Reasons why you should NOT trade cryptocurrencies

BluePanther posted:
Cryptocurrency executive dies; takes access codes with him (4 Feb, 2019)
https://www.investmentnews.com/article/20190204/FREE/190209982/cryptocurrency-executive-dies-takes-access-codes-with-him

Crashzx posted:
If you only buy bitcoin you're miles ahead of anyone else

BluePanther posted:

Crashzx posted:
If you only buy bitcoin you're miles ahead of anyone else

Miles ahead? You mean to lose everything? You don't have to buy BTC to do that.

CRPA9 posted:
What makes you think you will lose everything buying BTC? Especially at these prices.

Treeny posted:
You just need to adjust your strategy to trade cryptos. It's doable alright

GermanyFX posted:
its too volatile for leveraged and small accounts.

FaridAnwer posted:

GermanyFX posted:
its too volatile for leveraged and small accounts.

Most broker don't have leverage for crypto now any more anyway. I worry that current volatility on crypto is low and many trader will start trading with large lots but when volatility spikes again they will lose all their money

Magelaus posted:
Unfortunately, I do not understand cryptocurrency. Although I read the article here https://bitcoinbestbuy.com/bitcoin-mining-guide/ . I plan to start mining, even if it sounds very difficult. I want to try :D

volumemaster posted:
No need for leverage on crypto, the market quite volatile, leverage can kill your account for sure

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JesusSaves posted:

Magelaus posted:
Unfortunately, I do not understand cryptocurrency. Although I read the article here https://bitcoinbestbuy.com/bitcoin-mining-guide/ . I plan to start mining, even if it sounds very difficult. I want to try :D

Love it. Just like everyone else. You don't understand crypto but because of one article you decide that it is worth investing in. Madness!

psnowfox posted:

volumemaster posted:
No need for leverage on crypto, the market quite volatile, leverage can kill your account for sure

Absolutely agree, no need to leverage on crypto.

Somethings I learnt over 3 years trading on crypto:

- Don't use any broker that offer crypto CFD because their spread is crazy (sometimes 1-2%), just trade with own money in exchange like Bitfinex, Binance.

- Truth be told, I gave up predict the trend of crypto since early 2018, instead, in such volatile market, you can make money without predicting the trend of market. Use mathematics, you will find crazy unreasonable volatility in market that you can take advantages by some simple statistical arbitrage strategy.

- One more thing, understand Value at Risk (VAR) theory is critical when you trade in any bubble market like crypto.

ATB,
have fun trading

LeBuffon posted:

I am really interested in your idea of using statistical averages. Could you please explain a bit more about how you do this? Do you think it would work with Forex because I mainly trade Forex not crypto