Most of my job is in home office and i can watch the markets most of the day. I've been trying to learn basics off the internet.
Say i have 1000 eurto use on binance. How much return should i aim for daily? Since they take 0,1% per order, i guess in the range of 0,4 ... 0,6%?
Is using mostly stochRSI viable? What could be the pitfalls or dangers? Any useful resources or channels for learning? What pairs are good for daytrading?
The danger is losing ur euro. Get a real strategy thats back tested and dont over leverage. Also get at least 10x that money
Christopher Clark
What are these "real strategies"? Care to share some resources for them?
Mason Torres
i actually think its better for a beginner to not use a strict strategy, but instead read market conditions and follow trends.
learn ichimoku cloud and just catch trends
Samuel Hall
tl;dr is dont. you're not the 0.01%
>How much return should i aim for daily? Since they take 0,1% per order, i guess in the range of 0,4 ... 0,6%? dont aim for a set % per day, just aim for making good trades, one after the other. track your pnl over time and you'll know if you're profitable or not. it's kind of a binary thing. 99.9% of people will just lose all their money over time and keep depositing it back in. the 0.01% that can make money will keep scaling until theyre a millionaire. there's no in-between.
>Is using mostly stochRSI viable? there is zero alpha in all of the stock indicators. >What could be the pitfalls or dangers? its a lagging indicator so you'll be selling as the asset is just starting to moon when you should jump on the momentum trade. >Any useful resources or channels for learning? if you still want to get started & lose all your money, redxbt's stream is a good intro but there's no shortcut around staring at the 15m chart for 10 hours a day for 3 years. >What pairs are good for daytrading? Bitcoin perpetual swaps.
Samuel Parker
The money i can spend is something i can afford to lose. I plan to start low and see how things go and operate according to the gained wisdom. I have no plans to invest oll of my assets in daytrading. Its just something to fill in the gaps in my main job so i am able to be little more productive. Funny thing is, that googled around and found so many articles of these lol-weed-lmao type of people just bullshitting around and eventually making ridiculous results while saying "just buy low sell high bro" assuming that they are genuine stories. So i thought that an engineer like me, cant fail that hard with resources i have no fear over losing.
Gabriel Nelson
>not using algo trading using binance api and only doing market making to avoid the fee >using reddit spacing ngmi
Isaac Baker
What is reddit spacing? i am not familiar with reddit at all.
Only trade with funds you are ready to lose. Buy low sell high, unless you're a true Zig Forumsnessman then you might want to buy high and sell low. When you swing always calculate your benefits taking fees into account. Buy BOND.
Brayden Moore
Why wouldn't i make it?
Wyatt Watson
how to do only market making orders?
If you set a price for a limit order buy and someone else already made a sell limit order at same price before you, you will become a taker and not a maker
Brayden Walker
because crypto day trading is highly automated. which means you will have to trade faster than the algo's.
Xavier Davis
How automated? In the sense, what is the depth of the automation? I am capable of writing code and algorithms myself if necessary. I guess a little bit of experience in market analysis and i could fare relatively well. I'm just looking to gather that experience and hoping you could guide me somewhere.
Just trying to make it for my sons.
Camden Brooks
sure but you should use automated market making with faster refresh rates to minimize this. try to make the spread between the bid/ask. hard to do in more mature markets but in more illiquid markets spread is sometimes even a few%
Camden Foster
just search for algorithmic trading, quantitative trading, hidden markov models,...
Chase Wood
VCdepth.io activate MDR (market depth ratio, it is (bids-asks)/(bids+asks)) ) basically gives you demand for the all market, see how price reacts to the tool, don't simply buy when green. In filter>books you can see at multiple depths
fr.coinalyze.net/futures-data/ go to btcusdt-perp on binance so you can have sentiment. activate liquidations, aggregated open interest, aggregated funding rate, and long short ratio. markets react a lot to futures market, just go to history and see how sentiment and open interest will predict the price somewhat
hyblockcapital.com/ good chart with some nice indicators even for the free version
youtube.com/watch?v=8NyP_XzqgGA this is how the market operates usually. HOWEVER, it was of no value during the bullrun; parabola wins everytime. still good in range markets.
Julian Hill
How long have you been doing this? How old are you? What are your returns? What did you start with?
Eli Kelly
user. I'm a successful day trader. I have been day trading for almost 4 years. I put in a initial of $1500 and got that up to +-$350 000 during that time.
I aim to make around a $100 a day sometimes I make much more sometimes I make less. I couldn't teach you how to do it if you paid me a million.
How I got to this point was through just actually trading. Focusing on capital preservation before focusing in making money. When I started I was happy just not losing money and celebrated a $0.15 profit for the day.
You need time and you need pattern recognition. I had/have both. My IQ was tested at 16 to be 163 and I had one year to laze about the house. I'm not saying this to brag but to try and illustrate that I was very lucky from the start.
Ama anything I guess.
Grayson King
not doxxing myself. i'm advanced in using statistic models. if you get good at this the return is huge. crypto markets are relatively predictable. if you really want to go pro: i've built a algo bot (nothing to fancy) that integrates twitter sentiment scoring. gets about 80% hit rates on volatility prediction.
Jayden Lewis
>ama anything >163 iq topkek, can't make this shit up
Levi Gray
I'm intrigued and I'd be very curious to see your bots "opinion" on XRP, it must be a serious outlier
Luis Diaz
You have to go back.
Brody Thomas
You're going to get rekt. Don't do it. Thousands of idiots just like you think its gonna be easy peasy. But you're never gonna make it.
Carson Wright
If i'd drop any activity with the idea that it's very difficult, i wouldn't be an engineer.
Lucas Taylor
nice attitude. gl to you
Juan Edwards
set aside a lump of money to trade with that you expect to lose and go for it. again, you'll need to stare at the 5min chart until ur eyes bleed. ply around on fidderent exchanges, look at options & get a feel for the general bitcoin market structure.
you don't need to write an algorithm to trade for you, as is claiming. i personally know a couple very profitable traders who do everything by hand, so i know it can be done.
Blake Morris
>My IQ was tested at 16 to be 163 and I had one year to laze about the house. so you're 17. MOOOOOOOODS
Carson Gray
I will never understand people online. If someone claims to be 6'10 (which is around 3 standard deviations) people believe them but for some reason nobody can fathom people with an IQ higher than a 100 using obscure internet forums and people who claim it are automatically lying.
Idioot.
David Lewis
Cringe
Angel Adams
Hi SalsaTekila
Alexander Adams
>aggregated open interest, aggregated funding rate what do these show?
Nolan Nguyen
>I'm trying to give my sons a better future. Day trading is gambling. You are gambling with your son's future. The longer the timeframe for you trades are, the more likely you are to succeed. If you plan on making trades that span a month or two, you can successfully outpace Bitcoin. And outpacing bitcoin is legendary investment growth. The chances of you succeeding with day trading is improbable.
