As being all Grittani-an (refers to Tim Grittani), I know that he made most of initial money shorting new release stocks and longing multiple day breakouts. He traded penny stocks and I trade penny altcoins. That is where I have to metamorphosis his knowledge and stock terminologies and watchlist to the alt-coins world. I have been wanting to do shorting since a long time. But there is not such facility in binance. Margin trading comes close to shorting option but is not exactly that. So, I did a little googling and youtubing ,and came across one video where this guy was shorting on kraken.
Though Kraken does not have much alt-coins as binance to trade with, kraken has very intuitive panel to do shorting. Huge take-away from his video was, (though cynic I am and do not believe every quick-rich and 1000%-ROI rant on youtube, I took his advice of how trader should not only be limited to longing but should also be doing shorting. I took it for sure as Kraken would let me short new alt-coins on the first day Kraken releases new coins on their exchange market. I am not looking for 80% drop on new release alt-coins, just getting in and getting out of shorting after the first spike would be okay with me. I do not need to have home runs every time and on top of that, there might be good 30% chance that every new releases are not pump and dump type promotion. So, that 30% would be risk side for me. Anyway, would be getting on this play for good 70% on my side.
Waiting to fund my Kraken.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!