Prepare for the Crypto x AI Supercycle w/ Alex Good
Feb 25, 2024
auto_awesome
Alex Good discusses using Google advertising data for profitable crypto trades, shares bull case for crypto & AI in 2024, heuristics for rigged markets. Explores market rigging, AI in crypto market, adapting strategies, and advice for retail traders. Taiki founder of HFAResearch aims to create high-quality DeFi content. Podcast delves into trading insights, market manipulation, and AI coin investment analysis.
By focusing on AI coins within the crypto market, traders can gain an edge through early involvement in AI native L1 protocols and network rewards.
Acquiring technical expertise in AI-crypto overlaps, such as setting up GPUs and engaging in training jobs on platforms like Tau, can provide significant advantages in the industry.
Maintaining disciplined risk management practices, avoiding ego traps, and focusing on continuous learning are crucial for long-term trading success.
Deep dives
Focus on AI Coins for Edge
To gain an edge in trading, aspiring traders and investors are advised to focus on AI coins within the crypto market. Delving into AI native L1 protocols and understanding their underlying tech and networks can offer unique opportunities for early mining, receiving token allocations, and engaging in network rewards before tokens hit exchanges. By immersing in upcoming AI coins and actively participating in the networks at an early stage, traders can exploit untapped potential and stay ahead of evolving trends.
Adapt to AI-Crypto Space
Adapting to the AI-crypto space involves technical prowess, such as setting up GPUs, engaging in training jobs on platforms like Tau, and being involved in pre-mine activities. By acquiring expertise and familiarity with AI-crypto overlaps, traders can gain significant advantages in understanding and navigating this transformative industry. They are encouraged to focus on technical aspects and seize opportunities like network rewards to stay ahead of the evolving landscape.
Risk Management and Process Discipline
Emphasizing risk management and process discipline is crucial for trading success. Traders should implement strict position sizing rules, cut strategies that underperform, and prioritize signal quality in decision-making processes. By subjecting strategies to quantitative tests, continuously monitoring signal quality, and adhering to structured risk management practices, traders can enhance their chances of long-term success and avoid pitfalls like overexposure and unreliable signals.
Avoid Ego Traps and Generalizations
To maintain trading discipline, traders are advised to avoid ego traps, such as overconfidence and seeking external validation, especially during market cycles. Instead of succumbing to ego-driven decisions, traders should focus on continuous learning, process evaluation, and remaining detail-oriented. By staying humble, evaluating setbacks objectively, and learning from mistakes, traders can cultivate a resilient mindset and adapt effectively to evolving market conditions.
Specialize and Do What Others Avoid
In the competitive world of trading, specialization and willingness to undertake tasks others avoid can create unique opportunities. By focusing on niche areas like yield farming or specialized strategies within the market, traders can gain an edge by delving deep into neglected areas. Embracing the mindset of doing what others shy away from, whether it's in-depth research, technical setup, or unconventional strategies, can lead to distinctive advantages and potential breakthroughs in trading endeavors.
Episode 14 of Crypto Market Wizards, a new interview series focused on crypto traders in the trenches of the liquid markets. Today we have Alex Good talking about how he uses Google advertising data to determine profitable trades in crypto.. He shares his bull case for crypto & AI in 2024 and his heuristics for rigged markets.Crypto Market Wizards is an ad-free and sponsor-free podcast.Guest's Twitter: https://twitter.com/goodalexanderGuest's Writing: https://goodalexander.com/
Premium Discord: https://whop.com/humble-farmer-army
Free Newsletter: https://hfaresearch.substack.com/
Taiki's Twitter: https://twitter.com/TaikiMaeda2
HFAResearch Twitter: https://twitter.com/HFAresearch
Taiki's Twitter: https://twitter.com/TaikiMaeda2
Free Telegram: https://t.me/+3LgpNxIgJ4IzY2Fh
HFA Research Dashboard: https://hfaresearch.io/
Stake DYM with HFA: https://www.youtube.com/watch?v=L7qiSXpt47E
PODCASTS:
Crypto Market Wizards: https://www.youtube.com/playlist?list=PL6bwqqJO_txgGQySGK5-HSuTPp0LjeGqA
Steady Lads: https://www.youtube.com/@0xSteadyLads
Taiki is the founder of HFAResearch, a DeFi-focused research company founded in 2021 with a mission to create high-quality, digestible content that helps separate signal from noise for DeFi enthusiasts. We were frustrated with the lack of authentic educational content on Crypto YouTube/Twitter and took matters into our own hands.
Timestamps:
00:00 Alex's Background
02:31 Profitable Trading by Running Google Ads
07:22 Building Conviction
10:38 Navigating Rigged Markets
16:18 The Upcoming Crypto x AI Superbubble
33:11 Defining Alex's Edge39:06 Successful Traders
41:35 Common Trading Mistakes
47:32 Trading Rules & Managing Emotions
54:08 Advice to Younger Self
56:16 How to Make it this Cycle
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode