Topic: Can I gain an edge in crypto trading? - page 2. (Read 930 times)
You seems to know a lot already and you can easily apply them when you do cryptocurrency trading. Trading entails some form of discipline and without it it can really be a mess and making nice profit can be near impossible. I guess that you know what you are talking about. I am wishing you all the luck that you need in case you would really go and venture in cryptocurrency trading.
I think that all those things that you mention (news, understanding graphs and all) are important. As many people are guided by them, you can somehow predict tendences by knowing how people usually react to those signals.
However, I think you can get an edge somehow being vigilant of just the trading history everyday. When you see a lot of "sells" coming in, you know that thing is likely to continue selling for a while. Same thing when you see a lot of "buys".
Seems to simple, but it's so true. At the very least the buys indicate that if you buy now, you (very probably) would be able to see 1% higher, doing some profit.
However, I think you can get an edge somehow being vigilant of just the trading history everyday. When you see a lot of "sells" coming in, you know that thing is likely to continue selling for a while. Same thing when you see a lot of "buys".
Seems to simple, but it's so true. At the very least the buys indicate that if you buy now, you (very probably) would be able to see 1% higher, doing some profit.
Hi all,
I'm new to the crypto space. I played professional poker for the past many years and thinking about trying out trading cryptos. However, I am skeptical from a game theoretic point of view as to whether I can gain an edge.
In poker part of your edge comes from knowing who your opponents are. With that information you can select your opposition to a certain degree, thereby increasing your edge. In the world of trading this is not really possible. I guess maybe some exchanges will have softer competition than others but you don't know exactly who you're trading with (amateurs or pros).
From what I understand the main skills needed is to predict trends and understand the potential of the new technologies popping up. On a micro-level that would translate to:
a) Being first at receiving market news and understanding how they will affect certain coins and the market as a whole.
b) Understanding market dynamics including being able to use a variety of charts to identify possible patterns.
c) Have a technical understanding of the technologies behind the different coins and thereby being able to estimate their potential.
1) Am I missing some?
2) How would you weigh these skill sets?
3) Is it possible to gain an edge without much technical knowledge?
4) Someone told me around 1 in 10 traders are able to beat the market. Not sure where he has the number from though or if was on the stock or crypto market. Has anyone heard a similar or different number?
Lastly if anyone can link to previous best threads on:
- Best books for learning trading.
- Trading strategies in general
Sorry if this post comes off messy. I still have a bunch of questions but I'm gonna cut it short here and save the rest for a different post.
I'm new to the crypto space. I played professional poker for the past many years and thinking about trying out trading cryptos. However, I am skeptical from a game theoretic point of view as to whether I can gain an edge.
In poker part of your edge comes from knowing who your opponents are. With that information you can select your opposition to a certain degree, thereby increasing your edge. In the world of trading this is not really possible. I guess maybe some exchanges will have softer competition than others but you don't know exactly who you're trading with (amateurs or pros).
From what I understand the main skills needed is to predict trends and understand the potential of the new technologies popping up. On a micro-level that would translate to:
a) Being first at receiving market news and understanding how they will affect certain coins and the market as a whole.
b) Understanding market dynamics including being able to use a variety of charts to identify possible patterns.
c) Have a technical understanding of the technologies behind the different coins and thereby being able to estimate their potential.
1) Am I missing some?
2) How would you weigh these skill sets?
3) Is it possible to gain an edge without much technical knowledge?
4) Someone told me around 1 in 10 traders are able to beat the market. Not sure where he has the number from though or if was on the stock or crypto market. Has anyone heard a similar or different number?
Lastly if anyone can link to previous best threads on:
- Best books for learning trading.
- Trading strategies in general
Sorry if this post comes off messy. I still have a bunch of questions but I'm gonna cut it short here and save the rest for a different post.
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