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June 16, 2021, 11:46:34 PM *
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1  Economy / Trading Discussion / Re: Scalping is the most controversial way to make money. My experience for 4 years on: June 13, 2021, 11:19:47 AM
I agree its all semantics and who you want to believe at the end of the day. For me idc if you are working in a prop firm or from a remote island. What matters to me is what you can pull out from the market on the daily basis. If you can pull out more than 3Rs a day every single day. You are a professional trader in my books but if you are sitting in a prop firm and barely making 1.5Rs - 3Rs, you still aren't there yet. Also never trust the boys working for the banks, they are there to manipulate you out of the game. Keep an eye for my post, i think you will like it Smiley As always Good luck and Good trading.
2  Economy / Trading Discussion / Re: Scalping is the most controversial way to make money. My experience for 4 years on: June 13, 2021, 09:43:51 AM
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My money management has always been balanced, I started at 1/20 of the deposit and constantly bet the same amount,

Well a lot of context was lost in google translations. I thought you were placing 5% on each trade. 1.25% is more like it.

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Stop comparing the professional trader and the retail trader. These are two different elements.

Being a "Professional Trader" is more a trait than an occupation. The "Professional Trader" is disciplined, follows strict set of rules. Never over leverages, doesn't relies on retail patterns and is basically the total opposite of the retail trader. This is literally the only difference between the "professional" and the retail trader.

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No professional trader trades with their own money, let's start with this.

Who told you this? Yes most of them join a trading firm to get hands on extra capital because the larger your account is, the less you can leverage. Ever tried to open a 500K or a mil Pro account on a retail broker? The leverage is nothing like what a Prop firm can offer. These firms provide them with extra liquidity but they are risking what they have. Besides there are literally thousands of "Professional traders" who never set foot in a trading firm cuz they aren't greedy and are satisfied with what they have.

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You see, trading is not an engineering profession, there are no strict rules and standards, and your reasoning will suit someone, but not someone.

Exactly! as I said above these are the traits and not a position at a fancy firm. What statistics will show you that people who were disciplined about their trading were more successful compared to strategy hoping retail traders.

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I have been working on it for 4 years. I am very good at scalping,

Well I will let you be the judge of it, Cuz you literally wrote the whole thread about how your friend who was just hodling made similar returns to you.

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One smart man said that it is impossible to teach trading in principle. You either have a predisposition or you don't. The predisposition is visible in the first six months. And if it is not given, then at least take 100 courses, but as you lost money, you will lose,

Doesn't sound smart at all to me, Sounds like retail logic. As I said in my last post, There is nothing random which is happening on the charts which will require "Predisposition". It's all logic and those are able to figure it out, Everything connects for them Smiley I'm planning to make a thread of my own on this cuz I have not seen anyone here in the trading discussion board talk about "smart money". Or able to demonstrate they understand how real smart money operates.

Anyways, As I said earlier, I'm not targeting you personally for falling into the retail trap. Retail education is filled with misinformation. I have nothing but good wishes for you. I'm glad you have figured out a strategy which works for you. Not many people are able to survive 4 years in the market. There is a reason why 95% of people lose money in this market and nobody takes the opportunity to investigate it. I wish you nothing but Good luck and Good trading.
3  Economy / Trading Discussion / Re: Scalping is the most controversial way to make money. My experience for 4 years on: June 12, 2021, 08:55:54 PM
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My money management has always been balanced, I started at 1/20 of the deposit and constantly bet the same amount,

See this is the very issue at hand. You are treating the market as some sort of a coin toss. You don't have a sound strategy which makes you think you are betting i.e gambling in the market. No "Professional/Pro" trader treats their trades as gambles. This is the very issue with the retail investing. They don't understand the market and are there only to grab some quick cash from it. There is nothing to "bet" if you truly understand what is really going on.

What any good trader will tell you is that you should never invest more than 3% on any single trade you take. The standard is 1%, 2%-3% if you are aggressive. 5% i.e 1/20 of the deposit just screams inexperience. You said you never used any stop losses which again is a very novice way to go about trading. Even worse when using margin. You have bad trading habits, I'm surprised you didn't end up blowing your account.

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Official courses do not guarantee you anything after taking them

Neither did I, but they do teach you the very basics of investing atleast. Like e.g Not risking 5% on every trade. How to use stoplosses effectively. How to prevent 25-30% drawdowns on your account in 1 trade. Basically all the mistakes you are admitting to, you won't have made if you would have taken the free babypips course or anyother matter of fact. Your results could have been much better if you had a trading plan.

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The best courses are your own statistics, accumulated over the years.

I don't quite agree there. If you don't understand how to use the tools in your inventory then you are bound to hurt yourself and unfortunately the market doesn't gives you many chances to recover. It's usually a fatal blow. It's like giving a surgeon license to someone who hasn't studied med their whole life and expect them to get better on their own without any help from actual surgeons.

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Professional trader? What do you mean by this concept? I am an ordinary retail trader. Professional traders never trade with their own money. Therefore, this is beside the point. Professional traders manage capital in hedge funds or investment banks and invest throughout their lives. Many people mistakenly believe that if they have been trading at home for many years, it means that they are professional traders. No, these are the most ordinary retail traders.

Again a very retail perception of what "professional trader" means. What I meant by professional traders was people who make a living just for trading themselves. Hedge managers aren't professional traders. I can assure you no hedge fund trades daily. Their positions aren't built on chart patterns. They are in for the fundamentals and not technical analysis.

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In terms of strategy, this is trading on certain patterns on the chart that I am best at trading.

And what was your winrate on this "pattern strategy", What kind of Rs you were expecting on each setup? What made you go in without a stoploss? Would you like to expand on these?
4  Economy / Trading Discussion / Re: Scalping is the most controversial way to make money. My experience for 4 years on: June 12, 2021, 05:03:13 PM
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It was a daily marathon of 10-12 hours at the computer, constant nervousness, constant risk, sometimes the market tested me for strength, leaving for a 25-30% correction.

Please don't take anything I say personally but I'm afraid you don't understand the very definition of scalping. A scalp can last from a few minutes to a day. A "day trade" can last from a couple of hours to a few days. This is what any professional trader will tell you. Your money management wasn't sound. You said you were down 25-30 % on corrections which again shows that you didn't understand what scalping is. In scalping you hunt for small setups, Anywhere from 1.5R to 3R with tight stop losses. You never risk more than 0.5% of your account on any scalp cuz that's the very nature of a scalp.

Did you ever go through any formal course in trading before jumping in? like babypips etc? Cuz any good trading course will teach about risk management and how you cut your losses straight away. You don't hold and hope for a recovery. The Professionals don't trade in that manner. The word "Hope" isn't in a professional trader's dictionary let me assure you that.

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but having initial knowledge of trading in the stock market, that is, I knew charts, patterns, etc.

And how was your experience in the stock market? What kind of returns were you able to achieve while trading stocks? Cuz from what you have described you aren't a professional trader or were at any point. This is a very novice/retail way of going about trading. If trading was all about Chart patterns and indicator signals then everyone would have become a millionaire by now. Just cuz you can name a head and shoulder pattern or read a divergence on a chart doesn't makes you a trader in any way or form. Speaking/knowing trading lingo isn't either. What makes you a trader is your ability to grow your account at a steady rate without huge drawdowns.

You mentioned how much time you spent on the charts but You never talked about your trade plan. What kind of strategies were in your trade plan? what kind of setups were you aiming for? Spending time in front of a chart without any trade plan is useless. You will not learn anything from it. It's like searching the ocean without knowing what you are looking for.

I do however agree with you on the amount of time which can be wasted if you go in without a plan. You can literally spend thousands of hours on the charts and you won't be able to come up with a single working strategy if you don't understand how this market really works. Unfortunately the reason behind it is not the retail traders but what the retail education has to offer. Retail education will only take you as far as Eliot waves, Wykoff's schematics and other harmonic patterns which leave you scratching your head when they won't work out even tho even a 5 year old will be able to spot them. The reason behind them not working out is not the ideas themselves but rather the "smart money" which knows how to take advantage of the dumb money who will be placing their life savings on the line over a "strategy" which they got off from YouTube.

I don't want to demotivate anyone from trading but please do yourself a favor and plan your trading journey out. Think outside of the box, come up with your own strategy. Backtest your strategy for atleast 6 months and then forwardtest it for 6 months. Don't even think about investing real money till you can prove to yourself that your trading plan works and you can grow your account over a period of 6 months atleast. I'm sorry you had a negative experience in the market but the market has done nothing but wonders for me and I can't be more thankful for what I was blessed with. I wish you Good luck and Good Trading Smiley
5  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 16, 2020, 10:37:30 PM
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Don't forget China/Asia. They're about to wake up there now.

Nothing beats NY volume tho. But will be interesting nonetheless...
6  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 16, 2020, 10:27:06 PM
$21400 what is this a pump for ants?  Grin

Dead hours, the Real show will begin tomorrow at NY open.
7  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 16, 2020, 10:15:07 PM
Too moon boiis!!! 22k incoming! hodling hard!
 
8  Economy / Invites & Accounts / Re: ⭐CHEAP⭐ ✅SPORT ✅ MUSIC ✅ STREAMING ✅ EDUCATION ✅ VPN SECURITY ✅ TORRENT ✅ ETC on: August 04, 2020, 07:38:20 PM
Got a vouch account from him, will update how long it lasts.
9  Economy / Gambling discussion / Infinite Profit Ez Method. on: July 27, 2020, 01:29:12 AM
1) Open a Crypto Casino.
2) Make unreasonable TOS, (nobody reads them anyway)
3) Pump money into a signature campaign
4) Give all payouts in the first year.
5) Borrow from banks if you go bust.
6) Once you have made a name for yourself, Use those TOS to Profit for life. Why settle for the house edge? When you can fuck with the players and scam them with TOS which they have happily agreed to? At this point anyone who will try to accuse you, nobody will believe them. Since you have already paid out in millions, Scamming a few thousand dollars which will cover your cost of hosting for a year would be "peanuts" for your loyal signature army who will standby to defend you. I mean why pay from your profits when you can fuck someone over?
7) Send some those shiny BTCs my way: bc1qzl3rnls6zfzsqnm7wwrg0y0ruuz6ge9cc6r3pv

This was sarcasm incase someone doesn't gets it.


At this point it is beyond obvious, I gave the Sportsbet.io thread a read @tyKiwanuka. It's just a mess. If they aren't willing to share how they identify multi-accounts that means their method isn't fool proof and can raise false positives. I just don't like the whole "Trust me" thing. People need to be aware of this stuff before they on goto gamble on these "trusted" books/casions. In the world of cryptos if you can't verify something then it's not something to be trusted, i just don't get why people dont get this...

10  Other / Beginners & Help / Re: [Warning]“Coronavirus map” contains malware on: March 12, 2020, 09:07:17 AM
Quote from: PrimeNumber7
It appears the malware is selling itself as a way to more efficiently track cases, and stay more up to date.

That makes it even worse... Why do we have bookmarks then?
11  Other / Meta / Re: why mods are not removing reported SPAMs on my threads? on: March 12, 2020, 05:46:20 AM
The staff here is not going to remove complaints about your services for you. whether they are "fake" or legit. If you wish to have service threads that are free of complaining customers, you have the option to create self-moderated threads. Then you can delete whatever "spam" you want.
I suppose that you can also make a rule on your threads that all complaints should not be posted on your thread, but in the scam accusations board, pms or elsewhere. However, the staff may still not help you enforce your rules.

This ^. Many of my Graphic Design threads were also tarnished in the past, there is no point in creating a service thread without it being self-moderated, I learned the lesson the hard way. You might get fake reviews from your competition. Most of them go like this!

SCAM STAY AWAY!

Move your current thread to archival and make a new self-moderated one... Good Luck!
12  Other / Beginners & Help / Re: [Warning]“Coronavirus map” contains malware on: March 12, 2020, 05:38:24 AM
Jeez! People are that paranoid these days, That we have 3rd party trackers for tracking viruses, huh! They won't trust official sources but are willing to trust random third party software which might come with all sorts of tracking and other malware. LOL!
13  Economy / Reputation / Re: Kawbet belongs to 1xbet/1xbit (known scammers) - Plz support flag! on: March 12, 2020, 05:25:22 AM
Quote from: LTU_btc
Why you're surprised? CMC previously advertised Yobit - seems they care more about money than moral.

Let's not talk about morals here... Scams aren't moderated here either... We have a section for Investor based games for crying out loud! Let's not get on high-horse of morality, when we haven't done anything about it either...
14  Other / Meta / Re: [QUERY] How to create an infographic in this community? on: March 10, 2020, 07:33:01 AM
Quote
Here is the infographic that I have made. Thank you so much.
[SERVICE]Charcoal and Graphite Portrait Drawings. Tho, it is not that much perfect but I am so happy with the result.

No problemo Tongue looks great! Good luck Smiley

Quote from: Maus0728
Anyways how can you create such an awesome animated gif?

I use adobe after effects for animations and adobe media encoder to export the animations as gifs...
15  Economy / Services / Re: ENVISION GRAPHIC DESIGN AND SOCIAL MEDIA MANAGEMENT SERVICES on: March 09, 2020, 12:26:33 PM
Bump!
16  Economy / Reputation / Re: Kawbet belongs to 1xbet/1xbit (known scammers) - Plz support flag! on: March 09, 2020, 12:06:06 PM
I agree with @logfiles's conclusion of Betb2b being owned by 1xbet but that still doesn't explain why Kawbet is using the deposit addresses used by 1xbit... IMO @royse777 explanation doesn't really explain why they would use the same addresses as pointed out by others that other operators using the same script are actually in control of the funds. I do have a theory on why Kawbet might be using 1xbit's deposit addresses... It's most likely that Kawbet owes 1xbet money and they will first recover those funds by being in control of funds deposited at Kawbet and once the amount due has been paid off they will get control over the deposits and withdrawals... As @Royse777 mentioned these scripts do cost a lot upfront so it's plausible that Kawbet got into an agreement of sorts with 1xbet where they are allowed to use their script but not have control over the funds which are being deposited... But if this is the case it doesn't paint a positive image of Kawbet, if they can't afford the script with an upfront payment then how in the world are they offering up to 7 BTC Deposit Bonus...  Huh Unless this script costs in millions which I doubt it does doesn't really help Kawbet's case here...
17  Other / Meta / Re: Total count of received & spent merit in the last 120 days on: March 09, 2020, 09:54:25 AM
enlisting for future use..
18  Bitcoin / Bitcoin Discussion / Re: Not an article about Bitcoin: "I accidentally sent £1,000 to the wrong account" on: March 09, 2020, 06:50:49 AM
Hmm, this is interesting... I always thought the chargeback was a simple process and the recipient had no control over it whatsoever... I went on a bit of statistic hunt after reading this, I did find some interesting numbers. A quarter of Vibepay's userbase had accidentally sent money to a wrong account and around 1 out of 10 people had done it last year. The number which surprised me is that 28% of these people never were able to recover their money... Given what @avikz has mentioned that there are certain legal routes which can be taken, I don't know why this figure is that high or can be justified altogether... Do people really don't care about their money? Or was it negligible amounts that weren't worth pursuing... Unfortunately, the stats weren't clear on that... But it still sends a wrong kind of image for the banks if they pride themselves of being safer than bitcoin...


Source:
[1] https://www.lovemoney.com/news/91297/sent-money-to-the-wrong-account-get-money-back-after-misdirected-payment  
19  Other / Beginners & Help / Re: Setting Up A Bitcoin Mining Rig As A Begineer In India on: March 09, 2020, 06:00:59 AM
Quote from: TheBitcoinChauffeur
I have finally decided to get this mining ASIC machine for bitcoin mining, and yes my final electricity rate is Rs.6.95 per unit.

Quote from: TheBitcoinChauffeur
The electricity cost is approximately RS.6 upto 300 units.

So which one is it? You just contradicted yourself... 300 units is too low! Given S17+ consumes 2680 watts of electricity you will be using up around 2.7 units per hour... Your miner alone will consume around 65 units per day and for a month this figure will reach around 1944 units! and if you are mining at your house you will have to add in the additional units of what your appliances will consume... Visit the website of your energy supplier and check how they charge you for additional units consumed over 300 units... Don't make uninformed decisions...

Quote from: TheBitcoinChauffeur
Also, for how many years will ASICs like S17+ Work?? Can it work viably upto 3 years??

There is no magic number, it may break on you the day it arrives or a decade down the line.

Quote from: TheBitcoinChauffeur
Also, can you guys recommend a good source for getting ever information and basics about bitcoin and ethereum mining??

youtube...
20  Other / Beginners & Help / Re: Setting Up A Bitcoin Mining Rig As A Begineer In India on: March 08, 2020, 06:54:10 AM
Not an 'expert' of any sort but I did mine as a hobby. First of all, there is no such thing as an expected ROI timeframe with mining. Bitcoin's price fluctuates way too often to calculate an accurate estimate. E.G one of my mining rigs paid itself in a timeframe of 4 months while the other did in almost 1 year and 5 months... Also, are you sure about $0.09 KW/h? I made a mistake when I started mining, I thought my cost was around $0.05 KW/h but it turned out it was progressive billing of sorts, Once I consumed over 500 Units the cost almost doubled, so be sure you know all of your T&Cs of your energy supplier so there are no surprises down the line.

At the current pace expecting an ROI in a year is way too optimistic IMO, Unless as I said before bitcoin's price doubles or moons again and you will have your ROI in no time... But it's a risk like all other investments. An S17+ will give you a profit of around a dollar a day so that's like 30 bucks of profit each month, you will only make around $300 by the end of the year nowhere near your investment and given the mining difficulty always rises over time this estimated figure will only go down... One way would be to sell the miner at the end of the year but usually, the prices of ASICs do drop sharply and especially when there is no demand in your region you have no choice but to hold on them... So make sure there is demand in your region for ASICs so that you can divest your investment if needed.  

If you just want to get a feel of how mining works and aren't comfortable with handling the risk of a large investment, get a GPU mining rig instead of an ASIC, you will be able to sell the GPUs easier in your marketplace as compared to an ASIC to recover your investment... Make sure you have accounted for most variables which can affect your ROI timeframe and you should have a pretty smooth sailing... As suggested by others Follow the Mining sub-board you will find quite useful stuff in there... Good luck!
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