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Daytrading Crypto: My Journey

Discussion in 'Investing/Trading/Cryptocurrency/Altcoins' started by Matteo Zhou, Nov 30, 2018.

  1. Jaden Jones
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    Jaden Jones Igloo Builder Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Maybe with something like Beanie Babies, but stocks have real value tied to the income of a company. By Buying TRX or BAT, your simply hoping someone will pay more for it than you did, when there is really no reason to.
     
  2. Maxboost
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    Maxboost Silver Contributor I've Read UNSCRIPTED Speedway Pass

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    It's the greater fool fallacy and the reason why cryptocurrency is a religion at this point. Many scammy people are too financially and emotionally invested into it. If there is no greater fool, there is no money...period.

    Even if you were to short, you still need to find a sucker on the other end....
     
    FinTech and Jaden Jones like this.
  3. JordanS
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    As someone who also day trades, I wish you luck.

    Not sure why people are arguing over bitcoin itself, that does not matter. It could fall to $100 or rise to $100000. Either way there is money to be made day trading.

    We aren't buying and just hoping it goes up in a month. Get in and out for a few % and be happy.
     
    Matteo Zhou, Dramolion and Artifax like this.
  4. Jaden Jones
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    I day trade as well, the point being made is that stocks are more predictable, and better regulated. I played around with day trading BTC, ETH, and a few others, and it wasnt even remotely the same. Plus most exchange are crooked, especially on margin. They will find reasons to screw you, because there is no regulations. And the amount of trading bots for crypto is ridiculous.
     
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    kiqu PARKED

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    May I ask why you chose Crypto currencies as opposed to more established (and probably more liquid) financial instruments?
     
  6. Matteo Zhou
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    Matteo Zhou New Contributor

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    WEEK 1 REPORT:
    The first week i made a total of 16 trades, overall it was a very good week.
    I made some very good trades but many bad trades too due to emotions.
    sometimes the difference between a profitable trader and an unprofitable one is very slim,
    the main thing to take in consideration is emotion, we got emontions because we are humans, but in the world of trading one has to be as techincal as possible. That is why putting a stop-loss is essential, even the best trader isn't 100% correct that is why putting a stop loss is the best way to counter it.
    i started the journey with a bankroll of 3261.99
    It seems i'm not able to post images, anyway my current bankroll is at 4756.59
     
    Megan Kay and Dramolion like this.
  7. Matteo Zhou
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    Matteo Zhou New Contributor

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    Yes i have a strategy that combines all the indicators to strenghen my calls.
    If after a considerable period i'm still doing good i will share my strategy to the forum.
     

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