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Hey everybody I want to share my trading experience with these guys: https://discord.gg/2cjRufh. I've been using their free crypto calls for a few months, and I made a small profits 1-3% almost every other day. Also the community is very helpful and I learned a lot new information and ways to cope with emotional trading.
I will suggest you first start with small trades until you become more knowledgeable and calm.
your experience really helps other traders to make a profit but I personally still fear to do dayly trading in many altcoins, I only do some short-term trading in some altcoins that have fast value movementsI will suggest you first start with small trades until you become more knowledgeable and calm.
1-3 percent daily is still a big profit, but unlike many others who wish to make 10% or more daily, this topic have some sense. I will check this group in next few weeks, I already follow dozen of them. I use this groups to check my predictions, to verify them. I look for similar predictions, and to find new and interesting trades. It`s good to follow more than one group, in that way you are always checking others and yourself, it`s good for beginners and for seniors, you can always check yourself, or you can see some good tip. People, especially people from here, should practice short term trading, but always to have some coins on holding, why to miss a chance to make a profit on daily basis, why to miss a chance to buy something cheap today and earn a lot in few years? Big guys are doing like that, in more things you have your fingers in, more secure you are and less chances to miss something good.
1% per day on your capital is impossible to achieve consistently
That would mean that with $1,000 today you would have $1,427,587 in 2 years; how realistic that sounds? compounded on a daily basis that's 71379% per year
Even the best trading desks on wall street do not exceed 30% per year on average
Remember that risk level and long term returns are all what matters at the end of the day
if I think it's better not to stop and continue to buy lots of coins that have great potential because the price of the coin is cheap and to be held only until the coin has a large increase or if it is sold can get a good profit later
well, you have to realize that these coins have no value. They are not backed by any country, asset or fondamental. They are basically worth 0. Their only value is speculative. Holding coins hoping they will bounce in the future may yield results but it is one of the riskiest strategy, especially given that money has been flowing out of the market for now one year. If no new money pumps back into the market it will inexorably go south. Brokers will try to jack up bitcoin by all means but if bitcoin fails to gain more public acceptance, its value will gradually goes down to zero
Re: Is there anyone here consistently trading cryptos successfully?
The question may be naive, but truth is that i highly doubt we can find an active trader here with audited tax returns or trading records who can prove he consistently beated the S&P actively trading cryptos over the past years. Please, prove me wrong if you can
no one worth their salt is going to fork over their records to some random noob on bitcointalk.
I guess most lose their shirt, a few survive.
that sounds like most markets. what markets do you know of where the majority of traders are making money? it's generally estimated that 80-90%+ of traders are not profitable across the board.
This market seems to offers very bad risk rewards / low probability ratios, only making the brokers richer
i feel the exact opposite. this last few months, the returns have been diminishing because the range is getting so tight. but in general, bitcoin/altcoins trend much harder and move faster than virtually all other markets. trading the trends are very easy. i'm not sure what r/r setups you're looking at, but i find crypto far more profitable than stocks or forex.
As far as i understand, the crypto market works exactly like the FX and binary options, which is a super scammy industry designed to defraud retail traders.
Major crypto brokers are not even licensed neither audited and very likely highly manipulate the markets to crush the retail traders; wash trading, stop loss hunting, etc, you name it. Binary options and fx trading are banned in many countries for quite obvious reasons. Everything is designed to make you lose. Traders have less chances to win at this game than when playing the roulette.
Major crypto brokers are not even licensed neither audited and very likely highly manipulate the markets to crush the retail traders; wash trading, stop loss hunting, etc, you name it. Binary options and fx trading are banned in many countries for quite obvious reasons. Everything is designed to make you lose. Traders have less chances to win at this game than when playing the roulette.
i've definitely gotten the feeling that bitfinex and bitmex have run front running operations and engage in stop hunting. it doesn't matter. getting my stops run here and there is a drop in the bucket vs. the potential gains in this market.
Trading the trend is easy, but there has been no trend for one year now beside a few corrective waves; the stock market is trending very strongly at the moment on the other hand
Bitmex and Bitfinex are definitely engaged in deeply unethical business; no wonder why they hide their ass in offshore jurisdictions
Re: Is there anyone here consistently trading cryptos successfully?
Within trading communities, it gets pretty obvious over time: not many traders succeed. Most new traders in the Tradingview chat or in my private groups over the years only stick around for a little while. They get beaten down by overtrading and emotional trading, risk mismanagement sometimes coupled with outright bad luck. They blow up an account or two and they're gone forever. And that's exactly the type of people running around these forums calling TA bullshit and blaming "whales" and "manipulators" for their losses.
If you stick around the Speculation forum or any crypto trading groups, you'll see over time only the strong survive. The old hands who have been here for 3, 5, 7 years......they're still around because they're profitable traders. And we're a small minority.
If you stick around the Speculation forum or any crypto trading groups, you'll see over time only the strong survive. The old hands who have been here for 3, 5, 7 years......they're still around because they're profitable traders. And we're a small minority.
I was just raising questions here; i think it is important that people realize that only a very slim minority of traders make money in this business and that most will walk away leaving their money behind
Borkers and instructors / youtubers (who most of the time are endorsed by brokers) invest a lot of money trying to sell that falacy that you can make loads of money in no time.
TA is no bullshit, it is a self fulfilling prophecy:) it works, but you got to admit that brokers are defrauding retail traders by all means imaginable)
Re: Is there anyone here consistently trading cryptos successfully?
think about it, if these analysts, trading coaches, trading signal providers could really time the market, do you think they would be on the internet trying to sell you whatnot? they would be cruising on their yachts as we speak and making millions from their laptop
Nobody can predict the market; even most top traders fail to beat ETFs returns
Nobody can predict the market; even most top traders fail to beat ETFs returns
let me tell you this
it is absolutely imossible, especially now that the market has crashed and entered correction. In a sideway market you will lose 90% of the time
1% per day means that with a starting capital of $10,000 you would end up with $14,275,879 in 2 years (compouned). How realistic does it look?
The top shot traders in the largest banks rarely manage to do better than 20-30% a year; and these are professionals with the best tools and the best edge in the world, as they can move the market with the large sums they invest
You can make 1% one day, but you will lose 20% the next day; consistency and risk management is everything
The best way to make money in this industry is to be the broker; you make money 24/7 whatever happens and milk retail traders moving the market in your direction
it is absolutely imossible, especially now that the market has crashed and entered correction. In a sideway market you will lose 90% of the time
1% per day means that with a starting capital of $10,000 you would end up with $14,275,879 in 2 years (compouned). How realistic does it look?
The top shot traders in the largest banks rarely manage to do better than 20-30% a year; and these are professionals with the best tools and the best edge in the world, as they can move the market with the large sums they invest
You can make 1% one day, but you will lose 20% the next day; consistency and risk management is everything
The best way to make money in this industry is to be the broker; you make money 24/7 whatever happens and milk retail traders moving the market in your direction
Is there anyone here consistently trading cryptos successfully?
The question may be naive, but truth is that i highly doubt we can find an active trader here with audited tax returns or trading records who can prove he consistently beated the S&P actively trading cryptos over the past years. Please, prove me wrong if you can
I guess most lose their shirt, a few survive. This market seems to offers very bad risk rewards / low probability ratios, only making the brokers richer
Note i'm not talking about buy and hold during a major bull run like last year or that one guy who turned 1000$ into a million over a one shot x1000 leveraged trade, or pump and dump scams etc, i'm talking about real active swing / day trading
Even top shot traders at prop trading desks in major banks to not beat the S&P. Their audited returns show between 8 to 20% annualized which is quite miserable when you know you can bank 100% in 1 or 2 years with leveraged real estate
As far as i understand, the crypto market works exactly like the FX and binary options, which is a super scammy industry designed to defraud retail traders.
Major crypto brokers are not even licensed neither audited and very likely highly manipulate the markets to crush the retail traders; wash trading, stop loss hunting, etc, you name it. Binary options and fx trading are banned in many countries for quite obvious reasons. Everything is designed to make you lose. Traders have less chances to win at this game than when playing the roulette.
This year has been a sideway market, which makes it very hard for traders to make money, but is very good for brokers as traders try to make money from frequent, smaller highly volatile market movements. Many must have lost their shirt
Just looking at bitcoin charts i can see so many obvious signs of market manipulations, stop loss hunting, bart simpsons patterns / pump and dumps. This market is totally rotten to the bone and artificially pumped by brokers, the biggest scammers, as they hold (and move) most of the liquidity in this new unregulated market. Guess why coinbase doesn't want to be audited?
If you're successful at trading cryptos even in this bear / ranging market, awsome, i want to know you
cheers
I guess most lose their shirt, a few survive. This market seems to offers very bad risk rewards / low probability ratios, only making the brokers richer
Note i'm not talking about buy and hold during a major bull run like last year or that one guy who turned 1000$ into a million over a one shot x1000 leveraged trade, or pump and dump scams etc, i'm talking about real active swing / day trading
Even top shot traders at prop trading desks in major banks to not beat the S&P. Their audited returns show between 8 to 20% annualized which is quite miserable when you know you can bank 100% in 1 or 2 years with leveraged real estate
As far as i understand, the crypto market works exactly like the FX and binary options, which is a super scammy industry designed to defraud retail traders.
Major crypto brokers are not even licensed neither audited and very likely highly manipulate the markets to crush the retail traders; wash trading, stop loss hunting, etc, you name it. Binary options and fx trading are banned in many countries for quite obvious reasons. Everything is designed to make you lose. Traders have less chances to win at this game than when playing the roulette.
This year has been a sideway market, which makes it very hard for traders to make money, but is very good for brokers as traders try to make money from frequent, smaller highly volatile market movements. Many must have lost their shirt
Just looking at bitcoin charts i can see so many obvious signs of market manipulations, stop loss hunting, bart simpsons patterns / pump and dumps. This market is totally rotten to the bone and artificially pumped by brokers, the biggest scammers, as they hold (and move) most of the liquidity in this new unregulated market. Guess why coinbase doesn't want to be audited?
If you're successful at trading cryptos even in this bear / ranging market, awsome, i want to know you
cheers
in the same boat;like many others
will never use poloniex ever
You can bet your funds will be back when GAS will be worth horseshit
I have extensively dealt with dozens of exchanges in the past years, and can tell you that Poloniex and Hitbtc are by far the scammiest exchanges among the large marketplaces
I could write a whole book describing the grossly obvious frauds and market manipulation i have witnessed on poloniex. Poloniex shuts down the wallets for "maintenance" every once in a while when they can take profit of arbitrage conditions at the expenses of users.
Once funds are locked users have no choice but to dump their coins against withdrawable currencies at a loss. And guess who's on the next side of the deal? poloniex bots;
While the withdrawals are shut down for users, theirs aren't and they can make millions of the price difference with virtually no risk.
I'm not even talking about clients funds being held for weeks or months without compensation; while they gample with your money
Why this exchange is still running is a mystery to me
will never use poloniex ever
You can bet your funds will be back when GAS will be worth horseshit
I have extensively dealt with dozens of exchanges in the past years, and can tell you that Poloniex and Hitbtc are by far the scammiest exchanges among the large marketplaces
I could write a whole book describing the grossly obvious frauds and market manipulation i have witnessed on poloniex. Poloniex shuts down the wallets for "maintenance" every once in a while when they can take profit of arbitrage conditions at the expenses of users.
Once funds are locked users have no choice but to dump their coins against withdrawable currencies at a loss. And guess who's on the next side of the deal? poloniex bots;
While the withdrawals are shut down for users, theirs aren't and they can make millions of the price difference with virtually no risk.
I'm not even talking about clients funds being held for weeks or months without compensation; while they gample with your money
Why this exchange is still running is a mystery to me
Re: Charts are long-term Bad. Crypto is gonna get uglier. Listen to Spoetnik
stop the FUD
dump and take your loss if you wish but there are much more chances to see the cryptos moon in the long term than the opposite. This given the historical performance of bitcoin and ethereum and the exponential number of investor signing up on a daily basis
If you shit your pants because of 50% swings then you probably haven't been around for long enough to understand how it works
dump and take your loss if you wish but there are much more chances to see the cryptos moon in the long term than the opposite. This given the historical performance of bitcoin and ethereum and the exponential number of investor signing up on a daily basis
If you shit your pants because of 50% swings then you probably haven't been around for long enough to understand how it works
What people don't understand is that since the very beginning of cryptos, crashes like 50% or 70% in a few days have happened on a regular basis. It's just how it works.
Nothing new. All the bad news and the fud relayed by the medias are just distractions
Nothing new. All the bad news and the fud relayed by the medias are just distractions
I am not sure what other ways there would be to actually perform this in order to profit, but wouldn't doing arb with existing balances on exchanges work in a similar fashion than waiting for the funds to be deposited?
Exactly. All the posts here are commenting about transferring deposits to different exchanges. That's not how to do arb, and of course you'll lose money like that. You should have balances in all pairs on all exchanges you intend to arbitrage with beforehand, and then do the arbitration at the exact same time (buy order on one exchange, sell order on the other with no delay). The only time you'd then transfer between the exchanges is much later when funds from one pairing have depleted, or you want to cash out a little.
even this strategy doesn't make sense today because you have unlimited currency exposure
arb bots can make you richer in btc or eth but your total net worth in fiat won't change so what's the point?
bitcoin is down 35% since january 1 and falling further every week, so why would one hold any crypto when regulators are about to crack down big time
Thanks Magneto, I have tried it a little yes and accumulating bitcoin rather than fiat. I'm in a position where i can give it a practice run and see, so I might do a sort of research blog on it for the results. Should be fun, I'll let you know how it goes.
your strategy is flawed imo
accumulating bitcoins or eth is like keeping your money in venezuelian bolivar
it could be worth nothing later this year and has shown 35% inflation in just 1 month and a half
you get richer in BTC but poorer or stay even in fiat, so what's the point of what you're doing
you should dump btc and base your equity in euro (near zero inflation) at least for now
btw if you look at the charts, bitcoin was just like a massive pump and dump scheme and it looks like it is headed back to where it was earlier in 2016/17 until the next one; if there is any
so i wouldn't bet on it expecially given the massive threat of government crackdown this year
Hello all,
I've been mulling over in my head what the requirements are for inter-exchange arbitrage to affect the price of a particular market.
For example, if you have two exchanges, with the same market structure, both accepting deposits and withdrawals in base and quote currencies, it seems arbitrage is clearly possible, should a pricing discrepancy present itself.
But what happens if the market structure is different between exchanges?
Say, exchange A has a 'standard' LTC/BTC market where you sell 1 BTC and get 0.1 LTC instantly, but exchange B, is a CFD exchange trading LTC/BTC where you go short 1 BTC and then have to close the trade at a later point?
Is arbitrage still possible?
Cheers, Paul.
I've been mulling over in my head what the requirements are for inter-exchange arbitrage to affect the price of a particular market.
For example, if you have two exchanges, with the same market structure, both accepting deposits and withdrawals in base and quote currencies, it seems arbitrage is clearly possible, should a pricing discrepancy present itself.
But what happens if the market structure is different between exchanges?
Say, exchange A has a 'standard' LTC/BTC market where you sell 1 BTC and get 0.1 LTC instantly, but exchange B, is a CFD exchange trading LTC/BTC where you go short 1 BTC and then have to close the trade at a later point?
Is arbitrage still possible?
Cheers, Paul.
it has already been discussed millions of times across this forum
arbitrage is no more profitable; ship has already sailed months / year ago
there are now too many bots trading these opportunities, and the spreads are negative
there are too many reasons why the prices differences you think to see on coinmarketcap or whatever support you use, won't work
my advice to you is to stay away from that business for now unless you're ready to suffer losses
Why look for large gaps in price which can result in risk dealing with strangers?
Instead, create account on major exchanges, look for smaller profit, then just rinse and repeat.
http://www.arbitrage.expert makes it super easy to identify arbitrage and execute within minutes.
I don`t like rolling lots of money through unknown and sometime illiquid exchanges. Most of the times it is very easy to get the money in. Problems mostly start when trying to whithdraw. Also I like +10% premium because when trading for small % the risk is very high because of volatility and transaction times. As I am not a full time trader and have other things that occupy my attention I prefer building real human relationships and doing bigger transaction and be safe volatilitywise. Of course there is always a risk when dealing with other people and sharing profit margin. But there are security steps like escrow or alternating day by day who sends first. It is still worth the risk if you can participate on the big +30% premiums like the korean markets. I will definetly give your approach a try. If anyone has a experience to share involving another human arbitragin feel free to chime in.Instead, create account on major exchanges, look for smaller profit, then just rinse and repeat.
http://www.arbitrage.expert makes it super easy to identify arbitrage and execute within minutes.
i honestly don't know where you find your 10% 30% deals
Japanese, korean, australian exchanges do not sell at such a big difference, and the gaps are shrinking day after day
best crypto to fiat deal you can find as of today is perhaps 5% after fees
99,99% of the prices differences you may think to see nowadays are due to a reason; either the exchange wallets are shut down, either the network is down, either the low/high price exchange is a total scam that will either steal your money or hold it for weeks, either volatility is insane and makes any arbitrage impossible to execute without risking massive losses
Free lunch days are gone for good my friend
It has become insanely competitive and there is no more money to be made in arbitrage, unless you are an expert in high frequency trading and have millions of dollars to rotate to trade 0,01% profits
There are no more manually tradable arbitrage opportunities; the ship has sailed months / a year ago
All what is left now are insignificant (around 1%) differences between exchanges that are impossible to trade and extremely high risk
You'd better trade pumps or whatevers than this; it's just not worth it anymore
Free lunch days are gone for good my friend
It has become insanely competitive and there is no more money to be made in arbitrage, unless you are an expert in high frequency trading and have millions of dollars to rotate to trade 0,01% profits
There are no more manually tradable arbitrage opportunities; the ship has sailed months / a year ago
All what is left now are insignificant (around 1%) differences between exchanges that are impossible to trade and extremely high risk
You'd better trade pumps or whatevers than this; it's just not worth it anymore
Arbitrage in cryptos is not profitable. The fees always negate any profits generated. Swing trading is a lot more sensible and very practicable for expert traders.
Sorry bro. But how can a 30% premium not be profitable? Someone from lets say Australia (10% premium) can send me unlimited amounts of money for very good exchange rates and small fees. How can this not be profitable. With xrp we are talking about 2 minutes transaction time. Trading involves risks. Arbitrage is much more safe volatilitywise. It has a expected value you can calculate. The only risk is the human. Like always
. You can not open accounts on korean exchanges and withdraw fiat. Only a Korean can. It is 100% legal for him to do this with you as long as he not sends more then 50k usd overseas per year. All you have to do is find a trustworthy Korean. And as Koreans are generally very well educated, behaved and crypto affine the chances are high of getting to know someone who is legit.Especially if he is vouched for. And just for the record. I`m doing it already with 5 people (2 are privat friends I personally know) and it is profitable. Of course I can not risk to roll too much money in one sending because of obv risk managment reason but overall it is very profitable equity wise.
well, if you can trade with koreans good for you, 30% net per trade is the bare minimum i would command for such a high risk activity
Your "buddy" can just run with your money, koreans banks can freeze his accounts, korean regulators can shut him down as it is illegal to move more than 50k out of the country per year, you can get hacked and finaly i bet you do your trades without hedging strategy and therefore are exposed to total loss if the market crashes
Koreans are cracking down big time on cryptos, so your business model s probably not sustainable
Now, regarding +10% australian markets; these prices differences are gone and are now more in the 5% and shrinking; any australian can hit gdax or kraken and get 10% cheaper coins. These guys speak english.
Then you need to take out the 2x the trading fees, exchange transfer fees, bank transfer fees, and eventually FX conversion rates and commissions + the time to complete the cycle; probably weeks.
Then depending where you live you run the risk to be shut down by your bank as well because of AML regulations, and could also raise interest of the tax and law enforcement authorities even if you're clean
Having this in mind, i could do it yes, but not for less than 30% net after all fees, which is impossible nowadays
good luck using Exmo 
Fyi this exchange is a half scam ukrainian company
If you plan to cash out there, they will hold your money for weeks maybe months before you hear from them; just have a look to the dismal reviews and judge for yourself
they may exit scam one day or another too
99,99% of the prices differences you may think to see nowadays are due to a reason; either the exchange wallets are shut down, either the network is down, either the low/high price exchange is a total scam that will either steal your money or hold it for weeks, either volatility is insane and makes any arbitrage impossible to execute without risking massive losses
Free lunch days are gone for good my friend
It has become insanely competitive and there is no more money to be made in this field, unless you are an expert in high frequency trading and have millions of dollars to rotate to trade 0,001% profits
There are no more tradable arbitrage opportunities; the ship has sailed months / a year ago
All what is left now are insignificant (below 1%) differences between exchanges that are impossible to trade and extremely high risk
Fyi this exchange is a half scam ukrainian company
If you plan to cash out there, they will hold your money for weeks maybe months before you hear from them; just have a look to the dismal reviews and judge for yourself
they may exit scam one day or another too
99,99% of the prices differences you may think to see nowadays are due to a reason; either the exchange wallets are shut down, either the network is down, either the low/high price exchange is a total scam that will either steal your money or hold it for weeks, either volatility is insane and makes any arbitrage impossible to execute without risking massive losses
Free lunch days are gone for good my friend
It has become insanely competitive and there is no more money to be made in this field, unless you are an expert in high frequency trading and have millions of dollars to rotate to trade 0,001% profits
There are no more tradable arbitrage opportunities; the ship has sailed months / a year ago
All what is left now are insignificant (below 1%) differences between exchanges that are impossible to trade and extremely high risk
I've been following the crypto game for a while now and enjoyed some pretty nice arb opportunities back in the early bitcoin days, but what i can tell you now is that these opportunities are gone and the prices are now all aligned because of the proliferation of bots and arbitragers
The only price differences you see today are always here for one reason; the exchange is either a total scam; wallets are disabled or volatility / risk is extreme and arbitrage doesn't make any sense
It is a waste of your time and money imo pursuing that endeavour, as it is now becoming exclusively reserved to well funded and staffed professionals who can deploy low latency bots with very sophisticated strategies
The only price differences you see today are always here for one reason; the exchange is either a total scam; wallets are disabled or volatility / risk is extreme and arbitrage doesn't make any sense
It is a waste of your time and money imo pursuing that endeavour, as it is now becoming exclusively reserved to well funded and staffed professionals who can deploy low latency bots with very sophisticated strategies