Lessons from a Master Crypto Trader: E1. | 4-7-2017
Below from a master trader is part of my exchange with him last nite in a Crypto chat I was having about some of the market goings on and ideas. His response was gold -- pardon the pun - and I captured the info with his permission to use this, knowing there are good nuggets of wisdom in here for many people from a guy that's been through it. He is very sharp.
I've made minor edits here to tidy things up a bit also with his full knowledge. It was a chat between friends so was a little rough around the edges LOL.
We are called to help and encourage one another so my hope is that this post helps you, or you send it to a friend, learn from his words, successes and failures and as he says, we should assist one another.
Things I have said and believe in also.
I am very aware there are master traders around us every day..... but there are tons of new people coming into the Crypto space EVERY SINGLE DAY reading info, finding resources like this online..... and this type of info is a good resource for both sides of this table either as lessons, or reminders.
These are my thoughts on things. Neeraj has a good heart and is a hard worker and always informed.
Solid combinations.
" Barry Dutton, my trading strategy is long term, it's different than the way James trades so we are not always in agreement but to be honest with you, I dropped 10 $BTC into $LBC (LBRY) and 13 BTC into RIPPLE ($XRP) last night. Woke up this morning and they were both down, am I worried?
No. Here's why...
I've been patient and waiting. I had more before I added to my stack so in the end my dollar cost average is below where the prices are sitting at now so I'm still in the green. I have stop losses to get be out 5% before I would actually go into the red so I will not lose out on this. I've been waiting for solid news that would cause prices to pump...
Remember the last time that bitcoin was at these prices, Litecoin was around $48. So with this in mind and the fact that SegWit has a fair chance of activating on LTC in the near future... I pulled the trigger. Is there drama, yes... was it bad news for LTC? I could care less...
I did the math, made up my mind, and moved to doubling down on my $LBRY (Library Credits) position... again, dollar cost averaging. I may be holding Ripple for a while, again to be honest, that was a fat finger messup... I thought I was buying Litecoin. It was late, I was tired but it hit me...
Litecoin is due and if it doesn't happen now then it will happen soon and I'm a patient man. I jumped out of bed and ran to the computer, sold some shitcoins and get this, sold a bunch of Ripple to buy Litecoin and ended up buying back what I had sold at a higher cost... let that be a lesson and a warning.
We all mess up, at least it wasn't sent to the wrong address or something devastating. I'm slowly moving out of most of the alt coins and trying to get into coins that I can keep in cold storage and take everything off the exchanges because I don't want to be holding anything online as decentralized exchanges start to make their way into usable space.
So, finally, like I always say... do your homework, have faith in your execution, and buy solid coins because if your timing is off... that's all it is... TIMING.... and not some johnny come lately coin that's looking to bed you and leave with the BTC. I say all this to say, I hope you don't make the same mistakes I have, I hope you learn from my mistakes and benefit from from what I have experienced.
Info and sources used/named here today to help you:
Neeraj info:
http://www.digitalcurrencyconsulting.com/
His Bio in a nutshell:
Mr. Narula obtained his Bachelor of Science in Physics from West Chester State University of Pennsylvania in 1992 where he held the role of President of Sigma Pi Sigma, the Physics Honor Society for his junior and senior years. After graduation, Mr.Narula started his professional career at ACS Software Services where he held the role as programmer for 2 years. It was after he made ground breaking modifications to the PICK Operating System that his talent for Systems Engineering was first displayed.
Several years later, Neeraj moved on to head the Engineering department at ACS Software before assuming the position of Network Systems Administrator at International Envelope Company where he led the project team involved with moving the corporate headquarters from Swedesboro, New Jersey to Exton, Pennsylvania. Shortly after IEC’s offices were consolidated, he returned to ACS as Research and Development Manager where he led a team of 12 programmers that successfully created a dynamically generated Graphical User Interface for several high end accounting and manufacturing applications (currently still in use by GM and The International Longshoremen's Association, AFL‐CIO).
As the project came to fruition, Mr. Narula began his independent consulting career providing on demand technical support and project management for premier multi-million dollar companies located in Chester, Montgomery, Berks and Philadelphia counties, and a few clients at his winter home in Mount Pleasant, South Carolina. During his career, Neeraj expanded the business for several years to include a cabling division which also provided support for telephone and alarm systems, but found no enjoyment in managing engineers, technicians, payroll, marketing, and the partnership that came along with the employees.
After a few years, he went back to solo consulting, keeping everyone in his original customer base. As the economy crashed, Mr. Narula continued to provide cutting edge solutions to increase productivity and profitability for his clients. Even though the economy was struggling, everything was going just fine until he read The (Bitcoin) White Paper.
In 2011 after his introduction to Bitcoin and Blockchain, Mr.Narula wound down his consulting practice and retired as a Business Technology Consultant and Network Engineer. From having had access to several large investment firms through his consulting years gave a unique perspective to trading digital currencies, which he does to this day. Having spent several years mining, investing, researching, and working with just about every major digital currency in the cryptocurrency space, N.K.Narula is ready to share his wealth of information and assist everyone during the upcoming wealth transfer from the fiat currency system (which historically has failed 100% of the time since inception) to digital currencies which are not fractionally reserved.
So... Welcome aboard, let’s buckle down and do the research, we’ve done our homework here and are ready to roll. Get yourself up so speed on how the fiat system works and how cryptocurrencies are poised to replace the fiat system at a very rapid rate. Once you’re ready, get in touch. We're going to do great things.
Library Credits Crypto ($LBC -LBRY) on Twitter - https://twitter.com/LBRYio
Ripple - $XRP ( 2 twitter handles, this is the more recent/official one) - https://twitter.com/Ripple
Barry on Twitter - https://twitter.com/BarryDutton
Neeraj on Facebook - his company page - https://www.facebook.com/DigitalCurrencySolutionsByN.K.Narula/
Neeraj on Twitter - https://twitter.com/nknarula
Thanks for reading, have a nice day. I hope this is valuable to you.
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
Monero - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Sorry if I cannot get to replies right away.
Below from a master trader is part of my exchange with him last nite in a Crypto chat I was having about some of the market goings on and ideas. His response was gold -- pardon the pun - and I captured the info with his permission to use this, knowing there are good nuggets of wisdom in here for many people from a guy that's been through it. He is very sharp.
I've made minor edits here to tidy things up a bit also with his full knowledge. It was a chat between friends so was a little rough around the edges LOL.
We are called to help and encourage one another so my hope is that this post helps you, or you send it to a friend, learn from his words, successes and failures and as he says, we should assist one another.
Things I have said and believe in also.
I am very aware there are master traders around us every day..... but there are tons of new people coming into the Crypto space EVERY SINGLE DAY reading info, finding resources like this online..... and this type of info is a good resource for both sides of this table either as lessons, or reminders.
These are my thoughts on things. Neeraj has a good heart and is a hard worker and always informed.
Solid combinations.
" Barry Dutton, my trading strategy is long term, it's different than the way James trades so we are not always in agreement but to be honest with you, I dropped 10 $BTC into $LBC (LBRY) and 13 BTC into RIPPLE ($XRP) last night. Woke up this morning and they were both down, am I worried?
No. Here's why...
I've been patient and waiting. I had more before I added to my stack so in the end my dollar cost average is below where the prices are sitting at now so I'm still in the green. I have stop losses to get be out 5% before I would actually go into the red so I will not lose out on this. I've been waiting for solid news that would cause prices to pump...
Remember the last time that bitcoin was at these prices, Litecoin was around $48. So with this in mind and the fact that SegWit has a fair chance of activating on LTC in the near future... I pulled the trigger. Is there drama, yes... was it bad news for LTC? I could care less...
I did the math, made up my mind, and moved to doubling down on my $LBRY (Library Credits) position... again, dollar cost averaging. I may be holding Ripple for a while, again to be honest, that was a fat finger messup... I thought I was buying Litecoin. It was late, I was tired but it hit me...
Litecoin is due and if it doesn't happen now then it will happen soon and I'm a patient man. I jumped out of bed and ran to the computer, sold some shitcoins and get this, sold a bunch of Ripple to buy Litecoin and ended up buying back what I had sold at a higher cost... let that be a lesson and a warning.
We all mess up, at least it wasn't sent to the wrong address or something devastating. I'm slowly moving out of most of the alt coins and trying to get into coins that I can keep in cold storage and take everything off the exchanges because I don't want to be holding anything online as decentralized exchanges start to make their way into usable space.
So, finally, like I always say... do your homework, have faith in your execution, and buy solid coins because if your timing is off... that's all it is... TIMING.... and not some johnny come lately coin that's looking to bed you and leave with the BTC. I say all this to say, I hope you don't make the same mistakes I have, I hope you learn from my mistakes and benefit from from what I have experienced.
Info and sources used/named here today to help you:
Neeraj info:
http://www.digitalcurrencyconsulting.com/
His Bio in a nutshell:
Mr. Narula obtained his Bachelor of Science in Physics from West Chester State University of Pennsylvania in 1992 where he held the role of President of Sigma Pi Sigma, the Physics Honor Society for his junior and senior years. After graduation, Mr.Narula started his professional career at ACS Software Services where he held the role as programmer for 2 years. It was after he made ground breaking modifications to the PICK Operating System that his talent for Systems Engineering was first displayed.
Several years later, Neeraj moved on to head the Engineering department at ACS Software before assuming the position of Network Systems Administrator at International Envelope Company where he led the project team involved with moving the corporate headquarters from Swedesboro, New Jersey to Exton, Pennsylvania. Shortly after IEC’s offices were consolidated, he returned to ACS as Research and Development Manager where he led a team of 12 programmers that successfully created a dynamically generated Graphical User Interface for several high end accounting and manufacturing applications (currently still in use by GM and The International Longshoremen's Association, AFL‐CIO).
As the project came to fruition, Mr. Narula began his independent consulting career providing on demand technical support and project management for premier multi-million dollar companies located in Chester, Montgomery, Berks and Philadelphia counties, and a few clients at his winter home in Mount Pleasant, South Carolina. During his career, Neeraj expanded the business for several years to include a cabling division which also provided support for telephone and alarm systems, but found no enjoyment in managing engineers, technicians, payroll, marketing, and the partnership that came along with the employees.
After a few years, he went back to solo consulting, keeping everyone in his original customer base. As the economy crashed, Mr. Narula continued to provide cutting edge solutions to increase productivity and profitability for his clients. Even though the economy was struggling, everything was going just fine until he read The (Bitcoin) White Paper.
In 2011 after his introduction to Bitcoin and Blockchain, Mr.Narula wound down his consulting practice and retired as a Business Technology Consultant and Network Engineer. From having had access to several large investment firms through his consulting years gave a unique perspective to trading digital currencies, which he does to this day. Having spent several years mining, investing, researching, and working with just about every major digital currency in the cryptocurrency space, N.K.Narula is ready to share his wealth of information and assist everyone during the upcoming wealth transfer from the fiat currency system (which historically has failed 100% of the time since inception) to digital currencies which are not fractionally reserved.
So... Welcome aboard, let’s buckle down and do the research, we’ve done our homework here and are ready to roll. Get yourself up so speed on how the fiat system works and how cryptocurrencies are poised to replace the fiat system at a very rapid rate. Once you’re ready, get in touch. We're going to do great things.
Library Credits Crypto ($LBC -LBRY) on Twitter - https://twitter.com/LBRYio
Ripple - $XRP ( 2 twitter handles, this is the more recent/official one) - https://twitter.com/Ripple
Barry on Twitter - https://twitter.com/BarryDutton
Neeraj on Facebook - his company page - https://www.facebook.com/DigitalCurrencySolutionsByN.K.Narula/
Neeraj on Twitter - https://twitter.com/nknarula
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
Bitcoin - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
Monero - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Ethereum - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
LiteCoin - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
Synereo (AMP) - 1KnrL6wFHaT4gjJ2YJ5f6WmKTDJNsaBS8s
Expanse (EXP) - 0x819b9cce8630ab638198eabfd7496786c20d629a
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Sorry if I cannot get to replies right away.
I'm a real big fan of ZCash right now and did a vid today on it. I think it'll be the dark horse crypto of 2017 and is excellent value at $58 a coin ;)
If you like Zcash, you might want to check out the issues regarding zkSNARKs and their required trusted setup. I really like the many use cases for zero-knowlage proofs but in the case of Zcash, it means that you must trust the developers who started the chain to destroy their keys. If they didn't, they are able to undetectably mint as many coins as they want. Your privacy is still protected but this is still a glaring problem. This issue is much to complicated to outline here so I encourage you to do your own research.
Thanks Kyle. I didn't know about this. I will check it out ASAP :)
I do not see too much from you, but every time I do, it is always good stuff.
Some of that I knew, thanks for putting this out there for everyone Kyle. That's partly why I mentioned ZClassic here in the post / to him as well.
Nice seeing your input as always Kyle.
I appreciate it! Finding time for steemit with my university schedule is very hard. Take a look at my newest post about Spotify and blockchain!
https://steemit.com/cryptocurrency/@kyle.anderson/spotify-acquires-ethereum-startup-mediachain-interest-in-blockchain-and-decentralization-grows
I will pull it up now so I do not forget to get to it. TY man, be well.
I think with huge companies like Spotify integrating with blockchain technology, seeing major content providers getting involved with the steem blockchain seems ever closer.
Good to know man, thanks for that input today.
A hard FULL SHIFT all dayer getting to that 14K post today! I was really struggling for a while!! Steem on!!
Oh, actually what are your thoughts then on ZClassic -- w their structure, governance, where they forked from and the split soonish to ZEN and thus having BOTH coins.
Hdg out w a friend helping me w something, check in later friend.
ZClassic?? Never heard of it Barry. Apologies.
https://twitter.com/BarryDutton/status/850379946551685120
bit.ly/2oJSeiP
Disclaimer: I am just a bot trying to be helpful.
Interesting read and perspective. Thanks for sharing.
Thanks for stopping by again!!
This post has been ranked within the top 80 most undervalued posts in the second half of Apr 07. We estimate that this post is undervalued by $0.32 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Apr 07 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Thanks