Lessons On Trading Crypto From Yusuf, A Successful Intraday Trader
Most people dream about getting stupid rich trading forex and investing in the stock market. 99% of these people lose money practically all the time. The remainder 1% who make it have mastered the art of discipline and technical analysis.
Yusuf is in this 1% bracket. He has taken his full time trading element a notch higher and is currently making a killing trading Crypto currencies. We hooked up with him and had a nice interview about how he does this, his journey so far and what it feels like to be able to make a living as a full time day trader.
Yusuf’s backstory and how he got into trading
Yusuf interest began with what you would call a misplaced failure. He met someone who promised him returns on his first investment in the forex space. He lost the money but gained interest in the business. He started off doing research and in the process, he lost a lot of money in some instances and gained a lot more in others.
He knew that his fortune would be made trading currencies and before long, the business was making him enough money to enable him quit his formal job and become a full time day trader.
The major lesson he learnt during this stage was that no matter how good one was, you are bound to lose some trades and win others. What matters is to have more wins compared to loses so that you can have a positive aggregated demand. Most successful ones win between 60–80% of their trades. Yusuf averages about 70% wins.
Yusuf’s perception on trading Cryptos
Managing a trade is the key to making money as a forex trader. Yusuf states that opportunities in trading are practically limitless and the most important bit is to be able to identify the gaps and get in and exit at the right time.
You have to understand when to enter or exit depending on what the market tells you. Fighting the market is the key ingredient to certain failure.
Yusuf’s favorite crypto is bitcoin (BTCUSD pair) and for good reason. He makes money on the coin’s volatility, riding bullish waves or shorting bearing ones. He specializes in intraday trading, on a 2-hour time interval. According to him, the interest in crypto is so intense and this is a goldmine for people who know the markets well.
Crypto owners can also take advantage of the volatility of the coin and make money whether the market is down or up.
Quote: It doesn’t matter whether the coins are rising in value or decreasing. I will sell them when the value is going down and make some extra bucks and buy them again on the rebound.” Yusuf.
Trading crypto is more profitable compared to currencies because they have a higher volatility index and people are reactive to news on these crypto a lot. One thing Yusuf notes is that the future where crypto and block chain technology will be the power behind every single transaction is coming and it is inevitable. The power of block chain technology is changing systems, challenging the way people act, trade, invest and conduct their everyday affairs.
Yusuf is a member of the Black Crypto Investing Group. To learn more insights and see live trades on BTC and Lite coin, check out the video interview below.
