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/biz/ - Business & Finance

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50676812 No.50676812 [Reply] [Original]

I have started day trading and I usually wait until a 5% profit and then sell. I have a 10% stop loss. If I just sold at every 2% profit, I feel like I could almost guarantee my bets. When you zoom all the way in, the graph is really always crabbing. What’s stopping people from doing this? What’s the lowest percent I can get to and not be overtaken by fees? Why should or shouldn’t someone do this?

>> No.50676825

If you're not meming, capital gains tax

>> No.50676866

>>50676825

Yea I know there’s the capital gains, but what’s the lowest % I can trade and still make money? It just seems like trading around 2% could be a win almost every time

>> No.50676876

I also started day trading, but I do all of it manually and typically get 2% profit a day. It's 10 times easier and less risky than everyone told me, but it requires you to constantly look at the chart. I think that people don't do it out of laziness or lack of determination and persistence.

>> No.50677021

>>50676825
Why's this a problem? Don't you just pay CGT on your net capital gains at the end of the tax year? Is this some Burger thing?

>> No.50677081
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50677081

>>50676876

Can you explain what you mean here? Do you trade at lower percentage?

>> No.50677102

>>50676812
because it's sometimes hard to time the market for maximum profit.
i usually trade with a 20x leverage, when it's a day when it goes perpetually up, it's a safe bet to make a shitload of money, but sometimes it's hard to see through, especially when you're shorting not during a black swan event

>> No.50678030

>>50677081
>lower percentage
I trade with 100% of my portfolio on every trade, unless I'm not 100% confident in my technical analysis, if that's what you mean by "lower percentage". I started with 1 cent and now have a bit over $5.
>>50676876
>manually
Spot trading on Binance requires at least $10, so I need to manually convert it at the market price.

>> No.50678144

>>50678030
>I started with 1 cent and now have a bit over $5.
unfathomably based

>> No.50678172

Risk/reward is 2:1 long term you lose. 2 days profit wiped out by 1 bad day. Also you're scalping.

>> No.50678207
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50678207

>>50678030
>day trading with 1 cent

>> No.50678294

>>50676812
2:1 risk/reward is a terrible setup. You're asking for one or two bad trades to wipe out several trades worth of progress. It should be the opposite. When I'm trading crypto, I almost always aim for a 1:3 risk/reward and only end it early if I'm seeing signs that my thesis for entering is unlikely to play out.

>> No.50678858
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50678858

>>50678030
>I started with 1 cent and now have a bit over $5.