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David Holt Profile picture
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4 Nov, 4 tweets, 1 min read
I know it's 4am but I don't know what a schedule is so here's an article about market-making

gives a very general overview of how it works, very basic strategy and how to think about it

does not cover implementation (aka, coding a bot)

idrawcharts.medium.com/how-market-mak…
there's a ton of stuff I didn't mention or talk about (might do a part 2 later) but this kinda gives a very elementary example of thinking from a MM's perspective
ok yeah I'm already writing the second article lol, which will be more focused on how to actually get started doing it
Part two!

First one was easy reading and aimed at curious folk, this one gets a bit messy

Please let me know what y'all think
idrawcharts.medium.com/market-making-…

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David Holt Profile picture
4 Nov
this is a shot at chamath lmao

but also highlights importance of trade conviction and sizing

common advice is to gradually scale out of winners, but if you're early in something and it's starting to prove that it'll deliver?

double down dude
obviously VC and PE work a little differently than slinging shitcoins

but for those of us doing the latter, we have the ability to throw tiny amounts of money at a ridiculous number of projects very early

if they fail, so what, it was tiny. But the ones that start to succeed...
...usually have a greater chance of continuing to do so

a coin that is up 100% in 2 months is much more likely to be up another 100% in the next two months than a coin that hasn't moved at all.

it's counterintuitive, but it's true
Read 6 tweets
David Holt Profile picture
4 Nov
yo @SBF_FTX @FTX_Official random idea inspired by my twitter feed

what about like a panic button for account security

that lets users immediately hard-lock their account from all logins/changes/withdrawals on suspicion of unauthorized access until completely re-verified
@SBF_FTX @FTX_Official cuz like, I can freeze my debit card or bank account if compromised and those transactions can be reversed

I'd love to be able to freeze my trading accounts because those transactions cannot be reversed.

Having available via API endpoint would be nice also in case locked out
actually while I'm at it, somebody might also be able to build this for ETH wallets, in a way

like if you "accidentally" give your seed phrase away and start noticing the wallet getting drained

having an app/script to hook it to that'll automatically burn or reroute all ETH
Read 5 tweets
David Holt Profile picture
27 Oct
I can't really stress this enough, if your outlook on...

- how the broad crypto market behaves
-marketcycle patterns
-capital rotation motives
-who your counterparties are

...is the same as it was 2 years ago?

I think life here is going to get much, much harder soon
most of crypto is not going to trade like it used to for much longer

Think it's throwing some natives off

Less and less upside for alts bc VC capture while most non-corporate launches struggling to gain traction

That's just one example of new/different forces here to stay
market has sectors now which actually perform differently according to... not necessarily utility, but speculation on future utility potential

previously, narratives were for idiots and dumping on newbs (dentacoin?), now some narratives have merit
Read 9 tweets
David Holt Profile picture
27 Oct
if you catch 10 pumps

that each go 10x

w 10% of your portfolio at a time

you'll have made over 2000x on your total starting amount.

on $500, that's $1m.

on 10k, that's $20m.

shit REALLY adds up, there is no need to gamble or throw everything into one bag
I promise, you can make way more than you think w/o risking the house every time you take a swing
we've had defi and on-chain stuff popping 10x's for literally the last 2 years straight now

it's very doable

yeah, you'll eat some L's

but man, I can't think of a better opportunity for any ambitious young adult w a couple hundred bucks and an internet connection
Read 4 tweets
David Holt Profile picture
27 Oct
ok so I always talk about having a plan for *BEFORE* things happen

so lemme just talk you through the basics of what I'm thinking and planning rn

using this chart (I watch a lot of other stuff besides charts, but this will do for the example)
top grey line: previous ATH

indicator on the chart: volume profile for previous ATH distribution range. This is important.

the value area is marked by the second grey line and bottom red line

the value area mean that price was accepted into that range previously
how do we know it was accepted? because that's where most of the volume was. It's where market participants were willing to interact.

The green line is just the average price at which volume occurred during that range
Read 9 tweets
David Holt Profile picture
22 Sep
Need to explain crypto/defi terms to your grandma?

Here's a handy list of crypto-native terms with a 1-tweet ELI5 explainer for each.

Bookmark the thread and if you want something added, just ask!

1/n... oh God there's gonna be so many
Smart contract:

Think of it as a computer program that does one specific thing, and it's always running, just waiting for you to send some basic instructions.
dApp:

One or more smart contracts bundled together in the same place. They can be more complex than a single smart contract, but they usually have a user interface to help you send the right instructions to each smart contract
Read 13 tweets

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