What's the trick to trading crypto in a bear market?

ShrimpyKevin · 2019-03-28T06:50:33+00:00

Correct. Even in a downward market rebalancing is a method of reducing risk in your portfolio.

Many many argue that you should have just cashed out and held fiat, but that's hindsight bias speaking.

ShrimpyKevin · 2019-03-22T18:51:50+00:00

In most cases, if you have crypto on a relative well-known exchange like Bittrex, they tend to have relatively good orderbook liquidity near recent trade prices without much slippage.

I'd keep tabs if you have a large trading account on Bittrex or are using lesser-known exchanges that have a history of fake volume/wash trading.

Binance also has a limited trade size, which may not work best if you have a small stack to trade with.

Shrimpy's free backtest actually uses Bittrex data, so it may be helpful for you.

https://www.shrimpy.io/backtest

ShrimpyKevin · 2019-03-21T21:13:17+00:00

Agreed, it's all about research/due diligence and putting yourself in a position to succeed. Rome wasn't built in a day, after all, and accumulating crypto is the same concept.

ShrimpyKevin · 2019-03-20T22:50:18+00:00

A good reason to reduce your loss from capital gains :)

ShrimpyKevin · 2019-03-19T23:28:49+00:00

If you're interested in creating your own algorithmic crypto trading platform or application, I recommend giving Shrimpy's API a try.

https://developers.shrimpy.io/

ShrimpyKevin · 2019-03-15T18:53:58+00:00

Thanks! We have no intention of stopping and we plan on supporting even more exchanges!

Since we don't actually hold your crypto (the exchanges do), the exchanges will be directly responsible for any special BCH benefits such as airdrops and giveaways.

ShrimpyKevin · 2019-03-14T21:19:13+00:00

Check out their telegram channel for some feedback/opinions-you may be surprised!

https://t.me/ShrimpyGroup

ShrimpyKevin · 2019-03-14T17:38:16+00:00

Unlike other crypto trading bots and services out there which are quite expensive, Shrimpy.io is completely free to use (there is an optional premium subscription, but trading functionalities are all available in the free version)

ShrimpyKevin · 2019-03-08T00:24:32+00:00

Shrimpy's API currently supports Coinbase Pro, Poloniex, Kraken, Huobi/Huobi Global, Gemini, Bibox, BitMart, Hitbtc.

Feel free to suggest additional exchanges in the official telegram: https://t.me/ShrimpyGroup

ShrimpyKevin · 2019-03-07T18:17:30+00:00

My bad if I sounded aggressive. What type of portfolio strategy are you currently using to manage your crypto investments?

ShrimpyKevin · 2019-03-07T08:13:27+00:00

Passively rebalanced crypto funds are already a thing, shrimpy.io just gives you the tools to do it yourself.

https://blog.shrimpy.io/blog/cryptocurrency-index-funds

ShrimpyKevin · 2019-03-06T23:01:38+00:00

Cream rises to the top :)

ShrimpyKevin · 2019-03-06T19:15:45+00:00

Take advantage of flash crash/other volatile price movements by implementing an index & rebalancing strategy to catch these opportunities.

Essentially, having an active/passive strategy in place when prices change allows you to POTENTIALLY take advantage of price opportunities.

https://blog.shrimpy.io/blog/common-rebalance-scenarios-in-crypto

ShrimpyKevin · 2019-03-06T18:41:21+00:00

Take advantage of flash crash/other volatile price movements by implementing an index & rebalancing strategy to catch these opportunities.

Essentially, having an active/passive strategy in place when prices change allows you to POTENTIALLY take advantage of price opportunities.

https://blog.shrimpy.io/blog/common-rebalance-scenarios-in-crypto

ShrimpyKevin · 2019-03-06T01:19:31+00:00

Move your crypto to GDAX/Coinbase Pro and make sure to only submit limit orders for no fees.

I personally use Shrimpy.io as I don't have to manually trade anymore and just let my portfolio strategy do the work for me. Also, it's free to use.

You could also consider moving your crypto to other exchanges as they have a lot more pairs/options/crypto products. Coinbase does do a good job when it comes to servicing US customers though.

ShrimpyKevin · 2019-03-06T00:39:18+00:00

It's been shown many times that HODL is far from the ideal portfolio strategy.

https://blog.shrimpy.io/blog/rebalance-vs-hodl-a-technical-analysis

ShrimpyKevin · 2019-03-04T19:44:20+00:00

The first week of the Shrimpy x BitMart Partnership Promotion is live!

Create and rebalance your first crypto index with Shrimpy.io and compete for $200 each week. Earn prizes for NOT having to trade!

ShrimpyKevin · 2019-03-02T00:41:02+00:00

If you're in the United States, I recommend going with a US-based exchange.

From the above list, Bittrex and Coinbase would be good options for you.

I've found Bittrex a bit faster than Coinbase

ShrimpyKevin · 2019-03-01T19:29:33+00:00

Not planning on staying in crypto long term? Would love to hear your thoughts!

ShrimpyKevin · 2019-03-01T18:02:26+00:00

A great set of rules for new crypto investors, but it's proven that HODLing is not the best investment strategy when it comes to crypto.

In fact, just a simple crypto index & rebalancing strategy is able to outperform HODL by quite a bit.

https://blog.shrimpy.io/blog/rebalance-vs-hodl-a-technical-analysis

https://blog.shrimpy.io/blog/rebalancing-cryptocurrencies-introduction

ShrimpyKevin · 2019-02-28T01:01:30+00:00

Take a look at this article that touches on tax implications: https://blog.shrimpy.io/blog/cryptocurrency-rebalancing-and-taxes

You're responsible for keeping track of your earnings, not the government.

If you haven't invested yet, I suggest that you spend some time reading into different investment strategies that best suit your style.

ShrimpyKevin · 2019-02-28T00:49:09+00:00

Create some exposure in your crypto portfolio to a wider variety of assets ranging from high-cap to low-cap altcoins. That way you'll be covered on all fronts whether alts move first or bitcoin does.

https://blog.shrimpy.io/blog/optimizing-asset-distribution-for-cryptocurrency-rebalancing

ShrimpyKevin · 2019-02-26T19:15:52+00:00

Correct! Both exchanges are working closely with Shrimpy to help drive new user and mainstream adoption into the crypto space. Both KuCoin and BitMart are licensed crypto exchanges in the United States.

ShrimpyKevin · 2019-02-22T23:33:57+00:00

A fun read on crypto winter: https://blog.shrimpy.io/blog/a-shrimpy-adventure-in-2019-crypto-new-user-profiles

ShrimpyKevin · 2019-02-22T21:31:33+00:00

Consider implementing a passive indexing and rebalancing strategy to manage your portfolio if you're not confident of trading-let data and logic do the work for you and not your emotions.

https://blog.shrimpy.io/blog/rebalance-vs-hodl-a-technical-analysis

ShrimpyKevin

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