Speaker 2
It's like, we nobody's a crystal woll now er. What about, like, transitioning from a charting point of view to o crypto? Did you have to do anything different, or was it pretty sameless? Yes,
Speaker 1
the chartes is basically the same. The only thing wo cryptos, everything is accelerated. So, for instance, with stocks, you define a bare market by a drawdown of 20 % or more, right? That's just like a tuesday night for a big hoin. So it's like, you know, trying to define whether something is in a bare market or not. You cannot use the same definitions that you would in stocks for crypto trading. The charts themselves, the patterns, all that stuff, they are transitional, a or, i guess, a, relatable. But the moves are way more violent, and you have to be conscious of that. And, and you cannot, because it's a 24 seven market, you can't leave big laberage positions open either. A, aint got to sleep comfortable, i suppose,
Speaker 2
if you've probably had to likeer enact, you know, moving from this options world where you've got obviously points where you get out, but you obviously had to get its, you know, straight there's no option as you're innd, you're out. A, how do you had, how's your sort of a risto reward look like on a crypto trade?
Speaker 1
Am, well, what do you mean
Speaker 2
o enthis like, you stop lost verses? Yo, tigt profet. Mean, what's the difference in size?
Speaker 1
Right? Ah, that's a good question. It is all relative, it it really is basedn what's going on on the chart, to be honest. A, but you do have to allow yourself a lot more leeway in crypto m and then they're because the coefficient with cryptos so bad. The genie coefficient is basically a how distributed is that asset, right? And bitcoin has one of the worst genie coefficients of any asset on planet earth, meaning that only a handful of people own most of it. So it's very easy to manipulate bitcoin. You see that all the time, right? It's so easy, especially with the introduction of bitcoin futures, it's so easy to manipulate bitcoin. Like if i was a bitcoin whale and i owned billions of dollars worth of bitcoin, and there's a handful of people ta that are in that position. A, you can easily short bitcoin on the future market, right? Dump your bitcoin on the open market, tank the price of bitcoin bank on those futures contracts, and then buy back bitcoin at a discount. That stuff was happening a lot, especially with the introduction of bitcoin futures in 20 18. A, so, you know, it's very easy to get wicked out on on crypto, which is why i don't trade it any more in an active manner. I still buy it. I still, you know, buy dips o on major crypto assets. I i'll trade it every once blue moon, but i don't, i'm not active like i was o backo o day, where i was constantly trading it