The Cryptocurrency Trading Journal

[.sigma]

Brillant. Any trader or investor who is not into crypto it completely out of touch with the markets and should not be relied upon opinions, advice or anything else really. And that includes 'legends' of finance

This is where I’m currently at. Been trading options and stocks for a decade, and been holding off on crypto, but I’m starting to see the opportunities. This thread is a wealth of knowledge, thanks for the info.

 

[Daal]

This is where I’m currently at. Been trading options and stocks for a decade, and been holding off on crypto, but I’m starting to see the opportunities

At the very LEAST, one should hold stablecoins and try to find nice alt coin charts to buy and then use stops to manage risk. I know traders that do that successfully. Its a lot easier money than doing that in stocks, and when there is a bear market, there will be lots of shorts as well. Its a very inneficient market

But what will happen is that this skeptical trader will slowly and surely start to 'change their mind' about crypto. They will go from a stablecoin/stops maxi to a hodler, slowly but surely. Its just dangerous that this tends to happen as the market rises, so they will hold the max risk exposure at the top of the market. Which is the opposite of one someone should be doing. But it is funny how people tend to open their minds once they get involved

 

[NoahA]

At the very LEAST, one should hold stablecoins and try to find nice alt coin charts to buy and then use stops to manage risk.

What is the point of holding stablecoins if they move 1:1 with USD? Also, are you not taking into consideration that tether may very well blow up? The chance might be small, but its certainly more likely than winning the lottery. Holding 100k in tether is asking for trouble in my uneducated opinion.

Lastly, the amount of research on which alt coins to hold is staggering. Sure, there are a few in the past few months that have gone up 10x, but you practically have to be doing this full time like you in order to have any sense of what to do. Perhaps you can just spread out 10k across 5 or 10 of the most popular coins and like you say, use stops, and then wait to see which is a winner, but as for analyzing the technical merits of these coins, well, that is a daunting task and still mostly just a matter of personal opinion.

 

[Daal]

What is the point of holding stablecoins if they move 1:1 with USD? Also, are you not taking into consideration that tether may very well blow up? The chance might be small, but its certainly more likely than winning the lottery. Holding 100k in tether is asking for trouble in my uneducated opinion.

Lastly, the amount of research on which alt coins to hold is staggering. Sure, there are a few in the past few months that have gone up 10x, but you practically have to be doing this full time like you in order to have any sense of what to do. Perhaps you can just spread out 10k across 5 or 10 of the most popular coins and like you say, use stops, and then wait to see which is a winner, but as for analyzing the technical merits of these coins, well, that is a daunting task and still mostly just a matter of personal opinion.

There are plenty of people that swing trade stocks and dont do any homework on them, they look at the chart and think its going higher so they buy. In crypto, they go WAY higher and they give you clues when they wont, so its inefficient, its easy money
And stablecoins can be held in the meantime, when the trader cannot find those charts. And there are plenty of options other than USDT, as a matter of fact, exchanges like Kraken and FTX allow you to hold pure USD, I'm sure there are others as well.
There is simply no reason a serious trader would ignore crypto, those that do, do it because of ignorance, laziness, inner game issues, etc, etc. Its a source of alpha like any other market, except there is a lot more alpha here vs other places and if it ever goes into a giant parabolic move, well, sell, move to fiat and go back to stocks

 

[NoahA]

There are plenty of people that swing trade stocks and dont do any homework on them, they look at the chart and think its going higher so they buy. In crypto, they go WAY higher and they give you clues when they wont, so its inefficient, its easy money
And stablecoins can be held in the meantime, when the trader cannot find those charts. And there are plenty of options other than USDT, as a matter of fact, exchanges like Kraken and FTX allow you to hold pure USD, I'm sure there are others as well.
There is simply no reason a serious trader would ignore crypto, those that do, do it because of ignorance, laziness, inner game issues, etc, etc. Its a source of alpha like any other market, except there is a lot more alpha here vs other places and if it ever goes into a giant parabolic move, well, sell, move to fiat and go back to stocks

Gotcha, so the stablecoin is simply to not be in the market if your exchange won't let you hold USD. And it's true that you can just play with game via charts, but I figured the idea was to jump on the next BTC or ETH, or at least figure out the new best thing.

 

[.sigma]

@Daal whats some good crypto’s to swing in your opinion?

 

[Daal]

I dont know, I dont play this swing game, the real money is made by investing at a good price then riding until peak euphoria. But you might find some people that do that on twitter, I think Kunal Desai tends to follow a strategy like that, so I would start there

 

[Daal]

"A significant share of the capital flowing to Arbitrum also appears to have come from so-called ‘Ethereum killers’."

https://cointelegraph.com/news/arbitrum-s-tvl-surges-to-1-5b-as-defi-degens-ape-into-arbinyan

Easy come easy go

 

[Daal]

 

[Daal]

Apparently LTC will be accepted as payment at Walmart (assuming, its not fake news), I guess they mean online Walmart. In physical stores it wouldn't make any sense, but online its a decent choice. Credit card payments need 30-60 days to settle, LTC needs 10-20 minutes (most exchanges are fine with that much). Since preparing the shipping takes several hours, its a decent choice
But this choice reeks of amateurs at the top of Walmart making decisions, why not other coins as well? I guess its a trial but a very classic retail type of trial. LTC is such a retail coin
SOL is considered settled in seconds at most of the top exchanges. I think its a better choice than LTC, it can even be used for in person payments