daytrading is an awful addiction.
>tfw daytraded 80% of your holdings away
it's stupid. you should have stopped when you lost 20% of your holdings not kept going until you lost 80%
I'm planning to start daytrading and I want to know about your mistakes. What exactly was your algorithm?
Buy high sell low
Buy high, sell low
literally this. dont fucking daytrade in a bear market like me
Oh cmon that wojak is just rude...
I literally started daytrading two weeks ago
Turned $800 into $600 in a week
Decided to do some research over a few days and throw the entire $600 of BTC into a long-term promising crypto (won't say which)
HODLing is definitely more my speed
Day trading is a retarded idea if you really don't know what you're doing.
If you lost 80% today, congrats. If not, everyone is getting fucked right now, the only ones who aren't are those sitting on the sidelines.
I seriously hope you mother fuckers are taking advantage of the Veeky Forums stock chatroom
stock/crypto/programming - education
nah this is over a few weeks, but no way around the fact that I'm retarded.
it's never too soon
shame, I'm up 15% and I started messing around this week.
the best way to start is not to use margin, and also to watch for large dips like the recent one we had, put your buy order slightly under resistance if you see it breaking it, and usually there's a 100-200 dollar bounce up. don't get greedy and get out when you can.
yeah bitmex is fucking cancer, pretty sure it gets shilled by paid promoters trying to get money out of brainlets.
Never too late to kys
how the fuck can you be this bad, just sell high buy low retard
Wheres your shotgun?
Im sure you'll keep it up indefinitly and absorb all the money in the universe.
Can you trade only by watching the order book and hardly ever look at a chart?
Paper trade until you really trust yourself. Or do it with real money for a paid education. It's worth it, but the mistakes? All of them. First wins, positions too big, taking profit too soon and letting losses ride too far, doubling down on ropes, trying different things too quickly, disregarding conditions... If by some miracle you end being remotely aceptable at it you'll realize it's mind numbingly boring. There's excitement but it's boring and time consuming.
And to the niggies saying they're just going to hold, careful believing you're something you're not if your plan is to sell it.
>just sell high buy low
this literally doesn't work
every time you try this thing it fails
only viable strategy is buy high and sell low
I once lost 30% of my holdings primarily because I was trading with to large positions and kept changing my mind.
If you think it's going down and you sell, be patient. Don't just fomo in at 3-4% loss just because you missed the top. Be careful with margin trading and use low leverage x2-5.
Also you don't have to be in the market 24/7, if you ever feel that you HAVE to be in the market then just buy and hodl because its a recipe for bad trades.