[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 189 KB, 637x575, 1594951013649.png [View same] [iqdb] [saucenao] [google]
27128284 No.27128284 [Reply] [Original]

Is it possible for me to make a living trading crypto?

I'm at uni with very little expenses, so all I need is something like AUD$400-800 per week?

Is this attainable? I am a retard? Are we all retards?

>> No.27128347

>>27128284
yes you can do that in a bull market with a reasonable investment

but you'll have to save 90% of your earnings to survive the 3 years in between bull markets or get good at shorting and playing horizontal charts

>> No.27128374

>>27128284
>$400-800/week trading
Thats not going to happen kiddo.

>> No.27128509

>>27128347
so far I've turned $5k into $26k so I've got a good base

>>27128374
Is it possible to average this if I make over $1k one week then not much the next though?

>> No.27128554

>>27128509
No because you will also lose sometimes.

>> No.27128632

>>27128284
>Is it possible for me to make a living trading crypto?
I wouldn't recommend attempting to create a source of income if you're just starting out.

>> No.27128680

>>27128509
just make sure to keep at least 3 months of survival money in tether or fiat in case shit hits the fan, otherwise -- great job!

don't go -90% on your only income.

>> No.27128715

>>27128509
>so far I've turned $5k into $26k so I've got a good base
Pretty good. It's all a gamble in between macro tops and bottoms. Realistically if you want to do that without pulling your hair out every night you would shoot for a good exit point, hedge a short and keep the extra you aren't using to short to buy the bottom and live off of.

>> No.27128787

>>27128632
I've been lurking and researching for abt 8 months now so hope that is long enough

>> No.27128799

>>27128284
Crypto, maybe.
Stocks yes.
With Crypto, you have two options:
>SEC finding you and taxing the fuck out of you if you try and hide your activity
>taxing the fuck out of you if you don't

And just... waiting and see.

You feel me? I'd do stuff like calls and puts and enjoy the money making money by trading

>> No.27128823

>>27128509
Not every month is going to be like the last few. Most of the time we’re just crabbing.

>> No.27128885

>>27128284
if you have to ask, then no

>> No.27128954

>>27128799
am in Aus though so tax is a problem yes but unfortunately options trading isn't really a thing here and I can't seem to find a decent platform to trade in the US, plus the time zone difference

I feel you though fren

>> No.27129041

>>27128823
hypothetically, if I just buy huge amounts of a shitcoin (say $10-20k) and sell it when it increases just a little, won't that net me a few hundred in profit each time?

>> No.27129086

>>27128715
good advice, the stress might kill me

>> No.27129277

>>27129041
You will skyrocket the price just by making that purchase.

>> No.27129312
File: 28 KB, 1027x731, 1610086183628.png [View same] [iqdb] [saucenao] [google]
27129312

>>27129277
easy money then?

>> No.27129376

>>27128680
thanks fren

>> No.27129740

>>27129277
If I win the lotto I wanna try this, pick a shit coin and dump money in it