This week I interviewed a short-term Bitcoin trader, who goes by the alias of ‘BTCVIX’.
As you can imagine, this episode is a little different – this is an area (or should I say, a market) we haven’t yet explored on the podcast, in past interviews.
With that being said, I found this discussion to be really interesting and I’m certain you will also. Some of the topics we spoke about include:
- Why VIX went from initially trading stocks and options, into Bitcoin markets – the Wild West.
- We spend plenty of time discussing the landscape of Bitcoin; about how the digital currency is ‘mined’, how inflation is hard coded in the ‘ledger’, and the real ‘counter-party risks’.
- Changing the way you may think about consistency, and understanding non-linear outcomes within your trading results.
But that’s just a quick sample of topics ahead – hit the ‘play’ button to learn more about the deep realm of cryptocurrencies.
“When you recognise that emotion is affecting trading, you have to have some defense mechanism.”
Lessons learnt in this interview:
- BTCVIX shares his early trading experiences, jumping between; penny stocks, biotechs, and options – before discovering Bitcoin.
- By definition, BTCVIX explains ‘what is a Bitcoin’ for those who are unfamiliar, and what lead him into actively trading Bitcoin markets.
- Why traditional technical analysis may be more applicable to Bitcoin, and who are the key players in this market.
- BTCVIX speaks about the idea of ‘Trader Amnesia’ – a simple (yet effective) concept that has helped him to treat each day without bias.
- The types of news and events that can impact the price of Bitcoin, and a brief history lesson about one of the first real-world uses for this digital currency.
- How Bitcoin is ‘mined’, what does the ‘block’ refer to, and how inflation is hard-coded into the ‘ledger’.
- Why someone would choose to trade Bitcoin over listed markets – and what are the benefits, barriers to entry and risks.
- Thinking about consistent profitability in non-linear terms, and how this was a game-changer for BTCVIX.
- Plus much more…
Links and resources mentioned:
- The Black Swan by Nassim Taleb – BTCVIX is a great fan of Nassim’s work, and this title helped him to stop thinking in linear terms.
- Antifragile by Nassim Taleb – A more-recent book from Nassim, written to help you thrive in uncertainty, which BTCVIX also highly recommends for traders.
- WhaleClub.org – A 24/7 Bitcoin trading community and discussion of 200+ members from over 25 countries; BTCVIX was one of the founding members.
- Telegram Messenger – An alternative platform for the WhaleClub Teamspeak, using the Telegram app so you can be involved with the group on any device.
- @BTCVIX – And be sure to follow BTCVIX on Twitter!
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