A preferred algorithmic crypto dealer who makes use of the pseudonym Altcoin Psyscho is spotlighting a brand new crypto asset, whereas additionally outlining his crypto buying and selling technique.
The dealer tells his 134,000 Twitter followers that he’s bullish on the freshly launched perpetual derivatives protocol AntiMatter (MATTER).
“For many who didn’t get in on the presale: Matter is breaking out of its accumulation vary.”
In a brand new interview on Market Meditations, the dealer dives extra deeply into his strategy for tackling the crypto markets.
Altcoin Psycho says that he’s most worthwhile throughout occasions of excessive volatility, and that his closely-followed cryptocurrency trading bot will get “killed” when the volatility ranges go down.
“My bot’s primarily a momentum breakout buying and selling bot… which is an efficient and a foul factor relying on what promote it’s in. If the market’s flat, it’s going to get killed as a result of there’s plenty of false breakouts that simply flip to wicks. Or there’s no breakouts in any respect, proper.
So my bot thrives off volatility – it doesn’t matter if the market’s going up or down. I’m happiest when the market’s trending as a result of which means my numbers are essentially the most worthwhile.
… [It] appears to be like at volatility after which it appears to be like at pattern on a excessive timeframe and at a low timeframe for double affirmation. It’s a 12-hour swing bot, proper… it’s reliant off, you recognize, 20-30% strikes somewhat than like 1% or 2% strikes.”
The dealer says he developed the buying and selling bot to reap the benefits of the crypto market’s round the clock nature and to utterly eradicate the danger of emotional decision-making. He warns that following his bot and buying and selling within the crypto market is extraordinarily high-risk and is appropriate solely for individuals who can abdomen giant capital drawdowns.
“I actually simply wished a option to automate my buying and selling model as a result of… one, it’s only a ache to all the time be watching the market particularly in a market that by no means sleeps like crypto. And the second factor is, it’s actually exhausting to good your buying and selling psychology – to have emotional management particularly when there’s plenty of volatility. And that’s when the bot is most worthwhile.”
The dealer says his system is designed for safer merchants that additionally wish to entry high-risk performs with out worrying about getting too emotional in regards to the market.
“… my algo is just not designed to have low drawdown. It’s designed to be a excessive revenue bot… as sort of a hedge in somebody’s technique that they’ve a extra conservative model.
…the bot is an ideal match for somebody that’s extra of a conservative dealer they usually wish to hedge that technique with one thing that’s a bit excessive threat. However they really feel like they don’t have the emotional management to take action.”
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