Crypto currency trading

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Morbius
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Joined: Thu Feb 13, 2020 3:38 pm

As an add on to my last post... My MO has always been slow and steady and compounding of wealth over time. This is a better way to attain wealth with less risk. For example doubling £100 in a month may seem trivial but to double your bankroll every month for a year would turn 100 quid into 400k in 12 months.

But wealth can be attained differently hence why so many people did well trading forex with huge leverage but a damn site more blew up. Speculating well can often be a way to get wealthy without doing the leg work to understand the markets but managing larger sums of money over time requires other skills.

However younger people cannot be underestimated. They have knowledge in areas where older people don't and as is often the case knowing too much can sometimes be a handicap. A great little book to read on speculation is "The Zurich Axioms"... Clever fellows those Swiss ;)
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jimibt
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Location: Narnia

Morbius wrote:
Mon May 10, 2021 1:48 pm
However younger people cannot be underestimated. They have knowledge in areas where older people don't and as is often the case knowing too much can sometimes be a handicap. A great little book to read on speculation is "The Zurich Axioms"... Clever fellows those Swiss ;)
i'll have a look at that (Y).

re young minds etc. i've come to the conclusion that there is a different wiring going on in the younger kids brains these days. no doubt fed by the likes of tiktok etc, they tend to consume JUST ENOUGH info to get the job done and done as quickly and efficiently as possible. i of course would refer to it as skimping on detail - but i'm definitely old SK00L in that respect. :D

and i definitely agree about buying into a bull market, it can seem TOO easy and potentially leave you niaive to the nuances of give and TAKE!!

anyway, it's an amusing little story to watch unfold.
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Kai
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jimibt wrote:
Mon May 10, 2021 3:11 pm
no doubt fed by the likes of tiktok etc, they tend to consume JUST ENOUGH info to get the job done and done as quickly and efficiently as possible.
Don't knock lazy people, these are some of the most efficient individuals ever! :lol: I say this as a bit of an Expert Procrastinator myself :D

It always reminds me of something Bill Gates once said!

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Morbius
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jimibt wrote:
Mon May 10, 2021 3:11 pm
Morbius wrote:
Mon May 10, 2021 1:48 pm
However younger people cannot be underestimated. They have knowledge in areas where older people don't and as is often the case knowing too much can sometimes be a handicap. A great little book to read on speculation is "The Zurich Axioms"... Clever fellows those Swiss ;)
i'll have a look at that (Y).

re young minds etc. i've come to the conclusion that there is a different wiring going on in the younger kids brains these days. no doubt fed by the likes of tiktok etc, they tend to consume JUST ENOUGH info to get the job done and done as quickly and efficiently as possible. i of course would refer to it as skimping on detail - but i'm definitely old SK00L in that respect. :D

and i definitely agree about buying into a bull market, it can seem TOO easy and potentially leave you niaive to the nuances of give and TAKE!!

anyway, it's an amusing little story to watch unfold.

Just one last thing as I don't want to be told off for dragging a thread off topic :D

I just read my posts back and they did sound a tad negative and I didn't mean them to be. There is a huge misconception with speculating that it's just wild gambling in disguise. Quite often it is but sometimes if done with common sense you really can return huge sums quickly even with little outlay.

In FX before ESMA regulatory changes for example some people were spinning up tiny sums of money like 2k for example into serious six figure sums using leverage of 1:100 upto 1:500.

If you have the means to simply buy back in then this would work similarly to a re-buy poker tournament in nature. Using such huge leverage with little understanding of how it worked with your last 2k would be stupidity beyond stupidity but with the right knowledge then speculating like this could reap huge rewards if done with common sense.

Some years ago I did a £100k challenge for 888poker where I started with £100 as a promotional strategy and then promoted it in poker magazines merely to show that small sums could be compounded and that you didn't need to be a top class player to do it. . So spinning up can be the right thing to do for many people who either don't want to risk huge sums to start with or don't have the patience to grind small returns at the outset.

As for what Kai said in his last post... Unfortunately the smarter we become then other problems manifest. One being that we inadvertently get bogged down with more knowledge which most of it is crap. Secondly we have the tendency to over complicate and search for intricate solutions. Game theory teaches us that the end result is nearly always less complex than you imagined it to be when you became "smart enough" to know more than the novices :)

"Everything should be made as simple as possible but not more so". Einstein said that and I think he may have been pretty smart from what I've read :D
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decomez6
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jimibt wrote:
Sun May 09, 2021 9:19 pm
i've been blown away recently by my 18 year old son. he was never an academic achiever, but always super smart. in the past 5-6 weeks, he's got involved in the shady world of crypto... let the story unfold...

he started off at the beginning of april by investing his *money* gained from being part of a government scheme that exisited for about 4 years in the mid nougties which invested £500 into an account to help *every* child in the UK... On turning 18, he was able to cash out a tidy sum of £1500 (isH). Now, rather than being a typical teenager (such as I would have been), he cast his eye across the cryto markets. his 1st bait with his £1.5k was this one:


As we speak today, he is now sitting on a grand total of £27-30k + for literally 5 weeks work.. it just makes me realise that KIDS these days actually have a very different perspective on what we would consider *further education*... his takings in the past 6 weeks eclipse pretty much anything I've ever done, even in my peak.

the 1st takeaway was -remember the *training* - stay tight and let it ride. However, in a market that is pretty much dominated by a super smart new generation, i had no clue as to hold/buy/sell.

So, as for algos, yes in terms of bot creation, but in terms of gut instinct and pure balls, I'd have to say, those parameters are still elusive to me...inconsidereable playground!
An apple falls not far away from the tree and judging from your contributions in many a topics to the forum ,it comes as no surprise ,WELLdone!! to the YOUNG one :) :mrgreen: look at what isaac newton did with an apple(( gravity ) ).
during the lockdown was home schooling my 15 year old GCSE maths, on the topic of Venn diagrams , hcf & Lcm stuff, then something clicked and he noticed a similarity between what i was saying and what he knows i do on the bet angel screen, he could see a correlation that i barely see.(i tried it out but obviously didnt work) i was nevertheless impreessed that he finds interest ideas worthwhile.
things are always in the dark until a bright mind shines a light on it.your son could be on to something, atleast you have not to worry about university debt trap, he might pay for it himself :shock:
i personally think trading could be much easier , just like a binary decision but we all make it complex by concentrating on the random results on a normal distribution curve.
who knows , may be it will take the young brains to look at a screen and re write the rules " Daaad what have you been doing ? this is easy just watch this ,follow that ,and watch your P&L grow. A>B>C :lol: .
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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

I've started this thread so people talking about it and / or other crypto's, other than Bitcon, have somewhere to chat.
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wearthefoxhat
Posts: 3206
Joined: Sun Feb 18, 2018 9:55 am

Here's a reminder and a little explanation of what can happen in the crypto space.

Pumpcoin created for the craic (same as Dogecoin - pronounced "doggycoin" not dojecoin as some believe)


https://www.youtube.com/watch?v=lT9Pimq6v7k
Zenyatta
Posts: 1143
Joined: Thu Mar 11, 2010 4:17 pm

"A senior manager at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto asset which has risen by more than 1,000% in value this year."

"Some early buyers of the digital currency are believed to have amassed small fortunes as the value of Dogecoin soars, including one anonymous owner with a stake thought to be worth more than $2bn."

https://www.theguardian.com/technology/ ... m-dogecoin

https://www.youtube.com/watch?app=desktop&v=s3NWyh8a5t0
Michael5482
Posts: 1218
Joined: Fri Jan 14, 2022 8:11 pm

I've never invested or purchased any Crypto but received an e-mail earlier from the Nationwide saying the FCA have highlighted certain risks with purchasing Crypto as such restrictions have now been placed on accounts with daily purchase limits and unable to purchase via credit cards.

It's took them long enough. That's what frustrates me about gambling with the overwhelming majority doing it responsibly but made to jump through hoops, provide pay slips, P60's, bank statements or banned, restricted to pennies etc but you can blow your brains out on on unregulated Crypto and NFT's no questions asked.
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