Top Crypto Investor Details Trading Strategy, Says One New Altcoin Is Already Showing Strength


A popular algorithmic crypto trader who uses the pseudonym Altcoin Psyscho is spotlighting a new crypto asset, while also outlining his crypto trading strategy.

The trader tells his 134,000 Twitter followers that he’s bullish on the freshly launched perpetual derivatives protocol AntiMatter (MATTER).

“For those who didn’t get in on the presale: Matter is breaking out of its accumulation range.”

Source: Altcoin Psycho/Twitter

In a new interview on Market Meditations, the trader dives more deeply into his approach for tackling the crypto markets.

Altcoin Psycho says that he is most profitable during times of high volatility, and that his closely-followed cryptocurrency trading bot gets “killed” when the volatility levels go down.

“My bot’s essentially a momentum breakout trading bot… which is a good and a bad thing depending on what market it’s in. If the market’s flat, it’s going to get killed because there’s a lot of false breakouts that just turn to wicks. Or there’s no breakouts at all, right.

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 because that means my numbers are the most profitable.

… [It] looks at volatility and then it looks at trend on a high time frame and at a low time frame for double confirmation. It’s a 12-hour swing bot, right… it’s reliant off, you know, 20-30% moves rather than like 1% or 2% moves.”

The trader says he developed the trading bot to take advantage of the crypto market’s round-the-clock nature and to completely eliminate the risk of emotional decision-making. He warns that following his bot and trading in the crypto market is extremely high-risk and is suitable only for those who can stomach large capital drawdowns.

“I really just wanted a way to automate my trading style because… one, it’s just a pain to always be watching the market especially in a market that never sleeps like crypto. And the second thing is, it’s really hard to perfect your trading psychology – to have emotional control especially when there’s a lot of volatility. And that’s when the bot is most profitable.”

The trader says his system is designed for safer traders that also want to access high-risk plays without worrying about getting too emotional about the market.

“… my algo is not designed to have low drawdown. It’s designed to be a high profit bot… as kind of a hedge in someone’s strategy that they have a more conservative style.

…the bot is a perfect fit for someone that is more of a conservative trader and they want to hedge that strategy with something that’s a bit high risk. But they feel like they don’t have the emotional control to do so.”

Don’t Miss a Beat – to get crypto email alerts delivered directly to your inbox

Twitter, Facebook and Telegram

Surf cryptotrade247.eu Mix


Disclaimer: Opinions expressed at cryptotrade247.eu are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. cryptotrade247.eu does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is cryptotrade247.eu an investment advisor. Please note that cryptotrade247.eu participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc





Source link

SEE THIS

%d bloggers like this: