Day trading stocks/cryptocurrencies as an alternitative
 

I am learning how to day trade cryptocurrencies (not just hold) so that if I fall out of status I have a backup to earn money.

I lost a lot of money in the first few months but I think I finally learned how to trade.

I made about $10k over the weekend, lost $6k, profited $4k. That's about $1k/day. Again, by trading, not holding. Holding can give you much, much higher returns but it's risky and unpredictable. I'd rather learn the skills of trading and average $500 a day.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Been thinking about this too. My gfs mom does it. Have any good resources to read?

Re: Day trading stocks/cryptocurrencies as an alternitative
 

just google for it. maybe try a simulator to get the feel for it. I jumped in with 10k and lost a lot, took months to break even, so I guess the desperation was a strong motivation

desperation strong motivation

desperation strong motivation

I'm saving that line

Re: Day trading stocks/cryptocurrencies as an alternitative
 

With that being said, I don't know anything about cryptos, don't care for it, and don't believe in it. I'm convinced that the only reason it took off was because of the hype and low entry barrier for average people (like me) who would otherwise never trade regular stocks. It's nothing but a game as there is no real value to coins. I get in, get paid, and get out. It's gambling because it's addictive. I woke up at 2am to check on Bitcoin. I hate the fact that the money I make is the money someone else lost.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Also a lot of traders talk about chart patterns yada yada. It's all bullshit. It's mostly random. People just want to come up with patterns to make sense of this shit. There are no patterns. Trading is stupid, it's not science.

The only time chart patterns might make sense is when a lot of traders are looking at the same chart and think "hmmm this looks like it's about to go up" so it goes up as a self fulfilling prophecy. In that sense there might be some psychology to consider.

The thing that really matters is volume and support/resistance levels which can be analyzed by looking at the order book and seeing where the interest is.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Also another thing that pays off is NOT to rely on posting orders and hope for it to get fulfilled. Pay the broker's fee and get ahead of the curve and catch the ride up. You can lose a lot of money by catching falling prices because you post a buy order and it got fulfilled as the price crashed. I lost a lot of money this way.

Posting sell orders is a different matter though. You should post a sell order when the price is going up and close to reaching your profit target*. If you made a mistake and the price went south, you should however pay the brokers fee and sell to exit the trade. Remember you have to accept losses (usually no more than %2 of your account). Do not make the mistake of "I'm going to stick around a little longer and see if it'll get back up". If it does, awesome, you can get back on it. If it doesn't, you're fucked. You can only stick around and wait for it to go back up if you see strong support levels.

* Don't get too greedy on your profit target. Aim for a few bucks here and there. I should have mentioned that I currently have $30k in my account. A "good" trade yields $200 bucks. Suppose I buy 300 Litecoins at $100 each. The price goes up to 101. That's $300 difference. Minus the broker's fee of $80. $220!

Once I prove myself to get a little better I'm going to put in another $20K.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Just made $1500 on 5 separate trades as Litecoin skyrocketed from 200 to 230+.

Could I have made more by holding? Sure, but I don't want to risk getting slaughtered when the price inevitably crashes.

Also the website is super slow when the volume is intense so the service could go down while I'm stuck in a trade.

Get in, get paid, get out!

Re: Day trading stocks/cryptocurrencies as an alternitative
 

When the price of litecoin skyrocketted I noticed that bitcoin had gone down a lot, presumably from traders moving their money into litecoin. when litecoin's price stabilized, the buy order volume on bitcoin was very high, so took a risky bet and bought it. The price went up a little but didn't seem to hold up. I made $50 and got out quickly since this was a risky bet anyway. A few minutes later the tides turned and the sellers continued winning. The $50 was not worth the risk I took. This was a bad trade, I should not have done it. It creates bad habits.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Thank you for using this website as your personal diary.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

weren't you the one interested in investing? I'm just to inspire dreamers who need an alternative for work when their permits expire.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Made Another $700 as Ethereum skyrocketted from 495 to 507. I got out just in time before the price fell to 290 (and counting) within seconds.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

I am but I don't know the ABCs of investing! :(

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Just give all your savings to carnivore. He will multiply it.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Keep the diary up.

I'm also interested in crypto investing and been reading into the technology. So far I have doubled my money hodling but I am more interested in day or swing trading and compounding.

Quick question. Which exchange are you using.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Gdax

Yes you can make much more money holding . But you can also just as well lose everything. I learned the hard way because I bought at the top back in the summer then bitcoin crashed from 5k to 3k. Sure it's now almost 20k but what's stopping it from crashing even worst? Nothing.

I'd rather:

A. sleep at night knowing my money is safe

B. learn the skills of trading so I can do this for the long, long term, maybe even move on to stocks if the crypto market falls completely.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Most people agree that this is a bubble that will burst sooner or later. A lot of the bitcoin owners are in China and there are no rules against colluding. All it takes for them to all cash in at once and this will become worthless overnight. Hardly a secure future plan.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

I tried getting into this, but so far I keep running into hiccups with coinbase, it is frustrating as heck to just get my first buy going.

Anyway, it was all for naught, as my banks won't even allow coinbase or cryptocurrency trading, so I have no fucking clue whatsoever what to do now.

I was reading some shady stuff where you take cash and trade with users locally...like a craigslist for crypto, but that shit seems even more frustrating and risky.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

You can do that on localbitcoins.com, but then you'd be paying like $1-2K more per bitcoin.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

I actually don't mind opening an account for him to manage and let him keep certain percentage... you in Carnivore?

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Ahhh yes yes that's the website.

Not my cup of tea, so alas I am assed out.

I have a feeling litecoin will hit 1k+ by end of 2018...and to know all I needed was my bank not to hold my money hostage...smh...

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Can you elaborate and explain more on this? Would love to understand more. I agree that the patters analysis feel like complete BS.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Ether could hit 1K this month and likely increase the coin 10x next year.

1. Cryptokitties going mobile....

2. UBS, Barclays and Credit Suisse developing on the ether block chain

3. Futures trading for Ether and Litecoin is rumored to be coming out soon now that Bitcoin has been successful

The irony in this is Ether went over 700 today.....hold!Not only volume plays a role...watch the news stories concerning a specific coin as well. LTC and Ether are rumored to soon be traded just like Bitcoin futures.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Ianus,

What bank or credit union do you suggest I try? Because if I can't get some kind of account open on Saturday, then I lose out on another week?

Should I open up with BOA? Chase? Citibank? I am in NY btw...

I'm probably going to use that bank account exclusively for crypto trading.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Actually, maybe it was the payment method that is the problem?

I only tried verifying my debit card so far on coinbase, and the verification worked but trying to use it is where the problem was.

Do you think my actual checking account will make a difference, as I am still waiting on the 2 verification deposits to show up so I can verify it?

What if I send a wire transfer to coinbase? How does that work?

I am just afraid that getting any payment to go through to coinbase will have Capital One closing my account, or whatever ridiculous thing banks do these days against crypto trading.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Re: Day trading stocks/cryptocurrencies as an alternitative
 

There is money in Crypto,

is it a bubble, (who freaken cares as long as you make your money)

i am a holder ( so best believe you can make money holding)

yea you can make money day trading, but if you dont know what your doing, good luck

i been in Ether since 7 dollars so yea i was blessed,

all i want to say, there is a lot of different ways to make money in crypto,

if you hold coins that are POS & hold masternodes ( you can make passive income)

so you have to play the game right, but dont think you can just jump in and make money

i day trade about 25 percent of my portfolio

and i have a longterm portfolio, and i dont care what everyone says,

this is for the long long term......(2018 is probably going to be the best opportunity for all to break this chains and become millionaires, just letting you guys know)

im sure i will stop working in 2018 so im happy about that,

here is my portofolio break down

50% NEO (my biggest bag......even if it drops 90 percent in price i will be at a profit but i think NEO will be at 300 - 700 dollars next year)

the other 50% is composed of the following (TEZOS,DRAGONCHAIN , RIVETS , WABI , STRATIS , VTC, ARK ,VERITASEUM, DAVU,GAS)

predictions

GAS( 200-500 is doable)if you hold NEO you receive GAS( i receive 6-12 GAS per week) so 200 per week
Ark(another platform, it will be at least 10-20 USD)
Tezos(futures are already at 4 USD) i got on the ICO, so profit already (10-300 USD)
Dragonchain (based on the disney name affiliation ) 4-100 USD
Rivets(listing on exchange at the end of month + partnerships(5-10 USD)
WABI(based on what WaltonCoin did,) 5-10 USD
STRATIS(was in strat since it was 17 cents (now 10 USD) but will be much(30-50 $)
VTC(vertcoin will follow the Litecoin route)so expect 50-300 USD
VERI(hyped by Cliff High everytime, he has it at 1,000 - 16,000) yeah crazy
DAVU(owned by JAguar & Range Rover, so i expect big things in 2018
BUZZ Coin (i hold 5 million coins, (staking 50k per day) or 30-40 USD per day

Re: Day trading stocks/cryptocurrencies as an alternitative
 

I lost 4000 of my profits these past two days.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

You do know that you're not a millionaire until you cash out right? And that the only reason there's money in crypto markets is because people put money in. So if one person gets rich, someone else lost everything. Once people start cashing out, a lot of people will lose. It's not like stocks where stocks are backed by a company that makes profits and pays dividends. There is NO value to coins. It's all hype.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

true, your right, and is all speculation now

i have a plan to cash out slowly beginning next year,

lol but i aint gonna cash out entirely of crypto,

i believe this will be longterm.......and like i said is very different for me since im in such big gains that losing at this pt honestly dont matter

2017 had 3 Bear Seasons which i survived and made me tougher.......

im a believer Bitcoin will be 100k to 500k
ETH 2500
LTC 2500

and if the CME group tames BITCOIN how they say they will,

we got BITCOIN CASH (which coinbase is going to release to all is users of 2018, and im sure it will be the 4th Asset available for trading on GDAX) so think about Roger Ver & Jihan backing(they will take BCASH to 10k easy....

Ethereum ( Ethereum will release Casper on 2018 ) and it will be complete POS with Znarks(ZCASH tech), so i expect more companies to come over and built DAPPS on top of Ether

LTC (litcoin will be used to move big chunks of moneys since BITCOIN is to high on its fees)

RIPPLE( I HATE THIS FREAKEN COIN, but it will finally be used by the banks though) specially in ASIA & the MIDDLE EAST

Ethereum Classic( all the mining rigs will be pointing at ETC because Ethereum will be POS)

DASH (DASH will break 1,000 easy, and will head north of that) Evolution wallet will be relased in the summer of 2018 and will compete againsy paypal (let alone their masternodes are now worth 1 million dollars!!! (competition PIVX,EXCL,CROWN etc....)

CARDANO (ADA) will compete against ETHEREUM

EOS (the supposedly Ethereum killer) is already 6 bucks bro...this will release on testnet on March, (created by the bitshares developer)

NEO ( NEO is also the Ethereum Killer Asia Version that has a diference that no one has payed attention to, is Government compliant

so honestly bro i can keep on going,

but this has a looooooooooooooooooong time..........

so yea 2018 will be a great year......just look at this month, i expect for all coins to do x20 next year, since the new money is coming, this is global so catch a seat bro.......train is about to go full speed

just wait until they release more assets on GDAX, they already have the application for coins to get listed ( rumor is RIPPLE, GOLEM, DASH, AUGUR are next)

Re: Day trading stocks/cryptocurrencies as an alternitative
 

hbone, I am curious about something.

What banks will allow crypto trading? Or do you use other more complex methods?

I am trying to just dip into the pool alittle, but my bank is cock blocking my account from getting into crypto.

And how the heck are you investing in all those other things like RIPPLE and NEO etc.??? It seems like such a risky complex thing to keep track of.

Here I am just fighting with my banks to use my own money...smh...

Re: Day trading stocks/cryptocurrencies as an alternitative
 

i used Bank of America when i started ( i had that usual problem were the transaction didnt go through and than i would always receive a call from their fraud department asking me if i was making those transactions and then i told them to lift whatever ban they had on any coinbase transactions i was going to make " and that worked, also i used Wells Fargo, same shit happened, and with Capital One, that went through without any problems,

What do you mean how im i investing in those other things??

GDAX & COINBASE aint the only exchanges,

you got

Bittrex.com
Poloniex.com
Binance.com
Liqui.com
Coinexchange.com
Coinsmarkets.com
Mecatox.com

Im waiting for Friday to get on the BREAD ICO (it already had a partnership with Binance, so they will be listed for trading there after the ICO is over....

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Cap 360.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Also there is a lot of ways to make money


HOLDING: just buy and wait until the price goes up

POS coins: Hold coins in your wallet at home and you will be rewarded by receiving a stake depending on that coin

POW coins:Use miner rigs or CPU power to mine coins

DAY TRADE: Self explanatory

Masternodes: Own a certain amount of coins and you will be rewarded everyday

ICO'S: invest in ICO's and the coin might be in demand before it hits the exchanges so price might be higher once it hits the exchange

Bounty Work: do stuff for the ICO's dev team (translate, promote etc and receive coins from the ICO for free

Re: Day trading stocks/cryptocurrencies as an alternitative
 

Indeed, I got into BTC around 11 dollars and mind on a dedicated PC. Also, bought ether at the beginning of the year. Some are simply not applying the right strategies or researching the currency in question thoroughly. The mania of getting in quick and out will burn your wallet.

I have seen better than 90% who held BTC sell and buy back get burned in regret that they should have held. There are certain currencies that you trade in the early part, but trying that with more established crypto will burn your net worth VERY quickly.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

DAMM bro, you got in at BTC at $11?

Re: Day trading stocks/cryptocurrencies as an alternitative
 

I have seen it as low as $2.50 on the early exchanges.

BTC was very easy to mine and trade six years ago. I mine and traded for extra income when jobs were difficult due to "papers."

Re: Day trading stocks/cryptocurrencies as an alternitative
 

and your not rich???

you didnt keep any bitcoins in other computers at the house lol,

you might get lucky enough and find 10 BTC in a random old wallet

Re: Day trading stocks/cryptocurrencies as an alternitative
 

The value of BTC only vastly increased(15x) this year. I DO have BTC, but also other old coins as well.

I have over 20,000 I/O coin. 2000 Solidcoins-dead(scam) and a fair number of BTC.

I didn't get into crypto to be rich. Actually, it was just to supplement income, be apart of the experiment that was crypto and to see how the system worked. The rest is history.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

missed out on btc and ethereum but i made some decent $$$ with ltc.
going all in on NEO now, and it's looking real fucking good.

Re: Day trading stocks/cryptocurrencies as an alternitative
 

So what's the deal with all the trading platforms like Bittrex etc...is it safe to be throwing my bank account info all over the place.

Just curious about the safety precautions when getting into this trading as it seems overwhelming.