Okay can somebody please explain to me what the point of daytrading is?

This is exactly where I'm confused. How could you lose money on QQQ when you have all the time in the world to recoup losses

No. That's a man.

Who or where are the legendary daytraders of history?

because like the other guy said some people are degenerate gamblers that go for meme stocks but the whole 90% of daytraders lose shit is a complete meme

Day trading is a meme and has been since the late 90's tech bubble popped

You hear so much about it because people make money selling day trading courses and shit, not because they actually make money day trading lmao

if you only ever go long on something that's pretty much guaranteed to go up long term then yeah you pretty much won't lose money, but the question is can you gain more than people who just put $100 in a week and hold for 35 years

So why would anybody do otherwise? Why sell for the sake of a daytrade, when you could hold and turn it into a swing trade?

Damn, how low is your IQ? You must be a literal retarded brainlet. Did mommy give you permission to browse on Yas Forums?

Simply male.

Look up shiftymine

Daytraders/bitmex users are the trading equivalent of coomers

Pmuch. Most daytraders are trading/looking at charts all day and completely forgetting that if they don't sell they have no loss. A lot would rather sell for a loss and immediately re open a position with leverage rather then wait a few fucking days or even a week to sell for a profit. Everyone is obsessed with having a huge profit to show off to others instead of being smart and using the super secret strategy of only selling for a profit. If you cannot sell for profit, HOLD. It doesnt matter if your trade is negative for weeks or months, you lose when you sell for a loss.

>Just wait a few days/weeks/months for it to be green again

That's where you're fucking up and that's where half of people fuck up. You're not managing your risk. There is no 100% always works method in any kind of equity trading. The day will come, sooner rather than later, that the price does not go back to where you entered in at, and it will wipe you out because you kept on holding.

The other half of people lose because they fall for the old "let your profits run" scam. No. You need to take your profits and run. They wait and wait for for fear of missing out, and then one day the peaks, falls, but they keep waiting for the hope it goes up again. Eventually, it turns on them because markets always turn. Having an exit strategy is even more important then your entry.

I don't use leverage, all of my coins are in a private wallet only I have the keys to. I can hold for however long I want. I don't care about "BRO YOU COULD HAVE MADE SO MUCH IF YOU DID A 10X" because all I hear is "BRO YOU COULD HAVE MADE SO MUCH IF YOU DID A 10X 10 BTC TRADE INSTEAD OF SELLING AT 16K!" That was something someone here told me, they were convinced I was an idiot for holding my coins in a private wallet and playing it safe rather than potentially losing everything in a flash crash or if the exchange froze my account/exchange got shut down or hacked. You are all gambling when you are leverage trading multiple btc on random exchanges.

No risk, no reward.

Human beings in general are more afraid of loss than they are of an equivalent gain. Your psychology is weighted against risk. That means we ought to actively push ourselves to take more risks in order to act objectively regarding expected value gains.

>next day/week
Hahahahahahahah

someone post the ETH pic

when you decide to hold for months to only get even you lost the opportunity to make money elsewhere. It is better to take 5 or 10% loss to then make a 20% then to hold for a year for no return.

just learn candlesticks, it has been used for 400 years by japanese silvers and rice traders.
>90% traders lose
This is too vague. Thing is 90% (majority) went into trading thinking they can get rich within a week, so they put all their money. They get in without proper knowledge and information. When they get in, first thing they do is google/youtube "how to trade stocks/crypto", then they get ads for exchanges/seminars or cringe clickbait "I MAKE 3000 USD IN 24 HOURS (GONE SEXUAL) MUST WATCH" videos. After some weeks they will learn about indicators, which is just another thing that the majority learn and used.

Thus, when these richbois know what the majority went thru, it is easy to exploit the majority. Hence the dumb majority hand over their money to the smart minority and scream "daytrading is a meme/gambling". You think the big moneys uses indicators? went to seminars? look up for info or opinions on google/youtube? Daytrading is the most gatekept community of all time. Nobody will tell you how to make it.
>Why?
Consider this, if you discovered a cave that spits out 1oz gold coin every day, would you tell your village about that cave?

my advice is this, dont trade, but hold. Find out some low caps stocks/crypto and hold. Do your own research on the companies/teams.
>Why hold lowcaps?
Bitcoin was 1 cent once.

If you still want to trade, trade big caps, only use 5%-10% of your capital (the rest is for holding). Buy every dumps, sell every pumps. Never buy on green, never sell on red.
>Why trade big caps?
So there will be always be buyers and sellers, thus you can enter and exit with ease.

>start daytrading
>not disciplined enough to take your losses
>!!!
>baghold into next week
>week turns into a month
>now your small loss is a big loss

You see that "!!!"? That's where you stopped daytrading

The Queen of/Pol/ and I guess /k/

The law of volatility in the stock market means that for most of a stock's life, if it goes down chances are it's going to go back up again. It's not like stocks are a pure upside-down V shape, where they go up and once they start going down they go down forever. Most companies in the S&P 500 are over 100 years old. Plenty of time to buy a local dip and cash out somewhere along the way, I don't see why you would think this is retarded