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RE: When alt season?
Totally agree with you. I need to see bullish signals and liquidity in the space.
There are some beautiful setups at the moment, but until the liquidity is there, I'm not touching them. I'm patiently waiting on the sides and looking for some positive signs.
My one long term hold is in a company that has a real use case with real partners (such as BMW and DNV GL).
Other than that, I look for daily compounds to grow my trading pot. At the moment, that trading pot is sitting there alone but ready.
good luck, you're a lot braver than me lol. Saying that, I know people (traders) that are actively in crypto, and they say they're mopping up. Because it's such a newb market and most people don't understand what they're doing (after learning useless shit on YouTube) it's just a case of picking off all the trapped traders.
Pretty much what I do on FX, just not enough opportunity for me to do it with my current broker yet. I can short 5 major coins but the spreads are ridiculous wide.
Haha, I managed to turn a relatively modest sum into a pretty decent sum within a few weeks by compounding daily. But, to be able to do that again, the entire crypto space needs to pick back up!
Do you trade BTCUSD with a forex broker? And if so, what's the spread like? I've used IC Markets for a long period of time because they usually offer the best spreads, but there's always a bit of a delay in executing trades at market. Tickmill doesn't have this problem but the spreads are worse.
Heres my tradeables and current spreads (vs USD)
Bitcoin 70
Ripple 1
Ether 8
Litecoin 3
Bitcoin Cash 12
Their pip system is a little strange, but it roughly equates to USD (ie 70 is $70 per 'lot')
oh and the margin required for Bitcoin is 25% !!! so at the moment for every lot of BTC I need to put up approx $3000...