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(1) Strategy:
I’m a Position Trader. This means I trade the large, overall moves in the market and hold my positions for long periods.
In a bull market I go "long," and in a bear market I go "short." This allows me to make money in both cycles. Much better than "HODL'ing."
I’m a Position Trader. This means I trade the large, overall moves in the market and hold my positions for long periods.
In a bull market I go "long," and in a bear market I go "short." This allows me to make money in both cycles. Much better than "HODL'ing."
(2) Leverage:
I use 6x leverage when I trade. Why? Because it increases my profits by 500%.
Example: If you buy 1 Bitcoin for $10k and sell it at $50k, you make a profit of $40k. However, if you use 6x leverage, your profit increases to $240k.
That's the power of leverage!
I use 6x leverage when I trade. Why? Because it increases my profits by 500%.
Example: If you buy 1 Bitcoin for $10k and sell it at $50k, you make a profit of $40k. However, if you use 6x leverage, your profit increases to $240k.
That's the power of leverage!
(3) What should you buy?
Always do your own research, but I'd recommend:
1. Bitcoin (BTC)
2. Etherum (ETH)
BTC is an obvious choice, but why is owning ETH a good idea?
Because it acts like an index fund for Altcoins. By owning ETH you automatically benefit from Altcoin pumps!
Always do your own research, but I'd recommend:
1. Bitcoin (BTC)
2. Etherum (ETH)
BTC is an obvious choice, but why is owning ETH a good idea?
Because it acts like an index fund for Altcoins. By owning ETH you automatically benefit from Altcoin pumps!
(4) Exchanges:
The exchange I personally use is Deribit. It's one of the leading crypto exchanges & based in Europe.
They've NEVER been hacked & store 99% of all deposited funds offline in cold storage. They deeply care about privacy (no KYC) & security
https://www.deribit.com/reg-7552.412?q=home
The exchange I personally use is Deribit. It's one of the leading crypto exchanges & based in Europe.
They've NEVER been hacked & store 99% of all deposited funds offline in cold storage. They deeply care about privacy (no KYC) & security
https://www.deribit.com/reg-7552.412?q=home
(5) How do I trade?
I send BTC or ETH to my account at Deribit, and then open leverage positions for what I want to trade.
Deribit uses cross-margin auto leverage. This means if I want to trade BTC with 6x leverage, I deposit 0.1 BTC into my account & open a 0.6 BTC position.
I send BTC or ETH to my account at Deribit, and then open leverage positions for what I want to trade.
Deribit uses cross-margin auto leverage. This means if I want to trade BTC with 6x leverage, I deposit 0.1 BTC into my account & open a 0.6 BTC position.
(6) More Examples:
If you put 1 ETH into your account & open a 3 ETH position, you are now trading with 3x leverage.
You can also isolate your margin by creating sub-accounts on Deribit (under "My Account") That way you can run different trades at same time with different lev.
If you put 1 ETH into your account & open a 3 ETH position, you are now trading with 3x leverage.
You can also isolate your margin by creating sub-accounts on Deribit (under "My Account") That way you can run different trades at same time with different lev.
(7) Did you know you can use BTC as a stablecoin?
If you're ever concerned about prices falling, you can move your holdings into synthetic USD on https://www.deribit.com/reg-7552.412?q=home by shorting BTC with 1x leverage.
When I travel or can't monitor prices, I do this with my ENTIRE account.
If you're ever concerned about prices falling, you can move your holdings into synthetic USD on https://www.deribit.com/reg-7552.412?q=home by shorting BTC with 1x leverage.
When I travel or can't monitor prices, I do this with my ENTIRE account.
This accomplishes the same goal as moving your holdings into a stable coin, but it's MUCH safer since you're trusting Bitcoin and not a third party like Tether that may not even be backed 1:1.
When shorting with 1x leverage, do it on Futures. That way, you don't pay funding.
When shorting with 1x leverage, do it on Futures. That way, you don't pay funding.
What other use case is there for shorting with 1x?
It allows you to create synthetic USD and store it completely outside governmental and banking control. You get the benefits of physical cash without having to use a bank or carrying it on you. Your money can’t be confiscated.
It allows you to create synthetic USD and store it completely outside governmental and banking control. You get the benefits of physical cash without having to use a bank or carrying it on you. Your money can’t be confiscated.
