I have no idea why suddenly a lot of you have ambitions of being a day trader and believe that the crypto market is the place to do it. I've been a proprietary trader trading futures for a prop firm for 5 years and I have no idea why you would see the crypto market as a good option as far as day trading goes. The market is far less transparent, you don't have proper access to order flow and trade data, only recently have you been able to short them via synthetic products, the market is far less liquid than traditional retail options like CFDs. Add to this most of you trade off TA(none of the successful traders I know use TA outside of basic support & resistance levels) in markets that have only existed for a few months which makes them totally meaningless, as well as the fact that your "levels" according to a MACD or some other trash indicator. If you guys are serious about becoming day traders I suggest joining a prop firm where you will learn from other successful traders as opposed to some trade guru online trying to sell you a dream. Before any of you fags are like "bruh you're just mad you missed out on the gains". I've been buying and holding cryptos for a few years now, not punting them off lines I drew on a chart, I make my money day trading in a real market. If you've done well day trading cryptos I have no issues, I'd like to hear your reasons for day trading them compared to other markets. My guess is a lot of you did well on the bull run and now believe you are a good trader due to confirmation bias.
Why trade crypto? From someone who has traded professionally for 5 years
Go all-in on XRP.
This is all you need to know for real.
Ayooooo eat that up fags
When everything is really red I buy when things turn green I sell, then I wait. I don’t FOMO, that’s my only principle. I don’t even know which website people use to make those lines.
Reason that I'm in crypto as opposed to forex or stocks is because it's much more accessible, the fees are much lower and you can start with as little as $100.
>post angry rant
>"i'm not mad, guys"
listen up, son. if you invested in crypto as you claim, you wouldn't need to "make your money" daytrading stocks. 10k in crypto exactly one year ago and no trades would be 100k today. two years ago and you'd be looking at 1 million. have half a dozen successful trades under your belt and you would have gone from 10k to 10m
sorry, but soon or later you're going to have to accept following the crowd is not being smart. either you think for yourself or you get left behind. no amount of fancy words or lavish spending on suits and city cucksheds will change that
So, what makes a good trader in your opinion?
I'm so sick of people acting like trading stocks is superior to trading cryptos.
It's not and it's much easier to make big gains with low market caps
Nice post. I'm in crypto because I'm 25 and work at IT company, so it's sort of field of my interest, something between bigdata / finance / computer stuff. I'm not a pro, just at beginning stages since I'm still young and studying life shit. In crypto I see once-a-decade event like dotcom bubble when you could make great social lift with your thousand bucks (did you had any reasonable savings in your 25?). I just want to don't think about shit like mortgage, car leasing and all this stuff, get my "fuck the money" and dedicate myself to something valuable. As you know, in your 20's due to lack of experience and knowledge people have to do some crazy shit sometimes, well this is whats happening. I don't have any kind of illusions, I clearly see crypto is moving us to quite dark place (could be even end of civilization), but I want to be able to afford myself safe place and activities. I don't like debts, I just need my starter pack of 100,000$ - 300,000$ in fiat, it will allow me to start my own lifetime-long business. If you studied dotcom bubble you probably know this kind of money is possible to make during bubbles.
Could you give us any good reads from your heights of your experience? I've finished 3 books of Taleb, but anyway even after 2000 pages of his ego I understand this is just a little deeper than surface level of actual shit happening on a markets. Do you have something to share with people who are 1-2 steps behind you, but will not be your career competitors?
Haha you really are a bottom feeder. Woah man 1 million dollars! You're set for life. Judging by that sentence and your bravado about being a lone wolf I can tell you have no idea what you're talking about. I'm 26 years old if you think I'm going to spend the rest of my life living off 1 million dollars I made in crypto you clearly have expectations of a mediochre life eating cat food for the rest of your days. I can also tell you're new to investing/trading as a whole where you look at historic prices on a chart and jsut assume you would've bought the exact low and exact high. I don't wear fancy suits you dope I'm not some broker you saw in the movie Wall Street or The Wolf of Wall Street. You really have no idea what you're talking about.
Once in a lifetime event.
1)Discipline- To show up even when you don't feel like it, not letting performance influence your trading(particularly when you have a down day)i.e.not doing that next trade because you had a string of losing trades, sticking to your trading plan
2)Work Ethic - Constant desire to get better
3) Staying calm & collected - not shitting the bed when the market isn't going your way/making rash decisions
4)Market Reading - Pattern Recognition mainly
5)Mindfulness- Being aware of your state of mind and how that may influence your trading
I recommend researching and holding coins you believe in, but if you are keen on day trading them I recommend watching them until your eyes bleed, screen time is very important in understanding how a market trades and getting familiar with it. What specific areas do you want help with as I said I don't day trade these markets so can't give you specifics but can give you more general advice.
the activity to aquire coin is irrelevant.
it's the ability to get coin without being wagecucked that is so interesting for most new traders...
fuck off, wagecuck.
>Calling a prop trader a wagecuck
You literally “work” in the same field. You imbecile. You absolute fucking moron.
Seriously, I’ve already posted a reply and I’m still staring at your comment because I can’t believe somebody so braindead could actually exist. You absolute dickhead.
Thanks for advice, will take it
Nice FUD, not investing in your state-controlled stocks and fake government money tho.
In crypto you can can 2 figure % changes in a day. Stock move like 0.1% in a day...
what's your take on the s&p OP?
when do you enter & exit a short position?
i've exited the s&p because of P/E levels but idk if it's time to short
HAHAHA prop trader-wage cuck. Nailed it man! Prop traders receive no salary their income is purely dependent on their ability to make money in the markets and then they split profits with the prop firm in exchange for the prop firm providing significantly more limits and margin to trade with.
Lol it's not FUD I own cryptos why wouldn't you, there's some great opportunities to make money. I just think day trading cryptos is for chumps.
I have no intention of retiring from trading (and I don't daytrade at all, I make like 2-4 trades a month and obviously they're not all good). It's just a hobby I can put pennies into as opposed to having 5 contracts of oil and needing to find another hobby because it's tied all my money. And yeh I use TA, drawing lines and looking for safe zones is relaxing, I don't know what to tell you. I think that purely holding is suboptimal but whatever you like fami.
i'm curious what the inside is like. Is it a mix of FA & TA? insider whispers?
or just anything that works and its chaos?
all positions closed end of day?
are you the guy robinhood sells my orders to?
I mainly trade bond futures but obviously keep an eye on S&p futures because they're connected. The correctionj in early Feb was signficiant and there is quite a lot of headwinds for the coninuation of the bull market(market expected to digest 4 rate hikes this year and the recent trade war FUD). I'd be on hold for now but DYOR.
Because the future of day trading lies on unregulated markets and I want to gain all the experience that I can.
I can't speak for all prop traders or all successful retail traders, but the profitable day traders I know majority of us focus on order flow and reading the tape. This allows you to get a much better read of where significant buyers and sellers are and can position yourself accordingly. We have access to DOM ladders with the software we use which you can't get trade crypto markets. General TA of just support and resistance levels is not bad to keep in mind but I don't really trade off of it, just look for what the flow is like around these prices.
How much (%) can i make/lose per day as a smart but very amateur day-trader?
Why does it lie on unregulated markets?
How long is a piece of string?
Because everyone knows that inside trading rules Wall Street, so all those false pretenses are going to be torn apart, leaving only the real gamblers playing with shit like stocks.
>he market is far less transparent, you don't have proper access to order flow and trade data
What do you mean? You can access order flow and trade data via any good exchange's API
Unless you are talking about level 2 stuff which doesn't really apply...
most exchanges give depth charts, dunno if that's exactly the same as a dom ladder.
i did day trading for awhile, but I gave it up since it's emotionally compromising.
i just buy & hold now, swing trade a little.
Wall street is already involved in cryptos, a lot of institutions are. Sorry to tell you.
Cause it's easier?
No need to TA, watch chart or other shit.
Just wait for the dip, buy, set sell order at 5%-15% profit, go to sleep.
Or easier, sell the news, just like what happened to ICX and Req
With the trend shifting away from Bitcoin, its time to invest in Street Hawk Coin and get more benefits. www.streethawkcoin.com
Just type in DOM ladder into google images you'll see what I'm talking about. You see bids and offers in real time and trade data in real time not delayed, you get a much better of what is happening.
I am actually 50/50 XRP and LINK
don't see the usefulness in most other shitcoins desu
lets see how it works out
this. Jesus you retards need to stop overcomplicating things for yourselves.
DOM ladder looks exactly the same as gdax polo bittrex binance etc order books, but with a child-friendly user interface???
I don't feel i can beat a 0.25% fee over the long run.
pointless when the house is the only one winning.
Okay, we'll see how well this strategy works over the long term. Market conditions may change.
When he thinks he's actually getting live data and has a good connection to the exchange.
>Fedora cringe edgelord projection the post
>autist sucking boomer larper cock the post
Hey boomer faggot, stop shitting up the board with your faggoty boomer larp. Everything you type is cringy as fuck, we get it your balding, dick doesn’t work and your fat.
24/7 markets mainly. Traditional markets move too slow for my tastes.
The other big thing is I like having direct control over the assets, being able to store in a private wallet, ect
His dick is balding? Damn dude
Do you feel good making fun of people with disabilities?
You can too get DOM index in crypto, you just have to program it yourself atm.
Listen you fucking retarded Down’s syndrome turbo faggot nigger Jew kike shitskin street shitter, virtue signaling doesn’t get upvoted here by your other aids ridden tranny friends. I think you might be on the wrong website.
haha I'm 26 cunt, I'm not some boomer faggot who doesn't believe in cryptos I just gave my thoughts on day trading them. Nothing wrong with buying and holding.
Yeh good point about having access 24/7 futures markets are open 24 hours but only 5 days a week.
etrade, tdameritrade, scwab, fidelity, etc. fucking bullshit minimum account bal to start. shit fees on trades. can't margin.
Just buy the dip bro
as someone with serious disabilities in life....
shut the fuck up.. I dont need you fake caring virtual signalling assholes going around trying to pretend you care and trying to speak for me or in my name. Fuck off you weak ass bitch.. cant stand your kind and your constant we speak for others that cant speak for themselves. You dont get to decide that and you sure as fuck arent morally superior.
take your fluffer ass back to plebbit and go get your upvotes for your fake ass caring act.
>fucking retarded Down’s syndrome turbo faggot nigger Jew kike shitskin street shitter
>I trade futures in a highly competitive professional market
>Why are you nerds trading in a market clogged with retail investors, idiot pajeets, and NEETs?
stay out of crypto old man
My biggest if for crypto. I know pros work with t3+ data with .03 MS delay. My connections are properly tunneled vpns with about a 2 MS delay. Know 1.7 MS difference is an eternity in competitive markets.
TA is applicable to crypto in ways more than it is to the stock market BECAUSE there are less fundamentals at play here. I have made roughly 300k in crypto and its because the volatility is something to take advantage of.
Bigger swings, almost no registration
YES GOOD GOYS KEEP DAYTRADING MISTER CZ HAS TO MAKE A LIVING
Your speeds aren't that bad desu
As long as day traders exist, long-term investors are going to benefit.
I don’t day trade I just meme dumb NEETs into thinking it’s a good idea with a fake blockfolio kek. I just hold a few grand in cryptos and I’m down on my initial investment but that doesn’t stop me from LARPing as a crypto old fag who has made 750k off a 1k investment 4 years ago. I also go to other boards and LARP as a self made millionaire NEET day trader while shit posting from my office job to piss off other wagies and make more dummies get into crypto.
I think my idea of day trading is diffferent to yours. How active are you are you trading in and out of positions in less than hour or more swing trading? My point about TA being fairly useless was mainly about people using it on cryptos that haven't been around long enough to establish signficant levels. A lot of newer trades fall into the trap of volatility being good. It works both ways. We trade lower volatility products but instead focus on trading larger volume where we can get rebates from the exchange and lower our cost of trading. Sounds you like you've done okay though, have you been able to maintain emulate your returns over the last 2 months though?
BASED LARP POSTER DOING GODS WORK
kek, thank you for sharing
I also used to trade but got burnt and stopped. Stupid market full of sudden dildos so big only your mom could take them, dumping insiders and exit scams. No thanks.
Crypto is the future though. The internet revolutionized communication and entertainment, currency is next. Globalization is at its max, fiat is unfair and outdated. A market of competing global currencies is the obvious outcome.
>Why trade crypto?
Because there's no entry barrier to it. It's idiot's first "stock"
setlle down kid, i'm trying to help you here. you're still young. you have the time and the brain plasticity to fix your mistakes. but first you have to put aside your ego and forget your proprietary trading futures nonsense. buzzwords will not bring you success. you need to sit down and look at the actual numbers instead of daydreaming. $10m as a conservative result is not $1m maximum, and none of the figures i mentioned use tops and lows of charts. you could and should check that information yourself
you've wasted 5 years of your life, but there's always lessons to be learned from failure so you do the right move next time