A Whale's Guide to Crypto Trading (2014) [pdf]

A Whale's Guide to Crypto Trading (2014) [pdf](cryptofrenzy.files.wordpress.com)

57 points by js7745 8 years ago | 20 comments

jshaqaw 8 years ago |

There is nothing new under the sun: https://en.m.wikipedia.org/wiki/Reminiscences_of_a_Stock_Ope...

FabHK 8 years ago | |

The Reminiscences were a bit better written, though.

travmatt 8 years ago | | |

I'm not a trader but that still stands as one of my favorite books, it's wonderfully written

abecedarius 8 years ago |

Skimming over something like this from a self-proclaimed manipulator, question #1 is why are they telling us? I didn't see that addressed.

rublev 8 years ago | |

Most likely leaked from a private channel. Lots of these types of little documents.

mahmud 8 years ago | | |

Or more likely, some imaginative fanboy wrote it. Like much of the espionage / military / conspiracy articles. There is a heavy demand for literature that makes people feel knowledgeable and significant.

gt_ 8 years ago |

I hate that the poor grammar gives me an impression that the info is more valuable. But, it does.

schtitt 8 years ago | |

Did you mean the opposite here or do you really get the impression that info with grammar mistakes is more valuable?

gt_ 8 years ago | | |

Normally, I would only mean the opposite but in this context, my intuition was to allow the shady trader to value numbers and their own time over words and grammer.

Not that this reasoning is useful AT ALL but I guess I was frustrated with myself for looking beyond poor grammar. Normally I stick to realms where grammar is highly valued but like many of us, I am making an effort to learn more about currency markets these days. It is a culture shock.

alexcnwy 8 years ago | | |

"Substance over style"

bgitarts 8 years ago |

This is some great fiction but, despite some factual flaws this modern day Jesse Livermore need only remember the original died broke blowing his brains out.

stanleydrew 8 years ago |

Reading this I'm struck by a bit of sadness that this kind of market manipulation is the way some obviously not-entirely-dumb people choose to use their time. But I guess manipulation of a market for personal gain isn't too terribly different from manipulation of people's emotions via reality TV in order to sell ads.

21 8 years ago | |

Unlike real world financial markets, what happens on crypto markets at the moment doesn't really impact anyone which doesn't choose to be impacted.

Meaning nobody is forced to trade DOGE, so if you can't handle the heat, don't enter the kitchen.

More interestingly to me, nobody would enter a sprint race again Usain Bolt, or even a national-level athlete, because they know they would lose, but somehow, they believe that they can enter the financial or crypto markets, not realizing that it's exactly the same thing, most likely they have exactly 0% chance of being profitable over the long run.

There was a funny (sad?) documentary about retail traders, and I remember a mom which traded from a small laptop while also taking care of her small kids at the same time. You can imagine how well that ended. She probably didn't even realize that she's trading against armies of very smart people who do this 24/7 and have a lot of resources and experience.

stanleydrew 8 years ago | | |

I'm not sad that foolish people are losing money due to market manipulators. The same people trading DOGE would otherwise be playing online blackjack or something.

I'm just a little sad that the manipulators aren't motivated to put their brains towards a more useful cause. In the same way that I'm a little sad that Steve Wynn spends his time building casinos.

jliptzin 8 years ago | | |

Exactly. Whenever a friend tells me he is thinking of daytrading from home, I seriously tell him to go to Vegas instead. At least there, you know you're at about a 2-5% disadvantage depending on what game you play. In the market you're very likely disadvantaged much more than that.

Plus your laptop won't spit out free Coronas.

oh_sigh 8 years ago |

I'm curious how much the author purports to have made off their doge trading.

FabHK 8 years ago | |

If they made 100 satoshi/DOGE on 4 billion DOGE, that's 4000 BTC or several million USD.

zodiac 8 years ago | | |

Written in 2014 though