Finding Edge With Discipline and Patience With Andrew Wilkinson — Set Social Trader Spotlight
Welcome to the Set Social Trader Spotlight Series. In these posts, we’ll give you an insight into our launch traders that’ll be on the Set Social Trading platform once it goes live in the next few weeks. Learn more about Social Trading here.
Today, we've got an interview with Andrew Wilkinson for all of you to enjoy.
Hi Andrew, nice to have you. Can you give us an intro of yourself?
Hey, I’m Andrew behind TradespotSignals and I have been in the crypto space for about 3.5 years now both contributing time to various project events, doing freelance development work and trading on the side. It’s an incredibly exciting space and despite market conditions, countless projects are starting to realize their whitepaper proposals taking the technology out of speculation and into commercial use. I consider myself lucky enough to work as a Blockchain Software Engineer on some undisclosed financial projects and get to see the problems we’re solving every day and develop them.
I’ve been trading profitably for the duration of my time in the crypto-sphere by simply doing two things many traders lack: patience and a strategy above all else. By taking emotions out of your trading, having a strategy for your entry and exit points, and having the patience for the trade to materialise I truly believe more people could be profitable traders but crypto has unfortunately clouded a lot of minds regarding 100x gains in a week or using extremely risky levels of leverage on one of the most volatile assets in the market.
“I’ve been trading profitably for the duration of my time in the crypto-sphere by simply doing two things many traders lack: patience and a strategy above all else.”
I saw that you made tradespotsignals.com that provides free trading signals using a mixture of fundamental, sentiment, and technical analysis. Can you talk more about this and how it works?
My website TradespotSignals is a great side project of mine, I set it up as a medium to share my trading ideas for free and want to expand it to build a community, post supporting charts and offer more services as time goes on. Many people ask ‘why’ I share my trading ideas and well, you could ask the same question to the thousands of traders that do it every day on TradingView. I don’t really believe there is a single answer, but many people trade as a hobby and enjoy it, with the aim of being profitable at the same time.
Fundamental analysis, Sentiment analysis, and Technical Analysis. Yes, a great sounding set of buzz words but actually very simple to break down.
I use fundamental analysis in terms of seeing how external events may affect an assets price, for example the “halvening” for Bitcoin, or a projects MainNet release.
Sentiment analysis is the study of the market’s mood towards an asset. If you go on Reddit and you see nothing but FUD (fear, uncertainty & doubt) you may conclude that sentiment is very low for a certain cryptocurrency.
Technical Analysis is what most people see and are familiar with. Charts, lines, triangles, bull flags, bear flags, moving averages, RSI, MACD, the list goes on! This is using historic price data, price action and indicators to try predict the future movement of an asset. I would say this is over 60–70% of our strategy at TradespotSignals with FA & SA being the remainder.
That’s impressive. Will the Set you’re offering on the Set Social Trader use data from tradespotsignals.com? If so what assets will be traded and what’s the average trade interval?
Unfortunately TradespotSignals is based purely on trading BTC/ALT pairs on Binance, but hopefully one day the support will come to Set where I can apply my trading ideas to the social trader feature — I would love that! For now I will offer my long term BTC/USDC & ETH/USDC strategy which has proven very successful in the past and I highly recommend checking it out, it represents my two golden rules of patience and strategy I mentioned earlier.
What is something that people don’t know about you that you’d like to share?
My first attempts of creating a trading bot on Discord that bought and sold crypto on Binance based on messages sent in the chat went… interestingly. I had set a fixed buy amount in BTC for every alt coin but missed a decimal in the number and ended up pumping some very low volume alt coin up about 30% by mistake. I held that coin for a while… You live and learn!
Anything else you’d like to tell us or your potential followers?
“By following me, you join a community of traders that want an edge, and want to take their emotions out of their trading.”
I don’t claim to be a trader with 20+ years experience or to guarantee unreasonable profits by following me, but what I will say is, TradespotSignals and the TokenSets created here by me are based on historically performing strategies that I have used in the past, the strategies are transparent and available to all. Historically throughout all of Bitcoins life, the strategy has worked and for as long as cryptocurrency as an asset stays relevant I strongly believe that strategy will continue to perform. By following me, you join a community of traders that want an edge, and want to take their emotions out of their trading.
I want to build a community of honest traders that want to learn but also provide trading tools via either my own strategies on the TokenSets/Tradespot website or inspire traders to employ their own strategies by providing trade ideas, educational material and bringing other traders and resources into one place.
Conclusion
We hope you enjoyed reading this interview! Andrew will be one of initial launch traders when Set Social Trading goes live in the next few weeks. If you’d like to be notified when Andrew’s Set goes live, head here to sign up!
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