how do you cope with the 24/7 nature of the crypto markets?
Any day traders on here?
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should also add....
ive been off work since last summer and ive had some success trading, so ive not even looked for something else and even if i wasnt attempting to trade, i could still survive pretty comfortably on savings for a couple of years so id probably still end up sitting around all day. i usually trade short term movements when i see things being overbought or oversold, anything longer than a few days ive a pretty low expectation of a profit going on past results but its lead to me suffering from heavy fomo knowing short term opportunities could come up at any moment.
i cant leave the fucking screens, even setting up alerts on my phone and forcing myself to leave the house hasnt worked, i end up just refreshing and watching constantly.
how do i break this addiction? i can get plenty of trades with decent setups just on the price alerts or even just checking a few coins im watching every few hours, i dont NEED to be here all day.
ive looked up a million advice videos on gambling/drug addictions and all of them start with the same advice, that is to change your environment and get away from the people/places the urge overtakes you.
well what about somebody like me who wants to get better at trading and maybe make it a viable second income/job? ive made almost $23,000 in the past 5 months and thats even with a ton of mistakes, yet so far its come at the cost of my social life, my friends, my health somewhat and ive even found myself LIRING to people about what i do all day, which is a sure sign of an addict.
ffs
dunno man but it just dawned on me a few days ago that this as an addiction. just trading for the rush of it.
I stopped it was killing me. Throwing up constantly, hair falling out. Being away from my computer to even take a piss was stressful. Would never sleep more than 30 minutes at a time. Didn't leave my house for months to always be ready at my computer. I did really well though desu, but it wasn't worth it. I became very depressed and suicidal. All the money I was making wasnt even welcomed because It felt so pointless.
It sucks because I was actually a good trader for the ~5 months I did it for but was too much of a cuck doomer to handle it
also making more money doesn't necessarily help. my portfolio hit an ATH (in BTC) in march 2017 and i felt like i was about to have a stroke
gamblers brains have been studied, people have been tested gambling inside mri machines lol. the brain releases all the same impulses and chemicals on the anticipation of a win as it does for a win itself, with a massive crash on a loss. everytime you even just look at a price move its akin to taking a microdose of an opiate.
it shouldnt be a surprise really, all the tools and ease of access, the comfortable environments we set up for ourselves at home, the promise of a better life out of it all in some distant future version of your life. its no wonder many have become addicted, there must be a solution to it though as theres millions worldwide with investments or traders (in all fields, not just online meme numbers) who havent given up on their lives to pursue it.
>Throwing up constantly, hair falling out. Being away from my computer to even take a piss was stressful.
i see this coming for me, i took a step back this weekend and realised my bathroom was dirty as fuck for what must be the first time in my life and thats what lead me down this rabbithole, realising that ive already started to live the life on an addict.
the only thing that hasnt happened yet is me losing everything and then going into massive debts to feed the addiction, which i know could happen any time with a few changes in legislation/being hacked/making shitty trades chasing loses. a heroin addict doesnt stop being a heroin addict when they run out of heroin, same thing with gamblers, binge eaters etc, they just turn to complete self destruction to full the addiction theyve conditioned themselves into.
its a real rabbit hole. I've been thinking about doing it again but am scared of becoming addicted. I had to just cold turkey stop. I would literally just stare at 1 min candles all day every day. Couldn't even open up a youtube or something, I'd have an overwhelming urge to switch my tab back to the chart.
It's also crazy how much it dulls your rational thinking. I had under 2 grand in my bank account, no job, no car or anything worth anything, just graduated college, and was making 50k trades on random garbage coins without blinking an eye. Looking back I don't understand what the fuck I was thinking at the time.
Some people must be more inclined that way than others. I think you really need some sort of strict schedule/plan to ensure you dont over do it, and in the event you start making money, have a preset plan on how much you can actual gamble, how much to withdraw, etc, before you gamble it all away.
>this as an addiction. just trading for the rush of it.
Well, what you expect? I get better kicks out of making money than I've ever gotten out of making sex...
As an expat living in asia all grills here have bodies of an 8yo chinese boy... so no wonder making money is more attractive.
>Looking back I don't understand what the fuck I was thinking at the time.
i find myself thinking the same and im right to, its a sign that i've lost control.
before being made redundant, i was an industrial heating engineer, the amount of labour and sometimes the literal piss and shit I had to wade through (once had to install a whole air con system in a slaughterhouse) for a job paying a few grand was crazy.
yet i think nothing about dumping multiple times that on shitcoins in the hope the price starts bouncing around a few cents.
i dont want to go cold turkey but that might be the addiction talking, the lifestyle that exists in my imagination i still feel like is attainable but i probably should get out while i can still get out with my nose in front. letting go might be the only way to rebuild my life as a functioning person, on this current path ill never recover my old social life, my health will only get worse along with everything else ive let slip.
what do you do now if you dont mind me asking? what prompted you to go cold turkey? did you lose a lot of money and just ragequit?
>I've been thinking about doing it again but am scared of becoming addicted.
Be smart about it. What would you rather:
1) White hairs, premature aging, sleepless nights, bags under eyes, reevaluating charts 42 times a day, lack of quality rest, eating in a hurry and anxiety headaches for 10% leveraged trading a day or...
2) Throw all that behind your back, forget every single worry and go live life while checking you algorithmic trading setup twice a week from a smartphone anywhere in the world for 2-3% instead?
Depends on your priorities in life m8.
I value my life, that's why I took the 2nd choice last year and never looked back.
cryptohoppe shill?
>algorithmic trading setup
shill me pls
>algorithmic trading
ive looked into this as a solution but ive never pursued it, as setting up various alerts to give me no reason to hang around the computer has not worked.
i can code and learn most languages quickly, especially with the tools on hand online and at least 1 of the setups i look for in openning a trade thats proven reliably profitable can be automated without much effort (all on exchange info, nothing needs accessed outwith the environment).
i think if i had something else to do all day id be forced into algo trading, maybe its the answer. go back to work casually and let the robots take over?
>did you lose a lot of money and just ragequit
sort of unfortunately. I think I started to break down. Normally I was very disciplined with my trades, which is why I did so well when I started. The stress and sleep deprivation was getting pretty bad though, and without rambling about my life story, but my gf was pretty disgusted with me, basically calling me a loser and stuff for not having a job (I didn't tell her about my crypto at all), even though I had just graduated college and was looking. I had moved away temporarily and got a job offer in another city, but turned it down and moved back to stay with her. That was making me pretty upset/stressed in general, with the trading stress, then I caught her cheating on me.
After I caught her cheating on me, piled on with the trading, I sort of just cracked. If I started to make a bad trade, I would get really mad, act irrationally, and make another dumb trade, which would lead me to do another even dumber impulsive trade. I started losing a lot of money really fast, and I was so defeated from my gf, as well as a couple weeks later a family member got cancer and died, and the trading stress I just couldn't do it anymore and stopped. I havent opened my blockfolio in well over a year now. I dont even know what is left, and am terrified to look.
Thankfully, I cashed out 10k near the top in Dec 2017, which really helped, and I got a decent job summer 2018. Got last minute acceptance into college this past september to get a new degree in CS (last one was chem) and that's where I'm at now. Basically act like that whole period of trading didn't even happen. That would have been pretty impactful money too. I had almost 150k at peak and I'm only 23
is that even a question just check it a lot
yes you're right user, I know you are. My hope was to get to a decent amount that I could just put it into boomer stocks and not have to worry about retirement for the rest of my life. That period of trading was the worst time in my life. Perhaps I can try to do algo trading. My money was mostly made in a very basic algo I did by hand that I could replicate. I thought about it at the time, but was always worried about what would happen in a flash crash or pump, but I supposed those instances could be accounted for.
>how do you cope with the 24/7 nature of the crypto markets?
Just because the markets are 24/7 doesn't mean you have to be awake all the time. When I need a break from trading (or if the market is too ambiguous), I'll just have no position and wait until I notice a good entry.
stress outside of the addiction is probably why so many addicts of other things (drugs, gambling, anything else) withdraw from the world, it might be why ive done it.
sadly family members passing or gf problems are normal parts of life we should have reserves to deal with emotionally, as an addict you cant help but commit all of your resources to the addiction so it makes sense that youd do whatever possible to cut potential stressers out of your life.
im glad youve come through it and also glad that youve still had moments where youve considered trading again, im wondering now if i should maybe do the same, maybe getting into algo trading will feed the buzz i get from seeing markets form infront of me manually (plus i could get some money?).
ive a mechanical engineering degree and 6 years good experience, i could easily get something else around here and could earn more moving elsewhere, for now at least having only been 6 months out of work i can easily explain the time off, so hope isnt totally lost yet of a professional life at least.
that said, for me right now to get into a position where i could be working on anything meaningful again, id probably need a month detox from this computer chair just to get my sleep and health back in the right place.
Quite on the contrary... I'm a life shill.
I was fucked up pretty bad too... hair falling, always sick... but after 2017 I plugged an algorithm to some exchange and spent all 2018 traveling Brazil, Cape Verde, Portugal, Spain, France, UK, Germany, Italy and China. This coming week I got a Laos, Vietnam and Thailand escapade set up with my group.
Before I felt like dying, now it seems I was given a new life. Really... I really changed my life around.
I go outside in the post office or to grab a snack, random folks approach saying: "Hey user, you're radiant af, you been hittin the gym lately?"
I definitely recommend to put life first and trading second. I dont check my trading setup more than twice a week and that's it.
The less the better.
Heck, I even ordered a tikker watch other day...ya know, those watches that show how many years/days/hours you still got to live.
write a bot moron
i think i have to, i already know python, plus theres 6 gorillion guides online for it.
i mean what else am i doing with my time right now, im already sitting at the computer all day.
>it was just a rambling boomer the whole time
is cryptohopper any good?
That period of trading was the worst time in my life.
You said it best, m8... that means it can only get get better now.
>always worried about what would happen in a flash crash or pump, but I supposed those instances could be accounted for
Due diligence and proper backtesting... I went through the Nov 14 crypto crash last year with mild worries of anxiety too since I had no previous experience and it was the first time, but looking back at it now, the only thing I remember was the average profit per trade falling to a record low of 1.1% during that period and back to normal after it stabilized.
What is "good" to you? How do you measure "good"?You want to know if it's profitable, it's that it? How much money you can make?How it performs in a crash? What indicators you can use, yada, yada, yada?
Don't cryptohoppers/Haas/3commas/etc have a free trial... watch some reviews and case studies to make your decision. Heck, I'll plug you into mine for free for a couple of weeks if you really need a push in the right direction.
The point is to keep the trading addiction in check so that you can throw all that behind your back and focus on living your life instead...
I certainly am living mine. My life goal was to travel the whole world and I sure am doing just that.
Right now you guys are freezing your asses off in the northern hemisphere winter waiting for spring in april and I'm chilling on a tropical island on the other side of the planet comfy af.
Bottom line: i's not impossible to break the addiction.
Whoa dude just chill and dont give a fuck while you do it?
anyone else with success in dropping manual trading to beat addiction?
yeah, I'm doing the cryptohopper free trial right now, the strategy customization is super dumbed down. I'll look into those other two next. thanks for offering up your own but I don't have any knowledge on bots/APIs/coding, only TA, so I need all that retard-proofed
Whats the problem? Day trading isnt hodling
Day trading crypto is no big deal. I'm only holding while i'm at the computer. Now swing trading on the other hand... I quit that with crypto. The stress of 24/7 is too much. Fucking 3am price alerts. Never again.
I would very much like to know the trading bot you use so I can purchase a subscription myself please.
I am stunned. How can you picture so accurate what is inside my head?
>start algo trading bots to stop fomo
>have some success
>spend all day staring at it anyway
>mfw
how it feels to fantasise all this in mom's basement?
Take profit and chill
Make big enough gains when your hot to not care about missed gains when you are resting? Are you trying to autisticly capture 100% of the moves 24/7? Unless you are very strong in computers and programming with equal training in math this is as good as impossible.
>like to know the trading bot you use
I wrote my own. Deployed on binance and just stepped aside watching it from sidelines all throughout 2018 while I'm busy living life.
Here, let me pull up real quick for you the report of the March closed positions. Currently averaging 3.4% per trade without moving a finger.
2019/03/07 06:00 BRDBNB at 0.01474/0.01713 for 16.1%
2019/03/07 05:30 BTTBNB at 0.00005162/0.00005455 for 5.5%
2019/03/07 05:00 BRDBNB at 0.01448/0.01713 for 18.2%
2019/03/05 13:00 BTTBNB at 0.00005575/0.00005455 for -2.3%
2019/03/05 12:00 BRDBNB at 0.01658/0.01713 for 3.2%
2019/03/05 08:00 BTTBNB at 0.00005826/0.00005455 for -6.5%
2019/03/05 08:00 THETABNB at 0.0092/0.00946 for 2.7%
2019/03/05 06:30 BRDBNB at 0.01655/0.01713 for 3.4%
2019/03/05 05:30 THETABNB at 0.00979/0.00946 for -3.5%
2019/03/05 04:30 APPCBNB at 0.00523/0.00627 for 19.7%
2019/03/05 04:00 THETABNB at 0.00989/0.00946 for -4.5%
2019/03/04 06:00 STORJBTC at 0.00005545/0.00005638 for 1.5%
2019/03/03 19:00 RCNBTC at 0.00000509/0.00000608 for 19.3%
2019/03/02 09:00 BTTUSDT at 0.0007741/0.0008131 for 4.9%
2019/03/02 05:30 BTTUSDT at 0.0007816/0.0008131 for 3.9%
2019/03/02 04:30 BTTBNB at 0.0000686/0.00005455 for -20.6%
2019/03/01 18:30 ENJBNB at 0.00682/0.011545 for 69.1%
2019/03/01 18:30 THETABNB at 0.01284/0.00946 for -26.5%
2019/03/01 17:00 ENJBNB at 0.006785/0.011545 for 70%
Yah, I know the dragdown is shitty and taking bigger risk as it wins above target is brilliant and yada, yada, yada. One day I'll improve it if I bother enough to care.
At end of the day I care about seeing my portfolio grow and the algo has been to war and field tested through pumps, dumps and crashes for over a year and that's great for me because I can go to bed and sleep like a baby at night.
>Fucking 3am price alerts
KEK. Know it all too well m8. Never again.
Respect. That's awesome.
What language did you use, c#? Been looking to make one for stocks, any advice on what direction to go would be appreciated, books or material stuff like that. Proud of u fren
>ya know, those watches that show how many years/days/hours you still got to live
Yeah that’s a big cringe for me
Long term holder here, i probably made less than a dozen trades throughout the whole of 2018. all my other time is just spent doing research, learning to code and other business non crypto related activities. the amount of time i dedicate to crypto compared to you is tiny now and i am probably up more than most of you. i actually dont even know how to read TA i trade purely based off instinct and what i think looks good to me. those decision making skills lead me to buy bnb and rvn at some of their absolute lows and look where they are at now. I am sorry but i think you are not using your time as effectively as me
I more want crypto gains to be able to fund my personal projects without having to give up a portion of my life to grinding a job.
I have no idea about programming unfortunately, but is there any chance you throw a copy of your bot at me so I could figure out how to use it?
Delet dis
>looking to make one for stocks
Perhaps better first find a winning strategy using something quick & easy like MQL in metatrader... backtest them and pick the best.
and once you know what your end goal is, build a way to implement it using whatever tool can get the job done.
>What language did you use, c#?
Considered C# for a local computer yes, but having web access from anywhere in the world was top priority for me.
PHP/Python were easiest native ways of accomplishing just that.
Plus, the TA-Lib library (every market technical analysis indicator under the sun: RSI, MACD, Stochastic, moving average, etc) was already ported from C# to both python and php, so I chose PHP, deployed it onto an amazon VPS server and watched it do is thing 24/7.
But #1 thing is what I wrote at the beginning... you need a winning strategy.
Without that, the software/hardware is meaningless.
I reached a point where I was even experimenting with A.I. (aka reinforced learning) to trade (autonio AI powered crypto trading bot comes to mind) and was no better than trading off of the MACD.
I'd say grab some books like "new trading for a living", "wisdom of crowds", "the art of strategy", "markets, mobs & mayhem" to gain inspiration and get your head rolling and afterwards do your own testing and retesting, and once you know what works, make it happen... you could even hire someone from upwork if you don't have the know-how or are feeling lazy.
Just my 2 cents, hope it helps.
>any chance you throw a copy of your bot at me
Never thought about it.
What the heck, why not, hit me up on telegram/whatsapp/email/whatever and I'll hook you up in a few minutes.
Drop me a line at jvill631 protonmail com
1 whole month free of charge. Profits are yours to keep. Afterwards you can crunch up the numbers and make up your mind about keeping it and we can work out some sort of subscription structure or something.
You can lock up the API so it doesn't allow withdrawals and secure the whole thing so you're always in control.
Hopefully it's one less user ending up like OP starting threads trying to break the addiction.
Fucking price alerts at night yes. Sleeping in intervals. Pumping downers to get the adrenaline down after a succesfull trade to get back to sleep.
Quick way to insanity.
Half a year feels like you aged 10 years biologically.
Omg was the ultimate swing coin for me at the time. Which shitcoin got you out of your sleep biz?
Wow thanks man, I honestly didn't expect you to bother. I'm gonna go ahead and shoot you an email right now.
I just treat it like any other job.
Get up, stick the scanner on, if any trades come I take them.
what is this shit a scam in progress?
the idea is not to daytrade just buy and hodl. comfiest time of my life. of course you can fucking swingtrade for 24/7 but its stressful and you could loose your hard work in minutes if something happens (like flash dump).
i just buy the coins and let them sit. like i did when i bought BTC at 2012. if i want to gamble, then i gather some gamble trading money and daytrade a week or two. usually the big cap coins so they dont (usually) f lash dump. its so frustrating that you trade for 8 hours+ straight and all your gains are lost in few minutes because whales.
just hodl and life will be easy.
I cope by crying and dreaming about a yacht at my wagecuck job
>the idea is not to daytrade just buy and hodl
This only applies if you don't know what youre doing.
I had a daytrading stack and a holding stack, the daytrading stack did waaaaaayy better.
omg.
eth.
also for me it was 11am getting woken up, my sleep was already so shit that 3am wouldve been peak comfy time for me
probably, reads like one
>dont you want travel the world user?
>I dont work at all and now all of my generic common problems are solved!
>ive a perpetual motion machine
>you want it for free? oh ok, why not!
no, I dont want to travel the world, not at all.
>scam in progress?
More like early christmas for lucky user here.
You can ask him if I stole even a single satoshi from him...
he should be here lurking on the thread
jacked in and comfy af.
KEK, oh the irony.
You really cannot expect me to believe that you'd prefer to see this thread turning into a den of thieves slicing each other's throats over a few measly satoshis instead.
If user is happy with his luck, let him be.
>scam in progress?
More like early christmas for lucky user here.
You can ask him if I stole even a single satoshi from him...
he should be here lurking on the thread
jacked in and comfy af.
KEK, oh the irony.
You really cannot expect anyone to believe that you'd prefer to see this thread turning into a den of thieves slicing each other's throats over a few measly satoshis instead.
If user is happy with his luck, let him be.
Unironically this. I wage and algo trade. Trade to increase income and wage for the benifits and safety net. A bot can also relieve you from the 24/7 crypto trading cycle.
By forgetting the calendar and restructuring my life according to the open and closes of 4h candles
Certified day trader here.
>how do you cope with the 24/7 nature of the crypto markets?
Easy. I built a bot. All you need is some Python knowledge and the wonderful ccxt library found here: github.com
For charting, just use Matplotlib. For meme lines, TA-lib though I don't use those so ymmv.
My bot handles the bulk of my trades but I make sure it throws up a chart for everything just in case I need to manually intervene or I might want to throw and extra buy in. I like to keep charts churning as well for any coins that the bot thinks might be interesting. The strategy makes use of volume and price action mostly but there is some more secret sauce I've developed over the last couple of years.
Been going at it since 2017 and have 50x'd the account. All while sleeping 8 hours every night. The only time the bot wakes me up is when it makes a huge buy and the price starts going the wrong way too fast which doesn't often happen.
I think most people resort to stop losses and put in sells below the market value to prevent losing a lot. I bought a bunch of pundi at around 550 eth and it drops to 500 eth a few days later, thats a piss off. Then I buy more at 500 and it drops to 475. If I had just put in stop losses at 488 when it was at 491 Id have been better off than now. Its a long term hold but of course I wanted that 20% more pundi
I quit using stop losses very early on when I realized how volatile crypto is. Lost a large chunk on Antshares back in the day when it dipped just into my sell and then went right back up. While I was sleeping. Vowed to never use a stoploss in crypto again. Haven't regretted it yet.
OP here, not sure if same id.
thanks for the heads up on these, been working on it all day but this post has helped me.
I know python well enough to map everything and google searches are filling in the blanks, however I think I'm a long way away from your impressive looking screenshots with the various charts but I will try.
I am wondering now though if you are using a service like AWS for running bots or are you doing it from a home setup?
I have my old desktop wrapped up under the bed and an old laptop I could easily use but I want all of this physically out of my house to aid addiction breaking behaviour changes.
I do both. Some of my bots are on Digital Ocean VPS, others are on Linode. Depends on the exchange and what the ping is. The bots on the VPS make most of the auto buys and I make manual buys from my computer here. The same software runs everywhere so when the bot buys something, even though it's not directly linked to what I'm running at the house, I still know about the buy the instant it happens.
Hey Op,
Let me tell you the truth about most of these people on here.
They are degenerate gamblers who got in early. When everything is going up it's easy to get overly confident and most seem to forget that they were gambling from the start and now instead think of themselves as "traders".
Move forward 1 year. Some have sold, some are still holding.
The markets are not very forgiving in times like these, and the retards still think of themselves as traders. Most have resorted to accumulating air. They have realized they don't have what it takes to become a day-trader, due to the complete absence of understanding market psychology and market dynamics. They meme TA because they have finally figured out that it's just used as cannon fodders for the cm to engineer liquidity... Like it's a new phenomenon. Yet they can't figure out how to use this knowledge into their favor.
Nothing is random about the markets, every move you see on the charts have meaning behind them. And it's your job as a day trader to figure out what the market is telling you.
TA is not gonna help you solve that. But we can use TA in conjunction with MP/MD looking at the PA, to gain a cluster of conflicting factors improving your SR of set strategy pushing it above the 50-60% mark.
Day trading is not about making a profit. It all boils down to risk management in the long run if you actually plan on taking the day trading route.
If you want to succeed in doing this, you are going to need a journal. Where after a while it will be clear as day what you're doing wrong. Let the market be your mentor.
These fucking retards just rush into shit without any gameplan but instead they rely on hoping things will move in there favor. If you don't sell you don't lose is probably what most of these guys actually think.
If someone says they've been a day trader for less then a couple of years, just move on. They didn't have what it took and they lost money in the end.
You're mostly right but I made most of my money in the bear market so there are exceptions.
If someone says something in the lines of this "I made a lot of money DTing but couldn't deal with [Insert excuse here]" they are retards who never figured the market out. Just because you get lucky in the beginning and then when things start catching up with you, you take the L. Dose not mean you did good, even if you managed to escape with profits.
Yeah, most people shouldn't be day trading. The 99% losers statistic is real. This shit ain't easy.
Thanks man just woke up to this, definitely gonna get the books and get it goin much appreciated were all gonna make it