I used to trade FX and stocks a lot, but recently got into trading crypto futures. Lately I've been spread trading crypto futures which has been a lot of fun since it's far less volatile and more long/mid-term trends compared to spot.
Hey guys I'm used to using ToS for day trading stocks and I'm trying to see if there is a good platform/exchange for doing the same with crypto. Looking for low fees obviously, quick order execution, and good charts. I've looked online all over and nothing jumps out as a clear winner. Thoughts?
Hi everyone, Because of work I might not be able to trade pennystocks anymore, looking to change to a market that is open full time. I was wondering if there are still people out here that are profitably day trading cryptocurrencies. Crypto market looks quite flat so just wondering if people still make decent money there. Let me know which platform you use and your trading strategy. Thanks!
Hi reddit! I’ve recently been trying to get into day trading early at the age of 16. I have been experimenting with many types of day trading and due to the pdt rule i’ve decided to day trade crypto for now and I just had a few questions for you guys.
What broker for crypto trading would you recommend that has decently low fees and works in canada? (currently using coin base, trading view and looking to use gemini maybe)
I really like the analytical type of day trading and i’ve set up charts and other indicators on trading view. I am using a paper trading account and in one week I am up $650. I am profiting every trade however each trade is only around 0.5% profit and every once in a while I will get the odd ~0.8% profit trade. It seems like off of $1000 I can only make around 5-$10 each trade and i’ve had a few for $20 and a few for $50 profit but that was with around $2500 trades.
If I am only making on average 0.65% profit per trade is there any brokers that have fees where I could still make profit? What strategies would you guys currently recommend? I have around $8k saved up and am not working right now so I’m looking to learn the ways of day trading over the course of the next several months.
MACD on volume
My current strategy (which is probably bad but is super consistent for me) is:
Wait for the macd to go into the lower red and wait until it starts to go smaller towards the green.
Wait for stoch RSI to have the red line go up through blue towards the top
Candlestick patterns(learning some)
Watch the Bollinger Bands for them to get tight because i’ve heard that means the stock could go up.
Thank you so much for any help I truly appreciate it👍(sorry for bad formatting i’m on mobile)
Is there a difference between trading on localcryptos and day trading crypto?
Just wondering cuz day trading seems more geared towards mass trading and going off large data sets and trends, while buying and selling via local crypto feels more like flipping currency using a float rate. Can someone please confirm if there’s a difference I know it’s a dumb question but really tryna figure it out before I get into it.
Why is everything I read about day trading crypto so negative? Bitcoin seems to fluctuate 1-2% every few hours, using coinbase pro and only using limits, you get charged no fees as a market maker. I get holding CAN being more profit, but you never know when it will crash and all that profit will vanish.. day trading you keep your risk to 1%.. I just started yesterday with 170$ in bitcoin. I lost out a bit on profit when the price dropped out of panic, but it almost always spikes back up. I did the calculations, assuming there's no bull market soon, if I make 3 trades a day, at 1% profit, my investment will go to 400$ worth (I dont care for waiting for a bull run, they always end and people get suprised when they dont get out in time and lose 75%..). This investment is exponential too... the next month itd be 1k.. then 2k... then 4k... till I'm making enough to live on... So why does everyone trash day trading?
Elaine starts dating a crypto millionaire. Kramer discovers Bitcoin mining and sets out to build a bicycle powered mining rig. Jerry and George try their hand at day trading cryptos and “buying the dips” unsuccessfully. All while Bania keeps asking Jerry to invest his money for him.
Making relatively easy gains day trading crypto, am I missing something?
I have been trading for the past week on binance and I am able to increase my total investment (in BTC) by about 5% per day so far. My basic strategy has been looking at a lot of different charts and buying dips and basically selling once I reach anything above a .5% increase unless the specific trade looks more promising. I use BNB for fees so the total fees on each trade are only .1%. Granted, I'm only trading around with a little under 300 dollars worth of bitcoin, but if I was trading with much more it seems like I would be doing pretty well for myself. I have only lost 2 times out of over 40 trades in the last week, and the losses were under .5%. My question is, am I missing something here? I see all over this sub to stay away from day trading but with a little discipline I have made some pretty good returns percentage-wise, so I want to make sure that I'm not misunderstanding anything about this.
How do you guys Day Trades Cryptos that aren't Bitcoin?
It seems as if Bitcoin and, to some extent, Ethereum are the only cryptos that one can trade on a daily basis but the others (Litecoin, Dashcoin, Ripple, etc.) are not only highly-illiquid but between the swap and commissions I find them not quite viable - even for a holding strategy (due to the costs).
I've been paper trading cryptos on tradingviews for a few days, and i can consistently make 1% gains without losing on 1 minutes chart. Does anyone do day trading on binance? It seems they have pretty low fees 0.05-0.1% per trade. But they have this weird rule about only trading whole coins, meaning if I have 1.99 coins, I can only trade 1 coin and the 0.99 coin becomes dust, as they call it, which can be converted to their own crypto coin. I was wondering if such requirement had negative consequences for anyone scalping on binance.
Live Day Trade (Crypto) - Simple Support & Resistance strategy
Hey day traders, I've recently spun up a Youtube channel where I'm teaching about multiple different aspects of day trading, and how I've become a successful day trader. I started trading just over 3 years now, and through a countless number of mistakes, trying out every single indicator out there, studying hundreds of hours of TA, I've finally found my path. In my daily scalping, I use a VERY simple Support & Resistance strategy - I know it feels counter-intuitive, but I've found that the simpler I keep things, the smoother the ride is. My most recent video is an example of me taking a live trade. NOTE: While this trade is a crypto pair (BAND/BTC), I use this same strategy through all markets. https://youtu.be/qcYuRAbCn_4 Feel free to watch if you'd like! Please let me know if you enjoy it! And if you have any feedback (negative or positive), or suggestions, don't hesitate.
Should I become an LLC or S-Corp for Day Trading Crypto
I was wondering if anyone who is based out of the USA if you have become an LLC or an S-Corp to take advantage of tax breaks that come with these and also to keep your personal account separate from your BTC accounts. A lot of the CPAs that I know don't know anything about crypto or say that it's really bad and I should stay away, but I want to stick with it. These people are unknowledgeable about it, and I really think they don't understand it. So should I become an LLC to protect myself, or should I just say to these CPAs that I just want to day trade so maybe they will understand it a little better because that is what it closely emulates? Just wanted some input...
$1,000 to $1,000,000 day trading crypto 700 trades
So I lately invested in cryptos as a long term investment, but soon realized that there is massive potential for day trading as well. If someone starts trading with $1,000 and makes 1% profit per trade (which is not even that much in crypto - it happens multiple times a day on most coins, even in the current crash), all someone really needs is 700 trades due to the power of compound interest. Sounding like that makes the possibility of becoming a millionaire fairly "possible" & relatively "easy". if you do 2 trades per day (which again, is not even much), you could do this in 1 year. EDIT: I don't understand the downvotes. If anyone of you actually goes on a graph of the top 200 crypto coins you'd see that even upon crashes, they get back up 1-3% per day and then back down.. I said 2 trades per day which basically mean just wait till that 1-2% growth happen and sell.. then repeat.
Question for my Day Traders. I’m a month in into Crypto. I want to t o start day trading small amounts. Reason why is because I see the price of bitcoin and bitcoin cash go up and down a few hundreds / bitcoin sometimes a couple thousands on a daily basis. I want to put in $1000 into bitcoin cash and trade it a few times out the week and collect the profits I make from it. Then repeat the process over again. Do you think that’s wise or should I go about it another way? And what should I look out for to prevent loss? I’m Also holding a few coins a well. I just want to use that 1k to day trade and make some money off this up and down market while I have a chance
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