Not a crypto post

Discussion in 'Crypto Assets' started by garachen, Nov 9, 2017.

  1. garachen

    garachen

    This is a trading post. Not a crypto post or endorsement.

    I don't visit here often anymore. I generally trade futures. Around a hundred million contracts a year - so I know of what I speak.

    Recently I have connected to several crypto exchanges and started trading those. I will make the bold statement that, regardless of how you feel about the intrinsic value of the crypto space, there is absolutely no reason for a talented trader on a sub million dollar account to be trading anything other than cryptos.
     
    MrMuppet, Cuddles, Sprout and 3 others like this.
  2. pinetboltz

    pinetboltz

    interesting lead, what kind of leverage are u talking about?
     
    tommcginnis likes this.
  3. Are you going to only trade cryptos?
     
  4. garachen

    garachen

    No. Because I have a lot going on in futures.

    But I will build out a 5-7 person crypto desk. It's certainly worth doing that.
     
  5. garachen

    garachen

    My leverage is very low because I have a large position.

    A good lot size for daytrading is around $200,000 worth. More than that and you start to spook the market. Which is bad if not intentional.
     
    Sprout likes this.
  6. pinetboltz

    pinetboltz

    wow, didn't realize 200k is currently enough to move bitcoin, intl market and all that

    i'm waiting for futures to come out, it'd be good if they have 10x leverage, also the centralized liquidity
     
  7. garachen

    garachen

    The markets are only loosely tethered for a variety of reasons.

    The CME contract will be good. I assume you've seen the specs. 5x multiplier and $25 increment. Non member fees will be high but lower than almost every cash exchange.

    What will be very interesting is the Sunday afternoon reopens and the fork arbs. There's no elegant way to handle those.
     
    Sprout and Zr1Trader like this.
  8. pinetboltz

    pinetboltz

    yea maybe cme should just allow 24/7 trading for all markets, this being a new era

    now that would be fun, traders need to trade and money has to be made
     
  9. sle

    sle

    Personally, I think it will fail. For a number of reasons, main one being cash settlement.
     
    Illini Trader likes this.
  10. garachen

    garachen

    The big problem with physical settlement is that clearing firms aren't ready to handle delivery.

    I've lived through many an index manipulation. Sure, it will probably happen and it will hurt but I think it's a fixable problem. But, I've heard many others who prefer a physical settlement.

    I plan on quoting it and I know others are too - which is better than most product launches.
     
    #10     Nov 10, 2017
    Sprout likes this.