Forwarded from Birds of a Feather
Couple of things that I think will simultaneously hold true for the foreseeable future:
1. Crypto is the best casino for people to gamble themselves in wealth.
2. 99.9% of all tokens minted are absolutely useless and will trend to zero.
3. We are still feeling the excesses of 2021 in alt prices and will continue to do so for awhile longer.
4. Equities is neither easier nor more difficult than crypto. It is a completely different game.
1. Crypto is the best casino for people to gamble themselves in wealth.
2. 99.9% of all tokens minted are absolutely useless and will trend to zero.
3. We are still feeling the excesses of 2021 in alt prices and will continue to do so for awhile longer.
4. Equities is neither easier nor more difficult than crypto. It is a completely different game.
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Forwarded from Ditto's Anecdote
X (formerly Twitter)
Fede’s intern 🥊 (@fede_intern) on X
Humanity is completely unprepared for what's coming.
I've been talking with partners, employees, and countless people over the last few weeks. I'm amazed by most people's inability to adapt or even grasp second order effects of what's coming. They don't…
I've been talking with partners, employees, and countless people over the last few weeks. I'm amazed by most people's inability to adapt or even grasp second order effects of what's coming. They don't…
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Forwarded from Crypto Narratives
One tip I find useful for the perma-bulls (ie most crypto-natives, let's be honest...) is to always make sure that you don't have a long position open on at least one of the three majors (BTC/ETH/SOL), so that you can use it as a hedge short when the market feels fishy
If you're overall net long but kinda feeling that the market might rug, and you don't want to close your positions at loss because of loss aversion bias... then you can just add size on an ETH short (for example) to hedge your account
Use a tight SL and it will work pretty well.
How many times did you look at the ETH chart after a dump and think 'wow that was actually so easy for bears, they never even had to sweat'? The reason you were on the wrong side is mostly that you were already in long positions and unable to close (and reverse)... one sized up short on a major can dramatically improve the end result for you in this situation.
If you're overall net long but kinda feeling that the market might rug, and you don't want to close your positions at loss because of loss aversion bias... then you can just add size on an ETH short (for example) to hedge your account
Use a tight SL and it will work pretty well.
How many times did you look at the ETH chart after a dump and think 'wow that was actually so easy for bears, they never even had to sweat'? The reason you were on the wrong side is mostly that you were already in long positions and unable to close (and reverse)... one sized up short on a major can dramatically improve the end result for you in this situation.
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