In this edition of The Trader’s Perspective we interviewed ₿-Eazy. He is a full time Crypto trader and the creator of taughtu. You can follow him on twitter and telegram. He shares his trading insights with us on how to be profitable in this exclusive interview.
Thank you for having me! Around 2014 was when I was introduced to trading through my curiosity in wanting to make more money. Like a lot of you I’m sure, I started by hearing about penny stocks and how all those guys were making a ton of money. I watched a bunch of youtube videos and learned some basics.
At that time I was still in college, so it wasn’t until a couple years later that I became more serious about it. In 2017 I heard everyone talk about Bitcoin. At work I would check the price every day and see it always going up. That’s when I finally bought my first crypto.
I get a lot of the same questions so I created my Telegram to help people out and teach a bit about how I trade. This allows me to go into a lot more depth than the character limit on my tweets. I’ve been quite busy lately so haven’t had a chance to update much but I plan to get back around to it.
Taughtu.com is a website I created to help beginners learn to trade. It was an idea I had last year to make things simple. I felt not very many people were doing what I had in mind, so I spent 2 months researching and learning how to build a website, write articles, etc. I’ve posted a bunch of interviews and articles with some of the top traders in crypto twitter. Check it out!
I’ve had a 6 figure trade before but lost most of it right after. It was rough but I learned a lot from it and it’s helped my trading going forward.
Emotions is the number one thing you have to master if you’re going to start taking trading serious. I let greed take control in that situation. The best thing to do after a big winning trade is to just take a break. Don’t let yourself get sloppy. Overconfidence leads to over trading, which leads to unnecessary losses.
To be honest, I’ve only started trading futures when I came into crypto in 2017 so not much has changed. I would like to see an exchange introduce lower fees.
Tough question. You can have the best mindset in the world, but if you don’t know what you’re looking at, you’re just going to keep losing. But also on the flip side of that, you could have the best strategy but if you keep doubting yourself and too emotional to make decisions, you’ll still lose.
You need both. If mindset and technical skills are both average, then I would definitely say mindset is more beneficial to be trained higher. The market doesn’t care, trading is a game against yourself.
For someone just starting out, I would recommend just learning basic support / resistance levels. Indicators are the first thing new traders run to because they think it’s going to tell them everything. Indicators should only be used as a supplement AFTER you determine your bias.
It’s important to figure out who you are as a person and your emotions to determine your trading strategy. Me for example, I am not very patient and I am better at quick in and out trades. So I like to enter as close to my invalidation level as possible. So my trading strategy is to wait until I see other people get stopped out in an area of interest, then I’ll jump in.
As the trade starts to go my way and form LTF support on the way up, I will move my stop to reduce some risk if needed.
Like I said, I try to enter as close as possible to invalidation so it varies. If I think the setup is good and will reach my target before invalidation, I’ll go for it. If my levels of interest to take profit aren’t at least 1:1 obviously then I’ll sit it out.
Size should be based on how far away your stop is. Before every trade tell yourself, “if I get stopped out, I’m okay with losing X dollars” then go from there.
I’ve never tried it so I can’t speak much on it, but I think it would be great during a bear market reducing your exposure. Because if Bitcoin is going down, you want to be holding USD.
Thank you very much and you as well. If anyone ever has any questions feel free to shoot me a DM on Twitter, they are always open 🙂
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