Thread 60914302

redpill me on day trading. is it a legit way to generate income or is it a jewish scam?

>>60914302 (OP)
>for crypto it's pointless unless the market is pumping. For stonks, I dunno

>>60914302 (OP)
everyone in the world is trying to day trade all at once, and very few make the cut to be more profitable than s&p monthly/yearly % returns. it is possible, but is it possible for you? probably not based on your post, which doesn't demonstrate any keen intelligence.

>>60914302 (OP)
I don’t know but there ain’t no such thing as easy money

>captcha: GAYX4

>>60914302 (OP)
I'm trying it out. I made like 2k+, then got emotional, FOMO'd, and lost it all. I've since been trading my way back up to what I had before I lost it.

Dopamine wise it's like gambling. It can be done but requires nerves of steal. You're always learning, each loss is just a learning experience.

For the love of god DO NOT get emotional. If you get emotional, do NOT react, keep yourself away from trading until you come back to your senses. What I learned is if I stuck to my plan, I wouldn't have lost. Every single time I reacted emotionally, I lost. Every time without fail.

>>60914353
How did you get into it? Any reliable learning resources online besides your run of the mill, random ass youtube e-celb? What sort of software do you use, e*trade ?

>>60914320
thanks for the inspiration boss

>>60914302 (OP)
it is legit but you need experience on reading orderflow (for optimal winrate) and determining points of interest
(everyone has a different approach to this so you need to build your system of finding & executing quality ones)

watch this so you see how a experienced guy does it
https://www.youtube.com/watch?v=cLgdXZnLL_0
(don't mind the scammer e-celeb type style to this it is actually pretty good)

>>60914302 (OP)
takes years of walking around in a maze

>>60914302 (OP)
>redpill me on [gambling]. is it a legit way to generate income
yes
go all in

>>60914370
>How did you get into it? Any reliable learning resources online besides your run of the mill, random ass youtube e-celb? What sort of software do you use, e*trade ?

I guess I should mention I'm day trading Crypto not stocks. Just using Coinbase One. Stocks are too slow.

And I didn't really do any research like that because everything I've seen about it over the years has not been helpful. I am using a strategy that I came up with myself and could be absolutely retarded, or not.

I picked a coin that I knew was NOT a fucking meme/scam. I looked at it's volatility to see how much it fluctuates (so goes up/down by 5-10% on most days, I consider this ideal) and just went all in. Set stop limits each day and take a profit at 5-10% increases (lately it's been smaller though). Then I wait for the price to settle for the day, buy at around what I think the lowest will be for the day and repeat. When I did this at first, I was able to make that 2k in like 3 days of trading. Them my stupid ass panicked due to huge green candles and FOMO'd in. Bought the top and rode it all the way down. Now I'm slowly climbing my way back to my original position. If I stuck to my original plan didn't react emotionally, I'd be up $10k minimum by now.

>>60914302 (OP)
just buy gold

>>60914449
Right on, thanks, this is the sort of input OP was looking for.

>>60914534
>trading Crypto using Coinbase One
I've got crypto holdings on coinbase but I bought them a couple years ago and have just been holding the bag.
whats the advantage to using coinbase one? do they take a lower percentage for each trade or something to justify the monthly price?

>>60914584
>whats the advantage to using coinbase one? do they take a lower percentage for each trade or something to justify the monthly price?
Yes. Also lets you do more than just Market/Limit trades.

>>60914534
>>60914584
To add. I constantly "adjust" my order based on how high it's going. Like if it's up by 10%, I set my stop limit sell to be about 2 or 3% behind that, and if it continues to go up, I keep adjusting the order. You can still get fucked over by giant fucking candles that skip right over your order though, which is what happened to me. But if I just remain FIRM and don't fucking FOMO I should be fine. I learned not to get attached to the price itself but to the percentage increase/decrease. That's the only thing that matters.

>>60914607
>But if I just remain FIRM and don't fucking FOMO
you can do it, I kind of wish I had more FOMO in me
I bought BTC when it was about 60k and kept thinking it would go lower and i'd buy more when it dipped... dumb. now its over 110k and I wish I had bought MOAR when I was gobbling of crypto back then
I've got BTC SOL and ETH but will look into actually trading

>>60914566
i'd also like to share some of the people i follow on X which i think has/had great content over their history
https://x.com/Stoiiic
https://x.com/Luckshuryy
https://x.com/atalantis7

https://x.com/praevidentia - Unfortunately now deleted. Was the GOAT for me, got me interested in orderflow. Some of his YT content is available here [ https://www.youtube.com/playlist?list=PLvmAt1btDCI2oLs7cWGdRbvYjaVU0MZFJ ]

>>60914629
Well that doesn't sound like you were day trading. FOMO when day trading is not a good idea. In my experience.

>>60914637
Cheers, have you had any success with trading?

>>60914639
I certainly wasn't, but I think my indecision to buy more at the time was also just as much of a misstep as your FOMO was

>>60914660
i usually don't know when to take a break so that affects my weekly performance
that behaviour eats into my profits but otherwise i'm net profitable over quarters

>>60914534
>Stocks are too slow
Nice risk management
I'll have a large fries and a coke

>>60914703
>net profitable
thats all that matters

I think you would really need about $1m of liquidity to get a solid income, and then have to deal with the capital gains taxes, paperwork, etc.

On top of that, you’re competing against the market. Trillions of dollars versus you, a relative peon. You need to be an autistic savant, a quant, or someone who wants an expensive hobby.

>>60914719
Crypto is more volatile so you learn much faster. Picking a non retard meme coin will help you avoid massive Rugpulls. You can also trade anytime instead of only during certain hours/days.