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12310511 No.12310511 [Reply] [Original]

How big amount of money i need to be daytrading with at binance to easily make atleast 100$ a day?

>> No.12310521

If you can't do that math then you have no business attempting to "day trade" on binance.

>> No.12310535
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12310535

At 1% of 10000 is 100

>> No.12310543

>>12310511
You can try with $10,000, but this year, you're probably just going to lose a chunk of it.

>> No.12310556

>>12310511
5k-10k

But its scalping and you have to be god at trading.

>> No.12310561

>>12310535
Not that easy to do 1% a day but .5% a day is feasible, so I think $20k is a good number. Good luck to OP not losing it all at some point.

>> No.12310579

>>12310511
Also remember, thats its easier to make 1 decent trade and lose 3-5 small ones, then hope to win on every trade. So huge amounts of money, right entries, tight stop looses and let your profitable trades fly.

>> No.12310631

10k. You can do 0.5% per day. It is not that hard. But you will eventually face some whale that dump the price and get fucked

>> No.12310640

>>12310631
>What is a stop loss

>> No.12310651

>>12310640
Op cant do some basic math, doubt he can know how stop loss work

>> No.12311282

>>12310535
>>12310543
>>12310556
>>12310561
Fuck you pajeets theres no fucking way i need that much for only 100 dollar profit you know nothing

>> No.12311404

>>12311282
Cool story. Post your trade history then faggot. Real traders are more than happy with 0.5 to 1% per day. So prove you have the magical strategy that beats that. Go on, do it.

>> No.12311418

the problem with daytrading is you spend a lot of time doing it while never being able to break out of that cycle, because your trading habits will generally prevent you from getting large wins while you make a few hundred dollars here or there trying to scalp shitcoins with zero fundamentals.

>> No.12311428

>>12311282
lmfao. stay poor ranjeet.

>> No.12311521

>>12310521
This post might seem a bit mean but honestly it's true, OP
You're better off hodling and flipping high-potential cryptos after every 5x/10x, starting with a few hundred or a few thousand dollars
It'll take longer but it's less work and less likely that you'll get JUST'ed

>> No.12311631

I have managed to get some profit almost every day since summer, but it has needed a lot of time and thousands and thousands of trades.

Somedays I get between 0,2 - 0,5%, even 0,5-5% if there are good news for certain coins or market is really going up. Somedays I just have to buy more to get average price down.

In sideways market it is easy to scalp, but the key is to get something from fast and small pumps even when market is going down several days.

My strategy is quite simple but it needs a lot of money (+$10k) and patience and it is not suitable for anyone who wants to live from trading because I'm not taking my profits, I'm investing them again.

>> No.12311643

>>12311631
This is what I mostly do;


1. Take profits often and don't be greedy. If I have 10 minute old position which is just +0,3%, I'm happy to sell it. That is nice 0,2% profit even after fees from that trade.
2. Trade with multiple pairs, BTC/USDT, BTC/ETH, BTC/XRP, ETH/USDT, XRP/USDT etc., in sideways market they when other drops, other might get you profits.
3. Trade only coins or tokens you won't mind keeping a looong time if the price drops suddenly, for me this is XRP, XMR, ETH, BTC, LINK etc., so the big ones mostly and few small ones that I trust will be bigger in the future. Basically about 25-35 different ones.
4. Dollar cost averaging, if your position drops suddenly, and there are now significant news, it will come back soon. Double position from bigger dips (> 2% drop) to get the average price down and you can sell with profit lower than your first buy was.
5. No stop loss, this is why rule 3 and 4 are crucial. Without stop loss, you might have to keep positions for days or weeks, but eventually they usually pump and you will get profit. I have been fucked by stop loss so many times so I stopped using it and changed to dca, with better results.
6. When your amount of assets grow, make bigger trades but keep in mind that you can fuck up really low volume markets if trading too big amounts. Doesn't matter what you do with BTC where volume is always high but for example with LINK, too big buys or sells can affect more than you want, sometimes there are snowball effects when trading bots react to your actions.
7. Follow crypto news and rumours daily, this is really important and will get you those 5% days if you can predict big movements (and Tether up early).

>> No.12311651

>>12311643
I'm partly trading manually, partly with bots, results are better manually but I'm also getting something while sleeping and wagecucking.
Of course my portfolio gets bigger just because I'm also buying more every month, but I have made a lot more with trading than I would have made just with buying and holding. For example LINK and ETH have been very good when swinging highs and lows.

I'm going to keep doing this, I don't care if BTC goes down to 2k or lower, I'm confident my constantly growing holdings of BTC, ETH etc. will be much more valuable in couple of years.

>> No.12311713

>>12311643
>>Point 5

Dca?

>> No.12311722

>>12311713
Dca = Dollar cost averaging, number 4.

>> No.12311737

>>12311651
Also I'm using stop loss, but only sliding stop loss, which is activated when position is in profit. So when position goes up let's say 0,5%, sliding stop loss is activated and if position starts to drop, it will sell it automatically. That is really good in fast pumps, I might not be able to sell straight at the top, but very often near the top.

>> No.12311812

>>12311282
Stupid fuck.

>> No.12311885

>>12311812
Nah your family

>> No.12311891

>>12311643
Leveraged or unleveraged?

I've tried day-trading on bitmex numerous times but get fucked by the Barts so often that I just gave up.

How much of your funds do you usually put in one position. Also, do you use hedging contra positions on future markets?

I'm thinking and trying out lots of things, but I lose on average, mostly because either to close stop-losses, or outlier squeezes like the one 1000$ squeeze a few months back.

Also I have a day job and don't want to be staring at charts the whole day, it sucks the life out of me.

>> No.12311942

>>12311891
Unleveraged, I don't use shorts or longs or any other tricks. Too much risk to get liquidated.

I try to keep it simple and fast, near future TA only, not thinking weeks or months ahead.

Usually max 1% of funds per position, if I managed to get intel of good news or there is an event or something significant happening soon, then more. When using dca, that 1% doubles every time I buy again so might have 4% or even 8% in one position if it has dropped many times. There more you put in one position, the more you stress about it.

If you have any programming skills, or even can read the code a little bit and change parameters, I recommend using bots, there are free bots or almost free bots available. Bots with graphical user interfaces are usually not free, but can be profitable also.

>> No.12311996

>>12311942
I've tried leveraged and unleveraged. After I had 0.10 bitcoin I saw no reason to ever risk liquidation for faster gains.

Futures are gambling no matter what anyone says, if you have a liquidation you are gambling because this is a heavily manipulated and volatile marke with flash crash and pumps of $100-1000 within a day.

Slow and steady BTC accumulation over time is the most important thing to focus on.

>> No.12312004

>>12311942
Cool thanks desu.

Yeah I have a masters in CS and work with ML model in my day job, been thinking about training an AI model for trading. I don't trust any bots which you can download, because, why would they be freely available if they were actually profitable.

I think I'll try the ML route and if that doesn't work I'll stick to hodling and buying my low-cap coins, I already wasted too much of 2018 staring at charts and reading crypto news. It didn't have a good effect on my mental and physical health lol

>> No.12312026

If you have to ask...

>> No.12312033

>>12310511
You can do that scalping penny stocks
I’ve made over a hundred a day with 5k.

>> No.12312252

>>12310521
fpbp

>> No.12312304
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12312304

>>12310511
For every daytrader who makes it, 10000s lose all their money.

>> No.12312330

>>12311282

If you could do 1% a day you would 37x your stack a year.

>> No.12312334

>>12311521
> better off hodling in bear market
Don't listen to any of these idiots. They're all poor.

>> No.12313079

>>12310511
100$. if you are compentent you can 2x that every day

>> No.12314024

>>12310511
I started in January with 0.6 BTC and now I have 35.5 BTC so yes it's possible. If you know what you're doing you could definitely make $100 a day on Binance with less than 5k. I only say 5k cuz you might need to spread some of your trades around a bit and you'll need some to double down if your position drops on you. All that said if you have to ask a question like this then maybe you should focus on just being profitable at first rather than some specific number. If you get too hung up on the latter you might get emotional and start making mistakes.

>> No.12314312

>>12311651
Hey do you have a program or anything to track it? I tried in spreadsheet but it takes a shit ton of time. I would be grateful for any pointers on the subject of tracking. I have Delta but it's far from ideal.

>> No.12314647

>>12314312
I wrote a Python script that logs into each exchange and computes my holdings in BTC and USD then outputs the total. With that and matplotlib for a nice graph, I keep track of my progress for eaxh exchange and the total. Google ccxt library.

>> No.12314696

>>12314024
>I started in January with 0.6 BTC and now I have 35.5 BTC
H-how?

>> No.12314698

>>12314647
Thank you. I can't code to save my life but I have a friend who I will pay to do that for me. Thank you frien

>> No.12314755

>>12311942
Solid advice. Are you from crypto twitter? I feel like I might know who you are based on your trading style.

love,

Lain

>> No.12314773

>>12310511
literally 2k

>> No.12315206

>>12314696
Youtube quickfingersluc. Watch his videos and do everything he says. That's the best advice you'll ever see on 4chan

>> No.12315685

If you want to make $100 a day. I would say $800-$1200. Just try to hour trade, you should really be studying charts for this. It's possible. My goal is currently $500 a week and I'm starting with $730. It is day three and I'm up $170.

>> No.12315800

>>12310511
> daytrading
> easy
Yikes. If this is what you think then no amount of money will be enough.

>> No.12315956

>>12310511

>daytrading
>at binance

The fact you're asking this instead of just doing your own research means you're better off buy lowing and holding until an obvious peak. You're going to get rekt, unironically. You do not have the mental and emotional fortitude to be good at daytrading.

You must possess the following qualities to be good at this:
>emotional robot immune to FOMO and FUD
>good at spotting trends
>technical knowhow to know what coins to buy when and more importantly, when to abandon them
>balls of steel when calling trades
>have oceans of time to trade, because you will get rekt if you don't keep an eye on it constantly

I like trading and the idea of doing it from time to time, but I found out that I'm not nearly stress-resistant enough to do it even part-time. Know your limits or you'll burn yourself.

Having said all that, I wish you the best. Learn the lingo, learn how to plot trends, read up on developments in the coins you're interested in and learn how to spot psychological manipulation. I'd start with Yuri Bezmenov or other master manipulators like him to learn about psychological manipulation so you can avoid pump and dumps.

>> No.12316063

>>12314755

yo lain come back to twitter please

>> No.12316304
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12316304

>>12314698
I tried to paste this in but 4chan didn't like it so here's a pic. It's a little script to calculate your holdings. Give it to your friend to touch up for your situation. He'll know what to do.

>> No.12316325

>>12316304

ca you put it on pastebin pls

>> No.12316370

>>12316325
Here you go. Note that I have it hardcoded for the exchanges I use and I have my own personal library for my keys hence the "import api_keys" part so you'll have to fill in your own. You'll probably have to make some changes specific to your situation and the exchanges you use but other than that, it's quick and dirty but it's cash.

https://pastebin.com/Q7KU2nA7

>> No.12316573

>>12311282
Well, apparently you don't know anything either or you wouldn't be asking this fucking question you nigger.

>> No.12316593

>>12310511
You can' t even do math, retard.
Just buy LINK, sit back for a few months, and be rich.

>> No.12316720

>>12311737
what exchange do you trade on that has trailing stops?

>> No.12316831

>>12316720
It would be trivial to implement your own trailing stop with the api of any exchange. Say you want the stop to follow within ~10%. Check the price every second or use websockets.

if price < trailing_stop:
create_market_sell()
elif price * 0.9 > trailing_stop:
trailing_stop = price * 0.9

Easy peasy.

>> No.12317661

>>12316063
Maybe later next year. The past few months I've been focusing on upping my dev game to get back into the IT industry so I can stack that fiat to buy the crypto dip next summer (when I expect bottom) and the stock dip over the next few years starting end of 2020. Since I'm not trading now, there wouldn't be much point and it would distract me from my study work. I'll probably re-appear a bit before the golden bull run, though.

>> No.12318089

>>12317661

ok man good luck (also i hope you at least have a suicide insurance stack of chainlink in the mean time just in case)

>> No.12318103

probably 5k if the market is going up