What I’m really excited about however: is being able to run automated trading algorithms through an app and switch them up on the fly as the market conditions change.
business news network and market reaction to events can be unpredictable and extreme. This is why I spend so much time in chat rooms: for me they are the best way to get an idea of market reaction before it becomes a theme in the market.
AFTERNOON On average I probably spend about five hours a day watching the markets, looking for scoops I’ll be the first to admit I’m not an expert in and signals in the chatrooms I’m in, and trad- the finer points of TA, however there are a few ing my active positions. But there aren’t a lot indicators I always check such as the MACD of “average” days in crypto, so some days I & RSI. There are some chats where I reliably might spend 12 hours working, othfind good TA, or bounce my own er days it could be an hour or less. ideas off people who are well inThe more time I spend researching a formed. These are usually my first coin, and the less time I spend tradstops for TA research: one of them ing; the more profitable my trades is a paid group, but most of them usually are. I day trade conservaare free. I would say that most of tively, since I can’t fully research my strengths as a trader lie in anticThe more time I every project I buy short term. For ipating market psychology and pickspend researching my long term holds I’ll always look ing long term themes to build my at TA, market sentiment, and long- a coin, and the portfolio on. less time I spend term goals of a coin before decidThe themes around most of my retrading; the more ing to buy. cent trades are built around the core profitable my values of what cryptocurrency was trades usually are. My strategy both in crypto and in created to accomplish: private, fast, the stock market is to trade the and reliable transactions. Recentnews. For me this doesn’t mean ly I’ve been doing a couple swing chasing the movements caused by trades of coins like Verge or Stellar current events, but instead doing enough reLumen when they are volatile, and I try to acsearch before news happens so that when it fi- cumulate others such as Lite Coin, Monero, nally hits the markets all the action comes to or Zcoin whenever there is a dip. With recent where your positions already are. For exammarkets I might have been better off holdple: in the US stock markets over the last year, ing Verge long term, but I simply don’t like most of the trades I made were structured the odds of holding bags I bought after a more around the 2016 presidential election, and than 1000% rally for an extended period. the results of state ballot referendums. Some of those results were simple to predict, othAs the cryptocurrency space has grown expoers were not. However, with crypto there is no nentially larger in the last few months, I’ve
found that I spend more time researching and less time trading. There’s simply no way to cover everything that happens in a day that you want to know as a trader in this field. There’s just too much going on, and very little information is reliable or comprehensive. So ultimately, I have to spend time combing through three or four different platforms to get an idea of the market just for that day. Usually I spend a lot of time in chats trying to gauge market sentiment: figuring out what’s got people worried that day, what they’re excited about, what projects are they looking at and why are they watching them? If the information is time sensitive, I might do a quick search, look at the chart, and make a small trade. This market moves fast, so if the tip is hot and it looks like the volume is about to pick up I’ll throw up a small buy without doing more research. If I have time to dig deeper: I’ll try to research information I’ve gotten second hand for myself, then show it to others in my main chats and try to get a second read on whether I’ve found anything interesting. Many of the crypto groups on reddit, telegram, twitter, etc. aren’t very reliable. I was extremely lucky to get introduced to crypto by a former classmate who brought me into their group chat. By the time I joined they had already sifted through and found some real gems out of the sea of pump groups, trolls, and moon talk that is hard to escape in crypto. Having good people to talk to, bounce ideas off, and call you out when you’re wrong, are probably the most important parts of my success to this date. 65
D10e’s Mike Costache, Senero, Aragon,Ocean Protocol and many more...