Topic: My experience day trading - no moon shots (Read 2082 times)

Well I hope to see you on the Discord to talk more. 30% per month is fantastic.

Some days I don't trade when nothing is looking good - that's fine with me. Helps protect against significant downsides and maximise the upsides!

Man this is great! If I can make 1% daily without loss, trust me I’ll be okay. The problem is that some days you don’t even make profit. If I can be getting the right signals making 1%+ daily, then by the end of the month I would have about 30%+ profit and that’s really okay for me. There are people who needs more than that, some people talk of 100% profit lol.

Thanks for sharing. Glad to hear your friend had success with this. Gives me good feelings going forwards.

Anyone can make money during a bull-run. I feel this strategy does me well during this crazy volatile bear market. For example today, no charts looked good so I was sat in BTC. BTC dumped so I would have had a huge loss if sat in alts without a stop-loss. Instead I've still got all my BTC. Happy times!

Richest crypto friend I have, is this type of trader. He doesn't look for x100 coins he looks for 5% profits. When he buys a coin he puts a sell order right away for 5% profits and just leave it be. If the price drops he purchases some more, he always puts some coins aside just in case and when the price drops he uses that left over capital and even lefts some more. This way the coin drop 50% if it needs to be and he still buys more and whenever it makes him 5% profit he sells it. That way he made his coins from 0.9 bitcoin to like 30 bitcoin now because he was patient and he always got out quick and never hold a bag too long.

It is still possible to make profits in this volatile market even it is slowly moving down side. For example, look at dogecoins. It is time to trade select coin rather than sticking with what we had traded last year. Choose your pairs wisely and you may find yourself successful when you apply new strategies.

Off course day trading is the worst way to go and enjoy any moon shots because there wont be any from them. On the boundary line, day trading is very risky itself and you are like expecting huge profits or returns from your trading in single day to few hours! How can anyone be making any profit from such type of trade if the crypto currencies are either being too volatile on negative side or they may not be moving in the positive direction at all. Moon shot would be something near to 100% profits and I believe such big returns may not be accomplished in few hours to single day time which is considered to be the time period for day trading.

What i like about it is that I believe it is low risk. You could aim for 2% per trade if you were so inclined but I think you’d be in the market longer during each trade and more susceptible to dumps. But the strategy I’ve used is just grinding out small but consistent profits.

Over the weekend the depth charts  didn’t look that good, volumes down. So I stayed away. 0% this weekend but I’m not fussed. Ready to go again once the volatility picks up!

Correct - I assess it as % return on my BTC stack net of fees. So realistically 1.15% on binance as I use BNB to pay for fees. Withdrawal fees I’ve not factored in but I don’t plan for withdrawing for a while yet. Still growing.

Absolutely. The more information we have the better. Signals and TA do work for some people but I think on average there is a lot of luck involved. Trading on volatility I think you can swing luck in your favour. And tight stop losses control any downside.

That’s what I thought about long and hard. I tried summit hunting as you put it (moon shots is what I call them) and got burned most of the time. And then was being told I needed to pay for the proper signals. That sounded like garbage and akin to pump and dumps.

I’m so glad I found the team and education I mentioned in the OP. Has proved vet valuable.

Indeed a very interesting day trading strategy and should be easy to achieve. It is not an unrealistic thing to make as far as I am concerned, and I am sure it is a strategy that would always pan out as long as you mentioned about keeping your stop loss active, while still making use of the indicators to make you decisions. It is really a very good tip and a good thing to be sharing experience, so I will say kudos to the OP.

In fact, sitting within btc is really some good call to make. A lot of traders really will not want to do that considering that they also trade the bitcoin fluctuations as well, but at least, setting your priorities right and the priority you have set in remaining in bitcoin is honestly a very solid one and I 100% dig you on that. Also, with your very tight stop loss, it is a very solid way to go about trading bitcoin-altcoin pairs due to their high level of volatility. ADA by the way seems to be a good option to as well.

Distinctin and janggernaut Both of you are right, I think hard work can get this advantage, but now I know the luck factor that can get this,
I hope you are both lucky.

Is this net 1% as we have to take in consideration the trading and withdrawal fees as well.
Agree on the logic behind that small is sometimes bigger but  even 1% is not achievable every day on this kind of market we have nowadays.

You are surely right earring small but continue will give you good profit, day trading has a lot profit but most of time those earns who have patience of facing any kind of situation, rise and fall use to come but those who understand the situation will get bigger profit, so before getting to trading for day one should know about all features of trading for day, it will improve our earning and our skills for trading next time.

Although long-term investment is a logical and profitable investment, it is not preferred by many investors. The main reason for not being preferred in this sector is the fact that investors are impatient and act with faulty thinking. Long-term investments are extremely lucrative, but many investors often do not benefit because they perceive long-term investment as peak point hunting. The experience and recommendations you specify are the content that many investors need to read, which will be especially useful for new investors. Again, it is not a long-term investment to make summit hunting. It can be very comfortably stated that investors who have solved this situation have already earned a permanent profit.

Hope to see you on Discord when you make it to trading. Good luck!

Completely agree with your points here - thanks for your input

Precisely - thank you

That's an interesting take on it. I'm by no means trading with a large stack so I wonder how it will change as I trade up. Thanks for your input.

Thank you - my thoughts exactly! If you want to see how it is done come and say hello in the Discord. See for yourself.

Correct - you do lose sometimes and that is what the stop-loss is for. 1% per day is the aim for me and I'm doing that way more often than not. A 0% day is fine as well - just sitting in BTC when the charts all look bad.

If I lose on a trade I would wait for the orderbook charts to become favourable again and re-enter. If no charts look good that day then I stay in BTC. A 0% day is better than a negative!

Coins change by the hour as to what meets the criteria.

1% profit is enough for me, If I will try to trade. However, I want to start my journey in trading when I knew already the combination using the technical indicators. As of now, I am searching for good strategy for trading and investment. If I gather 1000 dollars capital, I will start trading

That may be your choice, but certain people prefer to always take the better risk with great opportunity than just sitting in a position for too long. It may work out well for someone without trading knowledge, but it does not mean it is the best thing to do in terms of making profit. What you are doing trading is to take advantage of the fluctuations. Now, it does not necessarily have to be day trade, as there are better means to achieve that.

This is how the emotion failure while trading may trap you out. Day trading is known for scalping like many small profit making whereas if we understand this then we may avoid unnecessary disappointments very easily.

An interesting strategy, the main thing is to follow it clearly, just not everyone is able to restrain their excitement and want more profit,and this will have a negative impact on the result

Based on my experience it can indeed be easy to crypto with volatility to get 1% at daily trading, but the risk is also quite large, it will be very difficult if you have to produce consistent profits on the daily trade. I also once thought like that was enough to produce 1% a day but after I lived this was a very difficult goal, especially with large funds.

a very good daily strategy, indeed if we are going to trade daily it must be like that, take a little profit but continuously and the key is patience.

Gain at least 1% profit everyday is indeed sound like impossible thing, but it doesn't mean someone can't do it. Of course the chance is very very low and almost impossible.

Regardless of the amount you start, it's still impossible to get at least 1% profit daily.
It's like a ponzi if you claim yourself to be able to make that consistently, what I know in trading is that you have bad and good timing, therefore
you also loss sometimes.

You have a point but trading everyday and gaining 1% is always defeated by hodlers that do the research and sit wait for moon. This thread is worth the follow to see how your trades could go, maybe you got to add some funds for low cap coins so you could hodl and let the money work for you, anyways it's just my opinion.

When it comes to trading, you should always stick to your plan and be consistent with it so that you will know if it is effective or not. It will also make you control your emotion since you know what to do in whatever circumstance it may be. As for OP's strategy of aiming for 1% a day, it is not that hard given the volatility of prices. The issue here is whether you can maintain to have this profits because you may gain 1% but on that day, you can also lose a lot. Well, as long ass you have a cut loss strategy as well then it would be good.

Experience is also a must when you decide to do day trading because it is not for those who are faint-hearted who would immediately back down when they see a big red candle. It requires courage knowing that anytime the trade may not go in your favor.

trading daily with a 1% profit per day can be said to be easy or difficult, is your strategy getting 1% per day in 1 coin or you are planting a lot of coins to get 1% per day.

Amen!

That is right, it is so important too to lists all of our mistakes and learn from it, sometimes we should create our own strategy too, I have experience in trading but not too much that you can call me an expert, trading is an everyday learning and patience should always in our mind and heart, make it a passion and not just because you want too or just a past time.

This is what took me the time to learn - stick to your plan. Do not deviate. I have won way more times than lost sticking to the plan. Deviation causes me to lose more often than not. A deviation is a gamble. Do not deviate.

Thanks for your comments.

I do this for fun right now and it is working so far. I do like to play safe - very much so. Appreciate your comments here.

That's a good tip - thank you

You don't need to predict the market - just gain an understanding of where it will ebb and flow in a short period of time. Seriously - take a look at the charts here and you'll understand: https://discord.gg/BN9P2tk

It's just probabilities - as long as you're working with something that tells you when something is more likely than not. It'll make you money in the long-term.

The whole bankroll goes in each trade. (Just of my trading funds - I have a separate HODL stack).

How would you recommend I improve?

It is not really about the greed; it is about having a plan and letting your plan work out. Sure, we cannot deny the fact that some people can be extremely greedy as all they care about is trying to look at the moon when there is no likelihood of it, however, the only way you can know if you should be out of the market with profit you have made is if you are sure that goes according to your plan.

For instance, if I believe a market still have potentials to raise more than it already is why I would want to sell quickly. Don't get me wrong, there are certain stages during FOMO that is advisable to sell, but all has to be with your own strategy and if 1% is someone else's strategy per trade, since he is a day trader anyway, then that does not mean someone else may not have a better strategy to drive in more potential for profit.

Just like what I've always said, 1% target and profits per day is better than aiming for 50% a day, you might end up in a trap holding a coin that was dumped by whales. Aside from aiming for just 1% a day, also spread your capital. Don't just put all that funds in just 1 coin, 3 or more is better so if 1 fails to hit at least 1%, you still have other coins to rely on and recover your losses.

Control greedy in ourself is good. That is what many people must learn before they do trading. If you can consistent about 1% perday and keep play safe, you will be very rich in future i believe.

The market is up and down everytime. Can you predict the market? I don't think so. Can you show me how you do that? I see many daily traders die. So i do not join daily trading campain.

The calculations made do not make sense as OP will definitely not treads with his/her full bankroll each trade. It would be cool to do so.
The, as per calculations, and considering only trading max 5% of the roll, profits are much lower than reported.
Good luck anyway.

it really does add up in the long run, but maintaining 1% daily profit is not as easy as said
and having stop losses is great but I think 1% is too tight in crypto trading
so your trade range is somewhat very narrow with 2% between stop loss and sell on profit
won't you be getting losses more often than making profit, and ended up in loss position

For those who might want to see what this is about - come and have a look today, it’s Firepit Friday!

All members get free access to the paid tier for 8 hours with multiple charts over multiple coins. Plus the community will be alive with live trading examples and calls. Come and say hello!!

https://discord.gg/BN9P2tk

Thank you my friend. I’m in the game for long-term, gradual, returns. This works for me. Hope to see you in the Discord.

I think daily trading is good. But many people expect too much. They are looking for instant profit. They want to earn 10-20 percent daily. But these facts and wishes are not real. If you are not looking for losing much money, your strategies are fine and safe. Less profit, but safer. Your strategies are good.

Appreciate your comments. Would be great to chat with you on discord. Hit me up there. Hope your Friday is going great.

I think your strategies are very good. Because you do not get much profit, you only gain 1% per day and many people want to earn 10% daily or 20%, and for this, they face many losses and you use a very safe method. I like and respect your strategy.

1% per day for me is something I'm happy with. I have a day job so cannot devote all day to making more. On weekends I can do multiple trades and make a few % per day.

Stop losses are very important. I learned this the hard way in the beginning!

I think you would benefit from joining the discord group. Especially today as later on there will be charts galore (see my separate post on Firepit Friday) - it'll help you see what it is all about. My username is the same as on here so come and say hello. Happy to talk you through.

https://discord.gg/BN9P2tk

I think that 1% per day is really great for people with low capital.  It's safe and easy way to enter the market and begin trading, especially if you don't know much about it.  You want to learn conservatively and avoid blowing up a small account. 
What would your per day % goal be, just curious?

Have tried this sometime and it worked for a while and little mistake wiped out the profit, however I never used stop losses and have learnt to apply it, Kudos to you on your voyage, please would like to see your updates on progress made. 1% a day however is very low, will be meaningful to someone with loads of fund as capital

That's fair enough - whatever works for the individual. Good luck my friend!

There is no need to risk dealing with the day trading. Choose the holding strategy, and at last, you will make good money. So my choice is holding!

That's exactly it. Manage greed and you'll do well. Who wouldn't want 30% per month? I know I do and am enjoying it.

Would be great to chat further about how you do your thing along with the other community members. Say hello in #the-swamp https://discord.gg/BN9P2tk

Tomorrow is a great day to have a look around. There will be charts galore as it is Firepit Friday!

I think all the channels unlock once you've click the emoji at the bottom of #terms-or-service

Public chat channel is #the-swamp - let's catch-up tomorrow

just joined the group..can't find the public chat channel so ill just try to browse again tomorrow..thanks again for the  invite and hope to learn a lot from this channel.need to go now and hope you hit your target tp again tomorrow.wish you all the best and goodluck..

Now thats the best strategy behind it. I think going for the big % profits is always worst because that is nothing but the greediness. If you have now overcome with that strategy then it is always best as you wont be loosing money over your greed. This should be lesson to everyone who is willing to do the day trade. Its risky and also sometimes it is not even possible to single % of profit in day trade. So expecting too much high returns is not the best way to go around it. I like that you gonna take up around 1% profits daily because that is also 30% ++ profit over month and sufficient enough. 

Can't wait to see you on the Discord (https://discord.gg/BN9P2tk). My username is the same as here so hit me up when you come around.

I did take my 1% this morning (1.1% actually after fees). I might look at doing another trade but if I'm not seeing anything I like I'm happy!

It's good to hear that the strategy is working fine for you.looking for different strategies is one of the things that we need to be succesful in the trading world.I've been joining different channels like the one in the link,trying to seek knowledge and ideas that other traders do.I'll check it out ony my free time.
it really helps a lot being open to suggestions and ideas from many different traders,this is a good way to gain knowledge and enhance your skills in your future trades.

by the way,i hope you didn't take your 1% tp today.this is the situation i was talking about when greediness sometimes pays off.

This guy gets it. If you've not checked out Voodoo yet then it would be great for you to stop by and say hello.

Believe me - it took a while to get control. January to June I was looking for moonshots and wanting huge gains. I think I just about ended up with the same amount of BTC after lots of ups and downs.

But since then and discovering the team at Voodoo I've got a system I stick to, don't get greedy and it works for me. It's an exciting time. Come and check us out for the full set of charts this Friday - see what's happening. Link in the above post.

You bring up a good point but I want to be clear that I measure my profit in BTC. My aim is to make more BTC - I don't care about fiat value. So, by only being in the market for short periods of time and sitting in BTC otherwise, I can minimise the losses that come from big volatilities (#BART).

I do not wish to predict the market - just take a view where it is headed over the next 15/20 mins and trade on that - keep SL tight just in case I get unlucky with timings.

This Friday there the paid tier is free for all so you'll see multiple charts per hour for 24hrs. (Fire Pit Friday ) - so if you want to see what this is about come and hang around on Friday: https://discord.gg/BN9P2tk

This is exactly right. I don't profess to be an amazing trader - just got great support from the team.

This system is working for me so I wanted to let people know.

I hear what you say but 1% compounded every day soon does add up. I started with a lot less than I have now. It isn't a glamorous way of doing things but I enjoy it - keeps the blood pressure down

This is very similar to the way I trade..

I daytrade and rely almost completely off of the orderbooks. Longterm trends don't matter, just volume and volatility..

Just buy right infront of big walls and sell right infront of big walls..

If you buy right infront of a big wall, and they are tearing down that wall like you didn't expect, try to be one of the last guys to sell into it, taking a small loss but living to trade on..
Same with the sell side..

I figured out how to do this on darkcoin before its first ever pump..

I'm seeing a very minimal risk on what he is doing,if you think SL/TP set to 1% is risky then it's better not do any trades at all..i don't beleive consistency in trading so lose and lose or win and win won't happen all the time..

your doing a good job controlling your greed,1% compounding daily could make you 300% profits in 4 to 6 months.but sometimes, try to take advantage of the market situation ,being greedy sometimes works.BTC was down from $6,400 to $6,160 the other day many alts crashed 15-20% and i think this is a good time to make an easy 5-7%.be greedy sometimes but not too much.

Your target is risky. The market is up and down everyday. No one can predict it. If the market's down many days, you'll lose and lose. Try to find another way. There are many way to be successful.

indeed, for novice players, they should not be carried away by emotion to get big profits, I like safe trading even though the smallest business profits can continue, because cryptocurrency prices are currently unpredictable, to get a high price increase for now is still difficult, so it is true that we only sell from day to day always monitoring prices so that we avoid many losses.

It's easier to predict a moon shot with social signals than TA.

Making 1% is great for people who have tons of funds. It's not so great for people with less capital.

I would say that you have had a good and nice experience you had with day trading but it is best not to trade in a constant bear market as you can lose your money day trading in this season

Exactly - and if I don't trade on a particular day I don't stress about it.

Today's TRX trade went well. 275 to 280 sats. 1.67% after fees. Happy man!

You should come and say hello - would be great to talk you through.

I should have been clear - the 1% is after fees (that is my aim). So 1.3% is really the goal on Binance to allow for the buy and sell.

In a bear market it takes a lot to moon.

But yeah 1% a day when compounded is huge.

Patience and perseverance is the key.

the greatest decision, not to let other people trade for you and take decisions on your side only.
1% a day is good profit though many of us came here to make 1% per minute, right?
that's really pity thing

I'll give you Compound interest example:
Let's say you start with 1000$
You're making 2% daily
you reinvest 70% and withdraw 30%
for a course of 365 days

Now visit http://compoundaily.com/ and enter those numbers and see the results:
Summary:
    You started with an investment of: $1,000.00 on Tue, Sep 4, 2018
    Your principal amount grew to: $159,904.22 by Wed, Sep 4, 2019
    Your total cash withdrawals were: $68,102.01 over the course of 365 days
    Your total NET profit for the 365-day period was $227,006.23 (22,700.62%)

In my opinion there are many people who are currently thinking if Bitcoin will ever reach near 10k. The future asbit looks at the moment seems bleak and this may just be a passing trend

oh, you are an altcoin day trader? 1% profit for me is just small profit, considering the fees for every transactions. Anyhow, nice learning about depth chart. I have seen you have a great result on your trading. I may follow your step but I guess I am still suffering from restraining myself and self-confidence.

1% per day is a fairly high figure for those with large investments
Despite the volatility of the market I am not this number can stabilize or not profit by risk

I only wish my bank would give me 1% per day interest rather than per year!

Does anyone else follow a similar/different strategy they would like to talk about?

Learning to cut my bleeders was the hardest lesson I had.. Day trading has been way more profitable for me now that I'm focusing on small, incremental gains. Compound interest is the most powerful force in the universe!

Cheers man. At the moment I just trade with my stack at the end of each day. I know others who will take out / set aside 30% of any previous day's gains and only trade with the additional 70%. That way they still grow their stack but also get a flow of new BTC to do with as they please.

Do come and say hello.

You've got great stuffs going on here. I like the idea and it looks really good. Instead of focusing on big profits and getting rekt, take a lil bit of risk and make 1% daily? Sounds like a good plan. I'll be keeping an eye on this thread to see your progress. I might join in along the way. Keep it up man. Kudos.

The team have setup a leaderboard read-only API so people can see the raw numbers for the individuals that choose to allow it. Which I see as better testimonies than something verbal. It has only just got going though so not much data yet - I hope to report good things in the future.

To avoid shocks I have a tight stop loss (c. 1%). So if it "Barts" then I max am only 1 trade out. Then I just need 2 to fix my day. Some days I walk away with -1% or 0. It happens. But overall have been doing it a couple of weeks and am up 10%.

FYI - all returns I measure in BTC. I would guess 95% of the day I'm sat in BTC so am protected against alts crashing vs BTC. I may miss out of mega gains but am happy to do that to avoid the losses.

I'd be very happy to give you the tour if you want to stop by and say hello. Talk to the team behind the leaderboard bot and 24/7 analysis.

Appreciate your response. At the moment I'm really happy with just trading flexibily when it suits me. Sitting in BTC most of the time to protect against dumps (I measure my gains in BTC rather than fiat). Means less stress!

This strategy is interesting. But would you have a few more numbers to prove its effectiveness? The problem is that the price in certain moments shoots and all the profit obtained in a week can go away in a single day.

But in bot management this is the logic and this provides liquidity to the market.

1% daily is a good way to earn but with the help of other people or other people doing the trade, I would prefer not to do it. It's better to trade based on what I personally observed in the market than letting other people trade for me. Also it is a helpful tips you you shared in the community.

Hi

I wanted to write a small piece about my experience day-trading since I switched my focus from moon shots and started listening to the folks at Voodoo Crypto: https://discord.gg/BN9P2tk

Moon shots are great - who doesn't love making 10, 20, 50%+ on a single trade. But over time this just isn't going to work unless you have the best TA or insider info.

Instead, I've more recently been learning about day trading based on depth chart analysis. Picking coins with huge order books (+100 BTC buy/sell) and huge volume (+1,000 BTC in 24hrs) to avoid the manipulation from whales - getting the charts assessed by the team and trading off the fluctuations.

My aim is to make 1% in a day - that's super easy, especially with indicators suggesting which way the price will ebb and flow. An example chart is in the image below (it's ADA so don't hurt me if it isn't your favourite but it is the first one I grabbed, coins vary depending on what satisfies the criteria):

https://media.discordapp.net/attachments/457359982346633227/488851698664734721/unknown.png

I would put an order in for the easy buy range and sell when it hits yellow. Keep stop losses tight (1%) to avoid getting burned.

I now aim for 1% in a day and once I achieve that I'm done - come back tomorrow and do it all again. Compounded it adds up quickly, hopefully this time next year I'll have made a good decision.

Come and see the free charts in the discord above and say hello. Any suggestions/improvements on this strategy always welcome.