I have made some changes to my crypto strategy. The primary changes are the alts that I view as investment vehicles versus trading vehicles only. In the past it was primarily market cap based, but now I am going into more research and really looking at the tech behind the coins. The second major change is that I am now utilizing stops on BTC as, in my view, that market is reaching some extreme parabolic levels. It may not crash anytime soon, but if/when it does those without stops will be in for a very bad time. Another thing I want to do is try to get into more detail of a few trades that I have made and my thought processes behind them in order to make this more of a stand alone guide instead of people having to go through my stock trading guide.
If you want to see the old post it is here, but this is the best reference for my current strategy. Like all of my strategies I do iterate as needed. I don’t iterate just for the sake of iteration, but when it makes sense to I absolutely will.
I recommend newer traders, or traders with a smaller account balance to strongly consider trading Cryptocurrencies. The volatility is off the charts. Volatility equals potential. If you can be a winning trader here, you can do much better here than in equities. You can much more quickly grow your account in Crypto.
These markets have a lot of amateurs and not a lot of professionals. This equals opportunity if you are serious.
There are risks. High volatility does equal high risk. The exchanges have had many issues in the past with hacking, downtime, etc. I find these markets to be somewhat like a high tech version of Jesse Livermore’s bucket shops, if you have ever read Reminiscences of a Stock Operator.
Please do your research before jumping into this.
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