Do people make money in crypto?
I've been trading bitcoin for 2 hours with 500 bucks and my first trade made 40 cents, and now I'm 1.40 in the negative waiting for my limit sell to go through.
What does a typical night of earnings look like to you guys who have been doing this for a little while?
>this bait
if there is a single reply beyond this point you're a faggot
I'm a faggot too
What a fucking faggot
they don’t.
Contrary to what the autists on this board say most people don't turn a profit.
Also with 500 bucks you are better off going for a moonshot and buying after a dump.
dont fucking daytrade, it's a horrible meme and you will lose your money and time unless you are exceptionally good at it
no one here (>95%) is making money doing multiple trades a day
Not bait my guy
I just figure playing swings on btc or some of the bigger coins would be safer than riding some biz meme
Surely somebody is though...right? Just like the stock market?
Guys come on. My buy in price was 8075 and now it's at 7940.
>Do people make money in crypto?
Most people lose money in crypto.
X100 leverage on bitmex make sure to go ALL in
>Surely somebody is though...right? Just like the stock market?
Yeah and just like somebody is winning at roulette.
I'm a faggot
dude calm down lol
>dont fucking daytrade, it's a horrible meme
how else do you retire as a millionaire at 25?
>inb4 you don't
then don't have kids either
>Most people lose money in crypto.
I'm no expert but I'm pretty sure there are the same number of winners and losers.
Assume 1-10 is a period of time. 10 years, maybe. Group A buys in 1-5. Group B buys in 6-10. Group A are far more likely to be winners because they have a lot more time to sell at a profit, considering they bought in earlier.
Jow Forums likes to think they're Group A but they buy the most worthless shit and get dumped on by the team themselves.
>Group B buys in 6-10
that's most people (or normies). that's your family and friends. you're surrounded with losers, you're listening to their advice and work with them.
every time i make 10k profits i imagine 100 people losing 100 bucks or maybe 50 people losing 200. i think for big profits to be made that easily in this market there need to be a lot of retards making small losses. from my experience all the money probably comes from either american teenagers that gamble away their 1-2k and have no idea what they're doing or the millions of 3rd world low iQ shitskins that put their life savings into crypto out of desparity
>same number of winners and losers
come on man, basic maths. people that make money in crypto make so much more than people that lose money lose on average. i'm not even talkinjg about big players or whales, just the smaller fishes with 200k-500k in crypto. if everyone enters the market with say 2k-5k, most people get burned and lose it all for a small amount of people to end up with 200k-500k
Consider tax laws &fees. Daytrading bitcoin is a meme because regulations eat up any chance to make a profit. That counts double when you only got 500 bucks. Even stock trading entry is regularly said to be 10k to be able to turn a profit because the fees are static and you can't make a profit when the fees are higher than your margin.
>every time i make 10k profits i imagine 100 people losing 100 bucks or maybe 50 people losing 200
Imagining how many thousands of people donated me their money makes me feel warm and fuzzy inside.
>Daytrading bitcoin is a meme because regulations eat up any chance to make a profit
What regulations are you talking about?
But I use robinhood and I have no fees. Are the taxes really that bad?
>how else do you retire as a millionaire at 25?
You buy and hold Bitcoin and sell the top
>Are the taxes really that bad
If you're paying capital gains tax it's exactly the same, but just have to calculate your profit/loss on a per trade basis.
If your country makes you pay income tax on it, that will probably be higher.
you are really retarded, on bitcoin you have to predict the price and buy cheap if you trade every single day you will lose all your money
I made like $500 last night
git gud sonny boi
I dont know who told you that it is okay to be mean, but it's not.
This unironically.
If you lose it all kys and respawn to try again.
this is fundamentally the only way to be profitable in crypto
>daytrading cryptos
Ransomware and general piracy (both digital and IRL piracy yaaaaargh)
I bought 5 ETH at the weekend and made 34% by today so I sold. Will buy 6 ETH when price comes down at weekend.
>tfw europoor
>tfw no capital gains tax
I have a 10k stack and unironically am average 2% gains per day the past 4 months, even on "bear" days...
You are suposed to leverage it up you dumb newfag
dude you bought after it barted up and sold after it barted down.
you're supposed to buy when it barts down and then wait until it barts up to sell.
unless you're rolling from shitcoin to shitcoin, in which case you sell a moon and buy for cheap sats.
ha what a fag.
most people who have made money in crypto have been here for years.Definitely not daytrading, but just holding what they bought for cheaper. Most top 100 coins have shot over 1000x in the last 3 years. That's how they've made money. Remember that 95% of daytraders aren't profitable
>how else do you retire as a millionaire at 25?
If you are 25 alredy, you need tonrule out that options. Otherwise, your best bet is buying a small cap coin and holding for a couple of year hoping for it go parabolic, which most likely won't happen. Trading with $500 won't take anywhere btw
Not by daytrading with $500 kek. It’s funny how variance works. Most of you guys know you would have no chance at ever beating a chess grandmaster at chess unless you dedicated most of your lives to chess (and even then your probably wouldn’t make it). Yet you think you can outsmart the markets by day trading without any professional experience in finance. Becoming a highly successful day trader is significantly harder than becoming a chess grandmaster, but variance makes you brainlets think you have a shot.
No retail trader or prop firm is winning at day trading consistently AND over a long period of time on U.S. Equities. People go on streaks, they get lucky, but no one is doing it long term on U.S. Equities. Other markets that don't have the same issues as U.S. ones/aren't hilariously rigged against retail do have some people doing it though. Since the Global Financial Crisis, shit has gone completely into the twilight zone in the U.S. on the markets.
Anyone you see making the claim that they're a long term profitable intraday trader on U.S. Equities is bullshitting you and you should ask them for a track record just to watch them squirm. Commissions, taxes, fees (brokerage, prop, or otherwise), etc. all absolutely demolish your profits and in many cases extend your losses. When you factor in the expenses of just being alive, that's even more money flowing out of your trading account. To make a living day trading U.S. Equities over the long term literally requires you to do the impossible.
Doesn't matter how disciplined you are. Doesn't matter what "edge" you think you have (you don't have one by the way). Anyone who comes to me and asks if they can make money day trading stocks in the U.S. I tell them they can if they can find a time machine to go back to pre-GCF and ideally pre-dotcom crash. You're literally better off trying to be a professional Poker player. There's less (or at worst almost identical) corruption and rigging going on in casinos these days vs. U.S. markets and at least with Poker there's no misconceptions about it largely being gambling which might help manage your expectations.