Is day trading a meme?

[Anonymous No.29270655]

Any anons actually day trade for a living?

[Anonymous No.29270870]

>>29270655
i day trade 1 tsla share at a time to pay for my lunch

[Anonymous No.29271001]

>>29270655
I don't day trade myself but I know the successful day traders aren't going to give away their strategies that made them successful. There's many good resources out there but many videos on day trading are purely made to lure viewers into get rich quick schemes.

[Anonymous No.29271076]

>>29270655
I made 6500 in 7 hours trading forex while posting in a poker thread on friday

[Anonymous No.29271187]

It's not a meme, but you're going to have to study and start small for a few years to be profitable. My friend does it and cleared $1m last year after starting 4 years ago. His prior years to that were $200k and $30k

[Anonymous No.29271256]

>>29270655
I've done a lot better by swing trading with leverage. Also don't need a million screens and only look at the charts when I'm not busy doing something else.

[Anonymous No.29271382]

>>29270655
>2012 my friend decides to become a daytrader
>2013 he has amassed something like 700 BTC and a good sized stock portfolio, iirc his strategy was to choose an industry, research it heavily and find the most promising companies in each one and invest, and then invest his profits in blue chips
>2015 i saw him after a long time apart and was surprised, he had lost most of his hair. he got into online gambling and lost all of his BTC
>2017 he apparently had some kind of psychotic break and was held in a psych ward in the Asian country we were both living in, when he got out he returned to the US
>2018 when I saw him next we were both in the USA and he talked to me for 2 hours without stopping about DUMBs and high speed subterranean trains linking major metropolitan areas and underwater UFO bases. he did not seem to be stable, but was throwing money around like it was nothing, I think he bought me about $30-40 in good whiskey at the bar we were at and left a $20 tip
>he now lives in Puerto Rico on an organic farm that I believe he either owns or owns part of and is engaged in mycoremediation i.e. healing the soil with mushrooms. Seems happy but far out

be careful anons, it'll change your life

[Anonymous No.29271391]

>made $17.39 in 3 days of day trading shit coins
Tendies acquired

[Anonymous No.29271437]

>>29271076
How much leverage you use?

[Anonymous No.29271505]

>>29271382
Fucking legend

[Anonymous No.29271544]

>>29271437
depends on the trade and how much margin I am exposed in my open positions

[Anonymous No.29271547]

>>29270655
I did then I had to do my taxes and wished I didn't. Still, turned 3k into 150k so it worked out I guess

[Anonymous No.29271588]

>>29271544
On average though.
I'm wondering how much starting capital you need to make significant gains in FX trading.

[Anonymous No.29271618]

>>29270655
pic related is a meme
1 screen is enough

>>29271076
forex every weekday for me

[Anonymous No.29271626]

>>29270655
i day traded myself from 200k to 5k

[Anonymous No.29271664]

>>29271382
Sounds based.

[Anonymous No.29271672]

>>29271618
>1 screen is enough
false

[Anonymous No.29271679]

>>29271382
happy ending I guess.

[Anonymous No.29271781]

>>29270655
yes.

[Anonymous No.29271845]

>>29271588
depends on your initial deposit and how much you are looking to make per pip/trade

you can deposit as little as 100 bucks I think but you are literally trading for pennies even with 100x leverage. The leverage in fx is actually 100k bundles of cash called units. If you want to make 10 bucks a pip you need to be using at least one unit in USD (diff currencies rates determine how much of a unit you need to trade to = specific pip price).

If you have 1 deposited I it is 100x leverage to get 10 dollar pips on a USD trade. I generally try to shoot for over 16 pips on a trade minimum. Sometimes I set my pips worth at 450 bucks a piece sometimes 200 etc. As I said depends on your level of exposure and the market trend how much you want to leverage. Remember the more you leverage the more is wrapped up in margin however so you have to juggle the value of the trade versus possibly losing out on trades because you are over exposed

[Anonymous No.29271847]

>>29271672
>false
I only trade forex and more than 1 screen becomes a distraction

[Anonymous No.29271856]

>>29271672
Bro we need to hurry the fuck up with some better VR/XR headsets for this shit. Getting ridiculous

[Anonymous No.29271921]

>>29271672
depends on your style/pairs. Some of my trade styles I can do with a single screen trading 5/15 min candles. Others I need to be watching 8 or so diff pairs at once that requires biggers screens. With mt4 metatrader you can watch 6 pairs at once on one screen if you have p decent eye sight

[Anonymous No.29271936]

>>29271845
Thanks for the info fren.
I'm writing a trading algorithm for equities but I want to backtest forex data to see if I can be profitable in that market.

[Anonymous No.29272053]

>>29271588
here's an example:
on a $5k account you can trade 1 lot positions, only 1 position open at a time
1lot means $10/pip for the main pairs like eur/usd or gbp/usd
a 50pip trade gives you $500, minus commission and swap if you hold over night

[Anonymous No.29272198]

People get way too hung up on leverage and starting capital. You should be after % ROI on your equity capital, not targeting $200 bucks a day etc.

Most FX pairs are not very volatile, so there can definitely be less risk trading FX leveraged than spot (unleveraged) crypto, depending on how you structure the trade.

Also keep in mind that a pip != bps (0.01% or 0.0001).

[Anonymous No.29272236]

>>29272053
Makes sense, thanks.
Coronachan volatility must have been a wet dream for forex traders.

[Anonymous No.29272244]

>>29270870
Lol

[Anonymous No.29272295]

>>29271936
no worries check out adam khoo on jewtube if you want a nice playlist of intro to seasoned trader training. He has one just specifically on forex and he isnt a donktard like from /biz/ or average jewtube retard cowboy who will go broke. He will teach you solid fundamentals and metrics to be a profitable trader. Forex is bascially the exact same skill set of being a poker player. You wait for about 19 variables to be inalignment (bar pattern/metrics) then you get your money in the pot and let the dealer finish the hand. Scrape your profits or move to the next set up. All you have to do is break even trade wise to make some good money as you only risk losing half as much as the payout.

If you win 50 percent (literally random coin flipping you should be able to do this) then you make 10 percent of your capital per cycle but you should be winning at least 60-80 percent of your bets if you learn good flags/patterns/metrics making your earning potential muc higher. Short of just getting in on jeet PnDs in the floor and getting out early nothing is more profitable investment wise than forex.

[Anonymous No.29272441]

>>29272295
Thanks, I'll check it out.
I have some experience day trading equities and crypto so I'm sure those TA and risk management skills will be transferrable.

[Anonymous No.29272500]

>>29272198
this, as I said it is literally exactly like being a pro poker player. How much you win or lose each trade doesnt matter it matters how often you win and your bankroll management. All you need to do is concentrate on your ROI and your money will grow on its own as you are working with percentages not value. Focus on making on 10 percent per cycle whether it be 10 bucks or 50k bucks. If you are at 10 you will make it to 50 just be consistent on your ROI %.

No diff then playing 50 cent buy in sit and gos and 500 dollar buy in. Just concentrate on winning no matter what level you are on and you will move up in value on its own

[Anonymous No.29272544]

Does day trading shitcoins count?

[Anonymous No.29272580]

>>29271845
Why do people larp this extensively

[Anonymous No.29272599]

Swing trading seems less volatile

[Anonymous No.29272686]

>>29270655
It is a meme.
Go ahead and grab the daily prices of whatever you're trading over the past 5, 10, however many years you can get. Such that you have a list of the daily value of nasdaq since 2011 for example. Put it in a spreadsheet.
Now calculate the percent change for each day, and take the average of those percent changes.
Yeah it's fucking nothing. I don't track nasdaq but I'd put it at 0.30%. S&P is 0.25%.
Now take the standard deviation for those daily percent changes.
Yeah it's about 1%.
What is this telling you? There is not enough volatility to day trade. All the opportunity that exists in small timeframe is eaten by robots who can trade millions of times faster than you and are located next to the exchange. You will not beat them.
What most people do at this point is leverage themselves to the tits and eventually get blown up.
You, human, have an advantage: you can think further ahead than machines can. You can seize those 1-3-6 month opportunities.
Take for example, the flash crash. You with a fleshy brain in your head look at it and say wow that's unusual and a great buying opportunity. Machines saw it and said SELLSELLSELL it all.
So anyways no there is no point because the volatility isn't there and because your competitors will kick your ass.
There are generally not successful day traders. Hedge funds are not doing this. Banks are not doing this. Only retail is doing this. And retail loses 90% of the time.

[Anonymous No.29272695]

>>29271382
this guy is living the shit out of life

[Anonymous No.29272775]

>>29272686
Haven't seen this copypasta before

[Anonymous No.29272808]

>>29272580
he owns an unregulated brokerage

[Anonymous No.29272878]

>>29272599
Is swing trading the same as day trading except a couple days apart?

[Anonymous No.29272880]

>>29272775
Because it's not copypasta.
If you're not going to bother to actually do analysis and see that there is no volatility in one day timeframes I suppose you are not actually interested in making money this way.

[Anonymous No.29272994]

>>29272580
why are broke faggots always so salty

[Anonymous No.29273091]

>>29271382
so i should definitely start daytrading then?

[Anonymous No.29273164]

>>29272878

Depends on how much the stock increases/decreases, but basically. It can be longer though. I've had positions where I've bought & sold in a day spam & ones where I've held for months. That's why you need to be in a lot of stocks

[Anonymous No.29273294]

imagine doing all that when you could just hodl

[Anonymous No.29273546]

>>29272580

[Anonymous No.29273647]

I day trade, swing trade, buy and hold, and trade options. Most of my profits I put into my buy and hold investments which I then borrow against on margin to day trade/swing trade/trade options with. If I fuck up a bunch of trades in a row I'll sell off a little bit of my buy and hold investments to get back in the game.

Yeah you can just buy and hold but having other ways to make money in the market lets you increase those positions quicker and make money over time. You have to be able to read charts like an autist though.

It's fun for me and I'm profitable doing it. Another benefit is that when you get better and better at reading charts, you're able to look at the charts of your buy and hold investments and understand how your thesis for those investments is actually playing out in the market. If you're able to see lots of positive technical indicators for those investments in the chart then that indicates your thesis is being increasingly accepted by the market and you can increase your confidence in the investment and lower your uncertainty factor. This helps you adjust your thesis and price targets and what your exit strategy is.

Maybe I have a price target of X for an investment I've been holding for a long time, and I look at the chart, and I see the chart looks extremely bullish as it's approaching the price target. Then I can just increase my price target and hold for longer. But if the chart is looking bearish, maybe now I take another look at the fundamentals, check the sentiment around it, see if there's some news I missed, maybe I exit a little earlier than I was planning.

[Anonymous No.29273751]

>>29270655
For most people, yes. Even skilled traders blow up their accounts. Its actually hell and the opposite of what gurus paint up.

[Anonymous No.29274060]

>>29270655
I day trade for a living. I make about 5k to 10k a week depending on market volatility

[Anonymous No.29274147]

>>29272441
yw here is that playlist
https://www.youtube.com/watch?v=zCWMV0W5gDo&list=PLl_EHtw2h7QSLtfNnzSjsNcSXgDqed7QO

[Anonymous No.29274204]

>>29272441
my bad that is level two, this is level one
https://www.youtube.com/watch?v=RouVBkU6R4Q&list=PLl_EHtw2h7QReYCZt8yAV5jDwJU7oIK-z

[Anonymous No.29274305]

>>29271391
Well done Anon.

[Anonymous No.29274488]

I made 100k in 2021 just trading, but I still am not comfortable to the point where I feel like I can quit my day job, I feel like I've been lucky. How do I begin becoming knowledgeable to the point where I can do it full time?

[Anonymous No.29274704]

>>29274488
>>29272295
>>29274147
>>29274204