redpill me /biz

Is daytrading really just meme?
people have been successful with it so I think it really depends on how you do it
But I got into it yesterday, predicted a downtrend since 8800. I tried to catch falling knives and ended up losing 75% of my entire holdings


Anyhow, what Indicators do you use?
any success?

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95% of all day traders lose everything

5% sure as hell aren't showing you how to make money on youtube

What was the total of your holdings? 100 bucks?

Yes, I'm a poorfag

if you are day trading and you are not a robot it will probably not end well

do the 5% use TA and common indicators or is it all just a meme?

how do I decrease this probability?

Daytrading is a sure way to lose money, if you actually plan on trading then you should do month or 6 month trading, anything less will and you will get rekt by Bots

I would said the same thing myself after losing money
but the thing is
people do actually make money off of it.
how do I become part of the 5%?

don't get emotionally attached to your money

end yourself. that was the worst decision of your life

got it
what else?

well, I have to increase my stack don't I?
daytrading is just a means to an end for me
to increase my stack

don't take advice from people on Veeky Forums

I tried it and suck at it, lost like $100 that way
it's not a whole lot in the grand scheme of things but it made me realize I was delusional about the whole trading thing

some people here actually give good advice
or at least they did before Q4 last year

winners don't quit
unless it's that hopeless

how the fuck did you lose 75% of your money if you predicted a downtrend from 8.8k and we're at 8k atm?

thought I could time the market on the few upswings
I also closed too soon on a lot of my trades
I feel like a retard

Link me discord and I'll talk to you abiut it in person

It is not a meme, but you're going to have to do some of your own research and figure out ho to apply TA well. The most important thing you should keep in mind is that TA is never a predictor, but it does incredibly well at analyzing market sentiment and identifying long-term highs and lows. Your best bet is to do research on TA patterns and try to apply them to previous crypto charts, obscuring the rest and guessing the result. You will learn over time

Also, not everyone does TA well. Lots of terrible charts out there. Stick with fundamentals and you will be fine.

I've made about 2.2k off of trading in the past three hours with the volatility. I'm not even very good at it.

If you don't want to link yours -
discord gg/dgBb7z

How is that possible ? It down trended 10% and you lost 75% ?????
Unless you literally made like 15 trades in a row selling bottom and buying top I don't think thats even slightly realistic.

I don't think day trading is so bad in markets like we had recently. It enabled me to increase my holdings today, even though the market dropped as a whole. I would have lost more money if I had just held everything, no matter which coin it was (I'm not using tether, because that defeats the purpose of cryptos).

Don't go all in, ever. Limit your exposure when day trading- don't risk more than 5% of your capital, and always have an out.

can you point me to where I can learn more about it?

youtube vids don't seem so good at it

I'll upload my order history in a while

teach me

easy buy high sell low but you go the fuck is that hard?

5% won't let me do much :(

do you think we're going up?

unless you are a bot I don't think trying to time every fluctuation ends very well.

>But I got into it yesterday, predicted a downtrend since 8800
if it's a downtrend why the fuck are you buying and not shorting

If you are going to day trade do it on the 4hr candles and always have a reason for taking the position you are taking

I can't find out how to download historical data
I don't know how to work with the api

what the actual fuck?

The point is that you make gradual growth. If you go all in all the time, you risk your entire capital. Sometimes that can pay off, but as you just experienced, you need to be able to walk away from any position if you're gonna last.

This. You need to know what your expectation is, and gauge risk/reward. Reflect on your strategies, keep detailed logs, and improve on them.

cause I'm retarded and tried to catch falling knives
ayt thanks

Jesus, we're not gonna handhold you. If you can't work with an API, don't. Grab a csv somewhere and fuck off to excel.

>historical data
>cant figure out api
>but i will risk everything i have
dude.maybe just maybe this isn't for you

how much leverage do you use?
it's hard to make a lot with 5% on .1 btc

Trade btc/doge it's super easy almost not impossible to lose

Make a temporary email and message me at [email protected] with GuerillaMail. I'll send you a chat link, and we can talk further.

The top day trader on ETORO is up 800% this month, and he's not even buying coins just betting on the at high cost.

then use 50x leverage you twat

just sent you an email
did you get my file?

Yes, and I have replied

How is it possible for bots to prevent you from making gains? If I place a buy order lower than the asking price and a sell order higher than the asking price, will bots perpetually trade sideways until I cancel my orders?

no, they can't

How do you daytrade without getting eaten by the fees?

How do i use MACD? Is it like RSI? I already am using that so is there a point in using MACD as well? Like if there is a divergence between RSI and MACD what does that mean?

Are you trying to trade on GDAX?

you qualify for a rebate on bitmex if you're the maker

No idea. Gdax whale making if interesting. I am tethered atm so I am betting on down

risk management you utter fucking moron

you lost 75% of your stack because you took waaay too much risk

its not a meme, its literally free money

just set %2 trailing stops and buy/sell on RSI crosses

got it
learned my expensive lesson
it's retarded in hindsight

>how do I become part of the 5%?

don't fall for the daytrading meme unless you are part of a group, if you have no friends to trade with you join this discord


bots are for passive income or arbitrage, you don't need them to actually make profit

I'll bite

>RSI crosses
Relative Strength Index crosses? what does that mean?

yep, when the two lines cross buy/sell, has a pretty decent success rate, paired with a simple %2 trailing stop if you get pretty much more than 50% trades correct you're making money