Is anyone here doing future trading full time?

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Is anyone here doing future trading full time? I have some questions for you:
1) From how much time are you doing this full time?
2 ) Which exchange you use?
3 ) How do you decide to go for long or short in particular coin?
4) Do you use stop loss or it is all or nothing?
5) Do you have some other tips for people starting out?
 
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1. my friend is i am not
2. he use binance
3. he use news from me, but basicly it's trend and fundamental news
4. ofc always use stop loss and take profit
5. cryptocurrency is already volatile enough, and i will give you the same suggestion i give my friend. dont' play crypto with future it's risky as hell.
fyi everytime i hear his profit it's insane like 100k per position, but it's the same with the loss too.
if you really want to try it. than my suggestion use only 5% from your total per position and never use more than 20% from your equity
 
I've tested out Binance futures but obviously, I am a novice by all means. Gotta dedicate at least a few years to this as the learning curve is huge.

Since you asked about exchanges I'm assuming you want to do crypto futures... you need to learn FX and different options and go with a funded account instead so you won't be throwing your own money away.

If you don't know what a funded account is then look it up on Google.
 
Elvlin said:
3. he use news from me, but basicly it's trend and fundamental news
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Elvlin said:
everytime i hear his profit it's insane like 100k per position, but it's the same with the loss too.
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Your friend is making 100k per position but needs to get the industry news from you?
 
INCC said:
Your friend is making 100k per position but needs to get the industry news from you?
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yes and what is the problem?
he does have some future group to. but doesn't change the fact that he use news from me.
 
Is to risky future trading . I would say if you like high risk then go on with it but only bet on the money you can lose
 
Elvlin said:
yes and what is the problem?
he does have some future group to. but doesn't change the fact that he use news from me.
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I've had this impression that anyone who uses 6 figures' position sizes can do their own analysis but hey, I learn something new every day :D
 
INCC said:
I've had this impression that anyone who uses 6 figures' position sizes can do their own analysis but hey, I learn something new every day :D
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well i think in your imagination only those that live on trading with profesional experience trade in 6 figure, maybe correct on futures forex stock, since either you expert, or put your money on experienced trader.
but on crypto don't underestimate how much people earn on bull last year. there is a lot position than earn you 100x and more without any margin. now if you add margin 10x 25x well...
 
Mombod said:
Can I ask why?
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Stop-losses prevent large and uncontrollable losses in volatile trades. If you’re not using stop-losses, it’s only a matter of time when a large losing position will get out of control and wipe out most of your trading profits, eventually even your entire account!

The importance of risk management cannot be overstated, especially in an environment as volatile as the crypto market.
 
1) It's not really a full time thing as I prioritize other things, but technically it could be since it's a good source of income. It took a few months of learning and then a few months of failing before I finally got good at it.

2) ByBit because of no kyc

3) Pattern recognition, paired with an indicator and oscillator to confirm trends

4) Yes, always set a strict SL and then a trailing SL (adjust the SL higher as you reach your profit targets to lock in profits and prevent losing)

5) Don't use leverage, always use 1-3% of balance per trade maximum, don't enter trades blindly, learn how to analyze charts.
 
Rakzs said:
1) It's not really a full time thing as I prioritize other things, but technically it could be since it's a good source of income. It took a few months of learning and then a few months of failing before I finally got good at it.
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So it took you only around 6 months to learn TA, FA, charting etc? That's impressive :D as here I am sitting on 9 books of technical analysis, market microstructure, and Udemy courses + Babypips :D

I've made peace with myself that I'm not hitting anything before 3 years of excessive learning.
 
krishnaverma said:
Do you have some other tips for people starting out?
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90% of crypto traders lose money in crypto trading. Why ? Read https://www.blackhatworld.com/seo/bitcoin-dead-cat-bounce-or-breakthrough.1413008/#post-15331476.
 
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Trust WorkShop said:
90% of crypto traders lose money in crypto trading.
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And not just crypto traders.

I was checking the data one prop. company had on their site. For those who don't know what it is then basically you pay a fee to go under 30-90 days test where you'll be given a demo account to trade ($10-200K and more) and if you pass the test the fee will be refunded and you'll be given a live account with $200 K funds to trade. The profit split on the live account is 80 % to you and 20 % for the prop. company - You need to raise the demo account by 10% per month to successfully pass the challenge and not lose more than 10% of the initial starting stack and yet +98 % of people are failing the challenge.

So they are paying +1000 USD for a test that they most likely will fail, but the thing is that most people who are taking these tests are never putting any work in. They are just gamblers.

What's the percentage of people failing from that 98%, those who have studied for years? Not that high at all.

You either study a lot or go bust. You'd have more chances in casinos than with futures if you don't know what you are doing.
 
INCC said:
So it took you only around 6 months to learn TA, FA, charting etc? That's impressive :D as here I am sitting on 9 books of technical analysis, market microstructure, and Udemy courses + Babypips :D

I've made peace with myself that I'm not hitting anything before 3 years of excessive learning.
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Check out Insilico Bunker Telegram if you want to learn quicker, will warn you it's a lot of info but if you put in the work to read their posts, test them, etc you can learn in a very short time.
 
I had gone below over 70 dollars , then just left the trading screwed on Binance .
 
INCC said:
And not just crypto traders.

I was checking the data one prop. company had on their site. For those who don't know what it is then basically you pay a fee to go under 30-90 days test where you'll be given a demo account to trade ($10-200K and more) and if you pass the test the fee will be refunded and you'll be given a live account with $200 K funds to trade. The profit split on the live account is 80 % to you and 20 % for the prop. company - You need to raise the demo account by 10% per month to successfully pass the challenge and not lose more than 10% of the initial starting stack and yet +98 % of people are failing the challenge.

So they are paying +1000 USD for a test that they most likely will fail, but the thing is that most people who are taking these tests are never putting any work in. They are just gamblers.

What's the percentage of people failing from that 98%, those who have studied for years? Not that high at all.

You either study a lot or go bust. You'd have more chances in casinos than with futures if you don't know what you are doing.
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Do you mind share the company's name ?
 
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