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I have been trading crypto for 5 years now and it is a wet dream for rogue traders. There was a myriad of stories about traders and even banks that tried to pul
by curiousgal 9y ago
I have been trading crypto for 5 years now and it is a wet dream for rogue traders. There was a myriad of stories about traders and even banks that tried to pull of some shady statretgy in the stocks markets that the SEC shut down, those same strategies seem to be fair game in the crypto world, you just have to have pockets that are deep enough. My point is that if you are smart and think you can beat or even keep up with the crypto market, you will end up losing because it’s been rigged for years.
- coryl 9y agoIf you are short term day trading you're likely to be a victim of pump and dump groups and manipulation. Going long on high market cap coins with a longer timeline is a relatively safer bet.
- curiousgal 9y agoThere are fees to any position you hold so even though going long is indeed the safe bet, having a longer timeline requires deep pockets.
- bonestamp2 9y agoYou can avoid the fees on some bitcoin exchanges if you're a market maker, and with the volatility that's pretty easy most days. I made a couple 0% fee trades today alone. But, the second part is definitely true... you still need deep pockets to hold a long position.
- coryl 9y agoBuy and hold doesn't have any recurring fees. If you look at the opportunity cost between crypto and any other financial security in the market, its an easy decision.
- mitchellberry 9y ago"Fees" I see the margin lending rates on some exchanges right now being 0.003% daily. This is for coins that move 10% a day. Probably fair to assume fees aren't what the traders lose sleep over.
- onion2k 9y agoThe rogue traders aren't looking for a safer bet.
- coryl 9y agoExactly, which is why the safer bet is going long on high market cap coins, not small volume coins where pump and dumps can cause liquidation events.
- 659087 9y agoI've always laughed watching the cultist end of the crypto community up on their imaginary moral high horses talking about how much "better" crypto was than banks and regulated markets.. given the fact that crypto markets basically represent all of the shady shit manipulators in regulated markets would love to do but can't.
- sdljfslkjfdsj 9y ago+1. It's laughable. Segregated accounts, position limits, circuit breakers, margin limits, spreads across duration to reduce risk, etc are all GOOD things. The counter party risk in the exchanges right now is HUGE in the bitcoin world. Pass on that.
- LrnByTeach 9y agoVery well said, Both of these comments , capture the essence of STATE of Crypto trading unregulated markets of today . > I've always laughed watching the cultist end of the crypto community up on their imaginary moral high horses talking about how much "better" crypto was than banks and regulated markets.. > given the fact that crypto markets basically represent all of the shady shit manipulators in regulated markets would love to do but can't. reply > +1. It's laughable. Segregated accounts, position limits, circuit breakers, margin limits, spreads across duration to reduce risk, etc are all GOOD things. The counter party risk in the exchanges right now is HUGE in the bitcoin world. Pass on that.
- jpmattia 9y ago> There was a myriad of stories about traders and even banks that tried to pull of some shady statretgy in the stocks markets that the SEC shut down OK, let's hear a few of the stories. Or at least a few links. (And I promise my pockets aren't deep enough to execute on them.)
- bousaid 9y agoHe might be referring to some dark pool trading (eg private exchanges)