Announcing Trader for a Month 2.0
Did you watch our Experiment last time? Back in May 2020, we asked ourselves a question: “How can we show what trading for a beginner is really about?”
Because, you know, the internet is full of trading gurus who always win. This leaves a beginner, after the first couple of losing positions, with bruised confidence. They either abandon the whole trading idea altogether. Or they think joining some “guru” for inside signals (for money, obvi!) is a solution. It rarely is.
The reality is, though, whether you just opened an account or have been plowing away for years, you’ll always make moves that turn out to be wrong. It’s a part of the process. Just like having your emotions play with your ego so that one day you feel like “I kneww it”. Only to ask “What am I even doing??” the next day.
In our Experiment, Trader for a Month, we wanted to show the reality of trading, no Instagram filters.
Our beginner trader, Alex, with minimal practical experience, was opening and closing positions for the entire month on broker.cex.io. All while sharing his thought process, doubts, fears, and mild digestive issues that went with it.
If you missed that good fun, here you are to review!
Aaand we want to do it again! Differently this time.
Beginner anymore?
Who will be the main hero of Experiment 2.0? Same character, Alex. Same person with understanding of finance, eager interest in cryptocurrency markets, PLUS a month or so of very consistent trading, and a few months of trading here and there.
What does it make him? Intermediate? Advanced? Call him what you wish, we believe it takes much more than time and theoretical knowledge to move out of the beginner’s league.
The fact that he made a +30% profit for the Experiment overall, and did so with consistent gains over time, does say something about Alex. Yet, as they like to put it in financial disclosures, “Past performance is no guarantee of future results.”
So where will our not-so-beginner-but-not-so-advanced trader Alex end up in Experiment 2.0?
Let’s see!
New setup
Last time Alex started off with 100 dollars worth of BTC and added another 100 dollars later. He worked with 10x leverage and traded BTC, ETH, and LTC pairs, available at that time on broker.cex.io.
Compared to the somewhat limited options last time, with Experiment 2.0 setup, Alex will be like a kid in a candy shop. So much to choose from, much more to “spend”.
Here’s what Alex will be working with:
Initial deposit: 500 USDT
Leverage options: 2x, 3x, 5x, 10x, 100x
Derivatives on the following assets: ADA, ATOM, BAT, BCH, BTC, DASH, DOT, ETH, GAS, LINK, LTC, MATIC, NEO, ONG, TRX, ONT, UNI, XLM, XRP, XTZ, ZIL, ZRX.
Adding both USDT and ETH, on top of BTC as account currency has offered a lot of flexibility to our traders. For one, some people have more ETH (from the good old ICO days) and prefer to put it to work. More importantly, USDT becomes a stable basis to determine the overall trading ROI when we still live in the fiat world.
You see, using BTC as account currency can be suitable for some people whose assets “live” in the crypto economy. For a beginner trader, however, it may not always be the best option.
Here’s why: Say your account currency is BTC and you trade ETH/USD. Imagine, you make a 5% gain on your ETH/USD trade. BUT! BTC has fallen 7% while your trade was open. Where does it leave you? In other words, aside from the exposure to the price volatility of an asset you trade, you are also exposed to the price volatility of your account currency.
Having your account funded with USDT removes the exposure to the price volatility of the account currency (because USDT is a stablecoin). And it gives you clarity to the ROI of your trades. So +5% will be +5%! You can always look at your starting Balance and your Equity and understand how you did overall. Get it?
In terms of other parameters, Alex has complete freedom – he’s an experienced soldier now! Does it mean we are leaving the room for some extravagant moves? Maybe… Does it mean his emotions will one day make him put the entire balance with 100x leverage into a position in a most volatile token? Perhaps… Could it mean Alex may or may not make it to the end? We’ll see…
But what is more – YOU will be able to affect and influence how Alex will be trading! How? Well, keep your eyes glued to our Telegram channel where all the action will be happening, and you will find out! Wink wink.
Follow Alex’s trading adventure, Experiment 2.0 here: https://t.me/CEXIOBroker
Finally, whatever Alex is doing – not financial advice – you know that.
And let the Experiment 2.0 begin!