At 19,crypto began taking his first steps in the frenetic world of bitcoin and cryptocurrency tranding. It was 2015 when the rookie trader completed his first exchanges and stumbled upon an impassable wall, the loss of money. The situation for the Spaniard was not pleasant, but the desire to continue learning and to understand what the market behavior is like, motivated him to move forward.
Analyze graphs, review histories and spend many hours in front of a screen, became routine activities for the enthusiast, who gradually understood that losing or earning money are only parts of the trade. After five years of experiencing good days and bad days, the young 24-year-old physics student reflects on his beginnings and how he became a professional trader.
The operator confesses by saying that cryptocurrency trading is sold everywhere as a profession in which a lot of money is earned in a short time, something that he denied in an interview with CriptoNoticias.
“There is a very different view of what people think about trading from outside and then what it really is. Most of the ads sell that trading is a way to earn a lot of money in a very short time and to be totally honest, it is not so, especially at the beginning obviously. The money can be obtained with years of practice, hours invested and a lot of money, ”explained the trader to this newspaper.
Identified only with your Twitter username, crypto believes that there are three basic aspects of trading. The first is related to money since the person must assume and be willing to lose funds for the mistakes he may make. Believes that it is logical and regular to make mistakes within the studying stage, however, these failures accompany the trader throughout his profession.
At the beginning the losses affected me a lot, like everybody else. Obviously nobody likes to lose money, but as the years go by, you start to have experience, you learn from those losses and then they practically do not affect you, why? because this is one of the most important keys that few people usually pay attention to. When we enter an operation and the operation goes wrong, we must have humility to say ‘I have made a mistake in this idea and I recognize it’. A professional trader Must have to constantly have that humility to apprehend mistakes.
The operator’s reflection is that the losses must be cut soon, but many times the
mistake is not recognized because the human being by nature has a hard time
accepting hat he became wrong, “it’s far very hard to attain that point.”
In relation to earnings there is also a key aspect, patience. For the trader when an operation is running in a positive way, it is necessary to have enough patience to let that gain go forward as much as possible, so by combining this element with the recognition of errors, a consistency in cryptocurrency trading can be achieved.
Trading Idea
Time and loneliness
The other two elements that considers basic in trading are: the time to spend to learn and assume that it is a very lonely trade. With respect to the first, he pointed out that as in many countries, where a person must study four years to practice a profession, trading is not very different from that, since you usually have to be willing to give that time to Learn to trade.
In relation to the second element, he indicated that the profession is individual and very lonely in which only “you, the screen and your decisions. There is nothing else, if something goes wrong, there is no partner physically next door like in a normal job. That is very hard, you have to get used to it. These are three fundamental things and that are not usually said, we usually lie about it and I want to be totally honest with people.
When taking stock of the good or bad things that trading has left him, he stressed that the worst is the frustration he has felt from bad times, as it is like hitting a wall. The feeling, he says, is even worse because there are no instruction books on what to do in such cases. Being a 100% free profession, having no boss, or anyone to guide, trading can be complicated.
“Trading is a fight against oneself, it is not a fight against the market. Psychology comes into play a lot to face a loss and the ability you have to accept your mistakes and recompose yourself. Money is irrelevant when we talk about this topic. Each one hurts the amount of money they work with, the same goes for a person who operates with 100 euros or a million. If you lose 50% of your capital, it will hurt the same, but not for the money, but for the psychology behind it, ”he said.
On the positive things he has lived, he recalled one day, without specifying figures, in which he earned a five-digit gain in US dollars that was between USD 50,000 and USD 100,000.
These ups and downs, explains the operator, are part of the game, of the profession, which in his case in particular has changed his character and have been done by another person because they are strong situations. Trading for me is not a job, it’s like an activity to have fun, it’s like living a dream.
Although the gains or losses in trading can be considerable, the life of crypto is not framed in luxuries. On the contrary, he leads a simple life like anyone who studies, works and has fun on the weekends, “it’s not that I get up and start a Ferrari to go to a mansion.”
His day to day begins after 10:00 in the morning with the review of social networks and graphics published by other traders. In the afternoon he exercises, writes analysis, produces videos to post on Twitter and begins his trading session, a task that takes between four and eight hours a day. If it captures opportunities it operates, but I do nothing because many times it is better to do nothing than rush into an operation.
Every night he writes a report in which he records what the day was like, which serves him for future consultations about his mistakes or successes.
Markets and volatility
The trading carried out by the operator is concentrated 95% in cryptocurrencies, but before also spent time in the forex or foreign exchange market. His first motivation was felt after meeting bitcoin, which, he says, was like discovering a totally different world. For him, finances seemed boring, but with the arrival of bitcoin things changed. The market volatility sees it normally as it considers that bitcoin is going through an early stage of adoption, but that over the years it could have a behavior like gold. This particular aspect sees it as a generator of opportunities for traders, “a lot of volatility translates into many options, but not necessarily a lot of money, if there is no volatility, operations could extend for a week.”
Trading Idea
When asked about market predictions and technical analysis, he was emphatic in saying that nobody knows 100% what will happen, but that this type of tool is used to place the probabilities of his side, since if it is an uptrend or bearish trend we must look for indicators that corroborate that. The reason is that markets are unpredictable and “often irrational” so you have to be careful.
The trader‘s position is that anyone can do a good operation and win it, the difficult thing is to be consistent and generate profits day after day, month after month and year after year. This is a task that, says our interviewee, is only achieved with constancy, knowledge and a true passion for the exchange of cryptocurrencies.