This week I interviewed a short-term Bitcoin trader who goes by the nickname ‘BTCVIX’.
As you can imagine, this episode is a bit different – this is an area (or should I say, a market) that we have yet to explore on the podcast, in previous interviews.
With that said, I found this discussion very interesting and I’m sure you will too. Some of the topics we talked about include:
- Why the VIX went from initial trading of stocks and options, to Bitcoin markets – the Wild West.
- We spend a lot of time discussing the Bitcoin landscape. about how digital currency is ‘mined’, how inflation is hard-coded into the ‘universal’ and the real ‘counterparty risks’.
- Changing the way you think about consistency and understanding non-linear effects in your trading results.
But this is just a quick sample of topics to come – hit the play button to learn more about the deep realm of cryptocurrencies.
“When you recognize that emotion affects trading, you have to have some kind of defense mechanism.”
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Lessons from this interview:
- BTCVIX shares his first trading experiences, jumping between. stocks, biotechs and options – before you discovered Bitcoin.
- By definition, BTCVIX explains “what is a Bitcoin” for the uninitiated and what drives it to actively trade Bitcoin markets.
- Why traditional technical analysis might be more applicable to Bitcoin and who are the key players in this market.
- BTCVIX talks about the concept of “Trader Amnesia” – a simple (but effective) concept that has helped him face each day without prejudice.
- The kinds of news and events that can affect the price of Bitcoin and a brief history lesson on one of the first real uses of this digital currency.
- How Bitcoin is “mined”, what a “block” refers to, and how inflation is hard-coded into the “universal”.
- Why would someone choose to trade Bitcoin over the listed markets – and what are the benefits, barriers to entry and risks.
- We think about stable profitability in non-linear terms and how this has changed the game for BTCVIX.
- Plus many more…
Links and resources cited:
- Nassim Taleb’s Black Swan – BTCVIX is a big fan of Nassim’s work and this title helped him stop thinking in linear terms.
- Antifragile by Nassim Taleb – A latest book from Nassim, written to help you thrive in uncertainty, which BTCVIX also highly recommends to traders.
- WhaleClub.org – A 24/7 Bitcoin trading and discussion community with 200+ members from over 25 countries. BTCVIX was one of the founding members.
- Telegram Messenger – An alternative platform to WhaleClub Teamspeak, using the Telegram app so you can engage with the team on any device.
- @BTCVIX – And be sure to follow BTCVIX on Twitter!
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