Ha! That's a lot of effort to pretend you are good at trading!

I think there should be a step in the guide for 'ramp the sh1t out of the coin you own' on any bulletin board you can find. oh wait, that's for the stock traders 😁

Nice info

>  Many seem to forget what happened to Mt. Gox and it is probably only a matter of time until the same thing happens to others

Sorry if the question is stupid but: can the same happen with our steem money here on steemit?

I don't know about 'young commodities' like cryptos, but I used to trade forex and metals and indices using technical analysis, and let me tell you there's no way to predict anything! I would also add that it's scientifically proven that you can't predict anything! Darts and rabbits routinely outperform the best trading companies and banks. The book [Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals](http://a.co/djOeHoT) does a pretty good job of proving the unpredictable/random nature of the markets. I've never tried fundamental analysis, but my studied opinion is you can only profit illegally (i.e. insider knowledge). The business is rife with scams like the ones you mentioned, and bots, and I don't think I ever met a successful trader who could prove his success story. The only people who trade are the mediators, the forex companies, etc. Last time I checked Australia was trying to file trading under games of chance. The only reason smart people - who would never otherwise gamble - get caught up into trading, is because of this idea that it's anything other than a game of chance.

Once I have the capacity to trade, I would probably buy some few coins of different sorts and store them elsewhere and just wait after 10 years or so and see if I made a few satoshis out of it. Btw, good read and thanks for sharing your experience...and the tips of being "supposedly" a good trader, cheers :)

Good post! thanks for sharing @acidyo

very interesting, Investment remains the best solution To succeed in the modern world

Your last part makes me think of the old-school method of making people think you're good at trading:
send e-mails to tens thousands of people, telling half of them stock X will go up, and the other half that stock X will go down. Repeat 5-10 times with different stocks, and in the end you get hundreds of people thinking you're some kind of genius and that will be ready to buy anything you tell them to buy.

Hahahah I love this post and that last part was hilarious!!
I dabbled into trading for awhile but I soon realized that it was very complex for me and I personally didn't want to invest all my time into mastering it since I wasn't really passionate about it.

It's crazy because if you go on Instagram, you will literally see hundreds or thousands of profiles with people claiming they are a superstar with trading but all it takes is a few good shots for a person to claim that they are a guru at it! @acidyo

You can look at every slack channel, every trading site and all the news around bitcoin but thats about 30 - 40% of it if you cant read Chinese or if you dont have access to the DarkWeb.  

Day trading is a madman's game having 1-2 exchanges may be okay but having alot of exchanges all up at the same time and all the charts Trust me ive had 3 moniters and 6 exchanges up at the same time and it was mental trying to get trads in at the right time. 

What is would do is buy and hold currencies that YOU BELIVE IN, do some research, you dont have to read the white paper on it just look yup some people on youtube that seem trust worthy, one person is use all the time is @boxmining . 

Always put aside money you are willing to lose and never put a cent more. and when you mare your returns, make a the call , do you stay in or leave. 

always remember there are those who cashed out bitcoin at 3000 and those at 300 . stay hungry

Awesome post. It's amazing how most of the first half of what you've posted is common sense, but yet the majority of people simply refuse to think about their actions for more than a second or practice any kind of self discipline.

Love the second half too. I wonder how many people on steemit will look at that and go: "Hey Bro! Stop stealing my methods!"

I don't to be honest coz i fear :(

sleep shedule is not only screwed, it is nothing for me because i wont even sleep haha. Great post btw. And glad steem is not 2 years anymore to release the coins.

Interesting article and good post @acidyo !I write very interesting post about my excursion in adult life! Looks please!
https://steemit.com/life/@bugavi/excursion-bugavi-in-adult-life-smoke-eyes-shoes-from-gucci-wolkswagen-car-and-modern-hairdo-let-s-go-with-me

I was into trading for a time, but I could not control stress and I`m usually pretty good at it, I think it`s because at the end there is too much uncertainty. And as far as I`ve seen some people get information before it goes public and those people make money, other from that it goes close to gambling but that is my opinion, I hope you guys make a good living out of it

Your "How to pretend you are good at trading!" is hilarious and spot on

The part about pretending to be a trader appealed to me in a small way, but I can't be bothered to try to fool anyone. I've looked at technical analysis before, but haven't seriously studied it. I just always have the feeling if I tried it I wouldn't recognize the "candlestick" or "cup and saucer" or "head and shoulders" that was forming and telling me to buy or sell or whatever. To me it looks like shapes in the clouds. But I haven't given it a serious effort, so I am not dismissing it. 

This is such wonderful insight I just had to share it. Great advice on keeping the coins offline and holding the private keys safe and not on an exchange. Mt Gox should not be forgotten as it is bound to happen again with such "honeypots" as they are referred to. I can easily see trading taking up someones time and thoughts and making them into a trading bot hermit. It can be taxing to have "real" sums of money on exchanges and into altcoins that you might not necessarily trust long term or even beyond the next few days. 

As of the last part of your post...  Hard work deciding who to trust in this space. If you decide to trust anyone at all that is. The blockchain is much easier to trust as you say.

Most people tend to forget that trading is actually a minus-sum game. Not considering trading fees, the exchanges are taking exorbitant deposit and withdrawel fees that are way higher and somewhat arbitrary to actual transaction fees. These fees are also making it hard to be a day trader.

What I'm taking away from this is that the last part of your write up is 100 percent serious and I'll take it as life advice until the day I die. Thanks Acid, I'm sure you won't let me down!

Very interesting the way you trade, have you ever tried to do an extrapolation? i made some but it's difficult to find the real equation

I have a real anti-talent for the game on the stock exchange. If I buy a token, it immediately starts to fall down. But if I sell, the price of the token increases sharply :)

Ha, fantastic post.

Hey acidyo,

Trading is risk management.  You create an edge by trading high probability setups, with high risk:reward ratios and you MANAGE YOUR RISK accordingly.

TRADING IS NOT GAMBLING.

Traders focus all their attention on their sexy new strategy and overlook the fundamental thing that makes you a good trader: Not blowing up when things go to shit.  And they will go to shit eventually.  It is how you manage that risk that will determine whether you're a successful trader.

This next section also really caught my eye:

>TA's are not completely useless, I have no clue about them in usual stock trading or other commodities, but in a young market such as cryptos and with its volatility day-traders do have a bigger impact on them than anywhere else.

Now I've seen this come up a few times around the crypto community and I'm really not sure I can get my head around it either...

Even in panic stricken markets based on fundamentals (think NFP releases, Brexit, Trump shock etc etc), they still trade in a technical manner.   Actually, a good example is the latest Bitcoin drop when markets were overpricing SegWit risk.  Zoom into your intraday BTC/USD charts and look at the way that price kept pulling back to intraday support turned resistance and dropped.  Markets always follow structure that can give you an edge no matter the market.

It doesn't matter how 'mature' the market is, how panicked the market is or how bullish/bearish the market is.  Technical structures play out because of supply/demand.

I encourage you to get back into swing trading (longer term trading the higher time frame charts) with a different mindset :)

So I split my initial portfolio in 3:
1. Long term holdings. These are coins that I absolutely believe in long term and look to accumulate over time. Any profits achieved via 2 and 3 will be stored in these.
2. Medium term bets. Here I look to buy a few different coins that I think are currently undervalued and are much more likely to have a significant rise than an equally large fall. Usually coins that I think solve an interesting problem, or can provide a new platform technology to improve the capabilities of a big market (like LBRY for books and vieos, and BAT for marketing).
3. Liquid funds for day/minute trading to take advantage of short term pumps and dumps. When I started out with cryptos in the bull period starting early June, 100% of my "funds" were allocated here. The goal was simple: Identify the coin that could provide a 5% gain in as little time as possible. Establish a handful of "simple rules" for selecting the right time to buy, so as to maximise the likelihood of achieving that, and then having the discipline to always sell at 5%. The result was a tripling of the initial investment after 25 days.

Looking to get more accustomed to this new world, and increase my shares as much as possible in long term coins like STEEM :)

Hey buddy ,thanks for this helpful stuff. Respect. 420 😎

Why would anyone brag about their trades anyways. Be happy about what you made or loat and don't give to much information to the bad bad hacking people out there waiting to get you. :P