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/biz/ - Business & Finance

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19096212 No.19096212 [Reply] [Original]

Hey.

We always see stories about "I bought x 2 weeks ago and it has gone up 4x in two week" lately, but something I have NEVER seen on /biz/ is some anon talking about slow, steady, incremental gains he's made using high liquidity exchanges like Binance.

Does anyone here have a large(ish) amount of capital, and make a wage trading 2-4% bounce zones on binance? Is that whole style of trading completely owned by market makers and bots at this point?

>> No.19096245

>>19096212
there definitely are lots of those types on here

>> No.19096261

>>19096212
Data mining nigger

>> No.19096264

>>19096212
Lots of people day trade successfully. We, goyim, are not among them.

>> No.19096293

>>19096212
I do using using dapps, flipping shitcoins has never been easier or with lower fees.

Post sister's tits & I'll tell you which ones

>> No.19096342

>>19096261
I'm asking because I was lucky in the recent run ups to amass quite a bit, and I'm looking for a safer way to gain alpha. I notice that the big boys (ETH, BTC) very predictably enter channels for hours, sometimes days at a time with multiple bounces off the same level.

Does anyone have any stories to tell about doing that?

>> No.19096366

>>19096293

Flipping shitcoins on the DAPP's is how I made my current stack, but the slippage is killing me now. I'm probably going to allocate maybe 10% for moonshots on Uniswap.

>> No.19096396

>>19096212
The bogs do it in their spare time when they're bored

>> No.19096407

How do you daytrade bitcoin? Wouldn’t you lose most of your gains to fees and the rest to taxes?

>> No.19096626

You can make more money trading on Saturn.Exchange and Flame.Exchange

>> No.19096677

>>19096407

I don't live in America, and we don't have that retarded tax here.

Regarding how I would want to trade:
1. I want to hold Eth for the long term, so I won't have the complexity of needing to keep an eye on USDT value if I miss a short oppurtunity and hold on a downswing.

2. I probably won't trade for BTC

3. The binance fees are pretty low DESU, 0.1%

>> No.19096681

>>19096342
Glow harder

>> No.19096714

>>19096626

What? I just checked those out. One is not open yet, and the other has literally 0 volume. Are you a bot?

>> No.19096735

>>19096681
At first I was like what, but then I read my last sentence. lol, it looks bad.

But look, all I want to know is if anyone tried it and FAILED miserably, and more importantly, what went wrong with it. (You're not on the hook for losses when it's comes to tax AFAIK)

>> No.19096811

>>19096714
If by bot you mean some pajeet getting paid 1$/month to copy paste this, them yes

>> No.19096817
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19096817

>>19096366
Mein nigrrrr
I keep slippage to a minimum with an dapp built on uniswap, also sets limits

>> No.19096932
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19096932

>>19096366
If you really have balls use dydx for up to 5x leverage

I haven't because imma faggot

>> No.19097173

>>19096407
kraken fees arent terrible and get better with more volume like ~.25% but dont know if thats good relatvie to other options

>> No.19097327

>>19096212
Sure...
Made about 2+% daily for over a week.
Then the coin fell off a cliff and I lost 20+%, and I lost all those gains and more.

After over a week of trading, and almost being break even, another trade fell hard and I was like 15% in a hole.

The problem I found with daytrading... In order to make 2-3% daily, you have to trade 1min candles (or 5min), and have to trade the most volatile coins, or trade with leverage.
Basically trading small movements.

But when a huge 1hr-worthy candle comes along, it's much bigger than most candles you trade, usually by a factor of 10 at least, and you lose so much more. And making losses back is harder than making gains (e.g. if you lose 50%, you have to make 100% gain - double your money - just to break even).

There might be a better method than what I was doing, but even with just daytrading with only 5% of my port, I found it very hard to stay profitable long term because of that.

>> No.19097363

>>19096212
>>19097327
So yeah, right now I just swing trade the 1hr or 4hr charts. That never failed me, but earnings aren't as consistent. Plus they're smaller, but at least it's safer.

Not something you can choose if you need a regular income.

>> No.19097369

>>19097173
>kraken fees aren't bad
Until you withdraw

>> No.19097376

>>19096212
No. Because it's basically gambling. Less than 5% of day traders are successful & the losses will offset the gains so much that at best you're looking at like 50% profit per year in traditional markets. All the people here claiming to be successful are larpers or newfags that just haven't yet gotten rekt hard - but they will. And maybe a couple of real ones too, who knows. But honestly, you're better off just buying dips & trying to get in on shitcoin pumps early than trying to time a market where whales can paint the tape with any fake signals they want.

>> No.19097413

>>19096366
Use 1inch instead, it aggregates all the major DEX including Uniswap to reduce your slippage.