I'm decently high IQ (engineer with a lot of math/probability knowledge) and can spend a lot of time outside of work reading and trading demo accounts to learn. I can throw a few thousand in as starting capital without feeling financial pressure or anything, I could even blow up and refund my account again many times.
Someone has to be making a lot of money on crypto, stock options, leveraged forex, etc, right? Why can't it be me?
Don't listen to the cult bagholders, you are correct.
Anyways you can make money trading but there's reverse selection bias at play: anyone who knows something about building quant models isn't going to say anything and people who don't know anything are going to say stuff.
>engineer >good at math
That was a big kek. You either have phd level knowledge to create trading algos based on math that are creative, or you have very sharp eye for patterns, the kind of person that can almost do portraits blindfolded, to have a high chance of making it.
You can probably make money if you study hard for years ofc as a lot of people do it, but it isn't free money. It's on the same scale of rarity of things like starting your own business
The only thing you need to know is when altseason starts be stupid with buying and be smart when to sell. That's it. Good luck and make some money.
The reality is its a manipulated and botted market. You can outcompete bots constantly shifting positions and whales/exchanges pumping and dumping.
Learn TA in order to know macro moves, for exits and entrances. Day trading though? Just throw your money out the window.
I'm not saying I can be a quant but trading companies look for STEM majors who can do mental math even for manual discretionary trading IIRC, so they must know people with such a background do better than poli sci frat boys
Those companies would make you a code monkey (nothing wrong with that, money can probably be good) or would hire someone smarter
Well yeah, the "frat boys" have been getting pushed out of Wall Street for years because increased computerization and increasingly complex models
Study a lot of statistics and probability if you want to make it.
That's fine I'm not looking for a job I'm just tryna be America's top retail trader
Don't listen to the bitter anons here. The place is full of people who didn't get to uni looking to play superior. Yes banks and trading companies love engineers, because of the work ethic and mathematical skills. You also likely did some coding during your course.
However the point still stands that you likely won't out compete bots.
Just cash out and go home boss. You are never gonna make it.
Do you think bots are relevant if you're in positions for several minutes/hours/possibly days? Don't they try to get as close to pure arbitrage as possible? So in a way you're not competing with those kinds of bots because a human can't do those split second trades anyway and they're just picking up pennies basically.
Ofc there are probably some other bots that trade price action and indicators on crypto on longer timeframes like humans but who's to say they're any good? If you're just buying every time RSI is low is that gonna make money? I doubt it
If you swing trade on a macro scale you'll be fine. But day trading is bot territory and margin trading at high multipliers is bot and manipulator territory.
Don't do leveraged trading. I was in the same mindset as you and ended up losing 15k bucks. holding shitcoins is the best bet
Only trade pairs you are willing to hold. Always sell when in profit, and take you losses early before you lose even more. When in too much doubt, just don't participate.
you don't realize how manipulated this market is, I believed in TA for years but now it's almost useless your background is completely useless for trading too no matter how smart you think you are. you might get lucky but remember that 90% of trader lose money
If you're not studying ICT then you're wasting your time.
What kind of TA? The only thing I ever care to look at is tops/bottoms and RSI. The more complex it is, the less I believe in it. I'm not trading right now but I'm right more often than I'm wrong directionally speaking when I check out the chart. Like I'll screenshot $12,000 on my phone and think yeah this bitch is going down. Lo and behold, it goes down. Ofc this is gonna be impossible to do on a daily basis, we don't often hit numbers that are psychologically significant like that
90% of traders losing money isn't that bad odds. With time, it's not that hard to get into the top 5-10% of anything. If traders are blowing their accounts with mismanaged leverage this can be fixed.
OP just try it for yourself with small amounts of money and see how you go.
any TA,how do you predict pic related ? answer: you can't RSI is super basic so everybody trade accordingly that's why it generally doesn't work
I have made more money just by buying random shit on Binance and waiting. I literally just went down the list and bought $500-1000 worth of almost everything.
I am panicking a little bit though because I am an American and will be kicked off Binance in less than 2 months. It's going to take so fucking long to move this shit.
Looks bullish zoomed out like that but I look at shorter term charts
Why's it better than bitmex?
Those were highly predictable pennants.
it doesn't look like anything it's just manipulation BS bitmex is shit because it crash during high volatility event so you can't close or open position, that liquidate a lot of traders also bybit has a very good support in case of problem
This is absolutely the correct attitude. Very first step is not getting married to whatever you are trading. Too many people just believe in a few cons and stick with bagholding.
Have you seen quickfingersluc's videos? He has a trading method that is very effective for longer time periods (base-breaking method) and for small accounts (account-builder method).
He was so confident in his 11 year experience in trading penny stocks, he only put in $300 into crypto, which he grew to $50000 in a year, and NOT during a bull run.
But whenever you ask him about his daytrading strategy, when he posts in discord or slack about his daytrades (i.e. 5-10 trades a day earning like $200-300 each), he doesn't want to talk about it. And the other 2 strategies he talks about in his videos are for slow swing trades (think days or months).
Anyway, if you haven't seen his videos, I recommend checking them out. I'll also be keeping an eye on this thread in case any actual gems are dropped here (other than linkers just shilling "buy link and hodl")
These threads don't get action because biz is a shill board for shilling shitcoins to trailer park huwhite people desperate to play the shitcoin lottery. I wish it weren't so but it is. People who make money rarely share anything because in trading it's zero sum. If you want a non-zero sum game you have to create value in the physical world and we all know that Jow Forums is allergic to that.
It's a dumb and inherently risky game to trade, and with crypto there is ultimately not much more profit to be made than just holding In crypto, although I can't speak for other less volatile markets, the price is manipulate such that months of trading work can get you still BTFO and priced out by a single whale's fat green dildo Even in the stock market it has been found that literally about 90% of people and hedge fund managers underperform the market year over year, and those that outperform it cannot often do so reproducibly the next year, aka it was luck