For anyone who is new to #crypto:
That shakeout/correction/retracement we just had, is a normal part of the market. Despite what influencers on CT might say, no one can predict exactly when it will happen. We will resume #uponly again. But the dump might not even be over.
This is why risk management is so important. If you're using a trading platform, set Stop Losses. Make sure your Margin Fraction isn't too close to your Maintenance Margin Requirement. Don't use leverage if you don't know how to protect yourself.
Also emotional management is super important. Maybe more important. It's your emotions that will get you, making you buy in as something is crashing, hoping to catch the bottom. Or refusing to sell at the top because you want it to go up more.
The winning traders in this space aren't affected emotionally when a dump like this happens. How did you feel just then, watching your portfolio diminish? #Crypto markets are volatile. That means you can make a lot of money. And you can lose a lot of money.

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More from @saladpingers

11 May
How to trade Futures on @FTX_Official (not financial advice, obvs)

I only learned about futures a year ago. There are dangers to be aware of, but they're a great way to leverage your capital and multiply your earning potential.

I'mma run you through "buying" some...

I've got a few subaccounts on FTX. Highly recommend you do this, because each one is isolated. If you mess up and lose it all in one subaccount, the rest aren't impacted.

In this account I've got some $ETH and some USD.
You will need something there as collateral.

In Settings, then Margin, you can see what is accepted as collateral. My understanding is that the USD in my subaccount is a stablecoin, not FIAT. So it counts, along with the $ETH. Someone correct me if I'm wrong pls.

You might want your collateral to be non-volatile...
Read 25 tweets
10 May
Exponential Growth: a short thread with pictures

Physicist Albert Allen Bartlett said, referring to overpopulation, "The greatest shortcoming of the human race is our inability to understand the exponential function."

It's also the shortcoming of a #crypto trader atm.
So we all saw $ETC's face melting run recently. Look at this disgusting chart. Obviously #cryptocurrencies are all scams, and nothing means anything anymore right?
But have a look at it on Log scale. Log is an exponential scale (same distance between 1 and 10 as it is between 10 and 100).

If crypto follows an adoption cycle, follows Metcalfe's law, then we should expect exponential growth.

This chart looks normal, right?
Read 10 tweets
9 May
I reckon we've got a few months left of this cycle. I believe it's going to top out around September. Based on Stock to Flow. Whether Stock to Flow is correct or not, it is a meme, so will be manifested by traders who are setting bids/asks based on it, etc.
I think in the nearterm, a rising tide can lift all boats. BTC can keep rising. That means hodlers and good traders have profits to deploy to alts. It also means more and more normies enter and go, "Oh BTC is way too expensive now. What's cheap?". That can drive alts up too.
I also think alts can have big drawbacks and the setups would still be in tact/healthy. ETC was vertical. I don't know if the others will be. Here's LTC making its way up. It's messy, but see the red highlighter over those retracements? The alts could do this while BTC flies.
Read 6 tweets
7 May
That was close 😯 Image
What would you do?

#doge Image
The answer was #hodl #doge Image
Read 4 tweets
7 May
Who else was looking at $etc before it broke 2017 ATHs?

Give me a retweet and a follow if you'd be so kind, so I can share my charts and thoughts with more people :)

#etc #altseason #btc #trading
@Zen_Trades1 see this?
Read 5 tweets

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