Trading Crypto?
Work in finance, but not on trading side. Anyone have any strategies? Been holding since earlier this year, but it’s boring AF and seeing so much price action it can’t be hard to trade? Does anyone have any thoughts? Thanks
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I would start out trading Bitcoin, because it's predictable. And once you can trade Bitcoin and get a positive expected return, move onto alt-coins, which are a lot more volatile. Learn technical analysis and how to read candlesticks, as this is pretty important to doing well.
Coming from value investing, technical analysis seems like all fluff and smoke, but I guess theres some truth to it? May just look into it if its $$$, the vol is ridiculous in crypto, I just feel like its the goldrush of our time.
So crypto trades based on fundamental analysis, perception and news of announcements that indicate value, in my opinion way more than the stock market does, even from day to day. It's almost ridiculous that some random, unjustified rumor out of nowhere can actually have a noticeable impact on the price of these things. And so, from a week to week, month to month, even day to day time frame, I think you'll make the most money from thinking about it like value investing.
However, if you're trying to make money during the day from a timespan of 5m, 15m, 30m, even 1 hour -- technical analysis will be useful. And a lot of times, technical analysis confirms what I already know or believe to be true on a fundamental level, and so it makes me more assured in my investing. That's just my $0.02.
I've been thinking about this as well, but more automated trading. You can get historical prices using exchange APIs and try and backtest a couple strategies. I don't think people are willing to share strategies that are still working though.
almost everyone who messes with crypto has no idea how it works. that's a mistake imo
Man, I've really always hated BTC. I really just want to buy a couple, and open my wallet in one year to 1000% gains
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