Day trader Thread

Greetings, fellow daytrader, how technical do you get when making a trade? Personally, I just sell a 2-5% pump and wait until I see a coin that’s bleeding very badly then buy into that, rinse & repeat. Although I’ve made profit majority of the time there have been times when I lost 3-5% on a trade. Always looking for tips, nibba out!

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I find "low" volume shitcoins on exchanges that have insane wash trading like bibox and coinbene and shit like that and I look for high spreads between buy and sell, have some patience and set nice orders 6-7% sometimes the exchange will just outright buy everything then you just buy back in once the price returns to normal. It might only happen once,twice a day but anything is a +. You can catch some insane wicks. For example I've caught 2 out of 3 spikes here. Look at previous resistance levels. Don't know how algorithm works exactly for the bots but you can manipulate it once you feel it out.

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Whats your EV?

Who else here is trading without paying any fees?

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Take this order book for example. These are all the exchanges fake. Maybe that 2k one is real but it's hardly enough to stop the bullet. The buy order will zipper up all the way to my 19k order and buy it outright then drop back down 1 second later to normal prices. The fake volume will also taper off a bit then pick back up.

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"These are all the exchanges fake sell orders"

What's EV?

expected value

what is the probability of your trade behaving how you predicted it would times the average amount of money you make summed with the probability you were wrong times the amount of money you lose on average

Not really sure off the top of my head but I'm positive in my trades about 90% of the time because I'm a pussy and as soon as that sell order goes off I'm immediately buying back in not waiting for it to drop lower naturally. When I do lose money it's very little because sometimes I jump back in with a very low loss, I've really never lost more than maybe 1% on a bad trade.

Sometimes I trade the waves naturally and that's when I miss my mark a bit more but thankfully I'm thick skinned enough that if it does pump I'm confident it will drop back down again eventually below my sell price.

As a trader you should look into EV, its one of the primary statistical tools we use

Do you always use a stop loss? If so, how do you determine your stops?

I'll definitely look into it sometime soon it's just ~5am and I can't into math right now

I've never used a stop loss I just go by feeling

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>I've never used a stop loss I just go by feeling

I would advise against this. Develop a system where if something goes terribly wrong, gaps, regulation, exchange theft, what ever happens while you are in the trade you can get out. Shit happens when trading, it only takes once to get wiped out

How does a stop loss protect against something like regulation or exchange theft?

the price will gap massively, a stop will get you out at next best possible price

What's the difference then between just setting a limit order?

limit order is getting in where you want and a stop loss is getting out where you want

went from 1 btc to 3 btc back to 1 btc to 7 btc and then LIQQ'D fuck this day trading shit I will be sticking with my stinky linkys thanks