SwissBorg’s Anthony Lesoismier discusses how to not get ‘rekt’ while trading crypto (or other assets)

CryptoSlate

You can bet that day trading  crypto is arguably the fastest way to lose money. After all, over 90% of all wannabe traders end up losing money when trying their luck in the market, and usually end up losing their capital (or, worst, in debt) while trying to print millions instead.

Several aspects are to blame. Social media influencers make trading look easy, but the reality couldn’t be further away. Trading is a rather stressful, round-the-clock endeavour that requires strict risk management, adequate amount of training and capital, and an iron-clad strategy that ultimately makes money after one incurs all those pesky trading fees.

How To Get Free Crypto  

But if you’re still looking to grind and searching for tips, look no further than Anthony Lesoismier, the chief security officer and co-founder of crypto app Swissborg. Lesoismier started out as a quantitative analyst for hedge funds back in 2008 and worked in sales trading for the next nine years or so.

It’s there that he learned the in and outs of the markets, tackling both psychological and technical challenges to build out a successful career.

Today, Lesoismer sat with Alex Fazel of crypto edutainment platform CryptoNites to reveal a little bit about all his learning, sharing tips, tricks, and other risks that budding traders face ahead of them in the unforgiving market.

Tip snippets for crypto traders

Strangely enough, Lesoismer says that most successful trading strategies usually end up having a low hit rate. “If you want to become very successful together, usually, the percentage rate of your trades are extremely low, because you will try to get the valuable signal and you will fail because most of the time it’s noise,” he shared.

Coinbase Banner  

“So noise makes you a profit, then a loss of profit, small profits of loss or smaller, smaller, smaller. So you start to doubt yourself in the process. I think Bitcoin is going to go up, you go, you take a position and then you lose a bit of money,” he added.

The mental aspect of trading is yet another challenge, he shared. “When you have a new graph in front of you, it puts so much pressure on you, right? That’s why as well, you know, sometimes people say I do believe in fundamental analysis, or I do believe only in technical analysis, but actually, the two can be complimentary, because it gives you that you should never neglect the psychological part of investments,” Lesoismer said.

He added, “Sometimes, even though your technical analysis is extremely helpful when it comes to your position, reading news meetings, founders going to conferences help you as well, to get more confidence.

“And confidence is part of the process. You shouldn’t only be blind, and confident, but you should be aware and confident.”

(Check out the rest of Lesoismer’s thoughts on crypto, card trading, poker strategies, Bitcoin and much more in the Cryptonites episode, available for streaming in full right below!)

FreeBitcoin Banner  

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Posted In: Bitcoin, Videos

Like what you see? Subscribe for updates.

Go to Source
Author: Shaurya Malwa


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.