7 Things On My Mind In Crypto
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7 Things On My Mind In Crypto
1) A Quote From Nassim Taleb That I Liked
“Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.”
It made me tweet this:
Or if you see people tweet about certain coins, ask yourself if it's genuine or if you're just their exit liquidity.
Just some food for thought.
2) A Thought About A Trading Indicator
I'm sure this is an indicator/strategy already. I just don't know the name.
But let's say you watch the chart and are watching the candlesticks. From time to time there are god candles (green) and huge red candles. My thought was if there is a way to implement a strategy that measures the average candlestick length, and then you have an indicator that says when eg. a candlestick is 100-300% longer (both red/green), then you either buy/sell based on that. Maybe this is just foolish, but I've had some success reading tape (order book) + go short after huge god candles, and vice versa go long after a huge red candle. Maybe this is just price action watching really. Would love it if anyone have any thoughts on this? Of course, you have to combine it with the overall trend, but yeah. Just an idea. Ready to get roasted. I've used it on btc/eth because of the volatility/liquidity. If anyone knows a way to backtest this, feel free to DM me on Twitter or reply to this email.
3) People to follow on crypto Twitter
Wondering who to follow on crypto Twitter? Ignore sites like LunarCrush who recommends you Bitboy, The Moon Carl and MMCrypto.
Check out hive.one to look up the accounts that actually is popular among those who know crypto in the tweet below.
Personally, I try to get rid of the typical "influencer-stamp", but that's easier said than done.
Other than that, check out https://twitter.com/chad_follows
4) Why crypto won't disappear anytime soon
People love gambling. The whole online gambling/casino sector did increase its revenue ten-fold after Covid. Why? As GCR writes:
"I'm long humans being desperate, greedy, degenerate, lonely and trapped in the metaverse"
5) Why Stop Loss Is So Important
Just read this tweet over and over again until you understand it.
You should never underestimate how important it is to let your winners ride and cut your losses short.
6) Escaping The Known
I don't know why this tweet struck me because I have a good family, and great friends and life is in general very good to me. But sometimes you get this feeling of what if. What if you started all over again in a new location? Back home everyone knew you from the person you were. But we all change. The year I was studying away from my hometown was very relieving. It was a new start, and you had to experience things all over. I felt alive again. I just think it's important to not stagnate. Dare to take some risks in life. In most cases, you can always go back to what you had
7) A good beginner thread about trading
Just wanted to share this. A good, short read.
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