I heard Steve Cohen's first day as a trader he was given $20 000 to manage and made $9000. How did he do this?

Can you recommend a book for noobs

honestly, best way to learn is to do it. its like learning to ride a bike. you can watch all the videos in the world, but you won't learn unless you get on the bike. As far as a book, jesse livermore was a beast when it came to reading the tape. he also pyramided into his trades and made/lost fortunes. If you are young enough to make it back, press your trades and go for gold.

A good example would be volume trading I guess. You can follow market makers and institutional traders using level 2 and see where all the size is trading at. define support and resistance. If you are a whale you can spoof size to get trades to go your way (highly illegal and one of the reasons I don't trade anymore).

forget about lagging indicators unless you can trade weekly/monthly charts. for day trading you can use a 5 min chart for overview and a 1 min chart for entries. A few support/resistence zones and thats it. if your chart looks like spaghetti you are doing it wrong.

its stressful as fuck and a youngmans game. now you compete against HFT its annoying as hell. Slippage ruins your entries and exits.

Best advice: keep wagecucking and trade crypto off the weeklies. Buy the dips and DCA. You can buy me a beer in 5 years with your crypto gains.

reading level 2 order book.Google that

this user gets it. if you want a free education go access the most liquid exchange (Binance) and read the orderbook plus the time and sales.

Do some paper trades. Keep a trading journal. plan it like a successful bank robbery, in reverse. you better have an exit before an entry. get a core position and trade around it, buy the dips.

Shit I miss day trading but that is a dark rabbit hole I plan to avoid in my boomer years.

How can I do this when everytime I buy or sell I get B O G G E D

then wagecuck, buy the dips, and DCA into long term holdings and in 5 years you will be able to buy user a beer with your crypto gains

what are some good long term prospects tho

people are going to shill you vaporware scam projects.

I would suggest you go at least 50% of your crypto holdings into a crypto index fund like C20 (Crypto20, trades on HitBTC, based in South Africa, Tracks the top 20 cryptos, excludes Tether). They only charge 0.5% fee per annum.

You may not got a rocket fueled moon shoot but if your time horizon is 5 years plus, index investing is the best way to go.

I can name a few of the top of my head but there are probably hundreds. Look for cryptos that have real world use built in with it. Chainlink, ripple, request, even stellar lumens are all good bets in my opinion. Yes holding for 5 years will be effective, but I believe there will be several easy dips to catch along the way up

These past few months have been a dipfest. everyone posts pink wojaks meanwhile the smart money has sat on dry powder and is only now putting that money to work.

I am backing up the truck on two projects right now that have the potential to go 10x once they platforms go live.

The failed breakdown to sub 6k has given us a solid floor and summer is halfway done. Once the whales comeback from vacation its on like donkey kong. green dildos all the way till xmas.

tell me about floors

well you can get hardword, tile, linoleum. I like brazilian hardwood or bamboo.

that it bro, I'm only trading ichimoku cloud from now on....

doyr on wtc then buy and hodl.

waltonchain 100%

you have 5 years to figure that out
don't listen to people here. this isn't a long term investment board

>price action/order flow
So what does this actually mean?
like can you give one example?

Step 1: be jewish

kneepads

>for day trading you can use a 5 min chart for overview and a 1 min chart for entries
does that apply to day trading cryptos? in my experience higher time frames are better for trading shitcoins