AMA: Profitable Crypto Derivatives Trader
The initial Cap was 30L. Right now, last month's total PBT was $37k
Hello, thanks for doing this (btw did you really start this at 6 am??)
Couple of questions:
1) 30L in initial capital - how did you amass that? When did you start?
2) Do you do this full time? How many hours does it take up?
3) Any advice for a noob in terms of whether they should hold crypto? (had invested 10% of my savings in Bitcoin and Ethereum)
Thanks a lot!
BigTimpani29
Stealth
a year ago
You can farm airdrops and make money to start (I got 7L recently in the $ARB airdrop for being an early user e.g.) tens of thousands of people made 5-6 figs usd with just airdrops.
Only invest into crypto what you’re willing to lose completely, when you’re younger you can invest more because you’ll have higher risk appetite. But basically think of it as a black hole. When your crypto net worth goes higher than your Fiat net worth, rebalance and take money out.
angryceo
Stealth
a year ago
Well, Well, woke up at 5:30 am today. Noticed the Inc 42 feature. Therefore, the post-time happens to be at 6.
1) Initial Capital was mostly my past gains (I sold a SaaS for $25k through acquire.com). It was nothing but mostly an MVP with some database.
2) Used to be a day trader. Therefore, tracked markets religiously (around 14-16 hours at peak). Recently (except last month), been a passive follower, just 1-2 swing positions.
3) Not Financial Advice: I consider DCA bullshit; markets are just ranges. With the current macro, cash is king.
Suggest buying great lows at RLs.
Not an ardent follower of 100x tokens, most of the times, you'll be the exit liquidity.
BTC is more of a commodity; you can always accumulate. ETH will have mass adoption; layer 2 solutions are already scaling it.
For most other projects, get a strong fundamental analysis and then only invest.
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BigTimpani29
Stealth
a year ago
Crypto enthusiast here, BTC in 2013, eth 2017 and made good gains in the last bull run. Thoughts on establishing a trading entity abroad (with 0% capital gains tax or low corporate tax) instead of trading in India? I’ve paid a fuckton in taxes in India and don’t see the govt giving back in terms of public goods etc anytime soon.
angryceo
Stealth
a year ago
Well, Well, the Indian Govt surely fucked our community. I suggest opening an LLC in Dubai - the adoption has been good, and the taxes are not that bad.
You can check out other locations too, C-Corp in Delaware (doesn't make sense as a trading entity tho), LLC in Seychelles and Mauritius.
angryceo
Stealth
a year ago
Question: What are you currently hunting? Thinking of the ZkSync airdrop?
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its_a_me_mario
Stealth
a year ago
Lambo when ?
angryceo
Stealth
a year ago
2024 Bitcoin Halving. Just kidding, lol 😂
What according to you are the top use cases of crypto as it stands in 2023?
Clearly seems like NFT and DAOs and stuff didn’t work out at all. No government is being run using dao.
Genuinely curious. Not looking to take a dig
BigTimpani29
Stealth
a year ago
NFTs have worked out and will eat most asset classes. Nike, Fortnite, Starbucks are using NFTs in their core products and so many more. DAOs I agree suffer from governance issues and it’s only useful for very niche use cases.
angryceo
Stealth
a year ago
Adoption of the top networks should build the foundational layers. Moreover, I see growth in zero-knowledge proof.
NFTs had their market cycles; many companies are embracing that. However, utility-based solutions will indeed become mainstream sometime.
For example, one of my friends is building a company where enterprises can generate certificates in the form of NFT. This shit can really change the landscape of forged certificates.
Furthermore, I'm bullish on mixed reality. It feels like projects like Otherside Meta will go mainstream, and Web3 gaming will have loads of traction too.
DAOs didn't work out. Most are a sham; however, niche-based use cases are working out.
PS: 99% of projects will die, and the 1% will thrive and have adoption. It's just about time and market cycles
angryceo
Stealth
a year ago
Mostly Binance. Liquidity Grab Pools are on DYDX/Uniswap.
BigTimpani29
Stealth
a year ago
I personally only use DEXes, there’s cool options like GMX etc. apart from the usual uniswap AMMs. CEX trading in India comes with 1% TDS on the entire volume which is lame imo. Also CEX is exit liquidity for crypto natives. You could buy $pepe at $3M mcap on uniswap and by the time Binance or any CEX listed it, it was $600m to $1B mcap
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Changemaker
Stealth
a year ago
Why do make people fool?
angryceo
Stealth
a year ago
What's about making people fool? Not shilling anything, just a genuine share
Shawnmendes
Stealth
a year ago
Is it worth it to invest in crypto right now or major gains have been made already?
If yes, how can one find steps to do so
BigTimpani29
Stealth
a year ago
If you buy when moneycontrol is talking about bitcoin being at all time highs, people going crazy and everyone getting rich off crypto, then you deserve to lose your money. Buy when no one gives a shit and it’s written off as a dead market, sell when no one wants to sell
angryceo
Stealth
a year ago
HAHHAHA, I'm dead reading this 🤣
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FancyChino64
Stealth
a year ago
1. do you think you may go into loss in future?
2. do you think you are lucky to get profit or you are talented
angryceo
Stealth
a year ago
Had losses in the past caused by poor risk management with high lev
Trading is a zero-sum game. There's no luck; the best thing you can do is mitigate the risk and focus on capital preservation. Profits are a byproduct.
angryceo
Stealth
a year ago
Profit before taxes
1. What kind of trading do you do? Arbitrage?
2. How do you handle sentimental swings, like Musk tweeting something?
3. Not looking for insider trading, but how to find reliable channels for 'somewhat' useful info on market?
angryceo
Stealth
a year ago
- Mostly a simple range trader with less than 1% risk on every position. My liquidity levels are almost 0 on longs.
- Dont trade shitcoins; Musk's tweet doesn't do shit. However, the CPI and FOMC undoubtedly affect positions. I tend to be out of the market during that and just be a popcorn watcher
- Day Trading is mostly based on TA. Understand TA and track markets religiously. Read some books if you can.
Thank you for your response.
What's your comment on Arbitrage trading bots? I feel they are a nice convenience but several trading and processing fees makes me question their feasibility. Did I mention tax?
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ninja_analyst
Stealth
a year ago
Loomdart follows me , Have I made it ?
angryceo
Stealth
a year ago
Damn, bro’s active on Twitter
ninja_analyst
Stealth
a year ago
Naah bro. Nothing much .
That arb airdrop was juicy . And I missed pepe at 500k$ MC bro. Later it ran to 1.5 bill MC 🥲
I am too lazy to farm airdrops , any suggestions what you been farming ?
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Congrats, that's impressive, do you trade perp or options? and where do you trade? have you tried defi perp like gmx or gains on arbitrum?
angryceo
Stealth
a year ago
Mostly Perps on Binance. Occasionally on DYDX and Uniswap.
JauntyAuthor
Stealth
a year ago
Nice!
Do you write your own algo bots for trading or do you trade completely manually? I've been interested in writing bots and been looking into MEV as well, however there's a huge lack of resources.
angryceo
Stealth
a year ago
Manual as of now. Trying to figure out automating the process with algo bots.
How did gain your trading skills? Any blogs/courses/playlists you recommend?
angryceo
Stealth
a year ago
Blogs or Courses are supplementary materials. I generally read blogs as news sources.
You can certainly take a course on TA. Even tho I'll suggest reading TA by Murphy. It's a GEM.
The majority of the learning is through experiences. Trading and tracking your trades through a journal is crucial.
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angryceo
Stealth
a year ago
EMAs (Weekly): 9 and 12
MA (200)
Stoic RSI and RSI
HyBlock to track liquidation heatmaps
steppenwolf
Stealth
a year ago
Hi, It's nice to see a fellow trader here on this app :) I have been actively trading in Indian markets for quite some years now.
It would be great if we could have a channel or group here related to trading. I would like to learn and share.
angryceo
Stealth
a year ago
What do you trade in general? Group/Channel sounds fine only if people share their own shit and don't shill stuff.
steppenwolf
Stealth
a year ago
I mainly trade in Indian Equity markets and Index futures(Nifty,Bank nifty). I do discretionary trading.
I mainly do positional trading(Holding period 8-12 months), Swing/Short term(15 days to 2 months) and Index future.
Mainly my focus is to build long term wealth through trading/Investing hence i stay away from intraday, options trading completely.
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randomadvert
Stealth
a year ago
Where do you purchase crypto from? Usually dex like Uniswap provide a purchase option but it takes to Moonpay and I am unable to buy anything there. Is there any platform where I can avoid the 1% tds and high platform service fees?
I want to buy crypto and also be able to transfer to an address whilst maintaining the anonymity
angryceo
Stealth
a year ago
Just buy it from any DEX like Uniswap/PanCake Swap and transfer it to a hard wallet like Ledger/Trezor. This works out best if your goal is to HODL.
angryceo
Stealth
a year ago
You’ll always have one of these TradFi guys 😭
As someone who's just graduated, how do you start investing? What strategy should one follow? Any good resources to get started? Also, what risks should one keep in mind?
angryceo
Stealth
a year ago
I'll give one piece of advice: DON’T TRY TO BE RICH AT ONE GO.
Since I'm a cryptobro, I understand it and enjoy the shit.
Try exploring different financial markets and asset classes. Explore and then prepare your portfolio according to your risk appetite.
If everything sounds complicated, just go invest through a wealth management app like Dezerv. (Min Investment is around 50k).
Bojackboredman
Stealth
a year ago
What are all the tools you use to make data driven decisions?
angryceo
Stealth
a year ago
Just trading view and hyblock mostly.
But to find great shitcoins early (not for trading), there goes a lot of research.
For FA and investments, I track on-chain data and use multiple tools.
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