Luckshury@Luckshuryy
I just had a call with 3 of my close trader friends.
Everyone in the call earns their primary and often only income from trading.
My takeaways:
1. Most of us are exploiting events the market is yet to have priced in. Placing bets that we will be early enough to be able to capture the movement from mispriced to fairly priced. The other was directly counter trading against proven losing traders.
2. A few of them were open to looking at whether there edge would be effective in other markets. Solely because markets like ES, NQ, OIL are now available onchain. Interesting to see how that takes shape from BTC, ETH native traders.
3. I personally didn't find anything any of us were doing that exciting. It didn't evolve around sniping bottoms or tops. It all was around capturing the majority of a trend, whether that be HTF or LTF. Conceptually all fairly similar.
4. We all have separate spot/investment strategies, all of which involved only majors: BTC, ETH, HYPE, SOL as well as ES, NQ, etc. None of them involved punting and hoping on random alts. Primarily majors.
5. Taking into account volatility when considering where your trade thesis is invalidated was a common trait. TLDR: If price is volatile your invalidation should adjust accordingly based on a multiple of the volatility.
6. Selectivity is one of the biggest edges you can have. Keeps you in the game longer as you are less likely to make quick bad decision after another. None of us enter back to back to back with the same trade thesis.
7. Be very aware of your edges evaporating/diminishing. Easiest counter to this is to constantly be highly skeptical and willing to adapt. No edge is forever lasting.
8. Love for the game. Drawdowns, losing streaks, random down periods, having a deep passion for what you do alongside a love for problem solving is what keeps people progressing.
A lot of gloom around how bad the space is but in reality I've never stopped enjoying trading and continuously progressing forward with others.
Highly recommend you find other like minded people in the space and do the same. Below this post might be a good place to find others.