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Former investment bank FX trader: Risk management part II
Firstly, thanks for the overwhelming comments and feedback. Genuinely really appreciated. I am pleased 500+ of you find it useful. If you didn't read the first post you can do so here: risk management part I. You'll need to do so in order to make sense of the topic. As ever please comment/reply below with questions or feedback and I'll do my best to get back to you. Part II
Letting stops breathe
When to change a stop
Entering and exiting winning positions
Letting stops breathe
We talked earlier about giving a position enough room to breathe so it is not stopped out in day-to-day noise. Let’s consider the chart below and imagine you had a trailing stop. It would be super painful to miss out on the wider move just because you left a stop that was too tight. Imagine being long and stopped out on a meaningless retracement ... ouch! One simple technique is simply to look at your chosen chart - let’s say daily bars. And then look at previous trends and use the measuring tool. Those generally look something like this and then you just click and drag to measure. For example if we wanted to bet on a downtrend on the chart above we might look at the biggest retracement on the previous uptrend. That max drawdown was about 100 pips or just under 1%. So you’d want your stop to be able to withstand at least that. If market conditions have changed - for example if CVIX has risen - and daily ranges are now higher you should incorporate that. If you know a big event is coming up you might think about that, too. The human brain is a remarkable tool and the power of the eye-ball method is not to be dismissed. This is how most discretionary traders do it. There are also more analytical approaches. Some look at the Average True Range (ATR). This attempts to capture the volatility of a pair, typically averaged over a number of sessions. It looks at three separate measures and takes the largest reading. Think of this as a moving average of how much a pair moves. For example, below shows the daily move in EURUSD was around 60 pips before spiking to 140 pips in March. Conditions were clearly far more volatile in March. Accordingly, you would need to leave your stop further away in March and take a correspondingly smaller position size. ATR is available on pretty much all charting systems Professional traders tend to use standard deviation as a measure of volatility instead of ATR. There are advantages and disadvantages to both. Averages are useful but can be misleading when regimes switch (see above chart). Once you have chosen a measure of volatility, stop distance can then be back-tested and optimised. For example does 2x ATR work best or 5x ATR for a given style and time horizon? Discretionary traders may still eye-ball the ATR or standard deviation to get a feeling for how it has changed over time and what ‘normal’ feels like for a chosen study period - daily, weekly, monthly etc.
Reasons to change a stop
As a general rule you should be disciplined and not change your stops. Remember - losers average losers. This is really hard at first and we’re going to look at that in more detail later. There are some good reasons to modify stops but they are rare. One reason is if another risk management process demands you stop trading and close positions. We’ll look at this later. In that case just close out your positions at market and take the loss/gains as they are. Another is event risk. If you have some big upcoming data like Non Farm Payrolls that you know can move the market +/- 150 pips and you have no edge going into the release then many traders will take off or scale down their positions. They’ll go back into the positions when the data is out and the market has quietened down after fifteen minutes or so. This is a matter of some debate - many traders consider it a coin toss and argue you win some and lose some and it all averages out. Trailing stops can also be used to ‘lock in’ profits. We looked at those before. As the trade moves in your favour (say up if you are long) the stop loss ratchets with it. This means you may well end up ‘stopping out’ at a profit - as per the below example. The mighty trailing stop loss order It is perfectly reasonable to have your stop loss move in the direction of PNL. This is not exposing you to more risk than you originally were comfortable with. It is taking less and less risk as the trade moves in your favour. Trend-followers in particular love trailing stops. One final question traders ask is what they should do if they get stopped out but still like the trade. Should they try the same trade again a day later for the same reasons? Nope. Look for a different trade rather than getting emotionally wed to the original idea. Let’s say a particular stock looked cheap based on valuation metrics yesterday, you bought, it went down and you got stopped out. Well, it is going to look even better on those same metrics today. Maybe the market just doesn’t respect value at the moment and is driven by momentum. Wait it out. Otherwise, why even have a stop in the first place?
Entering and exiting winning positions
Take profits are the opposite of stop losses. They are also resting orders, left with the broker, to automatically close your position if it reaches a certain price. Imagine I’m long EURUSD at 1.1250. If it hits a previous high of 1.1400 (150 pips higher) I will leave a sell order to take profit and close the position. The rookie mistake on take profits is to take profit too early. One should start from the assumption that you will win on no more than half of your trades. Therefore you will need to ensure that you win more on the ones that work than you lose on those that don’t. Sad to say but incredibly common: retail traders often take profits way too early This is going to be the exact opposite of what your emotions want you to do. We are going to look at that in the Psychology of Trading chapter. Remember: let winners run. Just like stops you need to know in advance the level where you will close out at a profit. Then let the trade happen. Don’t override yourself and let emotions force you to take a small profit. A classic mistake to avoid. The trader puts on a trade and it almost stops out before rebounding. As soon as it is slightly in the money they spook and cut out, instead of letting it run to their original take profit. Do not do this.
Entering positions with limit orders
That covers exiting a position but how about getting into one? Take profits can also be left speculatively to enter a position. Sometimes referred to as “bids” (buy orders) or “offers” (sell orders). Imagine the price is 1.1250 and the recent low is 1.1205. You might wish to leave a bid around 1.2010 to enter a long position, if the market reaches that price. This way you don’t need to sit at the computer and wait. Again, typically traders will use tech analysis to identify attractive levels. Again - other traders will cluster with your orders. Just like the stop loss we need to bake that in. So this time if we know everyone is going to buy around the recent low of 1.1205 we might leave the take profit bit a little bit above there at 1.1210 to ensure it gets done. Sure it costs 5 more pips but how mad would you be if the low was 1.1207 and then it rallied a hundred points and you didn’t have the trade on?! There are two more methods that traders often use for entering a position. Scaling in is one such technique. Let’s imagine that you think we are in a long-term bulltrend for AUDUSD but experiencing a brief retracement. You want to take a total position of 500,000 AUD and don’t have a strong view on the current price action. You might therefore leave a series of five bids of 100,000. As the price moves lower each one gets hit. The nice thing about scaling in is it reduces pressure on you to pick the perfect level. Of course the risk is that not all your orders get hit before the price moves higher and you have to trade at-market. Pyramiding is the second technique. Pyramiding is for take profits what a trailing stop loss is to regular stops. It is especially common for momentum traders. Pyramiding into a position means buying more as it goes in your favour Again let’s imagine we’re bullish AUDUSD and want to take a position of 500,000 AUD. Here we add 100,000 when our first signal is reached. Then we add subsequent clips of 100,000 when the trade moves in our favour. We are waiting for confirmation that the move is correct. Obviously this is quite nice as we humans love trading when it goes in our direction. However, the drawback is obvious: we haven’t had the full amount of risk on from the start of the trend. You can see the attractions and drawbacks of both approaches. It is best to experiment and choose techniques that work for your own personal psychology as these will be the easiest for you to stick with and build a disciplined process around.
Risk:reward and win ratios
Be extremely skeptical of people who claim to win on 80% of trades. Most traders will win on roughly 50% of trades and lose on 50% of trades. This is why risk management is so important! Once you start keeping a trading journal you’ll be able to see how the win/loss ratio looks for you. Until then, assume you’re typical and that every other trade will lose money. If that is the case then you need to be sure you make more on the wins than you lose on the losses. You can see the effect of this below. A combination of win % and risk:reward ratio determine if you are profitable A typical rule of thumb is that a ratio of 1:3 works well for most traders. That is, if you are prepared to risk 100 pips on your stop you should be setting a take profit at a level that would return you 300 pips. One needn’t be religious about these numbers - 11 pips and 28 pips would be perfectly fine - but they are a guideline. Again - you should still use technical analysis to find meaningful chart levels for both the stop and take profit. Don’t just blindly take your stop distance and do 3x the pips on the other side as your take profit. Use the ratio to set approximate targets and then look for a relevant resistance or support level in that kind of region.
Not all returns are equal. Suppose you are examining the track record of two traders. Now, both have produced a return of 14% over the year. Not bad! The first trader, however, made hundreds of small bets throughout the year and his cumulative PNL looked like the left image below. The second trader made just one bet — he sold CADJPY at the start of the year — and his PNL looked like the right image below with lots of large drawdowns and volatility. Would you rather have the first trading record or the second? If you were investing money and betting on who would do well next year which would you choose? Of course all sensible people would choose the first trader. Yet if you look only at returns one cannot distinguish between the two. Both are up 14% at that point in time. This is where the Sharpe ratio helps . A high Sharpe ratio indicates that a portfolio has better risk-adjusted performance. One cannot sensibly compare returns without considering the risk taken to earn that return. If I can earn 80% of the return of another investor at only 50% of the risk then a rational investor should simply leverage me at 2x and enjoy 160% of the return at the same level of risk. This is very important in the context of Execution Advisor algorithms (EAs) that are popular in the retail community. You must evaluate historic performance by its risk-adjusted return — not just the nominal return. Incidentally look at the Sharpe ratio of ones that have been live for a year or more ... Otherwise an EA developer could produce two EAs: the first simply buys at 1000:1 leverage on January 1st ; and the second sells in the same manner. At the end of the year, one of them will be discarded and the other will look incredible. Its risk-adjusted return, however, would be abysmal and the odds of repeated success are similarly poor.
The Sharpe ratio works like this:
It takes the average returns of your strategy;
It deducts from these the risk-free rate of return i.e. the rate anyone could have got by investing in US government bonds with very little risk;
It then divides this total return by its own volatility - the more smooth the return the higher and better the Sharpe, the more volatile the lower and worse the Sharpe.
For example, say the return last year was 15% with a volatility of 10% and US bonds are trading at 2%. That gives (15-2)/10 or a Sharpe ratio of 1.3. As a rule of thumb a Sharpe ratio of above 0.5 would be considered decent for a discretionary retail trader. Above 1 is excellent. You don’t really need to know how to calculate Sharpe ratios. Good trading software will do this for you. It will either be available in the system by default or you can add a plug-in.
VAR is another useful measure to help with drawdowns. It stands for Value at Risk. Normally people will use 99% VAR (conservative) or 95% VAR (aggressive). Let’s say you’re long EURUSD and using 95% VAR. The system will look at the historic movement of EURUSD. It might spit out a number of -1.2%. A 5% VAR of -1.2% tells you you should expect to lose 1.2% on 5% of days, whilst 95% of days should be better than that This means it is expected that on 5 days out of 100 (hence the 95%) the portfolio will lose 1.2% or more. This can help you manage your capital by taking appropriately sized positions. Typically you would look at VAR across your portfolio of trades rather than trade by trade. Sharpe ratios and VAR don’t give you the whole picture, though. Legendary fund manager, Howard Marks of Oaktree, notes that, while tools like VAR and Sharpe ratios are helpful and absolutely necessary, the best investors will also overlay their own judgment. Investors can calculate risk metrics like VaR and Sharpe ratios (we use them at Oaktree; they’re the best tools we have), but they shouldn’t put too much faith in them. The bottom line for me is that risk management should be the responsibility of every participant in the investment process, applying experience, judgment and knowledge of the underlying investments.Howard Marks of Oaktree Capital What he’s saying is don’t misplace your common sense. Do use these tools as they are helpful. However, you cannot fully rely on them. Both assume a normal distribution of returns. Whereas in real life you get “black swans” - events that should supposedly happen only once every thousand years but which actually seem to happen fairly often. These outlier events are often referred to as “tail risk”. Don’t make the mistake of saying “well, the model said…” - overlay what the model is telling you with your own common sense and good judgment.
Coming up in part III
Available here Squeezes and other risks Market positioning Bet correlation Crap trades, timeouts and monthly limits *** Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
Forex, Cryptocurrency and stock trading are all can be a great way to make money online, but it is not easy if you do not have the right tools and knowledge. Profitable trading requires patience, planning, and practice for more than several days. There are some basic hacks that can help you find your footing in the market a bit more quickly and firmly, and we’ll list them below to help you get started.
1. Find yourself
There are so many different strategies, techniques, and methods to trade, you must choose the right one that will be fit for your distinct personality. If you’re an impatient person that is looking for fast profits, for example, consider to be a short-term trader instead of a long term one, as you may find yourself itching to close the trade before the best (or right) time. If you’re a morning person, make sure you don’t choose a strategy that will operate mostly during your night hours, as exhaustion may compromise your decision-making abilities. Think about yourself while thinking about your strategies – this self-understanding will pay off in the long run and can help you to be a better trader.
2. Use your brain not your hart
To make sure you make the right decision based on real knowledge and not on the basis of emotion, you should always check your trading history- how many winning trades do you have? How many losing trades do you have? Then you can realize that it is impossible to beat the market 100% of the time and if you took a bad trade - close it in loss, it’s way better than close it after 2-3 days with heavy loss. Think your strategy isn’t that good? Change it but also give it time, a trading strategy can’t be measured based on 1 or 2 trades, not even 5.
3. Be Liquid
One of the most common mistakes made by novice traders is the lack of liquidity. When you trade online, you must calculate the position size compare to your available balance (Total balance - Open positions). Most traders take over-size positions that put their entire account at risk, for example, execute $500 EUUSD trade when there’s $1,000 in the account meaning, 50% exposure in the first second of the trade. If the trade will go against us, we will not be able to think clearly and take another trade to recover during the day. It’s always better to use 1% - 5% of the account balance at any given time = all the open positions together.
4. Do your homework
The best time do your market research is over the weekend when the markets are closed or before your daily trading session started when you are not in a hurry or following on-going trades. Pay close attention to the news, what happened the previous week, and if anything is expected to happen in the upcoming week. If there is a very important event on the economic calendar such as interest decision with great expectations of change, important report, election or any other high-impact event - it is better to wait a few hours after it’s all over and then- continue trading.
5. Blindly Following Robots \ Automatic Trading Systems
If you find a way where you can't lose and success is guaranteed, will you share it with someone? of course not! Same with automatic trading systems that offered to the public. A computer and software can provide important information about the technical and fundamental characteristics of a specific stock, currency, or any other tradeable asset, However, many traders make the common mistake of relying too much on these tools without a full understanding of their capabilities. There is no easy money in life, no one can guarantee you profits without risk, the only solution we have is to learn how to do it properly instead of searching for shortcuts that can cause us heavy losses within a short period of time.
Which are your Top 5 favourite coins out of the Top 100? An analysis.
I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year? Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0 The 12 markets are
Currency 13 coins
Platform 25 coins
Ecosystem 9 coins
Privacy 10 coins
Currency Exchange Tool 8 coins
Gaming & Gambling 5 coins
Misc 15 coins
Social Network 4 coins
Fee Token 3 coins
Decentralized Data Storage 4 coins
Cloud Computing 3 coins
Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first: Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars. Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate. For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet. With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding. However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant. Without further ado, here are the coins of the first market
Market 1 - Currency:
Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
Bitcoin Diamond Asic resistant Bitcoin and Copycat
Market 2 - Platform
Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
Ontology: Similar to Neo. Interesting coin
Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
Nxt: Similar to Lisk
Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
Neblio: Similar to Neo, but 30x smaller market cap.
NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.
Market 3 - Ecosystem
The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
Aion: Aion is the token that pays for services on the Aeternity platform.
USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
Market 4 - Privacy
The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.
Market 5 - Currency Exchange Tool
Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
Achain: Building a boundless blockchain world like Req .
Req: Exchange between cryptocurrencies.
Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.
Market 6 - Gaming
With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
Storm: Mobile game currency on a platform with 9 million players.
Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
Wax: Marketplace to trade in-game items
Market 7 - Misc
There are various markets being tapped right now. They are all summed up under misc.
OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
Ncash: End to end encrypted Identification system for retailers to better serve their customers .
Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .
Market 8 - Social network
Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.
Market 9 - Fee token
Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
BNB: Fee token for Binance
Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
Kucoin: Fee token for Kucoin
Market 10 - Decentralized Data Storage
Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.
Market 11 - Cloud computing
Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
Elf: Allows easy use of Cloud computing in exchange for tokens.
Market 12 - Stablecoin
Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor. EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
Guy Gentile || knowing the Difference: Options vs Forex
Gets best Day trading tips and knowledge by highly professional Day trader Guy Gentile. He is also providing best trading knowledge via his official web page DayTraderPro. Contact with Guy Gentilevia his social media sites and webpage to get daily basis trading tips and market updates. Guy Gentile Forex trading and options trading is entirely different and understanding how they differ is essential to becoming a successful trader. An option is a contract with fixed risks and fixed rewards. When trading options, you invest in the contracts that can trade stocks, ETFs or index products. With this, a trader must decide if an underlying asset (stock, commodity or currency) will go up or down during a period, and they can see upfront the potential earning if their prediction is correct. When trading Forex, the aim is to profit from fluctuating currency rates. Trading currency compares the value differences of two base currencies.
The Forex market is technically accessible 24/7, but most Forex traders don’t trade on the weekend. Connected to the stock market is the options market; therefore, there are trading restrictions to the standard 9 am to 4:30 pm trading hours. While trading 24 hours sounds great, it doesn’t allow for a rest period for the trader. With set trading hours, options traders have no choice but to stop after a particular time, which can be both physically and mentally beneficial.
Forex trades have no delays and execution is immediate. Option trades, on the other hand, can be delayed by many common issues experienced in different markets, except for the Forex market. Therefore, when trading Forex, you will most likely always get the price you want.
Leverage is the use of borrowed capital, most likely from your brokerage, to increase the potential return of an investment. When trading Forex, leverage levels are much higher than when trading options. Forex leverage can range between 50 to 400. While this is enticing, you must be very cautious when dealing with margin trading, as overexposure can lead to significant losses. With options, you can use putt and call contracts to increase your leverage significantly.
Forex traders must have position limits. That means that the trader’s online software will automatically create a margin call when the margin amount goes over the value of the trading account. Margin calls act as an automated safeguard that ensures the trader does not lose control of their losses. Also, with Forex, the trader determines the time between trades. Options trading, on the other hand, give the trader a specified period of trading before the options expires. But don’t count options out! With this kind of trading, traders can use strategies such as buy-writes to help eliminate the risks taken.
Options trading require a brokerage to be the middleman between the trader and the stock market. Fees are included due to this, as that is how most brokerage services are paid. However, with Forex trading there are no commission fees because it is an inter-bank market. Being an inter-bank market allows for instant buyer-to-seller matches without a go-between. If a trader does use a Forex trading firm, they will add a spread between the bid and ask price to make their profit. The Forex trader will end up paying slightly higher than the base currency.
Forex trading has many pros, but traders looking to make a decision must remember that this is currency trading. For day traders, especially this means that little fluctuation will occur during a regular trading day. This market only becomes interesting when a major world event takes place. But with options trading, the stock market allows for a more exciting trading day. Ultimately, the decision is yours. Make sure your trading choice matches your style and resources. For more Contact Guy Gentile: http://guygentile.com/ https://www.daytraderpro.com/
FUD Slaying: Why “DYOR” is More Important Than YouTube Videos and Internet FUD
Hello everyone, I am here to discuss the recent FUD presented by a relatively unknown YouTube reviewer. I intend to discuss his methodology and the actual points themselves. https://www.youtube.com/watch?time_continue=1&v=1hH5_FAEzyo This is his YouTube video based on the document in question. He wrote the document. https://docs.google.com/document/d/1XQlAGIDPjDoQNHtzEWGdbO9i8MUkc4lZFKYLTZzMpYU/edit First, to get this out of the way, the reviewer has only been around on the social media scene for a short while. The views of his videos are only in the hundreds and his twitter was created a week ago. He is basically a "nobody" at this point. I don't mean that to be disparaging. He literally came out of nowhere. He is unproven and his methodology is inconsistent and extremely questionable. With that said, just because he came out of nowhere doesn't mean he might not have a point, so let's look at his rating methodology to get a better idea of his process. Oh and if you do not want to read all this, here is the TL:DR: The guy doesn't know what he is talking about. He doesn't has much idea of what he is doing when writing reviews. His research is lazy. I actually feel I wasted my time responding to this, but I am going to do it anyway. When rating a project, he uses the following categories: MVP (minimum viable product), ease of research, team, roadmap, community (bonus), solving a problem, does it need blockchain, token use, red flags, competition, presentation, token vesting, demand/value, scarcity, customer service, best in field (bonus), active use, size of market, development (bonus) These are pretty good things to look at, but he failed to look at GitHub contributions (or other source code related sites), so he can't really tell if a project is scammy or not. So, how well did he check this stuff out? Rating the team: When looking at his review of GVT, the only way to get an idea of this person's methodology is to look at his reviews of other projects. When rating the team there are basically two basic routes a person can take. You can analyze the team itself, or you can bundle the team and the advisors together and rate the project as a whole. The reviewer is inconsistent in his reviews. In this category he bundles the entire team and advisors on some projects whereas he just looks solely at the team in other reviews. His research is absolutely lazy. He gave Polymath a 0 rating for their team, but their website links to their company LinkedIn page and lists all 26 employees. It was not hard to find this. Even if it weren't on the site, a simple google search would have revealed who the team is. Polymath has a great team with some decent “stars” on it. It makes no sense to give them a 0. The reviewer doesn't know what he is doing. Difficulty in finding the team deserves docking points in "ease of research", and it does not deserve giving the entire category a 0. The point of this category should be to evaluate the merits of the team members, which is something he does not do in most of his reviews. He gave Selfkey a perfect score stating: "Team: 20 Points - Superstar team and advisors" This means he is bundling the team and advisors together. If so, any issues with advisors deserves docking points from that category, not docking at additional 20 points because of one advisor. Looking at Selfkey, I don't know where the he gets the idea that they have a "superstar team". What does that even mean? I checked their profiles. Some of them only came onto the project recently and their LinkedIn pages are nothing to write home about. Some of them don't even have LinkedIn pages. He gave the GVT team 13 points, but then docked 20 points because he didn't like Charlie Shrem. Do you realize the ridiculousness of this? The GV team category effectively gets -7/20 points because the reviewer does not like Charlie Shrem. That is worse than giving the team 0/20. Charlie is only one advisor with no actual power over the GVT team's operations. He cannot execute any commands over the GV team or force them to do anything. The GV team can fire Charlie. Charlie cannot dismantle the GV team. That power balance is important. The rating makes no sense at all. Also, he docked the Changelly advisor because his company has bad customer service? Really? What does that have to do with his ability to advise the GV team on the things they need from him? Fact of the matter is his business is still running. The same cannot be said for advisors of other projects (more on that soon). If you are going to rate the team and include the advisors, the value should be 3:1 or even 2:1. Even if you gave the advisors a score of 0, the category score should not be that low. GVT's advisors are absolutely amazing. To call them weak is ridiculous. With regard to Nuls: "Asian team, isn’t on LinkedIn. No way to research." They get 0 points because they are Asian and don't use the sites you like to use? The language used allows that statement to be interpreted in a very negative way. There are non-Asians on that team as well. There is a way to research them. There are bios of each team member if you scroll over the pictures. You can then use that information to do more research on them. You are just too lazy. Looking at The Key, their members are definitely not "all-stars". Their team is unknown and they have 3 relatively unknown advisors, only one of which has a LinkedIn page. Love him or hate him, Charlie Shrem is a crypto superstar compared to these people. Interestingly they are more of an "Asian team" than Nuls. That didn't seem to affect the score much though. He gave the Bounty0x team a perfect score, but he obvious didn't bother to research every member of the team or their advisors with much effort. As an example, Terry Li is the Bounty0x solidity developer. If you check his LinkedIn page you will find a few serious red flags. He hasn't held a job for over a year. He has no visible programming experience. He has been a solidity developer for 10 months with no prior history or proof that he can program well. I cannot stress this enough: you do not want your solidity developer to be a programming newbie. This will spell disaster for your project. When you look at their advisors there are some serious red flags as well. I picked two advisors to research and I found out that both of them have had their companies fail. One of them even declared themselves unsuccessful in a Facebook post. I don't want a project to be advised by people with a bunch of failed startups. Changelly having bad customer service pales in comparison to advisors whose project's failed. Bounty0x's advisor team is filled with failed entrepreneurs and members of their team lack experience in the jobs they are assigned. Also, their "Backend and Solidity engineer" has only been with the project for a month, and his blockchain programming experience is nonexistent. They do not deserve a perfect score in this category. GVT has a team with years of programming experience, but more importantly, they have years of experience programming financial software. These are exactly the type of people you need on your team. To the reviewer: Either bundle the advisors into the team rating or give them a separate category. Do not be inconsistent in this category. Do not bring a team's ethnicity into play as a factor for anything. Please do actual research on all the members, and please define what it means to be a "superstar". Please learn to navigate websites. Polymath's team is there. Your inconsistency and lack of research in this makes you appear incapable of judging a team. There is no clear methodology here. All your reviews are questionable because of this. Roadmap: He gave 0 points to GVT for their roadmap being hard to read. But the key point is this: They have a roadmap. There is no reason to give 0 points in this category. Not only that, the roadmap is decently detailed with many goals and objectives. The roadmap isn't some simple points on a line like Enigma's roadmap. Speaking of which... He gave Enigma 0 points for not having a roadmap at all.... But they do have a roadmap. The guy didn't do his research. https://en.decentral.news/2017/12/27/ico-analysis-enigma-catalyst-realm-crypto-trading-machines/ It can be found here. MVP: Having a minimum viable product be worth only 10 points is ludicrous. Any project that has an MVP basically utterly destroys a project that doesn't. More importantly, the reviewer didn't actually bother to use the MVP on what he reviews. He gave Polymath 0 points for their demo, but gave GVT 10 points for theirs. I am going to be blunt about this. GVT's demo is a non-functional interface demo. GVT's MVP comes on April 1. Polymath does not deserve a 0, and GVT does not (as of 3/21) deserve a 10. They both deserve a 5. He didn't bother to actually check out GVT's demo, which goes to show he doesn't actually research things properly. He gave Enigma a 3 for an MVP not available to the public and Selfkey a 5 for an MVP not used by the public. Eh? He gave the Authorship a 10 for their MVP but claims he cannot find any info about them. How is that supposed to work? He gave Po.Et 0 points for their MVP because he couldn't find it. Here you go buddy: https://github.com/poetapp/wordpress-plugin It's right there. You just failed to find it. It isn't their fault your research is bad. Ease of Research: The reviewer either needs to dock points for research being difficult in their respective categories or dock research being difficult in this category. Do not "double dip" and dock points in both categories. This category is irrelevant since the reviewer already docks points in their respective categories. Also, this category is subjective because it is based on the reviewer's research skillset. Community: He uses coingecko's score or numbers from their telegram channel but there isn’t much evidence that he actually bothered to check out their communities much. Reeks of laziness and has nothing to do with the quality of a community. This really shouldn't even be a category if he is going to give points based on this. High telegram channel members has little meaning. Solving a problem: The reviewer’s inability to understand the problem that a project solves should not be held against it. Polymath is quite clear in the problem it solves. He gives projects that solve problems of identifying people a 10, but gives projects that solve problems of identifying intellectual property a 3. That makes no sense. Those are both problems that need to be solved by the blockchain. The idea that he finds one more important than the other is clear bias. Token Use: The author does not understand the GV product. GV is platform agnostic, and more importantly GVT needs as little outside influence as possible. There is a very specific reason why GVT has to be used in place of ETH. ETH would technically be a middleman in this sense. GV's success is not meant the be tied to ETH's success or ETH token price manipulation. GV's success isn't even meant to be tied to crypto's success. GV is designed to succeed even if ETH or crypto fails. GVT actually deserves a 10 in this category. GVT is needed to use the platform. Money is transferred using GVT. Profit is returned using GVT. Other services such as GV Markets will also function using GVT as gas. The utility of GVT is needed in all aspects of the platform. This gives the token great utility and investment value. If 1 Billion is invested through the GV platform, GV's market cap includes that 1 billion because the token is needed to transfer that 1 Billion around. This provides great incentive to invest in the platform and a great reason for the token price to grow in value. No other project that this much incentive or ways to bring value to their token as much as GVT. I am surprised the reviewer cannot see this. GVT is also market agnostic. The entire crypto market can fail and GVT can still maintain value through profits brought in from the Forex and stock markets. This will make it extremely resilient over time. Presentation: The purpose of GVT is quite clear. It is broken down on the website and the presentation clearly explains why it is needed as all levels of trust management including the brokers, customers and managers. All that info is very clear on the front page of the site. 0/10? GVT presentation isn't the problem here. It seems the reviewer only watched the video which is just one part of the presentation. Everything is on the site and in the whitepaper, which the reviewer apparently didn't even fully read. Token vesting: He colors it yellow for GVT but green for other projects that also get 5 points... visual bias is apparent. He gave one project a 10 for an 18 month vesting period and a 6 to another project for the same period with little justification for such a disparity. Supply/Scarcity: GVT receives 3 points because 44M tokens were available during ICO but only sold about 4M. This makes him believe that they didn’t create much demand. “Everyone who wanted GVT got it.” The US and Singapore could not participate. Also, Bounty0x failed to reach their soft cap, but the reviewer didn’t dock any points for that. If everyone who wanted GVT got it then the marketcap wouldn’t be where it is today. What a terrible assumption he made. Competition: He gave GV a 5/10, but his reasoning made little sense. “Covesting and coindash are used to trade cryptocurrencies while GVT is for cryptocurrency AND non-crypto trading. They will still compete for a portion of the same market. People will have only so much fiat to invest.” You do not use fiat to invest in Covesting or Coindash. Also, GV will allow people who are into stocks or forex to bring their money into crypto. No other coin is doing what GVT does. Covesting and coindash, arguably, are projects that try to compete against just one part of the entire GV platform. GVT is more than that and should have a higher score because there is basically no competition. There is competition for some of its features, but not for the platform as a whole. He gave Bounty0x a 20-point bonus for "Best in Field"... but they are the best because they have no competition. As a matter of fact, there is no reason for a 20 point "best in field category" when you already have a competition category worth 10 points. He gave Funfair a 5/10 even though he states "No competition in FunFair’s niche"... That would automatically make it the best in its field if it has no competition as well. Why does a project that has no competition effectively get 30 points (10/10 + 20), while another project with no competition get only 5 (5/10 + 0)? I will tell you why. It's because the author doesn't know what he is doing. Guy's I am going to be honest. I am tired of doing this. You get my point. His reviews are an inconsistent and poorly researched mess. I've written around 8 pages worth of content covering this. If there is anything else you need me to compare, please write it in the comment section.
1. What Is WaykiChain? 2. Where is WaykiChain heading？ 3. WaykiChain’s Technology 4. How does WaykiChain work? 5. WaykiChain’s Applications &Dapps 6. What is WICC? How to Buy WICC? 7. What is the use of WICC? 8. What are WaykiChain's advantages as a public chain 3.0? 9. FAQ 10. Contents Expected to Read About WaykiChain
1.What Is WaykiChain?
Born in Jan. 2017, Waykichain is a 3rd generation public chain with DPoS consensus mechanism. The transaction speed can keep above 1000 TPS in actual use. WaykiBet1.0, build on WaykiChain and launched in May 13, 2018 is the first ever prediction DApp based on public chain with over 130,000 downloads. The DApp has now been updated to V2.5. WaykiChain as a team focuses on blockchain technology development and community related operations. We are committed to building a decentralized, community self-governance big platform and big ecosystem, and we are moving toward it with nearly 1 million community members.
2. Where is WaykiChain Heading？
The future of WaykiChain is a big community-driven public chain ecosystem. WaykiChain aims to build a decentralized application platform that can provide users with complete blockchain-powered smart contract system. Anyone can realize their business ideas on WaykiChain and develop their own DApp, and build their own brands. WaykiChain takes decentralized prediction, assets trading and forex trading as entry points to expand markets in the early stage. After accumulating plenty of application users and developers, WaykiChain will gradually perfect its upper blockchain applications. Currently, WaykiChain tech team is focusing on underlying public chain development. WaykiChain will provide friendly development environment to developers with sufficient development templates an interfaces. Besides, WaykiChain team plans to take a part of WICC as reward those developers who have made important contributions to the community. WaykiChain is committed to building an underlying technology platform that truly integrates blockchain application and real business. Along with its development, WaykiChain will gradually grow into a big ecosystem with totally decentralized operations, and brings the convenience of blockchain to every user.
3. WaykiChain’s Technology
High Performance and Expandability
WaykiChain is a public blockchain with high concurrent processing capability and generates a new block at a fixed interval of 10 seconds. Through rigorous engineering tests, the average transaction throughput is verified as 1000+ TPS for coin transfer transactions and 100+ TPS for smart contract based transactions.
WaykiChain adopts Delegated Proof of Stake (DPoS) as the blockchain consensus mechanism since it is most energy efficient, offering high transaction throughput while maintaining a certain level of community driven decentralization. There are in total 11 ledger nodes (i.e. block producers), responsible for validating and packing all network submitted transactions into blocks. During block creation, a ledger node collects reward tokens that are carried within each transaction. The 11 ledeger nodes take turns in block creation by the time interval of 10 seconds and the sequence of whom to do block creation at a specific time slot is randomized to avoid prediction by external observers. The overall network could experience infrequent hard forks due to network or ledger node performance instability. However, the robust consensus algorithm allows a quick recovery from one or several hard forks by resorting to a unified single longest fork and the network will thence stabilize and perform steadily again.
The 11 ledger nodes are elected through a never-ending voting process. Individual coin holders can cast their votes to the candidate ledger nodes. Each vote can be cast for up to 11 candidate ledger nodes. By so doing, the amout of WICC coins which is equal to the the amount of votes will be locked into the network, similar to bank saving activities. By the next voting events (i.e. increase or decrease the votes, vote for new candiates) a certain amount of interest coins will be newly generated and released to the person who previously cast votes to the candidates. The interest rate plan goes as follows: the first year’s interest rate is 5%, it will decrease by 1% annually in following years. Once it reaches 1% as the interest rate, it will stablize as 1% for all the subsequent years. The top 11 candidates who recieved the top most votes cast by community coin holders automatically becomes the ledger nodes and take turns with certain randomness by a random perturbation algorithm to do the block creation by validing and packing the transactions into a new block.
Technology Architecture of WaykiChain Ecosystem
WaykiChain aims to develop its underlying public chain technology into a big ecosystem, so that numerous industries can build their own applications and services based on WaykiChain public chain. WaykiChain has set up the following technology architecture, as shown in the image below https://preview.redd.it/lcj249b8qr621.png?width=1219&format=png&auto=webp&s=0f6506ba2f57d0b32291c0ba741895a4ddaca735 WaykiChain core technology team is committed to providing the develop-friendly interfaces of each layer and improving the technical documentation to help the community better build the ecosystem.
WaykiChain's smart contracts are written in Lua scripts and processed within Lua Virtual Machine engine. Lua's various libraries are built in for developers to leverage. Due to the openess and compleness of Lua script and its liabrary provided in WaykiChain software, developers can build many forms of appliations that meet the requirements of Turing-complete computing scenarios. Lua scripting is relatively simple and requires no pre-compilation, and is thus also easier to deploy compared to other smart contract implmentation.
4. How Does WaykiChain Work?
WaykiChain uses a DPoS consensus mechanism with eleven accounting nodes. The annual rate of return is 5% for the first year, with a 1% increase with every year that goes by. Each time a block is created, an accounting node is randomly associated. The accounting node gains all of the transaction fees in its accounting block. Users can earn interest by locking WaykiChain coins. The interest is automatically determined each time the votes for the corresponding user account change. The terms of betting are triggered by the initiator through smart contract transactions. Users can initiate various betting contract transactions, all of which can be searched and identified in the block browsers. When the betting is over, the bet initiation will publish the final results and the gaining will be then shared accordingly. In short, the betting revenue is automatically issued to the user’s wallet after the betting results are displayed. The smart contract provided by the platform makes it possible for asset initiations to create dividend sharing rules. These rules are only triggered by various conditions. Hence, the final price of the assets in circulation will be determined by the market’s behavior towards the object in the transaction.
5. WaykiChain’s Applications &Dapps
Waykichain Token, WICC is a token only used and circulated in WaykiChain Wallet on our DApps. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC Lock Revenue Sharing Plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. This means WICC will be listed on lots of exchanges and traded with other cryptocurrencies, thus WICC also has trade value.
Decentralized App- WaykiBet
BACKGROUND- The first smart contract based application delivered by WaykiChain’s team is the WaykiChain decentralized betting application. In this application, the smart contract will assign a time duration in which the user can engage in the betting process. All the conditions related to betting will be given. When a bet is finished, the contract will release the results. The smart contract will then reward the winners. This DApp was launched in May 2018, attracting over 130,000 users to download and bet and has been upgraded to V2.1 ever since. The latest product WaykiBet DApp V2.5 is planned to launch in November along with a new WaykiChain wallet. INTRODUCTION- WaykiBet is a DApp developed on WaykiChain that allows strangers to build betting transactions without a trust base. WaykiBet has lowered the barriers for users by using smart contracts to deliver payout automatically, and recording transactions on blockchain with zero handling fee, providing users the best and fairest betting experience. Everyone Can Build a Bet More flexible: With smart contract, WaykiBet works like a betting contract exchange and everyone can build their own bets. Fixed Odds More interesting: Effectively avoid the fluctuations brought by floating odds in some less popular games. Betting with Odds Ranking More intense: Betting builders compete via odds ranking, and users can freely choose odds. Smart Contract to Deliver Payout More fairness: Winning of a bet will automatically trigger the blockchain smart contract to deliver the payout, without manual participation in the whole process. Betting Records on Blockchain More transparent: All betting transactions are recorded on blockchain and can be traced by everyone, which is totally open and transparent.
Decentralized App- WaykiTimes
The new WaykiChain wallet, named as WaykiTimes, will retain the original wallet functions, such as Lock Revenue Sharing and node voting. In addition, WaykiTimes is mainly designed for WaykiChain and cryptocurrency investors, developers and business partners. In addition to its wallet function, WaykiTimes has also added news and community modules. WaykiTimes is the one and only official platform for you to get thorough information of WaykiChain project. In WaykiTimes, you can easily get to know the latest WaykiChain updates, freely post and comment in community, and discuss hot topics with other crypto enthusiasts. At the same time, WaykiTimes also has WICC transfer and lock functions.
WaykiChain Block Explorer
WaykiChain official block explorer is a data display system for WaykiChian applications, which displays the WICC transfer and transaction records, account balances, prediction games transactions, and payout results according to application data on the blockchain. All data is open and transparent and inherently irreversible.
6. What is WICC? How to Buy WICC?
WICC is the token launched by WaykiChain. In order to buy WaykiChain (WICC), we recommend you to buy some BTC or ETH (the highest volume trading pairs) from an exchange that accepts them. Then, you will have to find a marketplace that sells WICC in exchange for the aforementioned cryptocurrencies. We recommend you to buy WICC at AEX or Huobi Exchange (AEX and Huobi has already supported WICC mainnet migration). For more information on this matter, you can visit CoinMarketCap. When it comes to storing your WICC coins, it’s recommended that you use the wallet function on WaykiTimes V2.0 or WaykiBetV2.5. By consuming the tokens, you can also use various applications on WaykiChain.
7. What is the use of WICC?
WICC is a token used and circulated in WaykiChain Wallet on our DApps. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC lock plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. WICC has been listed on over 100 exchanges and trading with other cryptocurrencies for almost 1 year, thus WICC also has trade value.
8.What are WaykiChain's advantages as a public chain 3.0?
The first one would be the low entry barrier to our eco-system. For developers or Dapp operators they do not need to develop from the chain directly, instead, they only need to develop from the template we published. Even if you are not able to find a team of developers who understand blockchain, you can still deploy the Dapp and run it to make profit. And Waykichain will benefit from all transactions happened since you made this chain active. The second advantage is the product it-self. WaykiBet2.5 is user-friendly to those who do not understand crypto-currency or blockchain technology. In WaykiBet, we initiate a stablecoin using the mechanism like BitShare. The Dapp runners or some acceptance dealer need to pledge some WICC to the smart contract and get stablecoin. By doing this, users can directly buy the stable coin in the Dapp with fiat money, instead of going to the crypto exchange. Moreover, WaykiChain designed a mix of centralized and de-centralized technical structure. By doing this, users don’t need to pay for the gas but the smart contract owner. Moreover, the performance of the entire system can be improved without losing the public creditability. The whole process, being centralized and recorded, can be verified and tracked. Theoretically, this mixed-structure can afford more parrelled transactions at the same time than all other decentralized system.
What is WaykiChain decentralized betting application?
WaykiChain decentralized betting application is the first smart contract application launched by WaykiChain team. Each betting is triggered by the application developer via a smart contract. During the period specified in the contract, the users can initiate betting transaction, and all betting records can be traced on the blockchain browser and can never be tampered with. The smart contract will automatically reward the winners based on the final result. WaykiChain will use smart contract to automatically execute the game rule on its public chain. Instead of relying on trust between people, WaykiChain betting application adopts trust among machines to save credit costs, and guarantees full compliance with the rules setting. Besides WaykiChain Official, the developers of the decentralized applications can be any other third-parties. WaykiChain welcomes all developers to join.
What is WaykiChain Address?
WaykiChain address is a 34-bit string consisting of English letters and numbers that may look like digital gibberish. My WaykiChain address WXv6xP8yVW4PkZ3DPvxqfBtfz7Bof1RJHm, as an example, looks like this. All transfer records for each WaykiChain address can be found through the blockchain explorer. The address is a personal WaykiChain account like your bank account number. Anyone can transfer WICC to you via your WaykiChain address. How do I get my own WaykiChain address then? You can download a WaykiChain Wallet on WaykiChain official website, or register one on trading platforms. Each user's WaykiChain address is unique. It should be noted that each WaykiChain wallet can only create one address, therefore the wallet mnemonics must be kept carefully.
What is WaykiChain mainnet migration?
WaykiChain (WICC) mainnet migration is the process of replacing the previous Ethereum-based token ERC20 TOKEN with WaykiChain mainnet token. WaykiChain public chain, through several months of testing and rigorous evaluation from the exchange platforms after its release, has been fully proven to operate efficiently and stably. Mainnet migration marks that WaykiChain public chain is actually putting into use. After the mainnet migration, various applications and developments based on WaykiChain can be launched, and the service period of WaykiChain public chain truly starts. The dividend mechanism, voting mechanism, gas consumption, and accounting fees on WaykiChain ecosystem are all completed by the mainnet token. The previous ERC20 tokens do not have these functions. By the end of June 26th, AEX Exchange, Huobi, CEO Exchange, Bying Wallet etc. and 23 exchanges in total have supported WICC mainnet migration. There will be more exchanges and wallets supporting the migration in the future. Please follow WaykiChain's channels for more details.
Are there any requirements or restrictions for developing projects on WaykiChain?
WaykiChain's code is completely open. WaykiChain welcomes third parties worldwide to develop, carry and operate various application products on WaykiChain, and finally form a diversiform public chain community ecology. WaykiChain is happy to provide public chain technology support for any individuals or third parties. Applications developed and operated by third parties, based on WaykiChain public chain, need to comply with local laws and policies. Only after obtaining related licenses, permits or qualifications required by local laws and policies, developers and operators can launch and operate their applications on WaykiChain. Because of blockchain public chain's globality, anonymity, open code, and the limitation of our ability, WaykiChain Official cannot judge the identity of third parties, nor have the ability and right to verify, supervise, control or interfere the third parties. Therefore, third parties should bear responsibility of their own actions.
10. Contents Expected to Read About WaykiChain
It would be great to create a post for everyone by posting what they want to have for future releases of the Waykichain DApp or anything related to using Waykichain. Therefore, please comment under this thread about your interested contents or create a post directly to express your perspective on WaykiChain.
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Because i expose scams and those scammers spread lies...already sued one penny stock promoter and won, but their skillset is spreading misinformation on the internet so it works well to smear me...but they couldnt stop Link to tim.ly or Link to tim.ly and as i create more millionaires, more people will realize i'm 100% right...until then let the haterade flowww.
Its Etrade PRO but I don't recommend them -- I only use them as I'm superstitious and have made too many millions of dollars with them over 15 years...Otherwise I'd recommend Link to stockstotrade.co as it has great scanning/screening tools too.
I am more aggressive in my trading when my account is small, I'd use 30-50% per play but watch the play like a hawk...for example I shorted ARTX yesterday at 4.50, today it dropped to 3.90...if i had $15k I would've shorted 1,500 at 4.50 and tried to cover at 4ish today to lock in $750 profit...then rinse and repeat and gradually grow the account.
I was hoping that would happen when I first got into teaching so I could get more sleep! Sadly only a few people take the time to learn...I also buy and am up 100% in 4 months in 2014 mostly buying too.
As I say in my Link to timothysykes.com DVDs, I try to think of myself as a retired trader who only comes out of retirement for the perfect setups when I know I'll feel guilty missing...otherwise I'm retired ALL the time, understand?
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Automated vs Manual Trading (Are Forex Robots Better ...
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