Is day trading a meme?

how does that work in the US though? will the IRS lock me up?

it's a serious career if you can manage risk reasonably

just keep it on an exchange the us doesn't have jurisdiction to get tax info from, or in a wallet that they cant touch

>holding on to your trade for more than 5 minutes

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its the future honestly

Yes it is.
I've worked in a financial firm, among people who were 2x smarter than all of Jow Forums combined.
They laughed at the idea of the day trading, even though they could usually make perfect predictions even for inter-day candles. Why? Because there's no money in it, why would you consistently risk a lot to gain peanuts?

My IQ is 138, I have autistic dedication and no job. Can I become the 1%?

Not unless you know how to write a really good bot

this

because you are purposely risking little to 1% of your wealth for each bid, it's about slowly making gains by bandwagoning positive trends

does US have jurisdiction on binance?

So what you are saying its all bots?

you don't need a bot if you can see green patterns in the market

You are wrong its all freaking bots. All the volume are bots. Its just bots trading with bots. maybe 2 or 3% of the money aren't bots.

no but for most people it is because in order to make a living doing it you have to treat it like a start up business and put in crazy hours for years possibly just to finally start seeing some money flow in. And even then after you become consistently profitable most of your real money will come from teaching new traders how to reach your level of profitability and from the services you sell them.

A bot can’t read Elon musks anime tweets and make the connection

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No but you need a nice 300k USD (after taxes) inheritance to really get started

No, you can become a millionaire easily if you start with $999k or a billion

Sure it can. Twitter is also 95% bots. It's literally bots talking to bots.

i knew it!!! FUCKING CUNTS!!!!!!!!11111111111

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yeah i wouldve made more if i sat on REQ at 600 sats instead of jumping to multiple shitcoins

theyll kashoggi you

you can day trade an ira tax free. you can even sell naked options with some brokers like tastyworks

High IQ(>250 IQ) people position trade

Day trading crypto only works if you have insider info. Same goes for margin trading.

The only way to make money significant long term gains in crypto is to treat it as an investment.

That means buying one or a few coins that have sound fundamentals and a good team at an early stage and just holding.

Look at all the topics here that pop up of people who literally make it from holding and end up pissing it all away because they decided to margin trade and/or swing trade.

Holding isn't a meme if you approach it right. Holding shitcoins beyond a pump is stupid, holding good coins however is the smartest way to make consistent, good returns.

It's not a meme, but it's not something you learn in a week,a month, and sometimes a year or two before you become consistently profitable. The meme is thinking you can become rich quickly without knowing what you're doing. It's possible for someone to make mad gains the first time they try day trading, but they usually end up losing everything and more just as fast. If you are thinking about giving it a shot, start with very tiny amounts, and increase your position sizes as you become better. Cheers!

thanks user this was my plan going into this, I have 15k and I'm going to dabble in 1% trades on suretrade just to see if I can keep positive gains