Quote from: Sengoko on September 14, 2017, 11:26:47 AM

Quote from: cryptaolee on August 17, 2017, 09:59:59 AM

Hi all,

I'm new to the crypto space. I played professional poker for the past many years and thinking about trying out trading cryptos. However, I am skeptical from a game theoretic point of view as to whether I can gain an edge.

In poker part of your edge comes from knowing who your opponents are. With that information you can select your opposition to a certain degree, thereby increasing your edge. In the world of trading this is not really possible. I guess maybe some exchanges will have softer competition than others but you don't know exactly who you're trading with (amateurs or pros).

From what I understand the main skills needed is to predict trends and understand the potential of the new technologies popping up. On a micro-level that would translate to:
a) Being first at receiving market news and understanding how they will affect certain coins and the market as a whole.
b) Understanding market dynamics including being able to use a variety of charts to identify possible patterns.
c) Have a technical understanding of the technologies behind the different coins and thereby being able to estimate their potential.

1) Am I missing some?
2) How would you weigh these skill sets?
3) Is it possible to gain an edge without much technical knowledge?

4) Someone told me around 1 in 10 traders are able to beat the market. Not sure where he has the number from though or if was on the stock or crypto market. Has anyone heard a similar or different number?

Lastly if anyone can link to previous best threads on:
- Best books for learning trading.
- Trading strategies in general

Sorry if this post comes off messy. I still have a bunch of questions but I'm gonna cut it short here and save the rest for a different post.

There is no short cuts in the crypto market, you get to earn or profit from the decisions you have taken or made. If you made the right decision, fine that ends in a profit, if its the wrong one then its going to screw you.

exactly there is no shortcut to be millionare or get extremely high profit. even in trading you should be enough capable to invest in the good quality coin and for this you should be good enough to identify that because there are many spam coins and ico's in the market in which newcomers invest and get loss.