At risk of offending even more people: It feels like #CryptoTwitter is more preening & self-promotion than information exchange. You wanna find (or better, pay) someone to tell you what to trade next, sure! You wanna educate yourself how to tell what to trade next, or learn whether that’s even really possible…nope. So, where next? Ideas?
I’ve never before been involved in a profitable pursuit (and there’ve been a few) that didn’t have some community somewhere of beginners figuring it out together, along with a few generous folks sharing considerable expertise. (And FYI, I was usually one of those sharing, not seeking…a lot of my frustration with trying to “learn to trade” has been being on the unfamiliar knowledge-seeker side of the fence.)
If you scroll back through my twitter feed, you’ll see I share indicators that took me 100s of hours to develop, for free, along with fairly detailed explanations of the algorithms behind them. Maybe I’m lucky, but in my experience, that’s how professionals act. And I’m not even a profitable trader.
But CT seems to be mostly people sharing one-time info (“give a man a fish”) peppered with the occasional offer to pay monthly for more (whatever ‘more’ might be.) It seems predatory, not educational.
People make all kinds of excuses for this (“Nobody will give you alpha for free”) but my past experience with lucrative pursuits has been that there’s always enough room for small fry that the experts are free with information on how to become an expert yourself. This would seem especially true in trading markets. I can understand an institution not divulging their HFT algorithm, but retail traders are so inconsequential in terms of moving the market that I don’t believe any experienced retail trader has legitimate reason to fear for their profits simply by educating other retail traders.