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/biz/ - Business & Finance

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9676742 No.9676742 [Reply] [Original]

Hey /biz/ im about to lose my position in a crypto prop shop which i thought would be my ride to a lambo ... i have 1 week to turn it all around.... what do

>> No.9676759

>>9676742
how much have you lost, and was it your own money?

>> No.9677033
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9677033

>>9676759
ive been ranging between .1 and .3 of a bitcoin of their money... i was expected to generate more profit but have been failing so i have to hit this target

>> No.9677108
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9677108

>>9677033
bit off more than you can chew?
why not take the money and run?

>> No.9677185

>>9677033
seeing as you're ranging between a certain amount, it seems you keep making some money, only to give it back to the market

how long has this been happening?

do you look for the same setups/use the same strategy, regardless of market conditions on the specific timeframe(s) you're trading?

if you are, that could be a reason as to why you're giving back the money you make

>> No.9677275
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9677275

>>9677185
yeah its been a frustrating 5months... between shitmex locking up and the strange patterning its bbeen hard to exploit the vol ... ive done forex retail previously and honestly i was hoping the exp would transfer... not so much

>> No.9677307

>>9676742
>crypto prop shop

What does this even mean? You investing other peoples money?

>> No.9677322
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9677322

>>9677307
yeah its a proprietary trading firm but with crypto - look it up

>> No.9677367

>>9677322

Ok, I get it, so don't you have some disclaimer like "involves risk, may lose money"?

Its not like its your fault the market is dying

>> No.9677414

>>9677367
there are people at my work who are pulling in 10s of coins a month why im soughta just flopping around

>> No.9677500

>>9676742
>sets up propshop
>comes to biz for halp

If half the (companies) are run this way no wonder the economy is failing

>> No.9677571
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9677571

>>9677500
its just me coming here....

>> No.9677593

>>9677275

the next time you start to build up money again, I'd say to not increase your position sizing, simply because you've got more money to use

position sizing is dependent on volatility, the timeframe, and the confidence you have in a given setup

- lower volatility generally allows for larger position sizing, due to the allowance of closer stop placement. How you could apply this to bitcoin is actually with what people are calling the "bart" pattern, where it has an explosive movement upward, consolidates, then has an explosive movement downward. When it consolidates, have your stop entry order (or pending order, whatever you want to call it) placed somewhere below the consolidation structure, with your stop somewhere close above the consolidation structure. This setup will allow you use a closer stop, with the same amount of given risk, allowing for larger position sizing.

- higher timeframes generally require smaller position sizing, due to the larger movements that take place.

-confidence is determined based on your experience of how often a given set up tends to play out, under certain market conditions.

essentially, be smarter about how you decide to position your trades, don't just start placing larger trades, simply because you made more money. This could also be why you're giving back the money you're making

>> No.9677641

>>9676742
why do you keep posting pics with people smoking lmao

>> No.9677773

>>9677593
I'd also recommend only applying that volatility strategy (which is pretty much breakout trading) when bitcoin is downtrending on a higher timeframe, such as the 4hr time frame

>> No.9677848

>>9677307

More common with forex and tradition securities trading but it is a thing. Whales with lots of cash farm it out to traders looking for talent. If you lose their money they cut you.

>> No.9678006

>>9676742
I know exactly how the market is being related right now. Can call the price action with very strong accuracy.

>> No.9678019

manipulated not related

>> No.9678042

>>9678006
well, let's hear it

>> No.9678091

>>9678042
Not going into great detail until iv'e made my money... but it's 1 exchange and its been happening the majority of 2018.