/biz/ - Business & Finance

>>27343855
>mostly doing day trading stuff
dont
>technical analysis
dont
Reading books won't help you with that shit because its literally just gambling. Show me one TA crypto "analyst" who is consistently right. Gamble if you want but don't pretend like you're doing something else.

>>27343855
you just hold

>>27344884
Fucking this.

>>27343855
https://goldenthreadtarot.com/how-to-read-tarot-cards.html

This is financial and medical advice

>>27344884
Solid advice, every investor worth his salt ever basically says the same thing pick two or three solid companies or investments you like and continuously pump money into them as long as you like them. Reap the rewards of compound interest.
That's it.

>>27344884
yup
you'll learn one way or another, the crypto market doesn't give a damn about what you think you know
pic rel

>>27343855
There is no such book. Imagine you have found a way to turn any metal into gold, would you write a book or share your method with others? You have to rely on your own judgment and seek clues and hints here and there.

Jack Schwager Market Wizards is a good book on traders philosophy.

>>27343855
Buy early (there are websites that list newly added tokens on uniswap - beware rugpulls), hodl for a couple months/years, arbitrage (requires programming knowledge - thanks to aave and dydx you can leverage the difference between pools practically for free and just pay gas), buy->stake (defi), DCA; those are four main ways you can earn with crypto. Day trade is going to only cost you money. Swingers get the rope.

>>27343855
everything is bullshit except for pic related

TA does not make sense just logically. there's no real reason these patterns should repeat. research crypto, wait until a good project comes out, buy it early and hold.

>>27343855

I've been trading for years, burnt through two accounts starting out and the past few years have made consistent gains in both stonks and crypto.

most important lessons

Trade off 4 hour and day candles, anything lower is retarded

You'll get wrecked day trading just don't

never go all in, set a maximum amount that you're comfortable with losing, If you're having trouble sleeping your positions are too big. I usually have 5-20 positions open in crypto my cap is $2k USD, in stonks its $10k.

you'll undoubtedly ignore one of those 3 rules and burn through your account, every newfag progresses in a similiar way

Permabull (losses everything), perma bear (never makes anything) , emotionless robot (what you need to be to trade)


youtube.com/watch?v=Pg_Oeas_Ugg

>>27343855
Random walk down wall street

>>27345354
Bull trap - return to normal

Is this what they call the dead cat bounce?

>>27345617
yes

>>27343855
You will never make it with that sort of thinking, like holy fuck if you don't understand smartcontracts you're going to get fucking blown out the water.
Trading on >muh technical analysis
Is not a well informed trade you fucking spastic

>>27343855
Do not day trade. You will lose all your money until you have at least a basic understanding of price action, and even if you understand price action and can do proper TA, it might take you months or years to be able to properly apply it to your trading and become profitable at it. I'm sure you're not going to listen to my advice, so at the very least bookmark my post in the archive so you can come back to it when you inevitably burn your account. To learn TA start by watching all of the videos on this channel:

https://www.youtube.com/c/MarketTradersTV/videos
https://www.youtube.com/c/TR4D3R10/videos

For the time being, I'd recommend you to avoid lower timeframes altogether and stick to higher timeframes while you learn about TA. Weekly, daily and 4h. Buy support, sell resistance. Use stop losses.

>>27344884
>>27344936
>>27344965
>>27345017
>>27345250


this is one month of trading with approximately 800 usd.
using ONLY ONE TA STRATEGY consistently in crypto
just because you tried trading with the rsi on the 5 minute chart 2 times and lost does not mean everyone is as dumb as you.

what most people dont get is this:
its about the process.
its about discipline and sticking to your plan. as soon as you change strategy 5 times per week like a faggot you will lose because you have zero consistency. like a girl who can not decide what to wear.

>>27347301
backtest over the most amount of time possible over DAILY OR WEEKLY CHARTS. if backtest is good even if changing slightly the values it means your strategy is fairly robust
???
FUCKING GO!!! APPLY THE STRATEGY
???
PROFIT

>>27343855
just buy low and sell high, that's it
don't buy pumps unless you are extremely confident it will keep going up and don't buy dumps unless the project is legit

>>27347546
cont.
another thing.
stop losses are not as important when you have a system.
BUT when you trade shorts it is almost imperative to have some stop loss, even if wide it will still protect you from the deadly short squeeze.

executing a long only strategy obviously does not have this problem.

>>27347301
what kind of strat?

>>27349392
basic moving average shitstrat.

>>27349788
what like slow/fast sma cross?

>>27349392
thats why the win rate is at 40% percent.

almost any moving average strat will have around 30% to 50% win rate while still being profitable.

>>27349948
so you're trend following? Which means you get a bunch of false signals but sometimes you're right and it goes on a huge run? What timeframe?

>>27349861
i wont tell you exaclty what I use because it feels wrong, but basically yes,
its even more basic than slow/fast sma cross.

>>27350076
exactly. the more you zoom out though, the more bearable it becomes.
high timeframe.

>>27350113
so you just have one moving average and enter when price crosses it?

>>27350241
BINGO

>>27343855
Any analytic or report style book holds at best 2% useful information.
The rest is garbage filler or commentary from other useless analysts.

No one is actually trying to inform you with a book like this

>>27344884
Philakone crypto

Not that you newfags would know him.

>>27343855
106 iq so please correct me if I am wrong.
wtf do physical laws like areodynamic have to do with trading?

>>27345321
i tried my hand at alchemy before. i thought i'd actually done it and crafted a beautiful broach from it. but when i showed it to my friend he said that if anything i had created green, not gold.

>>27350863
>he doesn't know

>>27343855
I believe it is one of the chapters of scientology

>>27344965
>Fucking this.
you have to ooooOOAHHH GO BACK

>>27350863
any help?