In this episode of UpOnly, Cobie and Ledger are joined by Kaleo, Rookie, Loma, Altcoin Psycho, and Mayne to talk about trading. Don't miss it.
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- How do you feel about your tweets being self fulfilling prophecies? – All in agreement that it happens. Cobie says it’s great for clout building to share positions as a profitable trader.
- Cobie – Dogecoin has become a MintPal pump, except now it’s the entire world focused on the asset – legitimised by Elon etc. Cobie believes it’s now possible that Doge won’t follow previous cycles.
- Bollinger Bands creator (John) helped save Cobie by DM-ing about his euphoric tweets at a local top
- Trading Strategies:
- Mayne: Changed a lot over the years, taught by Kaz about TA. Trades price action, horizontal levels, order blocks.
- Lomah: Mainly trades price action, struggles with trading price discovery without the levels.
- Psycho: Price action also, when trading price exploration – two tools for building an edge is mean reversion and using a modified parabolic indicator that he built. Acceleration factor, when it breaks the parabola it tends to be when a dump will happen.
- Rookie & Kaleo: Simplistic, looking at S/R levels and past liquidity. Taking profits on the way up to lower stress.
- Cobie – On Price Exploration: Look at leverage positions, open interests current P&L, where will they look for profits and exits. That’s the levels, future is written out for you.
- Ledger brings up altcoin leverage – targets and time frames are lower. How do you manage differently vs spot.
- Lomah: Level to level, if he sells early he struggles to get back in. You can’t sleep well in leverages positions, spot bags help.
- Kaleo: Agrees, moved a lot into spot, peaceful and feels better. Not the same hit as big leveraged swings but don’t get too greedy with it.
- Rookie: after you get to a certain point, leverage trading is a sacrifice on mental health. If you’re aping in at this point with your net worth it’s just gambling.
- Mayne: Agrees it is gambling.
- Cobie: the start of the cycle is when to make use of leverage, more obvious invalidation. As cycles progress, confidence using leverage as the price goes higher.
- Psycho: Majority in spot, not the environment to be trading leverage
Music by GiovanniPickle