The Trading Dojo #1
Hello, everyone!
It is my great pleasure and honor to introduce a new series that I've been working on for some time now together with the one and only @wingz. It's a trading series that we hope it will help everyone interested in this arcane skill:
The idea for a good trading series that could help noobs came to me after seeing that so many steemians are interested in trading and actively trade, yet there's not so much information about how and what to trade.A lot of us just went by feel and learned by doing but we lack fundamentals. That's one of the reasons the cryptomarket is still in its infancy, most of the traders are not very experimented. This is good for an expert trader as he can take advantage of beginners's mistakes. That does not sound like a great situation to me and I wanted to see if we can push the level up. If Steemians could be better trader, what impact would this have on the cryptomarket?
But there's a huge gap of information and knowledge that needs to be filled. I am a big believer in learning and in that sharing knowledge makes us ALL richer. Of course, I had no knowledge to give as I am not a trader and all I know is mostly self-thought. That's were @wingz comes in.
@wingz is a professional trader but also a crypto trader for at least 3 years. He is in an unique position to have a lot of knowledge, insight, experience AND also to be very open to discuss it with me. ( The fact that we are friends is a huge bonus too). I also always loved his easy to read blogs and he has a talent to explain complicated concepts easily. It was really no question on who to do this series with.
I had the big idea and I had the right person. You might wonder why isn't Wingz doing this series on his own. After all, what do I have to offer?
We talked about that and we decided on a format that we think it will be best, especially for beginners. I remember how I learned to play poker, not by reading books and blogposts - although that helped - but by watching a TON of training videos. Mostly people talking through their poker decisions.
One of my favorite format was when they paired a noob with a pro and they discussed whatever the pro did. Basically, the new guy was a stand in for "me" at the time, asking what no pro would think of ask and clearing stuff up for himself, helping me in the process.
We thought we should do that in this series. I am THE NOOB, the stand in for "you", and I'm trying to ask the questions that are necessary, sometimes stupid, sometimes even repetitive so we can all learn an get to the bottom of this trading thing! Basically, the format can boil down to "ME asking wingz stuff". We had this epiphany after we talked about a trade and wingz showed me some graphs of his trades and walked me through his decisions. It was a big A-HA! moment for me and the inception of this series. Wingz noticed that there is nothing like it out there. Obviously, we had to make it happen and here we are.
This could not have worked without @wingz. I know no other trader that has his experience and I trust him completely. We've known each other now for months - also met in person at Steemfest - and I know he is the absolute real deal. But he is also a big believer in sharing and helping people figure stuff out. I would say that he has all the makings of a mentor. I learned so much from him over the time and I hope that -through this series- you'll learn a lot too.
We have big goals with this: talking trades, answering questions of all kinds from the comments, live trading, shitcoin discussions, ico discussions and many many many more things to come. We have no idea how well will this be received but we think it will bring a much needed good trading series on Steemit and we're all gonna have a lot of fun here and hopefully make some $$$ with out trades too!
Last but not least!! No series can start without a nice illustration/logo. It's not a secret that I am a big fan of @kyriacos for his ON-POINT work with robinhoodwhale and other stuff ( CHECK HIS BLOG!! ). He was my first and only choice for this and he got what I wanted instantly. I love the illustration and it will be a perfect companion to this series.
PS:Thank you for doing it fast, man!!
I hope you like it and are as excited as we are about this whole...experiment, I guess.
In the next chapter we'll talk about what makes a trader, what's a good coin to trade in crypto and how to work on your weaknesses and identify your strengths. We'll also have some theory articles written by @wingz on his blog that will complement this series nicely. I should not tell you that following him is mandatory if you want to get the most out of this series.We plan to have a first season of 10 chapters and then take it from there.
@wingz always says:
Trading is both a skill and an art. It reveals who you are and so, no traders trade exactly the same.
Seen through this lenses, trading is self-discovery too. We think that everyone will learn something from this, no matter their current level because..there's always more to know about yourself.
Yet this series will never achieve its potential alone. This can not happen without you. So get involved, ask around, link us stuff, make us work hard and let's get to the bottom of this. Don't be shy!
It's a chance for all of us to learn, grow and become better at trading.
Let's take it!
We'll see you soon,
wingz & razvanelulmarin
It's been loads of fun chatting about trading with you these last few months @razvanelulmarin
One of my favourite trading books was Market Wizards by Jack Schwager. One of the classics where he goes around and interviews a wide variety of different traders.
Hopefully we can recreate a similar feeling in the next few posts. The lens that you view the markets is individual to each trader, but it's in discovering those quirks in your personality that allow you to have an edge.
Looking forward to it :)
Market Wizards...Great book for traders, we use to keep a bunch of trading books on a shelf on the trading floor for the newbies, and that was one of them. However, If you want to learn the overall 'Game' and how they work it up and down, I would recommend reading The Alchemy of Finance, by George Soros. It was required reading (although very few understood it) for the big boyz...
Once you understand that book, you will begin to understand more than you ever imagined. Although, you may have to read it a few times. I'm here to answer any questions of it you may have. Keep up the good work.
I've read 'the new paradigm for financial markets' a few times - very interesting intellectually but the most valuable books ive read in terms of the bottom line, are the price action tomes by Al Brooks.
Hope to have many more discussions in the future, send me a DM once you join steemit.chat
Thanks wingz, I'm still feeling my way around. I look forward to more conversations and will be joining chat today.
I'm looking forward to it! It will be very useful for a newbie like me. I'm wondering how people actually making money from trading after one sold his coins.
Example: I bought eth at $200 sold it at $300 and what am I supposed to do next? Wait till eth drop and buy again? Or buy other coin that's undervalue?
paging @wingz :"D
Either you get into another trade in ETH or buy another coin. ETH doesn't necessarily need to drop for you to profit again. It might break to the upside and you can buy higher than your last exit aiming for a higher push up.
Thanks!
So that's the correct cycle of trading?
Those are just a couple of options regarding the mechanics of picking trades. There's alot more to it, I'm sure we'll go into more detail in some of the up and coming posts.
Nice man! I didn't even realize @wingz was a trader. I need to check out his stuff. As a long time trader you are so right about the Noob vs. Expert dynamic.
When you have been trading a long time there are many basic items you don't realize are questions for a noob. Look forward to seeing the series
I'm curious how you'll like it...given your more experienced you might just nod in agreement..or have a good counter-argument! Really interesting to see how the dynamics develop in the comments!
Yes it will be. I can tell you this though. No matter the experience, anytime there is a good dialogue on a topic - always atleast one gem or idea is discovered.
This happened last night at one of my real estate networking events. Someone with less experience dropped a tidbit on me that I was not aware of and I can use to do even better!
On a side note, the real gem I need is how you and wingz do so well on post payouts? I feel my content is up to par and been around as long, so clearly I have something to learn there :-)
If you know what you are doing, that was so call trading.
However, if you don't, that's called gambling!
:))
A very neat and solid idea which sense. Could see this of being benefit. Especially to those newer when it comes to the trading in cryptos feel. I will be keeping eye on this. Thank you.
hopefully you will like it!!
Looking forward to this, it will be nice to see the theory behind the chops as they say in my head!
better having the chops than the theory though :D:D
Hehe, true. Until it all goes tits up and you want to know why!!
This will be so cool!!! Maybe you convince me to become a day trader :)
:)) or that it's a bad idea :P
Great initiative and project @razvanelulmarin and @wings. Trading is still pretty stressful for me so I've been buying coins I think have big futures [BTS, LTC and I've squirrels away quite a bit of Ethereum for the EOS launch], and I'm just going to make my buys and see what happens in 3 - 5 years. Looking forward to more of this series, and great graphic @kyriacos!
thanks a lot for your interest! We hope this will be good for everyone!!
thank you man
Really a great writing .hope in future will see such kind of excellence.
I don't know why but I just seen this. Thank you for the mention man.