Coinbase Day Trading

oilbreh

Woodpecker
@lonewolf1992 - It seems you are looking at returns of about 50-100%. It's possible, but not likely.

I made my first trade in 2009. Over eight years it turned out to be a 50% loss, and probably more than your starting capital.

I have made few trades in the time between 2009 and now, all the time watching markets, noting patterns and learning to control my passions.

I have identified patterns in markets for low-risk, high-return entry points. These come around rarely and they occur when your mind tells you not to buy and when you buy you are most worried of the loss. Taking on an excellent entry point requires discipline, as does choosing the right exit point.

Back in March we had a low-risk, high-return entry point when BTC crashed to $3,500. Friends had told me to let them know when they should buy Bitcoin. So in March I told them - now is the time to buy. None of them bought. Fast forward to a few months ago when Bitcoin has reached close to its 3-year high and now they are all getting in. This is why, as someone notes above, some people make a lot of money because a lot of people loose. People are herd-like and wired to make the wrong decisions in markets.

Day trading is a bad idea for anyone who is not prepared to take it seriously as at least a part-time job. Successful day-traders have systems they stick with and resilience. They can take on $20K losses, knowing that on average for each $20K loss they can make $30K, $40K. Anyone who doesn't have an idea what they are doing, from years of observation, will loose.

For retail investors, the solution is to set and forget, which has lower possible returns than full-time trading. i.e. for stocks the average Joe buys and holds for 40 years. That's the simple winning formula for people who don't know what they are doing. If you are a bit more savvy you can try and pick perfect entry points and perfect exit points. Entry points are easy to spot, but they come around rarely. Luckily with crypto they come a bit more regularly. You get a perfect entry point about every 1-2 years; while with broad stocks the perfect entry point is about once every ten years.

For crypto you can do it with one simple indicator, which is RSI <= 30 on 1w candles:



[The bottom line is RSI - when it is low and white is <= 30. The entry points on that were late 2018 and March 2020, both excellent entry points]

Every time it does that there, you are able to make 1X, 2X, 3X within a few months and possibly more if you hold longer.

The exit point is more difficult to pick, but RSI >= 90 with a parabolic spike in a short period, e.g. up $5,000 in three days is probably going to be your exit.

But most people can't stick to that. I've been aware of the above simple entry and exit points for some time, but fear always gets me from just fully sitting back.

Right now is not an obvious entry point for crypto. We've just got passed a bump where retail/noobies have pilled in and whales have taken profit.

My guess is that crypto is going to tank big in the next 12 months with the coming market crash. That is your buying point. If you buy then and hold until it goes parabolic you are likely to make the best gains you are likely to make. 5-10X. That is my opinion of what I think will happen,.

I am suspicious on this pump BTC is having. It has had well timed news at some key moments with swipe and paypal. Bitcoin futures data shows largest traders are more short than long.
 

Deepdiver

Crow
Gold Member
I studied institutional trading with one of the worlds highest IQ Traders... I have a number of Posts in the Stock Market thread and posted charts based upon working with him as my stealth advisor.

We do some detailed analysis of Bitcoin for academic exercises. His focus is on 7 by 24 traded S&P 500 futures on the CME and Globex markets as well as Oil futures.

All markets are manipulated that's how the Fed has supported markets subsequent to the March Covid Crash.

However some manipulated more than others... Google the HUGE almost $1 Billion FINE JP Morgan recently paid for manipulating the Gold and Silver futures market...

News flash Cryptocurrency entire market cap today on Coinmarketcap is only $389.5 Billion a fraction of the traditional Institutionally traded markets and easily manipulated by offshore whales in unregulated jurisdictions with previously hacked and dodgy exchanges... The definition of high risk markets and exchanges.

That said the UniSwap on chain DEX is addressing the security issues of dodgy easily hacked exchanges and their Uni coin is promising. UniSwap now exceeds Coinbase trading volume with greater on chain security and much lower fees.

Send me via PM your protonmail secure Swiss domiciled email address and I will send you the latest Oct 20 PDF report on the current opportunities in the Crypto and Defi space including UniSwap, BTC and ETH et.al. other promising projects suitable for buy and hold with dramatic asymetric HODL potential as Day trading Coinbase is a 98% FUD FOMO Emotional loss prone rollercoaster before considering Whales pumping and dumping.

Anyone else want the Oct20 PDF Cryptos report send me a protonmail adx via PM.
 
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when you use coinbase do you actually have the bitcoin in a wallet? I mean, could you buy something with bitcoin? Or is it like trading oil or gold where you don't actually own it?
 

gework

Ostrich
Gold Member
when you use coinbase do you actually have the bitcoin in a wallet? I mean, could you buy something with bitcoin? Or is it like trading oil or gold where you don't actually own it?

CoinBase is meant to be heavily insured and have good security. For noobs it may be a better place to store coins. But if yoy loose the coins due to your negligence then I don't know what they do. My bigger worry is they are highly regulated. Banks are increasinlgy making it difficult to move your own money. I have a large sum trapped due to regulation. You dont really own the money in your bank. So I am making a bigger move to stable coins, which you can get good interest on. No bank or govt. can force or stop our transactions without physical force. And its much harder for them to identify your assets.

You can now do all your trading on defi exchanges. Its a much simpler XP. I have spent a day transfering funds all over the place, veryfying 100 logins and transactions by email and authenticator. With defo just plug in your wallet and youve done all your transactions in a few minutes. Defi is growing rapidly. You need to onramp with coinbase et al, but after that its better to get out.
 

Deepdiver

Crow
Gold Member
FYI Longterm BTC Weekly Wave analysis and Fibonacci Retracement Chart - Now in the A-B-C reversal of the 19,892 All Time High correction of 11 Dec 2017.

After the 2018 correction we entered an A-B-C reversal - the C leg recently tested levels below the C Leg Trend Channel but recently closed on it slightly above the .618 Golden Ratio retracement so could continue the Trend Channel up to C leg target of 18,000 -OR- could break below the Trend Channel again... to be a reliable Trend Channel we have to respect the high and low channel lines while oscillating the RMS Root Mean Square Mid-Point... suffice to say this is a weak trend channel for BTC reflecting its somewhat unpredictable volatility due to whale manipulations etc...

1603308155300.png
 

TXbro

Pigeon
Gold Member
I started this thread for anyone who may be interested in helping me make some moves.I am new to coinbase and interested in cryptocurrency day trading.I am looking to make my first buy and sell today.Does anyone have any reccomendations?

Thank You
David

>Day Trading
>I am new

You're going to lose all your money. Don't do it. Just do dollar cost averaging and don't put in any more than you can afford or else you'll be forced to sell at a loss if you need cash.

Legendary trader Peter Brandt said that less than 1% of are successful at day trading. So imagine math geniuses from MIT, CalTech, Harvard, Princeton that day trade, even they lose their assess.
 

TXbro

Pigeon
Gold Member
I studied institutional trading with one of the worlds highest IQ Traders... I have a number of Posts in the Stock Market thread and posted charts based upon working with him as my stealth advisor.

We do some detailed analysis of Bitcoin for academic exercises. His focus is on 7 by 24 traded S&P 500 futures on the CME and Globex markets as well as Oil futures.

All markets are manipulated that's how the Fed has supported markets subsequent to the March Covid Crash.

However some manipulated more than others... Google the HUGE almost $1 Billion FINE JP Morgan recently paid for manipulating the Gold and Silver futures market...

News flash Cryptocurrency entire market cap today on Coinmarketcap is only $389.5 Billion a fraction of the traditional Institutionally traded markets and easily manipulated by offshore whales in unregulated jurisdictions with previously hacked and dodgy exchanges... The definition of high risk markets and exchanges.

That said the UniSwap on chain DEX is addressing the security issues of dodgy easily hacked exchanges and their Uni coin is promising. UniSwap now exceeds Coinbase trading volume with greater on chain security and much lower fees.

Send me via PM your protonmail secure Swiss domiciled email address and I will send you the latest Oct 20 PDF report on the current opportunities in the Crypto and Defi space including UniSwap, BTC and ETH et.al. other promising projects suitable for buy and hold with dramatic asymetric HODL potential as Day trading Coinbase is a 98% FUD FOMO Emotional loss prone rollercoaster before considering Whales pumping and dumping.

Anyone else want the Oct20 PDF Cryptos report send me a protonmail adx via PM.
 
Legendary trader Peter Brandt said that less than 1% of are successful at day trading. So imagine math geniuses from MIT, CalTech, Harvard, Princeton that day trade, even they lose their assess.

The above is true for any performance based field.

New to Forum. Very interested in trading.

Is there anyone here that trades ES and in the globex market?
 

Onzie7

Newbie
I studied institutional trading with one of the worlds highest IQ Traders... I have a number of Posts in the Stock Market thread and posted charts based upon working with him as my stealth advisor.

We do some detailed analysis of Bitcoin for academic exercises. His focus is on 7 by 24 traded S&P 500 futures on the CME and Globex markets as well as Oil futures.

All markets are manipulated that's how the Fed has supported markets subsequent to the March Covid Crash.

However some manipulated more than others... Google the HUGE almost $1 Billion FINE JP Morgan recently paid for manipulating the Gold and Silver futures market...

News flash Cryptocurrency entire market cap today on Coinmarketcap is only $389.5 Billion a fraction of the traditional Institutionally traded markets and easily manipulated by offshore whales in unregulated jurisdictions with previously hacked and dodgy exchanges... The definition of high risk markets and exchanges.

That said the UniSwap on chain DEX is addressing the security issues of dodgy easily hacked exchanges and their Uni coin is promising. UniSwap now exceeds Coinbase trading volume with greater on chain security and much lower fees.

Send me via PM your protonmail secure Swiss domiciled email address and I will send you the latest Oct 20 PDF report on the current opportunities in the Crypto and Defi space including UniSwap, BTC and ETH et.al. other promising projects suitable for buy and hold with dramatic asymetric HODL potential as Day trading Coinbase is a 98% FUD FOMO Emotional loss prone rollercoaster before considering Whales pumping and dumping.

Anyone else want the Oct20 PDF Cryptos report send me a protonmail adx via PM.
so where would i learn how they manipulate markets and profit off of it?
 

wojak

Pigeon

Take it from Sam, OP - you're not Chinese enough. Any money you might make from day trading will be the result of luck, not skill. In time, your luck will run out and all of your gains will be erased by a single bad trade.

To the extent that you've got an interest in corporate analysis, I recommend the book You Can Be a Stock Market Genius by Joel Greenblatt. It's about keeping track of extraordinary corporate events like spinoffs, acquisitions, and restructurings - things that high-frequency trading algorithms and self-proclaimed "technical analysts" aren't able to understand - and doing the reading that few people are willing to do to uncover opportunities for stock price appreciation.
 

redbeard

Hummingbird
Moderator
Byteball hahahah, Sam bringing out the throwback altcoins. Byteball ($GBYTE) hit an all-time-high of $1,180, currently trades at $26.

Should've bought Bitcoin and spent that time trading enjoying the outdoors.
 

Lionheart

Sparrow
Years ago an accounting professor of mine said that day trading is a very effective way of transferring wealth from less sophisticated people to more sophisticated people.
It is actually transferring the wealth from the poor to the wealthy. Wealthy traders can ride out storms indefinitely whereas everyone else folds when the times get tough.
 

Onzie7

Newbie

Take it from Sam, OP - you're not Chinese enough. Any money you might make from day trading will be the result of luck, not skill. In time, your luck will run out and all of your gains will be erased by a single bad trade.

To the extent that you've got an interest in corporate analysis, I recommend the book You Can Be a Stock Market Genius by Joel Greenblatt. It's about keeping track of extraordinary corporate events like spinoffs, acquisitions, and restructurings - things that high-frequency trading algorithms and self-proclaimed "technical analysts" aren't able to understand - and doing the reading that few people are willing to do to uncover opportunities for stock price appreciation.
thank you, I'm looking into it and I'm going down the rabbit hole. Day trading seems to me like a big scam, and when he said I'm 23 it hit me; all the guys I know who claim to make money are mid-20s and dont have anything to show for it.
 
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