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TheModestThief🎩
@thief
After speaking to “normies”, I realised one of the biggest misconceptions is that there is no edge in trading (especially crypto) if you don’t have a $500k system coded in C or something. Trading is at least 50%, imo a lot >50%, psychological. Some people have traits that predisposes as better (or worse) traders. Knowing how to take a loss is imo the *number one* success trade. With a bit of experience, these people can know when not cut losses too quickly. But you can almost never teach people in the inverse sense.
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matthewb.eth
@matthewb
exactly, one of the great benefits (and opportunities) of crypto markets is that you can have an edge despite having a small book to start
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TheModestThief🎩
@thief
I think crypto is just still somehow inefficient enough for a person to make it work even in spot (or trickier but very possibly perpetuals) trading. No matter the trading style (investing or shorter term trading).
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matthewb.eth
@matthewb
totally agree, still inefficient and therefore always opportunity to be found I’ve been thinking of getting into perps lately, have only held spot for several years but follow markets pretty closely
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TheModestThief🎩
@thief
my advice would be: - get to know how funding works but not rely it too much as an indicator (e.g. funding is so negative so a short squeeze is imminent) - do *not* use too much leverage, can’t tell you how much to use cos I’m not you and you’re not me. For some people 2x is too much, others cruise on >5x.
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matthewb.eth
@matthewb
appreciate the advice, thank you! def not planning on using leverage
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