I’ve been speaking to a few of you lately and got the impression that some of you believe I’m a long-time trader with millions in the bank.
Spoiler alert, I’m not.
I’m going to talk you through my journey over the past years.
HEADING INTO THE UNKNOWN
Spoiler alert, I’m not.
I’m going to talk you through my journey over the past years.
HEADING INTO THE UNKNOWN
This story describes my steps to where I am today and serves entertainment purposes only, it does not constitute advice in any shape or form.
It is not recommended to follow these steps as a roadmap.
You can also read this on medium, linked at the end of the thread.
It is not recommended to follow these steps as a roadmap.
You can also read this on medium, linked at the end of the thread.
It all started in September 2017; I had just enrolled in a business degree and had no idea what I wanted to do with my life.
As I walk into that lecture, this cocky looking mf (aka @tradinglord) turns around, introduces himself and starts talking about bit coin (?!)”.
As I walk into that lecture, this cocky looking mf (aka @tradinglord) turns around, introduces himself and starts talking about bit coin (?!)”.
Over the course of the next weeks, he keeps talking to me about this orange coin that only goes up.
Looking at the 5 figures of tuition payments that I just signed up for, I was intrigued.
I had been paying for all my things for a few years already, so money was tight.
Looking at the 5 figures of tuition payments that I just signed up for, I was intrigued.
I had been paying for all my things for a few years already, so money was tight.
Here we go.
Creating a fucking eToro account and doing “research” innit. My journey had officially started.
I did quite well in the months that followed, turned a $500 portfolio of $BTC and $ETH into a few thousand and sold near the top.
Still poor, but hey, I made money.
Creating a fucking eToro account and doing “research” innit. My journey had officially started.
I did quite well in the months that followed, turned a $500 portfolio of $BTC and $ETH into a few thousand and sold near the top.
Still poor, but hey, I made money.
The blow off top happened a few days later, and I was relieved how I got out in time.
Of course, that’s when the $ALTS started running. I saw things like $DASH and $XVG going absolutely bonkers and figured, fuck, I’m missing out.
Of course, that’s when the $ALTS started running. I saw things like $DASH and $XVG going absolutely bonkers and figured, fuck, I’m missing out.
Yep, the FOMO trap. I ended up redepositing most of the money I made and bought $XRP at $2.11 a pop.
I think you can kind of fill in how the rest of the year went. That shit nuked to hades faster than you can say fuck.
I think you can kind of fill in how the rest of the year went. That shit nuked to hades faster than you can say fuck.
I was back to square one, but luckily only gave back profits.
Not as big of an L as it could have been. I held my ripples and kinda forgot about them, only checking in on prices every now and then. The market was dead, nobody believed in crypto anymore.
I moved on.
Not as big of an L as it could have been. I held my ripples and kinda forgot about them, only checking in on prices every now and then. The market was dead, nobody believed in crypto anymore.
I moved on.
2 years of university flew by and suddenly it was late 2019. Bitcoin was trading around $7,000.
However, it survived another brutal crash. I at this point had looked at a few charts and realised the bitcoin thing goes up in cycles, and then dies.
(wow, genius)
However, it survived another brutal crash. I at this point had looked at a few charts and realised the bitcoin thing goes up in cycles, and then dies.
(wow, genius)
Then 2020 came.
Early January I started seeing footage from China about some virus that made people collapse in the middle of the street. Shit seemed bad.
I figured it would hit the west soon enough and wanted to buy whatever market crash it would cause.
Early January I started seeing footage from China about some virus that made people collapse in the middle of the street. Shit seemed bad.
I figured it would hit the west soon enough and wanted to buy whatever market crash it would cause.
3 months later, markets started to tumble. It was time to play.
One small caveat to the story is that I was planning to fly to Vancouver to wrap up my bachelors in the summer of 2020.
I was still strapped for cash, so I could only buy the crash with low 4 figures.
One small caveat to the story is that I was planning to fly to Vancouver to wrap up my bachelors in the summer of 2020.
I was still strapped for cash, so I could only buy the crash with low 4 figures.
Mind you I still didn’t know much about crypto, and outside $ETH and $BTC, every alt I ever touched went to shit. I lost faith in them.
BEAR MARKET PTSD LFGGGGG
BEAR MARKET PTSD LFGGGGG
So, I scooped some BTC around $4800, and bought a few ETH around $120 as well.
Late April I got the news that moving to Canada was cancelled for good, so I had another high 4 figures to spare.
Mind you, prices had already recovered to mid $7000s & $170. Anyway, I bought more.
Late April I got the news that moving to Canada was cancelled for good, so I had another high 4 figures to spare.
Mind you, prices had already recovered to mid $7000s & $170. Anyway, I bought more.
I also decided to sell my $XRP and bought $ADA. One scam for another, but at least we now know $ADA knows how to go up.
My strategy was to treat these purchases as investments and scale-out of them in tranches as prices would climb.
(More on that here:
My strategy was to treat these purchases as investments and scale-out of them in tranches as prices would climb.
(More on that here:
A few weeks later, the pandemic hit Europe, and my country went in full lockdown.
I obviously got bored to death and started browsing Twitter.
To my surprise, I found a massive community of people trading and investing, friendly people with good memes. I liked what I saw.
I obviously got bored to death and started browsing Twitter.
To my surprise, I found a massive community of people trading and investing, friendly people with good memes. I liked what I saw.
I started reply guy-ing & sharing my own thoughts on the markets rather quickly. I knew jack shit about trading nor analysis, but I figured I would learn as I went.
In the months that followed, asking questions and observing what people were doing to their charts taught me a lot.
Once I gathered my first 1000 followers, my learning curve went vertical. Comments on my tweets made me question my analysis and forced me to improve quickly.
Once I gathered my first 1000 followers, my learning curve went vertical. Comments on my tweets made me question my analysis and forced me to improve quickly.
As I grew on there, I started building a connection with some larger accounts. Mind you, guys like @RookieXBT had less than 3000 followers back then.
I also realised that my strategy of scaling out was a bit too aggressive, I think I sold half of what I bought before BTC even went into price discovery. Bear market PTSD anyone?
I shifted focus to actively trading and using the proceeds of that to grow my stack while sticking to my original plan.
This resulted in me pushing more content on Twitter as well because back then I shared most if not all my trades, live.
This resulted in me pushing more content on Twitter as well because back then I shared most if not all my trades, live.
Then – a few months later – I suddenly had over 10,000 followers. What the fuck. I still felt like I had no idea what I was doing, but it somehow worked. I was making money. Around that time Delta Exchange (use my reflink, bitch) approached me to work with me.
Still trading a relatively small account, getting some cash flow from another source than trading is great.
After a few months of imposter syndrome, I realised I was taking people on the same learning journey I was on.
After a few months of imposter syndrome, I realised I was taking people on the same learning journey I was on.
I taught other people the little knowledge I had, and that gave them a good starting point. I figured out how I would position myself.
Delta pushed me to leverage and options, while my learning curve was flatting out. New stuff to play around with, came at the right time.
Delta pushed me to leverage and options, while my learning curve was flatting out. New stuff to play around with, came at the right time.
From there it didn’t take long before I decided to sell most of my spot exposure, as bitcoin just lost the 50d MA for the first time since the start of the run.
I pride myself on keeping it simple, that was a strong signal for me to get out.
Some of you prob remember this.
I pride myself on keeping it simple, that was a strong signal for me to get out.
Some of you prob remember this.
You know what happened next. Everything went to shit. I was glad I sold, but still down bad as I didn’t sell everything.
The chop range came. My swing trading techniques were useless as they relied heavily on a trending market. Fuck. I can’t trade for shit. Now what?
The chop range came. My swing trading techniques were useless as they relied heavily on a trending market. Fuck. I can’t trade for shit. Now what?
As discussed, Delta gave me leverage & options as well as funds to trade with. I decided I’d just buy back some spot again while I played around with Delta’s money. I was hellbent on keeping those funds but losing would not be the end of the world.
Because of how quickly the trades followed one another, I got a lot more “feedback” and data points to derive insights from.
This caused my learning curve to steepen again, and I learnt a lot over the course of those two months.
I observed @jimtalbot, @siliconebunker, @satsdart & a few other lads to see how they went at the LTFs.
(Warning: observing jim and insilico has its side effects)
I observed @jimtalbot, @siliconebunker, @satsdart & a few other lads to see how they went at the LTFs.
(Warning: observing jim and insilico has its side effects)
I quickly learned most of the things I previously applied to the higher timeframes worked similarly on lower timeframes. Everything just played out more quickly.
After the two months of chop, I had made *some* profits, but nothing noteworthy or worth spending the time I did.
Sure, I only spent two months trying, but I learnt that scalping was not for me. Too much time invested, too much “stress”.
Sure, I only spent two months trying, but I learnt that scalping was not for me. Too much time invested, too much “stress”.
In that week, bitcoin had broken out from the chop range, and I felt confident it was time to deploy my trusty swing trading techniques again.
I already accumulated spot in the range, marked out my levels and waited patiently for that 40k retest to scoop some call options.
I already accumulated spot in the range, marked out my levels and waited patiently for that 40k retest to scoop some call options.
And then we went back to 60k, and the story becomes present tense.
As you can tell, I am not an expert, not experienced and have most certainly not “made it”.
But that’s not how I measure success. Looking back to where I was 1,5 years ago, I have learnt more than I ever did before, and made a (for me) significant amount of money.
But that’s not how I measure success. Looking back to where I was 1,5 years ago, I have learnt more than I ever did before, and made a (for me) significant amount of money.
Nevertheless, I frequently suffer from what is called imposter syndrome.
Having so many people look up to me while I know I’m a fuckin noob is weird.
Don’t get me wrong, I consider myself a decent trader and God knows I’m profitable, but still.
Having so many people look up to me while I know I’m a fuckin noob is weird.
Don’t get me wrong, I consider myself a decent trader and God knows I’m profitable, but still.
It feels weird to have people consider you an “expert” while only having been at it for such a short period of time.
There are days where I feel confident in my abilities, and happy with where I am, and there are days where I feel like a massive fraud with way too many people looking to him for answers he does not have.
This will probably stay for a long time, and I’ve come to accept that’s just the way it is.
It’s my journey. I’ve been learning, and I will continue to learn, build, and improve while sharing the shit I learn with you.
It’s my journey. I’ve been learning, and I will continue to learn, build, and improve while sharing the shit I learn with you.
I am still only 22 years old. Not rich, but plenty of reason to be happy with where I am so far.
Here’s to making money & learning new things.
Here’s to making money & learning new things.
Read the story in article form on Medium:
@cryptojellenl/heading-into-the-unkown-e63f17b1bb7c" target="_blank" rel="noopener" onclick="event.stopPropagation()">medium.com
@cryptojellenl/heading-into-the-unkown-e63f17b1bb7c" target="_blank" rel="noopener" onclick="event.stopPropagation()">medium.com
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