I keep seeing this meme that daytrading is "only for extremely skilled and intelligent traders", but I consider myself a brainlet (about 130 IQ), and not much experience with trading... And I'm getting more gains from day trading from than when I hodl'd.
Why? Is it just an old meme that must die already, or I've been just lucky?
Give it a try with 50 dollars and find out.
It's not hard as long as you don't get greedy
You need a solid RSI-tracker on tradingview. If you have this you can't lose with daytrading. Add leverage for more fun.
It's not hard. Just buy whenever any coin of interest dips significantly for no reason.
There's no such thing as an intelligent crypto trader. No coin on the market is useful for anything practical. Nobody reads or follows what any coin supposedly does. Just buy low and sell high.
>but I consider myself a brainlet (about 130 IQ
I doubt iq has much to do with your ability to daytrade.
If you're trading with babby amounts then you're basically gambling because you have absolute 0% control over the market
This is the most retarded post I've ever seen on Veeky Forums.
how does a "rsi tracker" differ from the built in rsi indicators on tv?
>but I consider myself a brainlet (about 130 IQ)
>Is daytrading *that* hard really?
No. I consistently make at least 1% a day
theres no right solution
when a moon mission like november/december happens and you sell out at the 6k ATH as a daytrader would and then it doesnt go down from there, it moons right up to 20k
prolly sucks too. that being said, i also made more money daytrading than holding
> Hi guys, how do I buy low and sell high?
> Do I buy low and sell high? Or buy high and sell low?
> I have 130 IQ by the way, which is believable because it takes a 140+ IQ genius to understand buy low sell high.
Yeah, I dont get it. People say hur dur, buy the bottom, sell the top, but how to actually sell at a bottom? How do you know the price wont increase right after you sold?
I'm too dumb to daytrade so I just use a bot.
>how to actually sell at a bottom?
People do it all the time. It's easy.
When other people are talking about the great deals to be made buying things and everything is on sale you sell.
>How do you know the price wont increase right after you sold?
You have to evaluate for risk your potential upside and potential downside. If you determine the risk is worth it you pull the trigger.
how to sell at top* lol
I actually just stumbled over one which was already programmed and I added it to my favorites. This little piece is bringing me lots of luck.
Holy shit user, what indicators are those?
the biggest mistake day traders make is using small amounts
Put down 10k and youll cum over 1%, while putting 100, youll want more return so you wait too long to sell
Nice, you beat the market. Or broke the backtester.
how do you guys find a coin which swings a lot and you can make a few 1% on ?
what does it do thats different from normal stoch rsi/rsi indicators tho?
I want to begin learning how to trade, but I live in the US, so how am I supposed to do this shit without getting raped with taxes?
You don't LMAO
...
Does anyone on the internet have less than a 130 IQ? It's always that fucking number exactly, too. Fuck you pal.
Moon-chasing is not 'day-trading'
trade on BitMEX using a VPN and a false name. No KYC on Mex.
>17 fucking dollars
just buy low and sell higher
just make money and dont lose money bro
how does one get a bot? Is this something you programmed yourself? What would you recommend one looks into in order to facilitate something like this?
I have an IQ of 46 and what is this
Probably nothing, I actually haven't researched further into it because it works good enough for me. I have no idea of mathematical economics whatsoever, I just more or less know what RSI means.
You’re always lucky until you’re not.
Does amyone use cex.io to trade ? Anyone has experience with it ?
does it have something to do with upside down tunas?
the only people who say day-trading is hard are whales who don't want you to take from their pie
OP here, time to answer.
To me it was quite the opposite. Started off with $100, hodled for a few days (two weeks maybe), lost about 5% in the end. Then I put in more $100, and I'm up 10% in a couple days just meddling around with Binance.
so you're one of those fuckers, kek
>put up offer at "x"
>bot puts up offer at "x-1" satoshi
>repeat infinitely
it's kinda fun to fight a bot desu
It could be so.
There are anons with 150+ IQ. But I think they're so autistic they hardly ever post.
>Just buy whenever any coin of interest dips significantly for no reason.
That's kinda what I do. I know the average price range (max/min price) of about 3 coins, and when one of them isn't doing so well for daytrading, I switch to another one that's close to the min price. I'm aware the price can change quite suddenly, that's a risk I'm wiling to take.
Most people are not suited for it, however most of biz seem to be intj or intp (in b4 bullshit) who are statistically more likely to be succesful traders.
50% of profitable traders tested intj in one study.
i love these things, you dont even need to know shit about how they work just when they start making scary looking patterns, buy, and when they make nice patterns, sell
>50% of profitable traders tested intj in one study
No fucking way.
which coins are you hustling rn?
What exchange do you guys daytrade on?
I've been doing Kuckcoin but their volume is pretty low. Was thinking binance but I dont really want to mix my day-trade funds with the coins i actually want to hold (yes i know i should use a wallet but my stack isnt big enough yet to justify all of the withdrawal fees)
Any ideas?
wow
>being THIS retarded
ENTJ trader here. Day trading crypto is definetly not my forte. I can read indicators, and the market somehow always does the opposite of what I do. there's definetly some x files level AI bots involved here
how to spot indicators? what to look?
Well I'm a INTP, with a T/F rate of 50/50. I can be a little emotional at times in personal life, but I have the skill to be quite objective when it comes to trading.
>. I can read indicators, and the market somehow always does the opposite of what I do
No you can't read shit
you use a %2 trailing stop, that's what you do
RSI, MACD, check different time frames and make a decision
This is phenomenal, I can channel my autism into gains. What a time to be alive.
Thanks for the link kind user.
it's piss easy in a bull market. (get in a bad entry? just hodl, some idiot will eventually buy your bags).
risky and hard in a bear market where you have to margin/short for gains. over the long run though if you want to trade properly with big amounts you're supposed to employ proper consistent strategies like hedging.
How do I into bots?
brainlets lose money day-trading, that's about it.
if you do it right then nothing to worry about, literally you just need a strategy that has a greater than 50% success rate and you're pretty much there
>make a decision
And therein lies the problem.
haasonline, you still have to know how to trade and program the bot with your trading strategies
whats a good strategy? how to form a strategy?
lmao, if you had 130 IQ you would probably understand math and market irrationality and realize you're playing a dangerous game which will eventually end with you losing your money.
Fucking plebk3k
I have two coins, one lower per share and another higher per share. I was flipping CND and AMB back and forth. The best is when a lower per share coin sinks and the higher per share coin goes up. Sell the coin going up and buy more of the one going down. You buy the reversals. But it's best to do that when you have more money in it.
just lots of research and understanding.
I studied for a few months and came up with my own custom one, back-tested several variations and am happy with the result.
A decent start is simply buy/sell on stoch RSI crosses with a 2% trailing stop on both. Its almost guaranteed to be profitable.
form a whale group with your buddies and pnd shitcoins , day trading with pocket change is a waste of money and time
Idk, it's not that irrational as I see it. Just look at the numbers, get the feeling of the market and you'll be able to tell if it's a good time to trade or not. You'll eventually come up with certain strategies, like being careful when buying close to a sell wall or how to handle an annoying bot.
That's actually quite interesting. Did you come up with that yourself?
whats enough currency to make a decent profit? I have a total of about 200k in savings from wagecucking. Is 20k enough?
>tfw no other purpose in life
checkem
but also give the name of the indicator, mine is kind of fucked
Do it for 100 days and then assess your performance.
I might. Screencap this.
if you don't know what you're doing that 20k will disappear instantly lmao
if you manage to find a pnd that isn't just hustling you, then maybe its enough. I would just find a good day trading strategy desu, that way its only you and you're not relying on other people that could fuck you over.
i.e. "hey whales join this pnd group" oh awesome I have 100k lets do this, you pump a coin, its going great, next thing you know bigger whales dump and you hold their bags.
Look up cctx library on Github, you will have to know how to code and you will need a trading strategy.
But after that it is free money if your trading strategy works, also don't pay for a bot when the resources available are free.
I do this with ENG and NULS. Their price goes almost hand-in-hand. Usually ranging in 10-20% difference. NULS on higher-end of daily high? Swing to ENG and vice versa. Hasn't failed yet. Might change with the NULS mainchain launch tho and general news.
Verified by dubs
Lmao none of the brainlets in this thread know pine. You’re putting down 100% of your equity in every trade.
God I hate this board.
>haasonline
>cctx
I'll have a look. I'm familiar with programming, biggest challenge will be the strategy part.
Thanks anons.
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It IS possible for some to make money day trading. But a vast majority wind up losing everything.
Remember, if something was easy, everyone would be rich.
If you go in with big bets, if you trade on margin, or if you stop to go to the bathroom, you might as well flush your money down the toilet now.
The future for nearly every day trader:
there was a thread the other day which will help you get a good strategy.
As I said it, hodling - and I have very strong hands - has only led to my portfolio slowly decreasing over a few weeks. Could be because of the bear, I don't know.
I don't mean to imply that the way I make money is the only correct way, that is absolutely not the case.
If it were possible to day trade people far smarter than you or I would have figured it out and the market would adjust accordingly. The best strategy is always to buy something you believe in and forget about it for a while. However this is a testable hypothesis. Put $100 into something you believe is undervalued and hodl for a month and try day trading with another $100. My guess is that the hodl will outperform (unless you get lucky and stumble onto a moon but that's a confounding variable) or that day trading will give you a slight advantage but not enough to justify the amount of time you spend staring at charts. You also have to consider that day trading might not scale. I could confidently throw $100 at anything because if it went to zero I wouldn't even miss it. However, if I was trying to do it with my life savings I'd be a nervous wreck. Ymmv but I'd say try testing with $100 day trading vs hodl, then progressively up the amount if you're successful.
So far all my "daytrades" have been terrible, my TA sucks tho.
Lost around 20% of my portfolio playing with fire.
On the other side, my best trades have been related to hype, buy when something has hype and sell before it pops.
>but I consider myself a brainlet (about 130 IQ)
>I consider myself a brainlet (about 130 IQ)
Wrote this before I read your reply but still applicable I think it's important to consider what your time preferences are. If you have say 10k in crypto today, there is little doubt in my mind that you will be a multimillionaire within 5 years (obviously can't see the future but that seems reasonable). I don't think you'd even have to invest in anything specific, some things will do better than others but crypto is the future. You only really need to avoid the obvious scams and try not to buy something at the ath.
Look at the historical data for eth for instance. I remember when it peaked to $20 the first time and crashed. People were on suicide watch and the project was declared dead. Obviously hindsight is 20/20, but if something was a good buy when it was being pumped, it's an even better buy when it's crashing.
You might also just be pricing your investments wrong. Sat fags get a lot of shit here but they're right. If you believe something like bitcoin is the future, it's entirely possible to make money in dollars and lose in sats or gain in sats while losing in dollars.
I doubt more then a handful of traders beat the market last year. Hodling and finding good icos are the best way to make money.
When I imagine a crypto day trader I think of some loser who HODLS and thinks he's trading or some ass hole who jacks off to his TA charts and cries when it fails.
All of your 130 IQ and made $20 you must be a genius
>youtube.com
HOLY SHIT!
What a perfect illustration of the 5 steps of grief. Like text book perfect, I thought it was going to cut out before we got to acceptance but he got it in there right at the end. This video was truly beautiful.
how much would you need to make a PnD? I mean we're talking 16k btc traded a day. 1% of the trade volume would be 1.2 mil
youtube.com
don't miss out on this guy he's very good at TA and knows how to daytrade without bullshit
^ guy says himself in the long run ... investing beats trading every time
I tried day trading with roughly 1/2 of my stack in December. I know for a fact that I am significantly smarter than average because they tested my in school. The problem isn't that it can't be done, it's that it's impossible to time shit.
>initial investment ~8k usd
>purchased 35k link @ .23
>17k link put in cold storage for forever hodl
>used the rest to throw around
>jumped around between ufr, hat, bwk, trx, xvg, ltc, etc, xmr, xrp, poe, posw, bcpt, and others that I forget buying the dips and selling mini peaks
>never held for more than a few days
>peaked at ~40k usd in early jan
>currently at ~11k usd because of the correction
If we exclude the current dip as an anomaly (can't go up forever but we're still in the early days), I 5x'ed my money in less than a month. The problem is that valued in link, my portfolio is only worth 32k link. In other words, simply holding link would have been more profitable. Further, by not holding for very long I missed several opportunities like odn, posw, xrp, and poe. I held all of them before they exploded but sold for a measly 20-50% gain.
Perhaps this is too small of a time frame and the crash messed it up, but this is proof to me that hodl is a much more valid strategy.
You don't fucking PnD things with high volume unless you're fucking Moby Dicks
but how am i going to make a price swing if i dont have the funds mang
>>Not prepared for losses
Come back tomorrow afternoon and give us an update...
Why invest in quality projects then do some trading within that holding between it and BTC?
I meant why not invest... etc
130iq is about 98th percentile
1% a day
>mfw I make 1% trades all the time day trading.
Legit day trader here basically only swing trading, on a good day I made ~30% on what I have on an exchange on a bad day I lose 2%. AMA
Wouldnt the taxes go really high and youd have to put serious effort into figuring out what you owe?
1. How do you trade in this fuckin bear market
2. do you use rsi to trade or what'
3. do you swing trade eth to usdt or somthing else
