Why do you still have a day job?

>not moving somewhere with no capital gainz tax

i am highly skeptical of day trading. i think it is much much harder than most people think to do it properly. It is more than managing money and picking right, it is loss prevention. Managing emotions and sticking strictly to a trading discipline. I think markets are by and large far to unpredictable to be able to draw up an accurate framework for betting on them with consistent results and over the long run this will erode any profits you might make.

despite my previous jackassary in this thread i am open to the discussion and willing to be proven wrong, but like i said i am very skeptical

this

fees, commissions, taxes make it absolutely not worth unless you know what you're doing. I'm not good at trading so I don't touch it

It's definitely not something just anyone can do- realiistically you probably need the same kind of mindset as a normal institutional trader to do it, which makes you wonder why traders in Goldman or JP don't just do it themselves if it's so profitable.

That having been said, it is the crypto NEET dream taken to its logical conclusion- complete financial independence by doing something fun. I'm willing to give it a go, but I need to make sure I'm making consistent profits before doing so

Because a job gives one some routine and purpose.

Even if I become a millionaire, I would prefer to own a business and manage things and interact with smart people rather than sitting at home, which is equivalent to being unemployed.

Don't do this.

Keep your day jobs people. Cut down your hours if you must, but maintain a link to the normie reality for your own mental health.

You are right, risk aversion is what most dumb faggots don't give two shits about. People wanna make money quick and never think for a second that their primal focus should be on keeping their principal as compared to earning returns on it. People who believe that there is no way you can make money day trading are wrong. You can, but for it to be a continuous and constant you will have to do an enormous amount of work. There is no such thing as "hours". You gotta be always fucking on it. If people actually traded the way they should, 99% of them would beg their bosses to come back to their normie jobs.

because i like the field i'm in, the people i work with and the technology and equipment i have access to

i would need at least 15M to have that equipment myself and i couldn't buy the time with people

Broadly speaking people don't day trade at big banks, systems do. People are only required for their insights. This shit is a complete science. To get an idea of its complexity just consider this that the guy who did make an actual program for extremely profitable trading had a Phd in Mathematics.

Afaik algos tend to be used for more simple instruments, things like derivatives are largely still done with at least some human oversight because they're more complex

Not sure how long that'll last though, even crypto futures are starting to see algos creep in, despite the insane volatility

>keep your profits
>the harder you work, the more you earn
>make your own hours
>work from wherever you want
>as many holidays as you can afford
>no one deciding your life for you
you can do all this without being a full of stress zero-sum gambler, and actually providing something of value by starting businesses

What do you guys think of platforms like CoinFi? It launched a few days ago but claims to be the Bloomberg Terminal of crypto, with insights and algorithms for traders. Only coin holders have access to it, so I haven't seen it in action. Anyone have any insight?

Yeah I hear starting a business is very relaxing

All the holidays you could want, too

The books really don't help.
I lost 350$ cash before I finally learned how to start making money in crypto.

Look up jim simons and renaissance tech.

That's who you're trading against

It depends on the business architecture you design, but yes, on average I would say business owners have much more holidays than day traders. Realistically it's much easier to make your return on investment from less starting capital to live how you want, and it's much easier to automate.

Volatility is not a factor which reduces the efficiency of the system. People who use HFT platforms actually love volatility because these systems perform an exceptional job in unstable markets. The returns of HFT platform using institutions were really huge in the market crash of 2008 and the years following but they dropped down almost exponentially when the markets became more and more stable.

This^

You're trying to beat mathematicians and computers now.

Use leverage friendo, I do the exact same thing here.

I post here a bit on platinum and make good gains, I'm also trying to help and train some people so they're self sufficient gains makers.

Discord is: xxxx.gg/wdxGh8a

xxxx = discord.

I might start to try and TA bitcoin as I was correct tonight on BTC and ETH, so I think some things do apply.

With platinum I have a autism ratio of 80% with a few hiccups that cost me a bit, but one other guy from the chats turned $200 into $2300+ in 1 month which is pretty good, all because I'm helping people out.

I am going to bed soon so hope in and even if you want to stay afk and look at the autism when stocks open next week that's cool too, we have 32 people in there now.

I use plus500, I herd market.com is good also, I just think it would be cool to have a chat of people that have made it on their own, cause what else are you to do when you have money?

Jumped on my laptop, so no trip but come have a chat, we don't just do stocks there, it's crypto too.

It's a comfy place to be.

I have been NEET for so long I cannot seriously imagine trying to fit into society again

>platinum

You trade metals? Or is it a platform?

>Play videogames for some hours
>Make $2300 in a few days

If you got $100 spare or more and join the discord It would, depending on the market x20 your gains in a month?

The metals. I find it's a slow mover but makes me gains because it's pretty predictable for me.

most people here are too young to understand day trading though.

Provide an ELI5 then?

Quit last month at 23 but only plan on taking 2-3 months off to focus on getting fit im still up 3x since December

I'd been thinking of trading gold and silver futures, come to think of it.

Is there anywhere decent to trade metal futures online? Or do you need to go through a broker?

too fat to walk out

Well I use leverage, which is great, come talk to me on the discord this post might die soon.

I'm working on it. I'm a math student and everytime I can I go to finance classes. This semester I'm studying derivatives at school. I have a day job that is not too bad and gives me time to trade and study. I believe I will make it if i study enough and work hard.

good luck user

Kek

Would anyone remake a daytrading thread?
Getting really fucking tired of these pajeets shilling their bullshit hardly there's any useful threads on biz

because I was a sub 3.0 student from a nontarget school who got into investment banking/Private equity and making $86k my first year in Los angeles living rent free

>next steps
>MS Finance
>MBA
>lateral further into PE/IB, or network into Mckinsey,BCG, or Bain as management consulting

>putting all my eggs in one basket with crypto
>not doing everything

dorks on this board

Because, I am the boss?

Aren’t you Americans worried about the tax laws that come with each trade?

Because I work at citadel

Where can I daytrade if I'm not american, and can't use robinhood ?

Teach me your ways user

I had a day job, it consisted mostly of looking at charts and analysing them. Now I day trade, also looking at charts, just for significantly more money and whenever I want. It's alright.

Don't have a job so i'm day trading atm. Poorfag so my stack is small. Some days are long and slow as fuck (like today), sometimes I wait 2 hours for a good trade and get 1% other times I make 10-20% in an hour across multiple trades when things get moving.

Basically working for minimum wage, but the upside potential is kinda exponential if I keep going consistently so it feels like its worth a shot for atleast a month.

pic related. was best single trade I made yesterday when btc bounced from 7.5k

Come join the discord, and i'll try my best.