5m and seeing minimal gains. Do you have any advice?

You did it wrong though

I'd recommend you not to day trade, only put max 10% of your portfolio on day trading unless you really know what you are doing. It's still a big risk and human emotion can come into play any time and potentially screw you over. IMO you'd be better off investing in low cap coins for now or ICOs that look really good/strong roadmap/working product/good team/a proper whitepaper to boost your stack to a sizeable amount.

If you're holding BNB on binance you only need to beat the 0.05% trading fee.

The smaller the timeline, the smaller the gains that you'll see. But for me I use a smaller timeline incase I ever panic trade. 3m interval. That way if I fuck something up I don't lose alot of money. Plus it lets me make alot of small trades which will cost more in transaction fees but are more safer gains. This is just my opinion though and I might be off the rails.

>If you're holding BNB on binance you only need to beat the 0.05% trading fee.

2 times, once for buying and once for selling.

So if you buy something for 0.001500 you need at least 0.001515 to see any profit.

Also, the bigger the interval is, the longer you are supposed to hold between trades otherwise there's really no point in using bigger interval charts. Sorry, left that out on my last reply.

Pro tip: if you have a Kraken account you can daytrade/scalp without transaction fees until the end of the month

lmao retard, its 3% on capital gains

I once had 40k req. It was struggling to sustain 2000 sats. I sold at a 3000 sats spike. 1 day later it was 6000 sats.

When I bought back I could only get 20k. Now Im day trading back to my original stack. Currently at 31k. I will finish in 3 or 4 days. This shitty friday update will give me enough time to get it back.

I made a terrible mistake but luckily Im the emperor of swingtrading, I will update you guys when I get my 40k bqack

Can you be nice, you asshole? This is not a place for mean people.

This.

HODL is such a meme. If you start with 1000 dollars and can make 73 trades of 10% you'll have 1 million. Quick maths.

But if it shoots and drops hard you can make a lot more money, right? You can lose a lot more too of course but on KCS for example I made ~20% in 1 trade once.

is it xaviers school

Depending on your country, trades only count as taxable when there's money involved. Since crypto is considered a common good, you'll only get taxed for your profit when you cash out.

Swimg trading is not capital gains retard

Yeah, it essentially comes down to how much risk you're willing to take. One thing I've learnt since my time in crypto is to minimize risks and losses and gains will end up coming your way itself.

kys

>If

I was talking about 3% tax on cashing out in the Netherlands dumb fuck.

Op should look at the tax laws, he's getting fucked in the ass if he's paying 25%

Trading is taxed as income not cap gains

How long do you typically hold onto a coin for? And how do you know it’s time to sell? Is it just when RSI reaches 70?

Thanks for the help, first useful post I’ve ever seen on Veeky Forums, I want to get into swing trading more but never really knew how

Are you fucking retarded or what the fuck is going on here?

Crypto is not taxed as income in the Netherlands burger, as long as you don't say"I DO THIS SHIT FOR A LIVING" it's not income tax. It'll be seen as investing aka CAPITAL GAINS. Fuckwad.

Then you're wasting time with low volatility coins.

I turned 50k TRX into just under 120k over the space of 3 days swing trading.

babbys first day daytrading

let me know how it goes in a week

I normally get in when RSI is near or above 70 or has done a big run up from a low RSI and rely on instinct. I normally hold a coin for a few minutes but if the price goes up abit and I'm looking to buy, I'll just set a buy order at a price I think the coin will drop back down to. When I initiate a trade where instinct is involved, I use a small amount instead of my normal stack that I use for daytrading. That way, if I do mess up I make a tiny loss. So far it has been doing well for me. Resistance/support lines are also very useful since it's not good to rely on only one indicator.

We all start somewhere, I played around with a small stack for day trading initially and looked up youtube videos to learn about the basic technical analysis tools that I use for day trading. Once I got a good feel for it and felt like I knew what I was doing, I invested more into it.

Feast your eyes upon the god of many taxable trades.

No retard you're the retard.
Frequency of trades moves you from capital management to income tax

See
expatax.nl/kb/article/tax-for-capital-gains-is-it-applicable-in-the-netherlands-and-if-so-in-which-situations-209.html

aww, look at those adorably tiny little gains.

my little boy is growing up! we've got quite the day trader here!

Also, LOOK AT THE ORDER BOOK FOR ANY BUY/SELL WALLS. Forgot to say this at beginning of thread. If there is a big sell wall that has been there for a while and hasn't been dropped, use it to your advantage. Sell at a price slightly below the sell wall, wait for it to drop down abit and buy back in again. Unless volume is really high or strong news has been released for the coin, the wall won't be eaten any time soon. Also comes down to the size of the wall. There is alot of judgement skills needed to determine what the right course of action is in a certain situation since the fundamentals might be the same but there are alot of factors at play that you also need to consider.

it's easy as fuck to swingtrade when you have that kind of money. try to swingtrade as a poorfag when you need to catch 10% dips to make any profit

Doesn't matter only revenue gets taxed. And you get to deduce your losses.

not bad for a beginner. You should try to step up your game and try to get some conversion point gains. they're an abstract type of gain.

It doesn't matter if you trade stocks, crypto or your moms panties retard. See

Did you even read the article ?
There is no set amount of trades that moves you into the income tax bracket.
If you cash out and get yourself a proper tax manager you'll near always pay~3% in the Netherlands.

I mean if you want to pay 52% go ahead faggot, not stopping you.

It' s fairly similar everywhere save a few lucky countries.
But I'm guessing you can still find a grey area with a good lawyer.

kknormie.