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
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?