Adrian Reid: Hi, Adrian Reid here for Enlightened Stock Trading, and today I can't tell you how excited I am, because I've got a special guest, and I'm speaking today with Peter Castle, who is a longtime trader and a really cool guy who focuses on... He's a systematic trader but also focuses on the psychological side of trading a lot more than what I do. So I'm keen to learn and keen to...
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The best way for most people to succeed in trading and crypto trading is to adopt a systematic approach. A systematic approach means you have absolute objective rules that tell you when to get in, how much to buy and when to get out. So if A and B, and C happen, you buy. If D or E happens, you sell. This is important for a couple of reasons. The first one is when you have objective rules that...
Volatility is a big one. If you took the S&P 500 index and we've got decades of history, you compress that by about seven because the cycles are much quicker in crypto, and we go through bulls and bears like they're going out of fashion. Thus, you take the S&P and compress it by a factor of seven so that the cycles happen more quickly. Then you take it and stretch it to make the cycles...
Unless you are a systematic trader, the answer is mostly going to be my investment thesis is probably pretty shaky if you're truly honest with yourself. If you've just bought Bitcoin and you're a Bitcoin believer and holding forever, maybe that's a little different. However, if you're going to do that, you've got to be ready for your account to swing by 60-70% down before it continues up, and...
Stock and Crypto traders lose money for a whole bunch of reasons. In crypto, one of the biggest things is we don't know who the winners are yet. There have been some winners to date. However, if you buy a selection of coins or tokens, most of them will probably be worthless if you hold them forever. If you also purchased a bunch of new coins in 2017 when there was a big flurry of activity on the...
There are a couple of things that will undoubtedly change. The first one is that more institutional money will come in, which means very different styles of participants. Right now, many participants are people on their iPhones with $1000 in their account going with leverage, creating a specific market price behaviour. But if you bring in institutional fund managers, hedge funds with tens of...
There's a whole range of reasons. First, there's a huge profit opportunity for informed traders if you look at what the market participants are doing. Masses of uninformed and completely new traders who have never traded anything before are flooding into the crypto markets. They're using social kind of tips. There are thousands of people on Facebook trying to ask, "Well, what crypto should I...
The first thing to notice in the chart of Bitcoin over the last several years is that the bull markets are very fast and sharp. They don't last that long, but they are exponential, and the market skyrockets. But after the bull market is finished, there's typically a very sharp correction and a long period of nothing, which is very painful if you've got the wrong system style. And suddenly...
There's are different types of risks to consider which is catastrophic risk, system risk, and a position risk. The regulation space is evolving rapidly and what you can trade in one country from one month to the next can change. The future of particular tokens or parts of the market can also change over time. You need to be cognizant and be nimble with your strategy and portfolio and get out if...
The first and most obvious is a broad-based adherence to buy and hold. This idea is very popular in crypto, that if you buy and hold, you'll be a billionaire or be rich. That might be true if you happen to choose the right tokens. That might also be true if you just held Bitcoin or Ethereum. But the reality is, this is so new wherein we don't know where it's going regarding the market direction....
Look, I think the biggest challenge that I faced in my trading journey is really just understanding my own psychology and learning about myself as a trader and what I need. I mean, I read a lot of books about different styles of trading and in the early days I was really grappling with trying to connect with every different style of trading that I read about and really pushing myself to...