/biz/ - Business & Finance

>>14759914

just buy chainlink and hold

it’s really that simple

>>14759926
No, holding alts is like a lottery/VC model

>>14759943

>he doesn’t know

>>14759943
Hahahahahaha he doesn't know guys. Now get of our board you fucking faggot.

>>14759914
>Is it foolish to think I can learn to win at trading?
it's proven most people fail at this attempt

>>14759926
Buy and swing link is the aristocrat tier. You increase your stack - and your stack rises in value. Thats compound compounding.

>>14759914
>engineer, good at maths
still havent figured out why he cant win in the game of probability.

in the trading game: for every winner, there is a loser. the strategy to win changes in every tick. only AI and extremely lucky people can win really.

>>14760099
it works until it doesn't. only swinglink a small portion of your holding.

>>14759943
Already a failure out of the gate.

>>14760115
Prerequisite is knowing how to trade.

Even if you lose a race, as long as you win the marathon you're good.

>>14760074
Yeah but those are retarded boomers right?

>>14759914
Nuuuu engineers no good at trading, lack creativity

>>14759943
Don't listen to the cult bagholders, you are correct.

Anyways you can make money trading but there's reverse selection bias at play: anyone who knows something about building quant models isn't going to say anything and people who don't know anything are going to say stuff.

>>14759914
>engineer
>good at math

That was a big kek. You either have phd level knowledge to create trading algos based on math that are creative, or you have very sharp eye for patterns, the kind of person that can almost do portraits blindfolded, to have a high chance of making it.

You can probably make money if you study hard for years ofc as a lot of people do it, but it isn't free money. It's on the same scale of rarity of things like starting your own business

>>14759914
The only thing you need to know is when altseason starts be stupid with buying and be smart when to sell. That's it. Good luck and make some money.

>>14760186
The reality is its a manipulated and botted market. You can outcompete bots constantly shifting positions and whales/exchanges pumping and dumping.

Learn TA in order to know macro moves, for exits and entrances. Day trading though? Just throw your money out the window.

>>14760238
I'm not saying I can be a quant but trading companies look for STEM majors who can do mental math even for manual discretionary trading IIRC, so they must know people with such a background do better than poli sci frat boys

>>14760280
Those companies would make you a code monkey (nothing wrong with that, money can probably be good) or would hire someone smarter

>>14760280
Well yeah, the "frat boys" have been getting pushed out of Wall Street for years because increased computerization and increasingly complex models

Study a lot of statistics and probability if you want to make it.

>>14760305
That's fine I'm not looking for a job I'm just tryna be America's top retail trader

>>14760280
Don't listen to the bitter anons here. The place is full of people who didn't get to uni looking to play superior. Yes banks and trading companies love engineers, because of the work ethic and mathematical skills. You also likely did some coding during your course.

However the point still stands that you likely won't out compete bots.

>>14759943
Just cash out and go home boss. You are never gonna make it.

>>14760357
Do you think bots are relevant if you're in positions for several minutes/hours/possibly days? Don't they try to get as close to pure arbitrage as possible? So in a way you're not competing with those kinds of bots because a human can't do those split second trades anyway and they're just picking up pennies basically.

Ofc there are probably some other bots that trade price action and indicators on crypto on longer timeframes like humans but who's to say they're any good? If you're just buying every time RSI is low is that gonna make money? I doubt it

>>14760480
If you swing trade on a macro scale you'll be fine. But day trading is bot territory and margin trading at high multipliers is bot and manipulator territory.

>>14759914
Don't do leveraged trading. I was in the same mindset as you and ended up losing 15k bucks. holding shitcoins is the best bet

Only trade pairs you are willing to hold. Always sell when in profit, and take you losses early before you lose even more.
When in too much doubt, just don't participate.

>>14759943

>>14759914
All in Holo

>>14759914
>Why can't it be me?
You probably don't have time. It takes thousands of hours. And honestly if you're already making good money being an autistic desk jockey why bother

I don't see why it's not doable, especially if you can manage your risk & pay attention to fee structures

This is the bitmex leaderboard:
https://www.bitmex.com/app/leaderboard

>>14760951
>https://www.bitmex.com/app/leaderboard
Those guys have to be doing coordinated shit right? They can't be doing that good honestly. Idk

>>14760913
To get financial freedom before I'm super old

>>14759943
Lurk more faggot

>>14759914
you don't realize how manipulated this market is, I believed in TA for years but now it's almost useless your background is completely useless for trading too no matter how smart you think you are. you might get lucky but remember that 90% of trader lose money

>>14759914
If you're not studying ICT then you're wasting your time.

>>14761017
What kind of TA?
The only thing I ever care to look at is tops/bottoms and RSI. The more complex it is, the less I believe in it. I'm not trading right now but I'm right more often than I'm wrong directionally speaking when I check out the chart. Like I'll screenshot $12,000 on my phone and think yeah this bitch is going down. Lo and behold, it goes down. Ofc this is gonna be impossible to do on a daily basis, we don't often hit numbers that are psychologically significant like that

>>14761017
90% of traders losing money isn't that bad odds. With time, it's not that hard to get into the top 5-10% of anything. If traders are blowing their accounts with mismanaged leverage this can be fixed.

OP just try it for yourself with small amounts of money and see how you go.

>>14761094
any TA,how do you predict pic related ? answer: you can't
RSI is super basic so everybody trade accordingly that's why it generally doesn't work

also if you're gonna trade margin for god sake don't use bitmex use https://www.bybit.com/app/exchange/BTCUSD

>>14759914
I have made more money just by buying random shit on Binance and waiting. I literally just went down the list and bought $500-1000 worth of almost everything.

I am panicking a little bit though because I am an American and will be kicked off Binance in less than 2 months. It's going to take so fucking long to move this shit.

>>14761162
Looks bullish zoomed out like that but I look at shorter term charts

Why's it better than bitmex?

>>14761162
Those were highly predictable pennants.

>>14761237
it doesn't look like anything it's just manipulation BS
bitmex is shit because it crash during high volatility event so you can't close or open position, that liquidate a lot of traders
also bybit has a very good support in case of problem

>>14761297
Mmm yeah and this wick surely won't.

>>14760351
>I'm just tryna be America's top retail trader

fucking. kek.

just buy link and retire EOY you dumb nigger

>>14761365
it's not on my chart
margin implies risk anyway

>>14759943
This is absolutely the correct attitude.
Very first step is not getting married to whatever you are trading.
Too many people just believe in a few cons and stick with bagholding.

Have you seen quickfingersluc's videos? He has a trading method that is very effective for longer time periods (base-breaking method) and for small accounts (account-builder method).

He was so confident in his 11 year experience in trading penny stocks, he only put in $300 into crypto, which he grew to $50000 in a year, and NOT during a bull run.

But whenever you ask him about his daytrading strategy, when he posts in discord or slack about his daytrades (i.e. 5-10 trades a day earning like $200-300 each), he doesn't want to talk about it. And the other 2 strategies he talks about in his videos are for slow swing trades (think days or months).

Anyway, if you haven't seen his videos, I recommend checking them out. I'll also be keeping an eye on this thread in case any actual gems are dropped here (other than linkers just shilling "buy link and hodl")

>>14761691
These threads don't get action because biz is a shill board for shilling shitcoins to trailer park huwhite people desperate to play the shitcoin lottery. I wish it weren't so but it is. People who make money rarely share anything because in trading it's zero sum. If you want a non-zero sum game you have to create value in the physical world and we all know that /biz/ is allergic to that.

>>14759914
It's a dumb and inherently risky game to trade, and with crypto there is ultimately not much more profit to be made than just holding
In crypto, although I can't speak for other less volatile markets, the price is manipulate such that months of trading work can get you still BTFO and priced out by a single whale's fat green dildo
Even in the stock market it has been found that literally about 90% of people and hedge fund managers underperform the market year over year, and those that outperform it cannot often do so reproducibly the next year, aka it was luck