Thoughts on intraday trading
- Thread starter h3y4w
- Start date
h3y4w
Registered Member
- Feb 11, 2013
- 56
- 11
Before I had the bot running as a test and it made decent 1 or 2%. I was basing this off pretending to purchase orders and selling on smaller .5 gains. If it lose multiple times back to back it would automatically stop. Of course this doesn't determine liquidity and speed of order but for larger trade volume cryptos it should be minor.
Start with small money for testing. And test over longer periods. Don't jump in after 2 or 3 wins. Do proper risk management. Keep a decent risk to reward ratio like 1:2 With this even of you have a strategy that works 50% of the time you'll make money
Rikabu
Supreme Member
- Nov 4, 2013
- 1,233
- 956
1-2% is very small
For making $100-200, you must invest $10,000 and its a big red flag,
is that worth the risk you takin
Think wisely, in the end, it is your money and choice
h3y4w
Registered Member
- Feb 11, 2013
- 56
- 11
Well obviously but compound interest makes a difference and it's supposed to be a self managed system. If it makes 1-2% a day that would be amazing but it's hard to get that consistency.
foghorn
Regular Member
- Aug 12, 2012
- 270
- 121
I've been day trading for the last month and a half and have done pretty well. (1500 profit from 4k in 6 weeks) But I have many years experience in the market and was taught by my Grandpa when I was young and made a ton of high risk bets. Its not something you just jump into and start making money. Or maybe you do! You may get lucky 10 times in a row and think you know something when really you are just gambling and will lose it all in time like most people do. Most of the info on the internet is bullshit, gurus are all liars, even the big sites like Bloomberg are bullshit. They all get ad revenue from brokerage companies that that get all their revenue from you making trades, not making money. Its kinda a giant scam. In a bull market every is a genius and in a bear market everyone stops talking. Even Warren Buffet says he'd rather invest in a money making business than some stock or even something like gold. I like to browse wallstreebets on leddit to remind myself how it can all go wrong. Options are truly nuts. In short if you can make 1 percent a day you are better than warren buffet and should just be a hedge manager making billions trading other peoples money. As far as botting, yea the worlds smartest people are already on it. Good luck with all that!
venturetrade
Junior Member
- Aug 6, 2020
- 131
- 106
Day trading is gambling, no matter how experienced you are or what ingenious methods you think you have discovered.
Don’t think you have cracked the secret just because you had a nice roll,
If you understand that and still wish to proceed down this road, good luck and I wish you all the fortune in the world.
Don’t think you have cracked the secret just because you had a nice roll,
If you understand that and still wish to proceed down this road, good luck and I wish you all the fortune in the world.
h3y4w
Registered Member
- Feb 11, 2013
- 56
- 11
Yeah that's why I wanted to post here and see other peoples experience.
That's great what strategies did you use and with which crypto? I assume something with high volatility but good liquidity? Also the smartest people already do everything doesn't mean there isn't any crumbs for us to take. Their are way smarter people than you day trading but you said you made some money doing it.
foghorn
Regular Member
- Aug 12, 2012
- 270
- 121
Oh my bad I though we were talking stocks in general. I made some good money on the Grayscale Ethereum stock. The one that jumps all over the place for seemingly no reason. Then I keep making money on qualcom because all this tension with China is only helping them because they have been getting flat out robbed by China for a long time now and now Trump is saying no more. My strategy is mostly invest in companies that benefit from that. Options can turn a 1 percent stock gain into 100 percent gain for you but you will also lose it all when you are wrong. Realy I'm just trying to gather as much cash as possible for when the economy crashes. Having cash when no one else does is how you really make money.
h3y4w
Registered Member
- Feb 11, 2013
- 56
- 11
You can't even day trade stocks without $25,000 plus there are higher fees so this smaller trade margins don't really make sense. With crypto you are not limited as much when it comes to doing a lot of short term trades.
foghorn
Regular Member
- Aug 12, 2012
- 270
- 121
You can trade the same stock 3 days out of 5, really not that bad. If that's not enough you just open multiple accounts or trade another similar stock. Besides I usually hold for a week or two anyway. With crypto the government is all up in your ass where as I just buy stocks of companies that sole purpose is to hold crypto.
Macarena2020
Newbie
- Aug 15, 2020
- 14
- 3
I heard somebody saying: Trading is worthless, because it is for a short period of time. Nobody knows about successful longtime traders, but everybody knows successful lontime investors, like Warren Buffet for example. Would you agree with such a statement?
Nash Commerce
Regular Member
- Jun 29, 2020
- 539
- 862
People do succeed. But it’s hard just like anything else.
Day trading has much more risk than swing trading. Swing trading more risk than investing. More risk = more profit.
I swing trade on a multi week time frame.
Day trading has much more risk than swing trading. Swing trading more risk than investing. More risk = more profit.
I swing trade on a multi week time frame.
h3y4w
Registered Member
- Feb 11, 2013
- 56
- 11
Which cryptos do you target?
Nash Commerce
Regular Member
- Jun 29, 2020
- 539
- 862
I have long term positions in xrp and ethereum, in my opinion they have the best risk to reward ratio.
For swing trading don’t get attached to the coin or stock. Don’t look for a specific crypto, look for an edge and risk to reward.
It might be the most useless coin ever, but if it has a good risk to reward and an analytical edge on the market, I’ll trade it.
always use a stop loss.
not financial advice. Don’t make trades based on my opinion. Do your own research I’m not responsible for any gains or losses of yours because this is for entertainment only.
Zooker
Regular Member
- Jan 13, 2010
- 358
- 120
Both high volume cryptos anda high volume exchange.
Warren Buffet likes to pick companies that are worth more the current value which is a great long term strategy. Is it possible to apply the same logic to cryptos?