Friend dropped out of college to day trade because he believes he can predict the charts using astrology.
By - Chasekt98
I thought you were making a joke about technical analysis but Holy crap
No jokes here. This is real.
Yeh this guy made a huge mistake and will regret it within the next 4 weeks. That’s what astrology told me.
Haha you would say that, GEMINI! 🤣
I was exposed to astrology by the first Gemini I ever dated. No coincidences
My best friend is obsessed with astrology and spiritual numbers, she’s also a Gemini.
Only a capicola would think that
It is the future of finance. 🤣
You don't need Astrology to see the "signs" of their monumental stupidity.
Poor guy. Let's hope he doesn't turn to you for financial help when (not if) he needs it.
I have seen people on Twitter making comments about “it’s a full moon soon so we go up” and you’d like to think they were joking but at least some of them probably really believe the stars can predict your future.
Weird thing about humans...reality is subjective as in subject to the limits of human observability. If enough believe in a fabrication and *act on that belief* the result can appear to prove (statistically...) it was true despite being an obvious lie in hindsight.
It can’t be, it’s just too absurd
We live in absurd times
How do I iNVeST 🍌
Are they successful? I mean you can only talk shit about it if it’s not working
I met someone like this recently too, claimed astrology was her secret and was working as a trader. Is there some guru out there teaching this to people?
There is! Her name’s Luba Lovegood.. she’s all grown up!!
Sounds like a jelly they keep behind the locked glass case at the local supermarket
Lol. Typo of course, but I’m sticking with it!!
Whatever the case may be, OP’s classmate is gonna need some Luba if or when the markets catch up
I trust astrology just as much as I trust TA.
Tiny anuses, never trust one! Ever.
Those tight little fuckers…
This guy heard "moons" and started checking the lunar Calendar
I get that college isn't for everyone but dropping out to predict charts based on astrology is the dumbest thing I've heard this morning
This morning? Wow really high bar you've got there
Clearly, he works in IT.
Or spends any amount of time at all on Reddit?
Oh, good point. Hrm. I'm in IT /and/ I spend a pretty significant amount of time on reddit.. I may say, and do say, with authority, there //are// stupid questions.
Have you looked around at the world lately? Going an entire morning without hearing something dumber than this is an accomplishment.
You shoulda heard the crazy things from their yesterday
Nursing doesn't need stupid people. Glad he got out.
He can predict the level of care you need based on the phase of the moon and your horoscope in today's paper
Oh no, akshully he needs a personalized star chart.
I dropped out of college because I was a depressed alcoholic. Is that dumber or less dumberer?
Hey, at least its a "was" instead of an 'am'.
I still am, but I used to be, too
I don't drink anymore but I also don't drink less than college or something I am also drunk
"I don't drink anymore, but I also don't drink any less"
Oh i definitely still am. I just do what I have to do now. Also, getting therapy and all that fun stuff to help.
Less dumberer,you got a good reason to drop but did you take drop or you were kicked out ?
Seems this person is voluntarily withdrawing from university by acknowledging the lack of necessary critical thinking skills which would be appropriate for higher education. +1 for self-awareness.
May be he dropped because he want some time to do this ,astrology stuff.
I had to back out of a friend's crypto discord when I discovered they were making picks based on someone named 'White Rose' doing numerology readings and deciding if a token/coin had good energy.
They all sincerely believe they're set up to own parcels of land on a commune together sooner than later.
Jim Jones style of Crypto trading, I like it. I'll wait to see what color the Kool-aid is though.
Pretty dumb but however the moon has predicted bitcoin's movements for over a year now pretty accurately.
To the moooooooooooon!!
To confirm how stupid this is - Ive been working with a travel nurse who made 480k last year, and 460k ytd this year. Lol.
Not every nurse make this amount of money.average income would be a good criteria to judge.
i mean if the astrology tells him to do DCA he's not wrong.
Hes flipping his coins. Buying cryptos with cryptos.
In the US, you pay capital gains tax on your wins. So if you bought BTC for $100 and your BTC goes up to $105, you pay tax on the $5 when you sell. If you sell in under 1 year, you pay short term capital gains, 10-37%. If you sell after 1 year, you pay long term capital gains, 0-20%.
You need to report losses too
if he's smart he's not using kyc.
Explain. But no. Hes using coinbase
Every trade is a taxable event. Every loss can be deducted against gains, but he has to keep records to show all of these trades. Him personally, not Coinbase, because they don't report the detail to the IRS, they just send a 1099 form as his gross trades (NOT net gains!) exceed certain amounts. If he doesn't keep those records, the IRS will laugh at him and demand payment based on the 1099 reports even though they will be wildly inflated over his actual net gains.
He should at least find a tax service that handles all of this crap for him. Someone that delusional probably isn't going to, though.
I would recommend distancing yourself from him because inevitably he is going to implode and there's a solid chance he'll blame it all on you.
>the IRS will laugh at him and demand payment based on the 1099 reports even though they will be wildly inflated over his actual net gains.
Why would they be wildly inflated over his net gains?
they wouldn't, this info is full of shit.
if all you do is trade on coinbase, the 1099 is no different than the net gains: you quite literally output a spreadsheet of transactions. and can show the net instantly.
the pain was (and still is) filing every single tax event separately.
No different than day trading high volume stocks
What net gains? He's going to lose all of his money.
then yeah, every trade is a taxable event lol
What exchange is even not KYC???
That’s called leverage trading and he will definitely go broke doing it, most especially if he’s relying on astrology.
There are lower risk (not low risk), long term strategies one can use with leverage trading to minimize losses and maximize gains, but if he’s “day trading” with astrology, he’ll be broke before he knows it.
Astrology is absolut legit for chart analysis. The rate of success is about the same as it is with technical analysis.
Edit: Just different words for guessing
With no steady income he’ll most likely make a bad trade and need to get a job eventually. As they say.. 100 good trades can be undone by one bad one. Best of luck to him and his astrology method..
My thoughts exactly.
Not to mention the stress that comes with day trading for full time income
This gets me because xan't you just put a healthy bit into a consistently appreciating asset and literally live off dividends or even leverage against it?
I’d say it depends on your financial situation to begin with. If you have a solid nest egg you probably can do this. But if you’re the kid that turned 3k into 15k and think you can trade until ur set for life I’d say you’re in for a rude awaking.
That's it right there. I'M the guy who leaves his wallet in the hotel room to go to the casino. I have a plan to "Spend" the amount if fiat I brought with me. If I lose oh well, it'd just entertainment. If I win walk away.
My Bitcoun wallet tragically was destroyed when the San Salvador ATM burned. But I always only ever buy from "entertainment" budget anyways.
Same here. I bring $200 or so to the casino floor and as far as I’m concerned the money is already gone lol. I’m there for entertainment.
LOL 100 good trades can be undone by one bad one? meaning you risk your entire portfolio in each trade?
Key word is can. Personally I only trade with 5-10% of my portfolio. But I also have a full time job and invest mostly long term. Day traders tend to take more risks and when things go bad some ppl double down
Edit: also I don’t ever intend to speak in absolutes. Some people are capable of making a living day trading.
I tried my hand at day-trading. I was surprisingly good at it, but I only had a few weeks off work and I'm not ready to quit my job over a few good weeks. That being said, I can attest to using the double down method. Sometimes you know you have the right idea, you just missed the timing a little. 90% of the time it worked every time, the other times it wipes out 100 good trades.
Lately I've been YOLO'ing options based on the least retarded WSB DD posts and pretending like it's not a problem. Thank God I had the intelligence to at least limit my trading amounts because I am not good at trying to be lucky for once in my life.
Have you seen WSB?
I'm still 100% in on GME lol
The stars are pointing to broke and homeless.
constellation face-tattoo McDonald's fry-guy
Sounds like he took the "to the moon" thing a bit too literally.
Wasn't there a study where they gave a monkey a stock portfolio and let him choose stocks, and he did just as well as the top 12 advisors? Just saying astrology is a load of crap but predicting the stock market is also a load of crap so maybe there is a crap-to-crap connection?
Turd to turd
1 💩 = 1 💩
Link to said study?
Raven, a six-year-old chimpanzee, became the 22nd most successful money manager in the USA after choosing her stocks by throwing darts at a list of 133 internet companies.
He is also an avid shitposter here.
I’m way more impressed that a chimp learned darts.
Well they gave him the best sector.
The real question that nobody is asking... What monkey put the initial list together?
Survivor bias. Every other random experiment which failed didn't get to the news. So you only see the successful one and take a conclusion from a sample size of 1
100% of the times I've responded to u/datsundere, someone replied 'Nice'. Even though my sample size is 1, I can sAFeLy aSsUme iT WiLl HaPpEN EvErYtImE
Butt to butt, back and forth forever.
He's not the first. There's a girl in YouTube that also does this.
Her name is Maren Altman.
That's the problem with bull markets, everyone starts thinking they're a genius and they've cracked the code. No matter what nonsense someone trades on they will make money in a rising market. When the bears come he'll be raped though.
I doubt they are the type of person to predict that the market will go sideways for 2 years, so when that happens they'll be really waiting
I hope you’re trolling… If not then good we don’t need someone like that in the medical field..
Wish I was.
Came here to say the same. Thank fuck he's not applying his star sign shit to saving lives
Sounds like he's having break down tbh. How's his mental health seem? Was he struggling?
No hes smarter than me. Hes 6 years older. Has 7 years experience as a flight medic in the air force. That being said his mental health is shit.
Medics are people fresh out of highschool that are trained by the military. They perform like nurses, occasionally like doctors (in combat) but their training does not transfer to the civilian world. Here's an example:
As a nurse invested in crypto, I second this 🤣. Man is going to wish to find the nearest black hole if he only had a year left of nursing school.
My thoughts exactly. No need for health specialists who are this far from the most basic scientific thinking.
I mean... this makes as much sense as other methods of prediction that I have seen.
this is the shit that ends up working
People believe in fundamental, some believe in chart, no shit, maybe astrology and trading has merit, for example, on full moon, some people can experience more energy and start hitting buy or sell button more than often.
Sounds like he's having some kind of mental health episode. Is he bipolar? Maybe he found our Lord and Savior, crystal meth.
Still, that way he will lose less money than he would on tuition fees
Nope. College was free.99 for him. 7 years in airforce.
I would be curious to see how he fares in comparison to someone who uses technical analysis. Somehow I expect similar results.
I can almost see the account performance chart making that slow but steady march down to $0.00.
Then you don't have time for the stars lol
Wait you guys don’t use astrology when you trade?
I also use astrology daily to guide my crypto investments. Everyday for the last decade the celestial bodies told me to buy more.
This is great! He should publish crypto horoscopes for different zodiac signs 😸
Tombe fair, Astrology has shown similar results as TA.
Today is a full moon and the market is crashing. Mere coincidence?
Your friend isn’t wrong. See: https://twitter.com/marenaltman?s=21
I literally walked out of my masters program on my 3rd day cuz i realized i was going to be a successful trader and am now semi retired 5 years later.
this sounds like the behavior of someone who is in, or on the verge of, a mental health crisis.
The last hundred years of scientific inquiry would lead me to conclude it's your friend who is crazy.
Why would he need to drop out? Just make a few correct "to the cent" guesses using leverage, and drop out after you have your first few million. Why is he in such a hurry? Forget the astrology aspect. Why is he doing it now? Why the hurry? Is he failing classes? If he's really your friend, you'll try to stop him from this suicide mission. Are you really so out of touch with reality that you can't convince someone that astrology is fucking retarded? what are they teaching in nursing school?
You must be young. Trying to save stupid people is very stupid.
These people must be treated like children. Slow explanations and lots of patience
Yeah that works well. Go spend some time in /r/conspiracy trying to talk people out of the dumbest shit you've ever seen. They just dig in harder.
Well... Playing devil's advocate here. There is something strange I saw... Maybe it was the weed... Maybe the lcd... Idk.. but I did see a chart that correlated with waxing and wanning of the moon's. The macro bottoms lined up with the full moons, and tops lined with the new moons. Might have it backwards... But I'm thinking that's enough for me to quit my day job and go all in. 20x on Shiba. Who's with me?
This is what hes talking about. Something very similar
I also like to lcd
I get high on OLED.
Oldschool CRT will take you to new heights
Actually take a look at the moon cycles specifically full moon/new moon and the price of Bitcoin on the charts. Make you question what you question really quick.
Probably a self-fulfilling prophecy by Asian buyers or Pagans or something, nothing weird.
Maybe astronomy. Full moon peaks.
He has about a good a chance as any other day trader. Maybe better.
1) Everyone is crazy, just different flavors
2) Your friend is doing drugs and needs help.
Was a full moon last night, and the market crashed today.
I think he's possibly on to something.
Maybe advise them to also start a youtube channel to document the journey. Need to diversify and get into the content game to have a fallback plan if the market tanks. I am pretty sure loads of people would find this entertaining.
Ironically he's stumbled upon the only sure bet in crypto, which is: bet against this guy.
Well tbf this is just as effective as what most day traders with no formal training do.
We all do a little bit of astrology ourselves in another form lol
put him on suicide watch
I’ve seen this on several accredited TA channels now that the charts follow the moon cycles. It sounds completely nuts but the charts correlate. My friend is a nurse and she says the ER is full moon is the busiest.
Something similar to this then I assume
J.P. Morgan once famously said that millionaires don't need astrologers, but billionaires do. ... J.P. Morgan thought there was more to the market than timing, and he used astrologers to help guide him in that timing in his businesses and investments. He's not alone.
This "model" wasn't exactly working Jun, July, and Sept.
Imagine if he lucks out on being part of some pump and dump. Dude would declare he's a messiah the next day and then start a sex cult.
He really would. This is him
Well, I quit my job to day trade myself, because I believed I could predict the movement of gamestop price charts based on tracking reddit shitposts. Now, 10 months later, I am debt free, car paid off, and I make about 200 bucks a day in a couple hours, with a decent sized bag of savings.
So...don't knock it till you try it.
At least he got a methodology and he isn’t just FOMOing, that’s still better than some on YouTube.
At least his ramen will be salted by tears.
"Am I the crazy one?"
Yes, you're crazy for thinking you even need to ask that question.
he can complete his last year of nursing to use his income to increase capital and day trade with huge amounts in the future.
Yeah, don’t lend him any money OP
Convince your friend that he can complete his last year of nursing to use his income to increase capital and day trade with huge amounts in the future. Meanwhile he can practice with his current capital for 1-2 years, until he grows out of the astrology phase.
That kind of stuff can work, but only if you are objective about it and also not being selfish. The universe is a simulation anyway, that's why reality is better than fiction. But you have to be evolving in the right direction
Mars is bright tonight…
How did his past trades go?
He insists its working out for him. I insist not for long
Crazy is who crazy does.
dude sounds like a fucking genius...send me his picks.
Bless him. RIP Chase’s friend.
Lol ur fren is an idiot. Did he predict the bloodbath today? I highly doubt it.
To be fair, his chances of doing well in trading are probably about the same as his chances of going broke if we're purely talking about the method for making buy/sell decisions, assuming he follows whatever random method he's come up with without any emotional involvement.
How he manages whatever amount of money that he has is far more important. People who only buy and hodl will still have to sell at bad times if they don't manage their money for day to day necessities or servicing debts etc. correctly.
Whether you try to predict the charts with astrology or how many times your cat shat on your keyboard the result will always be the same
..until it doesn't
*Proceeds to change model*
Good you are a nurse and can support him with his mental health and your sats.
Everything works in a bull market. However, you have to know when to sell. Ah, that’s the rub. 10% stop orders are great. Using them for 60 years. Missed every crash. Made much 💰💰
Especially AXSM in 2019. Went from 2-120
Stopped out at $112. Bought house in bora bora.
Sleeping 💤 now. LLAP
Lol what do his parents say about it?
Can't make this shit up, I actually do know a professional trader that uses astrology and jesuit religion in their trades. Good for him, he got in early when BTC was only 4 figures and everyone is a genious in a bull market but really, c'mon man.
A cat on a bingo board has out performed “professionally” managed funds so it’s hard to weigh in on this one from a finance side.
From a health care standpoint probably for the best?
You’re the crazy one for thinking you’re the crazy one.
To be fair your friend had as much of a chance at predicting charts than anyone else using technical analysis or some other voodoo shit.
This problem will solve itself real quick. I wouldn’t worry about it.
You, on the other hand, need to take a serious look at the people you hang out with.
More likely his grades are in the toilet, doesn't want to admit he's going to be kicked so he's playing the clown card.
You'd be surprised what lies ppl will tell thinking they're saving face when really the BS is 10x more outrageous and embarrassing.
maybe he can. Who are we to say?
How about in 6 months you give us an update OP?
I can do that.
homeless in two months.
Here’s a way to potentially change his mind:
There’s a website called chartgames.com that lets you test you TA skills. The present you with a chart, but don’t show you the company or the date. The goal is to use standard TA indicators to beat a buy and hold strategy. This is the game that convinced me to buy and hold vs trying to trade. I had many long runs where I was winning, then a big vertical move would eventually come and flip things around.
Keep in mind that this game doesn’t take taxes into account and crypto has more large swings than the stock market. He’ll probably take larger losses in crypto than he would in this game. Hopefully your friend can play this for a while and learn that lesson for free. Maybe you should tell him you’re better than him at TA and challenge him to a competition?
Let him know watching dancing with the stars is not astrology.
This doesn’t surprise me on this thread at all. Every day I think I’m going to unsubscribe but wait to see what the next day holds. People putting ALL their money or all their children’s money into this just looks like every other pump and dump I’ve seen throughout my long life.
Predicting Bitcoin at all is impossible since there is literally zero transparency in who ultimately holds it or why it moves in either direction. This is utterly insane and is a perfect set up for big holders to remove wealth from small holders with no oversight.
At least astrology has been practiced for thousands of years, it makes as much sense as anything else I read on this sub every day. If he wasn’t doing this he’d be joining an MLM or getting his arm broken trying to count cards in Vegas. At least it’s his own money that he’s going to be losing.
You forgot the comedy tag.
I would say try to talk with him, but anyone this deep into stupidness will need stronger punch than words.
It might be better to fuck up one year of school and lose some money now, than do stupid shit like this later in life, when he has way more responsibility.
Just don't let him fuck up his future long term if you care about him.
Sounds like a mental break. I'd talk with this guy cause this is fucked if true