Academy Industry Analysis Article

OKEx Academy: A Talk with Your Favorite Trader Feature interview with Coin Buster


Welcome to OKEx Academy’s new interview series “A talk with your favorite trader. In this series we will bring you short interviews that feature crypto traders, reveal their insights, perspectives, words of advice to fellow traders, and some fun facts about them that you probably never knew of. 

Who ya gonna call! This time we have Coin Buster (@Coin_Buster on Twitter), trader, and founder of @CryptoALaCarte to share some of his advice. 

Please share with our community how you start your day! What do you do first thing in the morning? How do you spend the majority of your time? What kind of stuff do you put the focus on aside from trading and crypto?

I wake up every day around 6:30 am. It is important to get up early and have a great overview of how the market will behave during the day, so the first thing I do when I wake up is to check BTC price, what it has done overnight and how my trades have been like (if I have any ongoing).

If I need to manage a position quickly (as big moves usually occur an hour after I wake up), I switch my computer on and open TradingView and the exchanges I trade on.

Then I’ll have a good breakfast, reading the news, and going back to the chart to see if I can spot other good opportunities.

During the day, I’m spending a lot of time on Crypto A La Carte, which is a project I founded with my friend and partner Rubot about six months ago. It requires a lot of attention, management, customer support and research to spot new talented traders who can join the team.

Usually most part of the afternoon is dedicated to trading (intraday trades mostly).

I think it’s really important to have time to chill because this market is 24/7 and one could burnout easily, so I leave the keyboard around 7 pm and spend some time away from till 10 pm or so. Then I check the charts one last time if I’m still in a trade, to manage my position before going to bed. I usually go to bed before 11 pm to get a restful night. 

What is one surprising fact about you that people wouldn’t expect?
I eat a bowl of ice cream every day. One ice cream a day keeps the doctor away…ugr!

Did anyone inspire you into a trading career?
@Elisa_Crypto on Twitter is one of the most influential traders in my trading career and also one of the best traders I’ve met so far.

What headlines surrounding cryptocurrency (or non-crypto) are you following closely these days?
As a lot of people are right now, I have been following the economic situation caused by the COVID-19 crisis. While most countries are re-opening businesses and lifting lockdowns, I am really curious to see what is going to happen next. Like if there is going to be a second wave? Are there any consequences on the macro-economy and on the markets etc.
I’m also reading a lot about the American situation as I believe Trump re-election, or defeat (which is obviously tied to the COVID-19 crises), could have a huge influence on the markets.

We always tell our community it’s OK to learn! It’d be great if you can share some of your experience and insights with our fellow traders.

What is your favorite/most used technical indicator?
I barely use indicators because I find them laggy but the one I use the most is RSI when I want to get further confirmation on a level to buy or sell.

What has been your biggest failure in trading? How did you recover from it, and what, if anything, did you learn from it?
When I first traded with margin, I didn’t manage my risk at all. I was close to being liquidated and was feeling so bad I couldn’t recognize myself.
That was a turning point for me. From this moment, I really worked on risk management and have very strict rules now.

Any must-know skill set for rookie traders? And what to avoid/common mistakes when making technical analysis?

Screen time is the most important thing. You can spend thousands of hours learning about TA in books or watching videos, with new methods. There’s an ocean of things to learn and even 10 lives wouldn’t be enough to read and watch 5% of the material available online.

Learn about one strategy, try to refine it with your own observations you made watching the charts and journaling your trades. Don’t waste thousands of hours watching new strategies!

How/where to get trade ideas?

Crypto A La Carte! That’s why we created this platform. You can select the trades you want to unlock, whenever you want, based on the statistics of the trader, the exchange, the % and R. There’s no monthly subscription and the information is fully transparent so you can decide to unlock or not with all the information you need!

Day-trading vs. medium/long-term investment, which way you prefer?
I’m mostly a day trader because I like to get quick results and most importantly, I don’t like to be in a trade overnight (when I can’t manage it).
I also own long term investments that are in a cold wallet I don’t even look at.
Investing is really different from trading and the trap is to trade your long term investment on a daily basis. Most of the time, you end up losing time and money doing so.

Thank you so much for sharing! Now we have a fun question for you!  How many days until $BTC is back in the $10000s?

I would say about a week or so. That being said, my bias changes a few times a week, depending on the chart.

Finally, please give our community one last suggestion of how to become a good trader!

“The greatest danger occurs at the moment of victory” – Napoléon Bonaparte

Thanks to Coin Buster for taking the time to chat with us! If you want to learn more about crypto trading, make sure to follow him on Twitter and Crypto A La Carte Telegram group

Follow OKEx Academy on Twitter if you have any questions for us!

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