News for hackers. Stuff that matters.
Re:‘Trading is gambling, no doubt about it’ cryptocurrency d... by jasfi on Saturday January 15, 2022 @02:01PM (#29949150)
I'm working on an automated crypto trading system. The goal is to prevent serious loses by using rules that should be safer than the way most people trade. I don't want to make something that fuels an addiction, but instead is skill-based.

Any opinions on this?

Re:‘Trading is gambling, no doubt about it’ cryptocurrency d... by petemcc on Saturday January 15, 2022 @03:04PM (#29949695)
Interested in your thoughts on how most people trade.

Also curious what the ruleset will do, along the lines of existing risk management strategies? (Limit % of account per trade and % per day or strategy to a certain level of loss?)

If it's automated, I think it probably circumvents the more "addictive" type behaviours as they tend to be more prevalent in scalping or day trading strategies. What sort of timeframes are you targeting?

Re:‘Trading is gambling, no doubt about it’ cryptocurrency d... by jasfi on Saturday January 15, 2022 @05:26PM (#29951023)
From what I know it's partially based on what others are saying (e.g. Twitter), partially emotion based (fear/greed/etc), and otherwise based on luck. Some will pick a hyped coin and hope for the best.

Risk management will be a big part of it. I was even thinking of enforcing %s to limit risky behavior, but users would probably just leave if I did that.

Yes the idea is that automation reduces trades that aren't well thought out. I want to target as many timeframes as possible, but will likely start with 12H and 1D for the MVP.

Website with sign-up for the MVP: https://tradecast.one

Re:‘Trading is gambling, no doubt about it’ cryptocurrency d... by protoax on Saturday January 15, 2022 @03:16PM (#29949811)
Pretty much none of crypto trading can ever be skill-based depending on the time frame. Even in the medium term it’s a random walk.
Re:‘Trading is gambling, no doubt about it’ cryptocurrency d... by jasfi on Saturday January 15, 2022 @05:28PM (#29951037)
That's the dream of the quant!