May 1, 2023
Crow is a part-time trader, active in the crypto markets since 2019.
What attracted you to trading?
Honestly, I'm living in a poor country, and it's getting worse every day. So a few years ago, I thought to myself, I can't get old in this shitty country, and I can't let my brother grow up here. I asked around, and crypto was something that at least could give me a chance to have a better life. And my journey started there.
Was there an existing community where you lived or did CT become your community?
CT is the first community I've liked, people don’t really hold back their thoughts. They’re not nice people, but they are kind! Kindness is everything.
How long have you been trading?
I've been in crypto since late 2019. To be specific 2 weeks before the Xi pump. I tried forex and crypto, but I'm mostly trading crypto. The way I trade, I have more free time on the weekends and trade more, so crypto suited me better.
How long did it take you to become profitable?
It took me long enough, I think it took around a year to finally be profitable, and the bitcoin local top in April was a point where I made some massive profits. Somehow I managed to short the 58k retest and held it long enough to 5x my whole account in a single trade.
For the first year, I had less than $10k in my name. It was hard, and I never thought I could get past that number, but at some point, things started to change. I took 70K out and bought an apartment for my parents. Still the best thing I’ve done in my life so far.
I took 70K out and bought an apartment for my parents. Still the best thing I’ve done in my life so far.
What does a typical day look like for you?
I'm a part-time trader. So I go to work, and after that, if I have time, I scan the market, if there is a scalp to take, I'll take it, but because I'm not there all the time, I'm mostly swing trading.
What kind of work do you do?
I’m electrical engineer, I work in energy production. It doesn’t share any specific skills with trading, but I learned that not everything is worth the risk. I’ve developed a discipline to let things go instead of sticking to them, and it’s made me more efficient overall.
I’ve developed a discipline to let things go instead of sticking to them
Who did you look up to when you first started trading?
Rektproof was the first person I followed in 2019, he was and still is a really great trader. But I also have a huge respect for @Big_Beta_Sensei. In April 2020, when I was down-bad, I had around $100 to trade with, he gave me $500 (which I cashed out $100 of it to spend so my brother and I didn’t starve to death) without any question, he just did it and never even asked for anything in return, I will never forget how he saved my ass that night. Margin and leverage trading is a solo sport, but when it comes to investing, you can’t make it without friends. Make friends, it’s worth more than the money. Friends will save your ass.
when it comes to investing, you can’t make it without friends
Tell us about your most memorable trade
A friend of mine(the4dtrader), told me about a project called unipilot, I bought it at $3ish and another friend (@ahmadalostath1) talked me into selling it at $82. Luckily, that turned out to be the exact top.
What’s the best trading advice you’ve been given?
"Use that fucking stop loss you fucking idiot, that's your only way out". I don’t really remember who told me that but whoever it was, saved my ass many times! Back then, I was stupid and didn’t use stops. I’m brave enough to say it out loud, it was probably the most stupid thing I did in my life. It’s always better to lose capital because you were wrong on an idea, rather than because of your pride.
It’s always better to lose capital because you were wrong on an idea, rather than because of your pride.
What drives you to keep trading?
To get out of this shitty country one day, knowing me and my brother will have an easier life outside. I’m pretty close. Maybe 2 or 3 years to get there. Setting smaller goals makes it easier to get there, I set so many goals in between, mostly portfolio all time highs.
Would you say you’ve ‘made it’?
Not yet, But I will make it. I'm not asking for much, the moment I make $250K-$300K, I'll pack my stuff and start my new life. I just want a simple peaceful life where I don't have to save money so I don't starve at the end of the month. Although right now I have a pretty stable life and I'm financially ok, ultimately, I want to emigrate.
What's the most important quality in a trader, and why?
Understanding stop loss is a way to protect their capital. Most people are afraid to admit they're wrong, so they stick to their trade and mostly get liquidated. Just use the tool and get out before it's too late.
Most people are afraid to admit they're wrong, so they stick to their trade and mostly get liquidated.
What risk management do you use apart from stops? Do you trade a set %?
Not having all my capital on exchange is the most important element of managing risk. The same goes for not having all my capital in crypto. For a trade, there is no fixed percentage. First I find my entry and SL, then I enter with an amount that if I get stopped out, I’ll lose 0.5-1.5%
How would you describe the way you trade?
I often try to catch the move instead of the bottom or the top, it’s easier and less risky to follow the trend instead of fighting it. Knife catchers lose way more money than they expect.
Also, understanding where you’re wrong is so important. People missed a 100% move from the bottom because they thought we’d see 10k. Some have taken a beating with shorts. They’d have performed better simply following the trend.
Knife catchers lose way more money than they expect.
Has the way you trade changed over time?
Yes. The more you fuck around, the more you'll find out. Trading isn't a straight path, you'll have your ups, and you'll have your downs. You're gonna make some changes to make it worse and make some changes to make it better. I've made a lot of changes, and there were a lot of mistakes. If I could tell the younger crow one thing, it would be this: If it works, don't touch it.
The more you fuck around, the more you'll find out. Trading isn't a straight path, you'll have your ups, and you'll have your downs.
Why do you think you have success trading?
Because I didn't quit. Most people get out too early, I had my period of being unprofitable, and I just didn't quit. Yes, I admit I had some help as well, but even without that, I would have stayed in the game. For me, it’s a win or lose it all game, I have no other choice, so every day I wake up, I have this understanding that if I fuck up this chance, I’m done for.
What's the worst thing about trading and why?
It's a really stressful job. Unlike the other jobs, you're not going to get paid at the end of the month! You have to make every penny, and it's not as easy as it looks.
What's the mistake you find hardest to avoid when trading? Any tips to avoid it?
Insisting to trade. Sometimes your system doesn't give you and signal to trade, but you just can't control yourself, and it's a problem I still have and don't know how to fix.
If you could give someone starting trading tomorrow one piece of advice, what would it be and why?
The market is always going to be here. You can trade anything that you want, anytime you want. Don't rush in, and take your time to learn. Cred has an incredible course for the beginners, also @abetrade’s website is one of the best. You should read every single word of it and probably save it for yourself. But in the end, nothing is a better teacher than the market itself.
in the end, nothing is a better teacher than the market itself.
How would you describe your relationship with risk?
When it comes to margin, I always take time to calculate every single penny I put in, and it's a rule I'll never break. But when it comes to spot trading, sometimes I risk more than I should. It kinda works for me. I accept this risk because I spend the time looking for the best probable performers, I mostly invest in legit projects instead of betting on memecoins. Yes, things can go wrong, but it’s worth the effort.
What goals do you set for your trading?
To increase my win rate. It has been slowly decreasing, and I have to make some changes to make it right. Probably will take 5-6 months to do so. The market is always changing, we as humans also change and lose discipline, it’s pretty normal. To outperform others, you must intervene before it’s too late and get back to it.
Fill in the blanks
Most traders would be better off buying high/mid caps and holding them instead of touching margin.
What separates the pros from the rest is timing. Sometimes you're too early. Sometimes you're too late.
A good trader should never risk more than he/she can afford.
The biggest misconception about trading is that using leverage will make you rich. All the people I know got rich by buying the right coins, not by longing them.