Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word?

This is a discussion on Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word? within the Cryptocurrencies forums, part of the Markets category; Hi Folks! New to T2W community... Just doing some recon before I put anyone/everyone's nose out of joint. I'm very ...

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Old Jul 29, 2017, 2:26pm   #1
 
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Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word?

Hi Folks!

New to T2W community... Just doing some recon before I put anyone/everyone's nose out of joint.

I'm very keen on discussing the cryptocurrency markets, on a technical and fundamental analysis basis, with traders that have a knowledge of the broader market.

Before I waste anyone's time I was just checking to see what the appetite for crypto trading was on this forum
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Old Jul 29, 2017, 7:53pm   #2
 
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Hi there, personally form me, I am not into fundamental analysis which shows pretty much all crypto in one big bubble. TA and day trading I cannot comment, since I am not doing it, but broadly in terms of systematic and algo trading I am not interested, because the volume is low and I cannot trust the exchanges and the brokers, every other day there is a hack or scam involving crypto...
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"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Jul 29, 2017, 8:48pm   #3
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Those pyramid schemes are more suited to script kiddies fighting over bits, bytes and gpu's. A programming forum might work better for that. People into financial markets are more into fighting big sharks. The levels of excitement are just not comparable.
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Old Jul 29, 2017, 8:59pm   #4
 
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Goldman Sachs are bullish on their positions.
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Don't just stare at intraday volatility....... EAT IT!
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Old Jul 29, 2017, 10:47pm   #5
 
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ShiftingSands started this thread OK people I get the broad sentiment of what you're saying...

However, who can turn down the gains made in a such a volatile environment (and they are significant)?

Spreads of 0.15% I can handle, with average swings of 20% every 24 hours.. Not too bad of a deal in my open book.

Investment wise (long term) I have had jaded experiences of late, but that's only cause I stopped making on average of 200% a month on long trades.

Spot trade wise it's still viable, from what I'm reading here algo trading isn't a popular subject, but there are some bots that can help, more signal predictor stuff as opposed to full algo trading... I understand that due to the lower overall market volumes that HFT has not truly kicked off in the crypto space, but I like having a dabble with stuff.

In a sense, with what are termed to be the 'Altcoins' I can't say I truly believe in each and every release, as they are not mature enough and have not been tested transaction wise, but I still like a punt for sport.

Spot trading wise I like this approach to crypto:

http://alts-club.com/docs/learn-how-...oin-trader.php

Investment wise, i go back to the white papers for Bitcoin, Ethereum and go out to the blockchain meet ups in my area to get a top to bottom view of the tech and it's potential.

No point investing in something you don't understand right?

But I think emotion can be removed from spot trading as it's more a time series analysis game...

Real reason I came on this forum however is to get deeper knowledge of market analysis from those that are not blinkered to crypto.

The recent spate of ICOs for example have tarnished the reputation of blockchain and have brought in a sway of blind investment (plus some nice levels of volatility)... So I'm here to get some angles outwith the blockchain/crypto space

Thoughts?
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Old Jul 29, 2017, 11:08pm   #6
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Quote:
Originally Posted by ShiftingSands View Post
No point investing in something you don't understand right?
I am geek. I can understand it if I really want to. But I don't. It just feels too kiddie stuff. It will remain so until banks start using the stuff. When they do, they will use their own cryptocurrency, which will make the exiting ones worthless.

In terms complexity, nothing gets more complex than financial markets, at least on the surface. Took 7 years for me to break through to the real goodies. That's 2 PhD worth of effort.

It's not about understand, rather about if it's worth understanding.
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Old Jul 29, 2017, 11:14pm   #7
 
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Quote:
Originally Posted by EnlightenedJoe View Post
I am geek. I can understand it if I really want to. But I don't. It just feels too kiddie stuff. It will remain so until banks start using the stuff. When they do, they will use their own cryptocurrency, which will make the exiting ones worthless.

In terms complexity, nothing gets more complex than financial markets, at least on the surface. Took 7 years for me to break through to the real goodies. That's 2 PhD worth of effort.

It's not about understand, rather about if it's worth understanding.
Amen brother! This is exactly how I feel, maybe one day when it goes mainstream we can trade it for sure, but in the mean time, it's not worth the effort for me as well...
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Jul 29, 2017, 11:16pm   #8
 
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ShiftingSands started this thread
Quote:
Originally Posted by EnlightenedJoe View Post
I am geek. I can understand it if I really want to. But I don't. It just feels too kiddie stuff. It will remain so until banks start using the stuff. When they do, they will use their own cryptocurrency, which will make the exiting one worthless.

In terms complexity, nothing get more complex than financial markets, at least on the surface. Took 7 years for me to break through to the real goodies. That's 2 PhD worth of effort.

It's not about understand, rather about if it's worth understanding.
I see what you're saying, however the majority of major banks have signed up to blockchain in some capacity or other... Deloittes for example have produced reports on the main players and their skin in the game.

Main problem at the moment is the network capacity, user base has outgrown the infrastructure and that's why there's a major change in bitcoin protocol being released on August 1st to enhance performance, but there's already ATMs in place and a lot of businesses already accept crypto payments. The tech is there, fledgling, but still working and scaling up
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