All right guys, are you ready to learn the difference between Trade Or HODL, and why it may be a better strategy to choose one over the other? Welcome in, I’m David, I’m here with cryptotutorials.org. Today, I got a good friend of mine, who goes by the name of Fun Uncle. He is a friend from LADZ City, and he's an OG crypto trader. This guy has been doing it since 2016 in mining Bitcoin, mining Ethereum, and trading, there's lots of great information and great tricks; and I’m going to bring him on and have a talk with him about why he chooses to trade as opposed to holding and the timeframes and kind of what that really means to him.

All right, so do me a favor, hit the like button down below, that's going to let YouTube know that Trade Or HODL is a useful video full of good information, and then tap on that subscribe one, that way you'll know when the next ones come out, I do have another one about some special trading software that this guy uses that I’m going to be releasing soon too. So stick around, subscribe, and get all the good info coming out of the channel. All right guys, let's start.

Warning. I am not a financial advisor and this is not investment advice. Seek a professional.

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Advice on Trade Or HODL

David: All right, aloha guys, welcome. I’m David here with Crypto Tutorials. I've got one of my fellow LADZ City lads here. If you don't know LADZ City, it's the city of NFTs, and I’ve got Fun Uncle here with me. Check my LADZ City Interview with him. He's an OG crypto trader, going to share some advice with us about Trade Or HODL. So you were talking a little bit about your strategy is not as much a holder as a trader, and kind of give me a little rundown of how you ended up deciding that that was the way you were going to make money in crypto, and kind of what that means to you.

Richard: That's mostly due to the war scars I have from 2017. I know how quickly this can fall on it, well, and that's why all of us, old timers, I guess, as you can call me, it hasn't been around for long enough...

David: Four years of crypto counts, yeah.

Richard: Kind of I'm a senior citizen in the crypto world, yeah, in dog years, right, or whatever, crypto years are 10 years each. But this is the daily cost averaging strategy that we always stress, the senior citizens always stress this, because there's no way for you to lose it all if you daily cost average. At the same time, you can make up for those losses or catch up for missed gains, let's say, instead of fomoing, when you see it starting to go parabolic, realize that this is a patience game, there will be a better buying opportunity next week or next month.

More information crypto trading

David: All right. So I’d love to find out a little more about crypto trading, it's something that, personally, I haven't had a whole lot of success with or done very well with. Can you kind of give me a little bit of a background on sort of how you decided and focused on trading and learned to trade, and how this became a skill that you can successfully do, because whenever I try to trade?

Richard: To compare it to the stock market, stock markets are, you know, you can be pretty sure that the money you put in the stock market this year, it will be more next year. But I can't tell you with any degree of certainty that Bitcoin will be higher than it currently is this time next year or lower than it currently is this time next year, like, let's fast forward to September 2022, it could be lower than it currently is right now, and that's just, it's still young, it's still very volatile, and there's still a lot of very vicious people in the market that will win from dumping the price. And so, that's just taught me to stay light on my feet, and make sure to lock in my gains. 

Bitcoin is not a purchase that you can turn your back on, and, I mean, sure if you do in five or 10-year scales, yeah, it will be higher than it is – five years from this September, it will be higher, but two years from this September. I can't necessarily say that to you whether to trade or hodl. And so, that's why I stay light on my feet, and I keep it more of a trading than a hodling mentality overall. An analogy I use all the time with cryptocurrencies is there's an app called MySpace, and that was all the rage, and all of us kids were jumping on MySpace, and then Facebook came along and nuked MySpace, everyone scorched earth on MySpace, we all jumped over to Facebook.

Evolution of Social Media

So, you look at the two of them, and you're like, okay, is Bitcoin, MySpace, and is Ethereum, Facebook. Now, I’m taking it one step further, that's how I used to think, now the new mentality is that, and I’m going to date myself even further with this statement. before MySpace, there was an app called Xanga, and that was all the rage, no one knew about Xanga because MySpace really eclipsed it when it showed up, but Xanga was the first kind of social media Web 2.0 app that you could make a profile on. And then, MySpace came out, corrected all the flaws was Xanga, nuked it, and then, Facebook corrected all the flaws with MySpace and nuked that.

And so, now I'm this one step further, I’m like, is Bitcoin, Xanga? Ethereum is MySpace, and Facebook is not even invented yet, because we're so young in the market, we have institutions still trying to crush out cryptocurrencies as a whole, banks, institutions, and governments are trying to crush it out. And as soon as they can view cryptocurrency with the same kind eyes as they would a Facebook or a MySpace, then we'll finally allow for that coin to exist. And whenever I see stuff like Hedera Hashgraph or Polygon, Solana, these other coins that learn from the design, have perfected on it, are better, stronger, faster, and more decentralized – can you say that – less centralized I think is the right way to say it.

David: Yeah.

Richard: You get what I'm saying. So that's why I stay at my feet because the real winner has not been picked yet, the biggest bloodiest battle is yet to come. There will be an 80% drop at some point.

David: Yeah, for some of the tokens are going to fall to the side, everybody can't survive. It doesn't, you know, I agree, it's Google and Yahoo, and you're not going to have 10 best, the best one is going to be the one that everybody ends up adopting, and accepting as the future, it makes sense. So you and I have both talked about this long-term bull rally that we see going on right now, but what do you think when you see the dips and the drops, and the things that have been going on this year, what does that make you think about that?

What is the right time to buy Bitcoin?

Richard: It's breathing, it needs to exhale in order to take another deep breath in and go to new all-time highs, which the momentum we have, is undeniable in the way that the institutions are buying right now. And then, even if we don't get any new people buying Bitcoin, like, if we're unable to penetrate any new buyers, there's still the preexisting buyers who are daily cost averaging with every new paycheck. So we will just continue to get the steady stream, everyone gets Christmas bonuses at the end of the year – between Thanksgiving and Christmas, people are blowing those Christmas bonuses on Bitcoin and Ethereum, and whatever they get their hands on. So that's what I'd say, just like, this is a slow time of year, September is kind of a bummer for the stock markets, in general, and just hold.

David: Yeah. So then, as you talked about Hedera, and particularly, I know you like this one a lot, how do you vet a project when you want to – you want to trade in and out of, and you want to make this, I mean, obviously, everything is going up and down, but you want to pick things that are probably going up more than they are down, but how do you go about vetting projects?

Richard: In short, I think it's where there's smoke, there's fire, and that goes both ways.

I just generally will triangulation is another way. sure, this guy is saying it, but no one else is saying it, so that's a bad choice. But if I hear two or three different people saying the same thing, who are agnostic of each other, who are like this guy doesn't necessarily know about what this guy is thinking or doing, but they're all kind of saying generally the same thing, like, I'm hearing about Hedera Hashgraph, where there are people who are huge crypto enthusiasts; then there's another guy I listen to, his name is the CryptoWeatherMan, where he is a stock trader, he is a full-time economist, and he is just this year getting introduced to cryptocurrencies, and he's like, I’m a successful stock trader, I’m not going to start my hand at trading cryptocurrencies for the first time this year.

What is Hedera Hashgraph

And it's cool to watch him enter it, but at the same time, whenever he says something, I’m like, wow, how do you know about Hedera Hashgraph, and you're not that big in cryptocurrencies, it's because he's a really smart guy who did the research. So, I'm kind of standing on the shoulders of giants a little bit, where I'm doing my own research, but at the same time being humbled in that I know there are smarter people than me that I should be weighing my opinions with the weight of their opinions. And there were a lot of times where I was bullish, and people were telling me I should be bearish, I should have been more, like, open to what they were saying. If I have 10 people saying it's bearish, and five people saying it's bullish, well, it's bearish. Just a rule of statistics.

David: Yeah, if you have a good sample of intelligent people, you can pull from that, so that's a great way to decide trade or hodl

Richard: And I'm quite literally, I want to show people this, that I now, I think I'm just an old pen and paper guy, but I'm literally putting tallies down, and this has been easier than me for the Excel spreadsheet because I always have this with me. And so, whenever I see an Instagram post or a TikTok or a YouTube video, or even a conversation, you notice how you said a coin earlier.

David: Yeah.

Richard: And then, I will now go on to see if anyone else minces that. But that's how it goes.

People's opinions matters on Trade or HODL

David: Cool, yeah. So you look at a lot of other people's opinions on Trade Or HODL, that's a smart way to do it. Well, what kind of timeframes do you normally trade in and out of then when you're purchasing, you know, what length do you look for, generally, for a place to hold, make some money, and get out of a coin?

Richard: All over the map, dude. I literally just sold some Hedera Hashgraph at 52 cents, and that was last night. And I was just like, cool, I put some Hedera Hashgraph on the side, and look at some other coins that are down right now, because I look at Hedera Hashgraph as kind of doing a local top at the moment, and I’m like, okay, that's his local top, it needs to settle a little bit, and that's going to take a couple of weeks, but then within a day, while I was at work today, it dropped 17%, and now, I’m just like, maybe I could make an extra $1000 just stepping back into that position. And then, I’ve got, for example, some of my Ethereum, I’m like, oh yeah, no, that's going to stay where it is in staking until the end of this bull.

So there's a spectrum of these things, I think it boils down to track record more of this, what other people are telling me kind of thing about Trade Or HODL. For example, I did a Doge trade, it was like within the day. Actually, I don't trust that...

David: I can see that, it's a coin that I don't trust either, I'm like, I don't trust this coin at all.

Richard: How do I turn my back on it...

Richard: So that's where that all comes from, and I think the real mindset you got to have when you're trading is, you're not trying to time the market, you're just trying to make money. Whenever you're focused on just trying to make money, you will time the market, because the market is going to dump at some point and you want to be a guy who has taken profits, has got cash on hand to buy dips, and is also light on your feet when it comes to a coin that's got not enough legitimacy to it yet. If I hadn't gone into the office today, which is so rare after – I had to actually physically go into the office today, I was going to do a Shiba trade today.

And because I had heard so many people talk about how volatile it's going to be, because it just launched on Coinbase. I think it just went live at 9:00 a.m. today on Coinbase, and I’d heard so many people on TikTok, and so many people on Instagram saying, this is it, a tsunami of money's coming into Shiba. And I was like, even if it's not true, there are enough people on social media shilling it, that at least a little money was going to show up.

David: Yeah, it's going to at least take a bump somewhere.

Ups and Downs in Trading

Richard: Right. And it actually jumped way higher than I thought, it's up like 20% on the day. And if I had the availability, and if I wasn't in the office and meetings all day, I would have done a quick five, maybe 10% trade if I was really lucky. But that's what the whole goal is, so a coin that does a 20% rally, you need to be focused on getting a 5% gain out of that. Don't time the market, don't be worried about buying the bottom, don't buy until you see the momentum taking place, and then get out before the pants fall off on that trade.

David: Yeah, makes a lot of sense. For somebody who's learning to trade, because, obviously, you're talking, you know, I see when you talk about technical indicators when it's a double bottom, and whether it was a false one, and when it was a – where did you sort of learning these, and how does one go about what's the best ways to learn these sorts of tendencies – because when you're getting in and out of short term things, that's not what it's all, I mean, I don't know, I got a little bit lucky, I guess, but that's what I was able to read, I thought out of the last big multiple crashes, I kept seeing that 29-28 seemed to be that so I kept watching to buy down there, thankfully, it didn't go any lower – but how do you learn to read these technical indicators?

Richard: YouTube I think is the biggest help over the years. I want to say that a fair amount of it's my own experience too. But it goes back to this whole triangulation too, where I see enough people saying like Fibonacci retracements, that's what you need to look into, where I saw enough people say look into – Fibonacci I think is the way to pronounce it.

David: Yeah, Fibonacci yeah.

Richard: I got to look into Fibonacci to figure out what that's all about. And so, it was through YouTube, like, what jargon is being used the most across the most YouTubers, that's the word of the terminology I should be looking into. And thankfully so, because then I discovered something like the Wyckoff...

David: I was just about to say that's the one that I heard this last dip, everybody was talking Wyckoff, Wyckoff, and that was the same thing, it was like, hmm, what is this.

Richard: Right. And that's where I use, and I base solely my purchases on that, because I was with you whenever I saw it dumping, and I had done the freaking margin trade too that liquidated me and dumping even further, and I was just like, oh, this is it, bull run's over. And then, most of that was me being so beat-up after getting liquidated, that I was just like, fucking, it's all over, it's all lost. With all that Wyckoff accumulation, I was just like, ah, that does match up really nicely. And so, that was a change of my mind, and I made a big buy, and now I’m not as bummed out.

David: Yeah, I definitely thought the bottom was going to stay longer than it did this last one, I was very surprised with how quickly everything rebounded from it. I thought we were going to be sitting through the summer, at kind of some flat-low times, but I actually kind of think the NFT side of things helped drive the rebound off it.

Richard: Yeah.

David: It never stopped flaming, and so, I think it really pulled a lot of the other stuff out quickly.

All right guys. I hope you enjoyed that chance to learn about Trade Or HODL from a wonderful OG crypto trader, someone with a lot of knowledge to share with us. If you did, do me a favor and hit that like. Like I said, if you have a question on Trade Or HODL , I can always reach out to Fun Uncle, and help get answers too. So by all means leave questions in the comments down below. Do subscribe if you want to catch the last piece of this interview, it's really interesting, this is where we talk about a piece of software called the 3Commas bot review, and Fun Uncle tells some interesting stories about it literally nuking trades that he put in and how right this bot was and how it was able to know that this was a bad time to buy a particular currency. 

So really interesting one. All right? We're going to bring that up here in just a second, but thank you again, guys, have a wonderful day with much Aloha.