It seems like trading competently in crypto requires some degree of proficiency across multiple fields
I mean, that helps, but you don’t need all of that to make money. Risk management, an edge, and, you know, a funded account, should suffice.
What mistakes have you made?
I made the mistake of selling most of the Bitcoins I was mining at $13 to pay electricity costs. They’re worth like $60k now. Paper hands. Exit strategy matters. When you’re tempted to sell, maybe buy insurance instead. I then made the mistake of trying to scalp trade Bitcoins on Mt. Gox. Not your keys, not your coins.
what should I be investing in at the moment?
Totally not financial advice, but I have a lot of Ether right now ;)
Also, have you considered non-crypto investments? Diversification is helpful.
Can anyone suggest quality educational resources for getting started?
Start here. Not specific to crypto, and the presentation quality is disputed, but I stand by the principles.
Any other advice, hacks, and pro-tips that may occur to you would be very much appreciated as well.
Also research Nassim Taleb’s Barbell. It’s a good approach for speculation.
Thanks for the resources. I’ll check them out. I really appreciate it.
I have some small money in a Coinbase account and it’s tied up in MANA and SHIBA INU. I can’t gauge whether or not this was a mistake at this point, as both are fluctuating by the second as expected, and it seems when one plummets, the other rises and vice versa. But it’s not enough money to hurt anyway.
I’ve been considering Ether. How confident are you that it isn’t already too late to invest in it? Or do you think it is, at this point, too late?
Ether. How confident are you that it isn’t already too late to invest in it?
Now is the time of the Stacking*, when the proof of the stake will release the power of the Flippening*. In the end, Ether can be number one.
Ether reached current levels in part due to the recent merge of fee burning. It could easily hit $20k by the end of next year. Squish Chaos makes a compelling case that it could briefly hit $150k or more after illiquidity caused by fee burning and the Triple Halving* due to The Merge of the proof of stake mechanism and likely simultaneous high demand from self-sustaining narrative, upcoming easier access, and expected high yield.
So, no, not too late.
How confident am I? About 15% of my portfolio. I was aiming for a bit less than that, but it’s grown since I started. Epistemic status: I’m mostly aping* Squish here, so take my confidence level with a grain of salt. He could be wrong. Partially or totally. Squish says it’s 90% of his portfolio though. Ether is extremely volatile, like most crypto: 90% drawdowns have happened in before. That’s the size of the risk you’re taking. Barbell strategy.
There are probably altcoins* with the potential to grow by greater factors, just because you’d be getting in earlier, when they’re still small and have more room to grow before slowing from high–market cap limits. The question is, “Which ones?” Shitcoins* quite frequently rug pull* or implode.
I mean, that helps, but you don’t need all of that to make money. Risk management, an edge, and, you know, a funded account, should suffice.
I made the mistake of selling most of the Bitcoins I was mining at $13 to pay electricity costs. They’re worth like $60k now. Paper hands. Exit strategy matters. When you’re tempted to sell, maybe buy insurance instead. I then made the mistake of trying to scalp trade Bitcoins on Mt. Gox. Not your keys, not your coins.
Totally not financial advice, but I have a lot of Ether right now ;) Also, have you considered non-crypto investments? Diversification is helpful.
Start here. Not specific to crypto, and the presentation quality is disputed, but I stand by the principles.
Also research Nassim Taleb’s Barbell. It’s a good approach for speculation.
Thanks for the resources. I’ll check them out. I really appreciate it.
I have some small money in a Coinbase account and it’s tied up in MANA and SHIBA INU. I can’t gauge whether or not this was a mistake at this point, as both are fluctuating by the second as expected, and it seems when one plummets, the other rises and vice versa. But it’s not enough money to hurt anyway.
I’ve been considering Ether. How confident are you that it isn’t already too late to invest in it? Or do you think it is, at this point, too late?
What is scalp trading?
https://www.investopedia.com/terms/s/scalping.asp
Now is the time of the Stacking*, when the proof of the stake will release the power of the Flippening*. In the end, Ether can be number one.
Ether reached current levels in part due to the recent merge of fee burning. It could easily hit $20k by the end of next year. Squish Chaos makes a compelling case that it could briefly hit $150k or more after illiquidity caused by fee burning and the Triple Halving* due to The Merge of the proof of stake mechanism and likely simultaneous high demand from self-sustaining narrative, upcoming easier access, and expected high yield.
So, no, not too late.
How confident am I? About 15% of my portfolio. I was aiming for a bit less than that, but it’s grown since I started. Epistemic status: I’m mostly aping* Squish here, so take my confidence level with a grain of salt. He could be wrong. Partially or totally. Squish says it’s 90% of his portfolio though. Ether is extremely volatile, like most crypto: 90% drawdowns have happened in before. That’s the size of the risk you’re taking. Barbell strategy.
There are probably altcoins* with the potential to grow by greater factors, just because you’d be getting in earlier, when they’re still small and have more room to grow before slowing from high–market cap limits. The question is, “Which ones?” Shitcoins* quite frequently rug pull* or implode.
*Crypto slang. (If it’s not in there, Google it.)