Daytrading is profitable if you follow these simple rules:

You predict prices fuckface
t. Data Scientist

Let me guess, just got to your first profitable week in a while and you decided to make a thread about it? You're an idiot preaching bullshit to people who have absolutely no clue what it entails. Pretty sure you're pulling shit out of your arse as well.

Let us know when your account gets liquidated.

Yea buddy I'm in data science too, and I've been doing my research. If you're looking at just market data, there is absolutely no way to get anything better than a tentative conjecture about the price direction even from the most sophisticated ML models in existence.

The market is affected by outside sources such as news of new releases or governments cucking X crypto or Y exchange or something like that.

Jesus Asians are so ugly...

No of course I know nothing, I just wrote my own machine learning app in TensorFlow. But please, tell me how I know nothing.

Fucking brainlet

Why do you assume I'm not using a news API to feed external data into my model? Fuck off.

>follow online guide to set up tensorflow
>not using keras
>probably set up a basic perceptron NN to do MNIST or some shit
>probably isn't even using GPU acceleration

Your knowledge of ML is equivalent to Chad's knowledge about crypto who bought .05 BTC at $17k after hearing about it on the news

>thinking you can filter the hordes of random news, shills, and general bullshit going on in the news about crypto for anything even remotely resembling a buy signal

You're better off just reading the news by hand

>idiots pour their whole life savings in fake currency
>prays for the best
>probably doesn't know you can make money when price is going up or going down

You people will never make it...

You’d be getting a lot of useless garbage

How do you make money when price is going down lol?

Wow such hostility. I've been here since /g/. Started my finance career in FX discovered crypto in 2011. Evolved with a financial engineering degree. Don't get why your mad though. Crypto is easy mode. I've made more money shorting and futures arbitrage than buying and holding could ever make me. This hodl meme doesn't work outside crypto.
It works. But everyone does sentimental analysis arbitrage. Too much competition. Look at McAfees recent tweets for instance. Everyone with a fucking udemy degree could write the bot. Also don't try analysis of the time series. There are big funds and teams, better than you in this case. Learn market microstructure, trade execution theory and volatility analysis and get into HFT on a small exchange. First day I tried this, backtests worked amazingly. I thought there was bias somewhere. Paper trading flawless. Live trading, I didnt sleep two days straight! Just stared at my console while a once class r script printed money. Couldn't believe my eyes.

all of these assumptions you made about me actually made me laugh
you trade like that too? no wonder you're so salty

I do read the news by hand.

Ven at 40 cents
Antshares at 2 dollars
Eth at 50
Xlm at 20 cents
Xrp at 50 cents

Not hard if youre not dumb. Just have a method and a notebook.

Buy XLM. Mooning soon, sirs. Thank me later

Brainlet? Let me post a picture of my car since you kids seem to respect this. Also I own a small exchange serving my country. Imagine the fees.
Why are you so hostile. Take a break. We also don't win most of the time. You just have to win more than you lose user. Sorry for typing to slow. Being tired.

Thank you for the actual advice, I really appreciate it. Time series forecasting has been proving to be really, really difficult, and you're probably right that there are much more knowledgeable teams doing it already.

I've been turned off of HFT because my friends have said you need to know stochastic calculus and other graduate-level math. Will look into your suggestions.

HFT is very beginner friendly. You can do all the dirty tricks banned in big boy exchanges in traditional finance.
Trading and Exchanges: Market Microstructure for Practitioners- Larry Harris. Read it after you wake up and before you sleep. This is your bible. Master the order matching engine. After doing so, you will start seeing the order book with a new set of eyes.

I rest my case...

>Swing trading is more suited for the home gamers
Please teach me or just point me in the right direction senpai

Just downloaded a PDF of it. Looking forward to being able to improve my ability to write scripts to analyze the market

I'm new to trading, trying to exchange small amounts to get a hang of it. Can you explain what do you mean by your post pls. If not it's fine.

a fucking hurricaine

It's called short selling. In a nutshell, you're borrowing shares from your broker at at certain price, and when/if it goes down, you "buy" back those shares at a lower price and the difference is your profit, not including the commission.

That way, we day traders make money even if it's a bull or bear market and not on hope like these shitcoiners.

oh my goodness, she is perfect.

Actually where can I do shorting? I've been looking into it since I've finally broken five figures but have no clue where to do it.

thanks man i'll look in to it

meanwhile i can't day trade because i work during that time, but maybe someday

only reason i day trade is to build my eth stack.im at 0.98 rn from 0.05 after swing and day trading for 3 weeks now. if you have 5+ eths than hodling is obv better

you probably shouldn't be short selling if you don't know what the fuck you're doing

potential for loss is much greater than taking a long position