/biz/ - Business & Finance

>>24725465
The danger is losing ur euro. Get a real strategy thats back tested and dont over leverage. Also get at least 10x that money

>>24725504
What are these "real strategies"?
Care to share some resources for them?

>>24725504
i actually think its better for a beginner to not use a strict strategy, but instead read market conditions and follow trends.

learn ichimoku cloud and just catch trends

>>24725465
tl;dr is dont. you're not the 0.01%

>How much return should i aim for daily? Since they take 0,1% per order, i guess in the range of 0,4 ... 0,6%?
dont aim for a set % per day, just aim for making good trades, one after the other. track your pnl over time and you'll know if you're profitable or not. it's kind of a binary thing. 99.9% of people will just lose all their money over time and keep depositing it back in. the 0.01% that can make money will keep scaling until theyre a millionaire. there's no in-between.

>Is using mostly stochRSI viable?
there is zero alpha in all of the stock indicators.
>What could be the pitfalls or dangers?
its a lagging indicator so you'll be selling as the asset is just starting to moon when you should jump on the momentum trade.
>Any useful resources or channels for learning?
if you still want to get started & lose all your money, redxbt's stream is a good intro but there's no shortcut around staring at the 15m chart for 10 hours a day for 3 years.
>What pairs are good for daytrading?
Bitcoin perpetual swaps.

>>24725605
The money i can spend is something i can afford to lose. I plan to start low and see how things go and operate according to the gained wisdom.
I have no plans to invest oll of my assets in daytrading. Its just something to fill in the gaps in my main job so i am able to be little more productive. Funny thing is, that googled around and found so many articles of these lol-weed-lmao type of people just bullshitting around and eventually making ridiculous results while saying "just buy low sell high bro" assuming that they are genuine stories. So i thought that an engineer like me, cant fail that hard with resources i have no fear over losing.

>>24725465
>not using algo trading using binance api and only doing market making to avoid the fee
>using reddit spacing
ngmi

>>24726448
What is reddit spacing? i am not familiar with reddit at all.

>>24726485

Only trade with funds you are ready to lose.
Buy low sell high, unless you're a true /biz/nessman then you might want to buy high and sell low.
When you swing always calculate your benefits taking fees into account.
Buy BOND.

>>24726448
Why wouldn't i make it?

>>24726448
how to do only market making orders?

If you set a price for a limit order buy and someone else already made a sell limit order at same price before you, you will become a taker and not a maker

>>24726587
because crypto day trading is highly automated. which means you will have to trade faster than the algo's.

>>24726617
How automated? In the sense, what is the depth of the automation? I am capable of writing code and algorithms myself if necessary. I guess a little bit of experience in market analysis and i could fare relatively well. I'm just looking to gather that experience and hoping you could guide me somewhere.

Just trying to make it for my sons.

>>24726594
sure but you should use automated market making with faster refresh rates to minimize this. try to make the spread between the bid/ask. hard to do in more mature markets but in more illiquid markets spread is sometimes even a few%

>>24726682
just search for algorithmic trading, quantitative trading, hidden markov models,...

>>24725527
VCdepth.io
activate MDR (market depth ratio, it is (bids-asks)/(bids+asks)) ) basically gives you demand for the all market, see how price reacts to the tool, don't simply buy when green. In filter>books you can see at multiple depths

https://fr.coinalyze.net/futures-data/
go to btcusdt-perp on binance so you can have sentiment.
activate liquidations, aggregated open interest, aggregated funding rate, and long short ratio.
markets react a lot to futures market, just go to history and see how sentiment and open interest will predict the price somewhat

https://hyblockcapital.com/
good chart with some nice indicators even for the free version

https://gocharting.com/terminal?ticker=BINANCE:BTCUSDT&layout=1
free volume profile yay !

https://www.tensorcharts.com/
has heatmaps it's more for short term but still good

https://www.youtube.com/channel/UC-dLWl8etTtPSGdbbcYffGw/videos
is the only youtuber so far that i find worth my time.
he has a lot of knowledge and gives you a lot of strategies.

https://www.youtube.com/watch?v=8NyP_XzqgGA
this is how the market operates usually.
HOWEVER, it was of no value during the bullrun; parabola wins everytime. still good in range markets.

>>24726705
How long have you been doing this?
How old are you?
What are your returns?
What did you start with?

>>24725465
Anon. I'm a successful day trader. I have been day trading for almost 4 years. I put in a initial of $1500 and got that up to +-$350 000 during that time.

I aim to make around a $100 a day sometimes I make much more sometimes I make less. I couldn't teach you how to do it if you paid me a million.

How I got to this point was through just actually trading. Focusing on capital preservation before focusing in making money. When I started I was happy just not losing money and celebrated a $0.15 profit for the day.

You need time and you need pattern recognition. I had/have both. My IQ was tested at 16 to be 163 and I had one year to laze about the house. I'm not saying this to brag but to try and illustrate that I was very lucky from the start.

Ama anything I guess.

>>24726769
not doxxing myself. i'm advanced in using statistic models. if you get good at this the return is huge. crypto markets are relatively predictable. if you really want to go pro: i've built a algo bot (nothing to fancy) that integrates twitter sentiment scoring. gets about 80% hit rates on volatility prediction.

>>24726838
>ama anything
>163 iq
topkek, can't make this shit up

>>24726847
I'm intrigued and I'd be very curious to see your bots "opinion" on XRP, it must be a serious outlier

>>24726866
You have to go back.

>>24725465
You're going to get rekt. Don't do it. Thousands of idiots just like you think its gonna be easy peasy. But you're never gonna make it.

>>24726952
If i'd drop any activity with the idea that it's very difficult, i wouldn't be an engineer.

>>24727017
nice attitude. gl to you

>>24727017
Choose what you want to focus on. Algorithmic trading, technical, fundamental or momentum trading. Momentum is the easiest.

For instance if you go into technicals start using the statistical average of each indicator and calculate your risk accordingly. Weighted moving average is extremely important in confirmation. Choose your time frames and calculate.

Learn market psychology and how algo niggers apply their logic. Serious algos have more data than you but they still play by rules of that data.

Trading is different each time you have significantly more capital so it's a relearing process. Start with bullshit like Pirhanna profits (you can torrent it) see how other traders think but most importantly what they sell (what looks like it works and what other people look for) most retail traders lose money, if you did the opposite of what they did you would be one of the most successful traders alive.

Then start looking at institutional indicators.

Once you have a decent understanding of market psychology, retail indicators, institutional indicators and algos. You should start collecting a much data as possible. Twitter can be useful as well.

Determine your long term, medium term, short term, fait, crypto holds and start building assets. Be patient. Best of luck.

>>24726413
set aside a lump of money to trade with that you expect to lose and go for it. again, you'll need to stare at the 5min chart until ur eyes bleed. ply around on fidderent exchanges, look at options & get a feel for the general bitcoin market structure.

you don't need to write an algorithm to trade for you, as >>24726617
is claiming. i personally know a couple very profitable traders who do everything by hand, so i know it can be done.

>>24726838
>My IQ was tested at 16 to be 163 and I had one year to laze about the house.
so you're 17. MOOOOOOOODS

>>24727646
I will never understand people online. If someone claims to be 6'10 (which is around 3 standard deviations) people believe them but for some reason nobody can fathom people with an IQ higher than a 100 using obscure internet forums and people who claim it are automatically lying.

Idioot.

>>24726838
Cringe

>>24726752
Hi SalsaTekila

>>24726752
>aggregated open interest, aggregated funding rate
what do these show?

>>24725465
>I'm trying to give my sons a better future.
Day trading is gambling. You are gambling with your son's future. The longer the timeframe for you trades are, the more likely you are to succeed. If you plan on making trades that span a month or two, you can successfully outpace Bitcoin. And outpacing bitcoin is legendary investment growth.
The chances of you succeeding with day trading is improbable.

>>24726838
What's your best strategy anon? Revert to the mean?

are you
1) able to shut off your emotions completely
or
2) able to program an automated script to completely trade?
then go for it
dont start with the idea to make money, start with the will to learn
what makes you think you can use a skill without having it perfected first? dont be arrogant, you will fail if you try to make money before trying to learn

>>24726866
Lol out loud

>>24726838
>I put in a initial of $1500 and got that up to +-$350 000 during that time.
larp and cringe
>>24725465
don't, you'll lose your money

>>24725465
I would play with safe and long term strategy. If you wanna take advice from biz, you will mostly get day trading advice which is not suited for you..
i would throw 700 euro to bitcoin and 300 to ether.. some of it right now and some of it depending on future prices.. some people believe we will not go under 15k with bitcoin.. i would buy right now and then sell later when it will hit new high of 25k, then sell bit, wait for drop to 20k etc.. but right now think of it more as accumulating crypto as it will go to sky highs when your soń matures..
i like having my own cryptowallet - on phone its coinomi and trade with coinmetro - lowest fees.. send them one euro with bank account and trade for almost nothing.. then you can tranfer to usb wallet, if you wanna aim really long term.. i have 20k eur for future and i expect to hold 10 years, slowly add and i think it will grow at least 5x.. especially if they manage to go with great reset - world will be running on cryptocurrency

my friend just had a baby and i wanna give him crypto wallet with 5 euro and explain to his parrents if they just throw some pocket change at it his future will be secured

>>24726617
nothing to do with trades being automated.
>>24726705
>>24726747
good luck trying to beat quant firms with teams of math PhDs that have millions of capital at this game who can also collude to fuck you up.

OP the reason you won't make it is because you'll have to waste incredible amount of time trying to find an edge. If you don't have an edge you won't be able to make money and you won't find an edge for free online.

>>24726594

>>24725465
if you lose 50% of your money, your next profit must be 100% to neutralize your loss. This is the tricky and risky side of trading. Liquidity mining rewards and staking rewards are so high in crypto. Check them. My favorite GEM for staking is tokamak network. Do your own research and don't gamble

>>24730182
thanks, i understand your criticism and you are right. but just because you can't beat them doesn't mean you can't average a nice return. i mean, it works for me and i don't have a team of math phd's on payroll.

>>24726413
buy land somewhere instead

>>24725465
here's the thing, there are people in this space with alpha that you do not have
they are dependent on people like you trying to make honest money that they can take advantage of
I happen to know this because I've managed to get into a telegram group that's shown me just how corrupt this space is
if you do day trade, be conservative and very careful

>>24731191
sure but considering the amount of time required to find an edge he would be better off to just wait for a correction then buy and hold for years.

>>24725465
if you are an engineer there is a path for you.
you have to code strategies and backtest them. to get settled with something doable, use tradingview hosted pine script programming or roll your own stuff with python.
its the only way for you since you are an engineer, probably you have enough patience to code this.
the key is backtesting everything. dont do it instinctively!
you might actually make it if you do it right. avoid too small timeframes!

also, no leverage!

>>24731800
Why do you think this?

>>24730383
nice, Good to know.
I do crypto on binance. only futures isolated has this option, no other section does.

>>24725465
put half of your money into futures account, pick a random USDT/ pair, set the leverage to, let's say, 25x, buy low, sell high. With 500 euro you can do at least 40 a day, but that will grow exponentially, so in a week, you will earn 100 a day.

>>24725465
Look for Anton kreil's videos. You should be able to find a link to download them on mega.nz, if you search on warosu. You're welcome.

>>24732207
Fuck that fag, look for crypto cred.

>>24732155
>H
degenerate detected

>>24732239
Ok let me give you an example:

You have an account balance of 1000$

your TA dictates you to set your stop loss 0.8% below your entry price

You are risking no more than 2% on your account

should you use 2.5x leverage, you will only lose 2% from your total balance.

Leverage is irrelevant regarding risk. It's all about position size

>>24732362
Using 2.5x on your balance = placing a 2500$ order that is.

>>24725465
>I'm trying to give my sons a better future.
This is not how to do it.

>>24725465
The only way to learn is to do it most people lose all their money and never try again which is why the numbers are so inflated against you it’s probably closer to 60/40 if they were actively day trading idc about your intentions or how wholesome they are so get that emotional pandering off of here. The only way you learn is to fail you become more comfortable with a certain amount as you become more experience say you succeed with 1000 and get 2000 I’m not going to say who can and cannot do it, it’s why people are comfortable gambling $20 or something. This is also why you shouldn’t mess around with your house and shit but you sound dumb for being in this position in the first place.

>>24725465
If you're looking at biz to learn how to trade, you deserve to be Colombian necktied. Fuck you and your sons.

>>24725465
3% daily
https://pancakebunny.finance/farm