Trading is a game against yourself – @Cryptoeazy

In this edition of The Trader’s Perspective we interviewed ₿-Eazy. He is a full time Crypto trader and the creator of taughtu. You can follow him on twitter and telegram. He shares his trading insights with us on how to be profitable in this exclusive interview.

It’s a pleasure to be interviewing you! We would like to know when did you actually start trading and why crypto specifically?

Thank you for having me! Around 2014 was when I was introduced to trading through my curiosity in wanting to make more money. Like a lot of you I’m sure, I started by hearing about penny stocks and how all those guys were making a ton of money. I watched a bunch of youtube videos and learned some basics.

At that time I was still in college, so it wasn’t until a couple years later that I became more serious about it. In 2017 I heard everyone talk about Bitcoin. At work I would check the price every day and see it always going up. That’s when I finally bought my first crypto.

Please do tell us more about your telegram channel – The VIP Room and also about Taughtu!

I get a lot of the same questions so I created my Telegram to help people out and teach a bit about how I trade. This allows me to go into a lot more depth than the character limit on my tweets. I’ve been quite busy lately so haven’t had a chance to update much but I plan to get back around to it.

Taughtu.com is a website I created to help beginners learn to trade. It was an idea I had last year to make things simple. I felt not very many people were doing what I had in mind, so I spent 2 months researching and learning how to build a website, write articles, etc. I’ve posted a bunch of interviews and articles with some of the top traders in crypto twitter. Check it out!

What’s your single largest gain in one trade? And if you don’t mind sharing, the most drawdown in a trade?

I’ve had a 6 figure trade before but lost most of it right after. It was rough but I learned a lot from it and it’s helped my trading going forward.

Emotions is the number one thing you have to master if you’re going to start taking trading serious. I let greed take control in that situation. The best thing to do after a big winning trade is to just take a break. Don’t let yourself get sloppy. Overconfidence leads to over trading, which leads to unnecessary losses.

How is crypto futures trading now compared to the time when you started?

To be honest, I’ve only started trading futures when I came into crypto in 2017 so not much has changed. I would like to see an exchange introduce lower fees.

For a newcomer, what according to you should be trained first – mindset or technical skills?

Tough question. You can have the best mindset in the world, but if you don’t know what you’re looking at, you’re just going to keep losing. But also on the flip side of that, you could have the best strategy but if you keep doubting yourself and too emotional to make decisions, you’ll still lose.

You need both. If mindset and technical skills are both average, then I would definitely say mindset is more beneficial to be trained higher. The market doesn’t care, trading is a game against yourself.

Which TA tools and indicators do you recommend to someone who is just starting out with trading?

For someone just starting out, I would recommend just learning basic support / resistance levels. Indicators are the first thing new traders run to because they think it’s going to tell them everything. Indicators should only be used as a supplement AFTER you determine your bias.

Do you use moving averages to identify stop loss (SL) levels? If not, how do you determine your stop loss?

It’s important to figure out who you are as a person and your emotions to determine your trading strategy. Me for example, I am not very patient and I am better at quick in and out trades. So I like to enter as close to my invalidation level as possible. So my trading strategy is to wait until I see other people get stopped out in an area of interest, then I’ll jump in.
As the trade starts to go my way and form LTF support on the way up, I will move my stop to reduce some risk if needed.

What is your preferred Risk:Reward (R:R) ratio?

Like I said, I try to enter as close as possible to invalidation so it varies. If I think the setup is good and will reach my target before invalidation, I’ll go for it. If my levels of interest to take profit aren’t at least 1:1 obviously then I’ll sit it out. 

Do you have any tips for newcomers to calculate entry size with prefered SL level?

Size should be based on how far away your stop is. Before every trade tell yourself, “if I get stopped out, I’m okay with losing X dollars” then go from there.

BBOD uses stablecoins as a collateral for futures trading. What is your opinion on stablecoins used for trading crypto derivatives?

I’ve never tried it so I can’t speak much on it, but I think it would be great during a bear market reducing your exposure. Because if Bitcoin is going down, you want to be holding USD.

Thank you for your time! We wish you great success trading cryptocurrencies!

Thank you very much and you as well. If anyone ever has any questions feel free to shoot me a DM on Twitter, they are always open 🙂


Feel free to share your comments or questions in our Community on Telegram!

BBOD : 🌏One World, One Exchange 📊

BBOD is a cryptocurrency derivatives trading platform for retail and institutional clients. It offers a secure and transparent custody system and marketplace to trade Bitcoin and Altcoins futures contracts with a stablecoin collateral. The “transparent custody” feature means that BBOD does not hold either the clients’ digital assets or their private keys. Instead, a client has their own contract account on the Ethereum blockchain.

Green Trading for the Environment

We have all heard about the disastrous bushfires burning across Australia, killing innocent animals and leaving so many people without a roof over their heads. But a lot of us do not know how it all started, what the terrible side effects are and how we, as crypto traders, can help through Green Trading.

How it all started?

Every year Australia goes through a fire season in their summer. This is due to extremely hot and dry weather, where in some areas temperatures may reach as high as 40ºC. However, this time the fires already started in July 2019 – way before the feared fire season. Since then, 7.3 million hectares have been burned all across the country, leaving 27 people dead and an estimated amount of 1 billion animals nationwide affected by the disaster. From this, one third of New South Wales’ koalas (Australia’s worst affected region) did not survive the fires.

The consequences are tremendous for our whole planet. Since this year’s fires in Australia are way more intense than they ever have been before, entire species might become extinct. This is a huge concern, as these types of changes affect the whole ecosystem. 

The smoke from the fires also continues to worsen the air quality, as well as visibility across all of Australia. These consequences have also been noted in New Zealand and South America.

Furthermore, due to the fact that these fires are so strong and so hot (some fires even reached temperatures as high as 1,000ºC!) they are starting to create their own climate. This means that because of their effect on the atmosphere they also affect the weather. This might bring more lightning, also meaning more fires. 

Only in New South Wales 2,000 firefighters are working on extinguishing the fires, whilst the United States, Canada and New Zealand sent their fighters to Australia for help. 3 billion Australian dollars have already been collected to rebuild schools, hospitals, etc.

How can Green Trading help?

At BBOD we care about the environment. We are aware what terrible consequences may occur if humanity does not change its approach to nature. Let’s not forget about one of man’s most vital needs to survive – oxygen; produced by trees. Lately they have not been treated with care, and so disappear from the surface of earth, because of deforestation and fires like the ones in Australia.

We want to overcome this battle, and so BBOD created a unique project called Conscious Contribution. Our traders take part in Green Trading, and therefore, aid our planet Earth, solely by using our trading platform. 

BBOD will donate 15% of its trading fees to selected foundations, one of which could be to replant the burned forests, as well as helping the koalas, kangaroos and people of Australia affected by these disastrous fires. It is as simple as that. 

Join us in this battle and “Plant the trees with the fees!”.

Zero Fee Trading: Examples & Working

Let’s go deeper on the working of Zero Fee Trading: the trading experience on both BTC / TUSD contract and BTC Zero / TUSD contract is the same. Except on the BTC Zero / TUSD contract, you do not have to pay any fees whatsoever! 

To trade on the Leveraged Zero Fee contracts, one must have BBD tokens in their wallet. BBD tokens are used as collateral for trading. 

Trading on Standard BTC Zero / TUSD Contract (ZERO Fees)

Let us consider an example of zero fees trading here : –

Emma does not have any BBD tokens but wants to avail zero fee trading. Although, she has 1000 TUSD in her wallet. She decides to buy 1000 BBD tokens at 1TUSD per BBD. Emma spends 1000 TUSD to buy 1000 BBD tokens in the BBD / TUSD spot market.

She proceeds to the BTC / TUSD Zero contract where the index is marked at 7000. This means, to buy 1 BTC / TUSD Zero contract, she needs to spend 7000 BBD tokens.

(Note – BBOD offers upto 50x leverage but leverage is not used in this example for simplicity.)

However, as she does not have sufficient BBD tokens, she cannot buy 1 BTC Zero / TUSD contract. She buys 0.143 BTC / TUSD Zero contracts instead. This is worth 1000 BBD. (Calculated as 1000 / 7000) .

Her current balance = 1000 BBD ~~ 1000 TUSD

Bitcoin gains 10% after some time. The price of BTC / TUSD Zero contract is 7700 now.

Her position is now at a 10% profit. This can be calculated as 

Position size * (Exit Price – Entry Price) = 

0.143 * (7700 – 7000) = 100 BBD tokens

Her balance after profit = 1000 BBD + 100 BBD profit ~~ 1100TUSD 

Fees paid = 0
Total Profit = 100 TUSD

Trading on Standard BTC / TUSD Contract (Standard Fees)

Let us consider an example of standard fee trading here : –

Emma has 1000 TUSD in her wallet. She proceeds to the BTC / TUSD contract where the index is marked at 7000. This means, to buy 1 BTC / TUSD contract, she needs to spend 7000 TUSD. 

(Note – BBOD offers upto 50x leverage but leverage is not used in this example for simplicity.)

However, as she does not have sufficient TUSD, she cannot buy 1 BTC / TUSD contract. She buys 0.143 BTC / TUSD contracts instead. This is worth 1000 TUSD. (Calculated as 1000 / 7000)

Her current balance = 1000 TUSD

Bitcoin gains 10% after some time. The price of BTC / TUSD contract is 7700 now.

Her position is now at a 10% profit. This can be calculated as 

Position size * (Exit Price – Entry Price) = 

0.143 * (7700 – 7000) = 100 TUSD

Her balance after profit = 1000 TUSD + 100 TUSD profit ~~ 1100TUSD

Assuming Emma placed a market order in all of these scenarios, we can calculate the fees as follows.

Fees = 0.075% * 1000 + 0.075% * 1100

Fees = 1.575 TUSD

Total profit = 100 TUSD – 1.575 TUSD

Total profit = 98.425 TUSD

Trading on Leveraged BTC / TUSD Zero Contract (ZERO Fees)

Let us consider an example of leveraged zero fees trading here : –

Emma does not have any BBD tokens but wants to avail zero fee trading. Although, she has 1000 TUSD in her wallet. She decides to buy 1000 BBD tokens at 1TUSD per BBD. Emma spends 1000 TUSD to buy 1000 BBD tokens in the BBD / TUSD spot market.

She proceeds to the BTC Zero / TUSD contract where the index is marked at 7000. This means, to buy 1 BTC / TUSD Zero contract, she needs to spend 7000 BBD tokens.

However, as BBOD offers upto 50x leverage on contracts, she only has to spend 7000 / 50 = 140 BBD tokens to open a 1 BTC / TUSD Zero contract

Her current balance = 1000 BBD ~~ 1000 TUSD

Bitcoin gains 10% after some time. The price of BTC Zero / TUSD contract is 7700 now.

Her position is now at a 10% profit. This can be calculated as 

Position size * (Exit Price – Entry Price) = 

1 * (7700 – 7000) = 700 BBD tokens

Her balance after profit = 1000 BBD + 700 BBD profit ~~ 1700TUSD 

Fees paid = 0
Total Profit = 700 TUSD

Trading on Leveraged BTC / TUSD Contract (Standard Fees)

Let us consider an example of standard fee trading here : –

Emma has 1000 TUSD in her wallet. She proceeds to the BTC / TUSD contract where the index is marked at 7000. This means, to buy 1 BTC / TUSD contract, she needs to spend 7000 TUSD. 

However, as BBOD offers upto 50x leverage on contracts, she only has to spend 7000 / 50 = 140 TUSD to open a 1 BTC / TUSD contract.

Her current balance = 1000 TUSD

Bitcoin gains 10% after some time. The price of BTC / TUSD contract is 7700 now.

Her position is now at a 10% profit. This can be calculated as 

Position size * (Exit Price – Entry Price) = 

1 * (7700 – 7000) = 700 TUSD

Her balance after profit = 1000 TUSD + 700 TUSD profit ~~ 1700TUSD

Assuming Emma placed a market order in all of these scenarios, we can calculate the fees as follows.

Fees = 0.075% * 7000 + 0.075% * 7700

Fees = 11.025 TUSD

Total profit = 700 TUSD – 11.025 TUSD

Total profit = 688.975 TUSD

Comparison

Comparing both scenarios, you may realise that zero fee trading is much better than its standard fee trading counterpart. 

Standard Fee TradingZero Fee Trading
Contract Name – BTC / TUSDContract Name – BTC Zero / TUSD 
Index Price – 7100Index Price ~ 7100
Collateral is TUSDCollateral is BBD
1 BTC / TUSD contract  = 7000 TUSD1 BTC Zero / TUSD contract  = 7000 BBD 
Upto 50x LeverageUpto 50x Leverage
Maintenance Margin, Initial Margin in TUSDMaintenance Margin, Initial Margin in BBD
Fees = 0.075% Taker; -0.025% MakerFees = 0

You can find the links for the zero fee contracts along with the BBD spot market below!

BTC/TUSD Zero Fee Contract (leverage upto 50x) – https://bbod.io/platform/symbol/CFX/BBD/BTC

ETH/TUSD Zero Fee Contract (leverage upto 50x) – https://bbod.io/platform/symbol/CFX/BBD/ETH

BBD/TUSD Spot Market – https://bbod.io/platform/symbol/SPOT/TUSD/BBD

We think leveraged Zero fee trading is a pretty cool use case of BBD tokens. We would love to know your thoughts! Hit us up on our telegram group – https://t.me/BBODCommunity. Looking forward to hear feedback and criticisms alike!

Risk management and Market Psychology.

In this edition of The Trader’s Perspective we interviewed Weslad, a professional forex and cryptocurrency trader and the founder of WCSE R&A.

Full interview with Weslad

BBOD: Please introduce yourself and your background in trading. 

W: My name is weslad, top trader in tradingview with over 6,700 followers, founder of WCSE R&Analysis Telegram group with over 13,000 followers, a professional forex and cryptocurrency trader with over 15 years trading experience, owner of pipsflush trading strategy, well known forex and cryptocurrency tutor and also a financial investment manager. 

BBOD: What is your main trading strategy and what kind of trading tools do you use to analyze the market?

W: Talking in terms of trading strategy, I will say so far, ELLIOT WAVE has been my best trading strategy and I use this mainly in accompany with PRICE ACTION analysis. So, the best tool for market analysis remain Relative Strength Index(RSI). This is used to determine market momentum situation. 

BBOD: What are the most common mistakes traders make and how to avoid them? 

W: The most common mistake is failure to follow designed trading plans or not even have any trading plans. The best way to avoid this is to remain disciplined and see trading as a business that needs consistency, rather than aiming to hit it big in just a trade like hyip program. 

BBOD: Please tell us more about WCSE R&Analysis and how a newbie can benefit from your WCSE R&Analysis? 

W: Firstly, let’s talk about what WCSE R&A stands for: Weslad Cryptocurrency Secret Exposed Research and Analysis. 

From the above meaning the group itself stands for research and analysis zone, where many top traders joined together and give out their trading ideas, and these ideas are usually well spelled out with typical tradingview access links for better understanding. We believe in teamwork, for maximum trading success! In WCSE R&A, many newbies have become better traders, where they trade independently based on the knowledge obtained from the group. Many intermediate traders are joined the group in order to become better and fully independent in trading decision making. 

BBOD: What is the riskiest trade you ever made? What was the outcome? 

W: Oh, interesting! The riskiest trade I took was also the most difficult trade I ever took as a trader, and this happened in 2009 with GBPJPY, when I went in with an aggressive lot size. Which at the end paid off with a huge profit. But the trade really drained off my patience as my stop loss was missed with just 1 pip before it ran into massive profit with over 250pips. This is really crazy. 

BBOD: What qualities make a trader successful? 

W: The best quality to be a successful trader is the ability to have self discipline, which is a key trait every trader needs and together with the patience to follow a designed plan to success. 

BBOD: Which crypto exchanges do you use and why? 

W: Presently, I trade with Bittrex, Binance and Bitmex. I choose them due to their platform simplicity and user friendliness. 

BBOD: How do you define risk when entering a trade? 

W: Risk is determined using a stop loss order based on self designed analysis or a trading plan, where the risk is the price difference between the entry point of the trade and the stop loss order. Risk mitigation is a must know to all traders that aim for successful outing on their trading. 

BBOD: How important are emotions in trading? 

W: The psychological aspect of trading is extremely important, because a trader tends to see different things as a trade develops. Ignoring the psychology of trading will almost guarantee a trader failure. At the same time this also encompass discipline to follow all the set rules without giving in to emotions. 

BBOD: How important is volume and liquidity in crypto exchanges? 

W: Trading volume is important in identifying healthy investments because it shows the amount of activity that is surrounding a coin or a token. This metric will allow traders to see how popular an asset is and how frequently it is changing hands. Moreover, talking about liquidity, it is the degree to which a particular asset can be quickly bought or sold without affecting the general stability of its price. It also represents one of the most important concepts, apart from market capitalization which everyone needs to understand when trading or investing in cryptocurrencies or any financial market. 

BBOD: How does one learn to accept losses? 

W: Losing is a part of trading, even the best traders in the world have losing trades, it’s just that our brains hate to lose. As a trader, we need to always be in control of our emotions, this comprises of; ‘how you react when you lose?’ ‘how you feel?’ ‘what comes to your mind?’ 

If you feel very bad, angry or sad, that simply means you were risking too much, or taking a trade outside your plans. 

BBOD: How does a trader not allow their greed to influence their position size? 

W: Fear and greed are two drivers that influence our everyday lives; it can be rather damaging if not managed properly. Fear is often observed as the reluctance to enter a trade or the closing of a winning trade prematurely. Greed on the other hand manifests when traders add more capital to winning trades or over-leveraging with the aim of making a profit from small moves in the market. The best way of controlling this, is by looking at the big picture of the market and follow already established plans rather than gambling on a trade. 

BBOD: Is it important to keep a diary of your trades? 

W: Keeping a detailed diary always helps traders to learn more from previous trades, and keeping goals in the forefront of their minds and also help to tweak and perfect trading strategy. More importantly a trading journal goes a long way in helping traders to grow in becoming better in what we do because a trading journal is a critical component for our overall trading plan and future success. 

BBOD: How do professional traders quantify risk (how much can I lose) 

W: Hmm, risk in trading is a must for all traders, the key to becoming successful as a trader is to find the right balance between how much you risk per trade to achieve the desired profit you are aiming for, this balance needs to be realistic and relevant to the set trading plans. But in the case of professional traders they tend to use risk to reward ratio a bit differently than some newbie traders. First, professional traders generally do not always stick to any predetermined risk to reward ratio, which many popular trading books advocate. These traders have taken the time to thoroughly backtest their preferred trading instruments to find out the historical win rate of their strategy based on various risk to reward ratios. Instead of fixating on a random risk to reward ratio like 1:2 or 1:3, experienced traders tend to use extensive data analysis to define what risk to reward ratio is suitable for a given trading strategy. 

BBOD: Do you average losing trades? 

W: This aspect of trading is very important because averaging down a losing trade usually means lifting of stop loss or not even have any, whereas this heavily increases the risk of open position and normally leads to bigger disaster. Although trader may be lucky but I will say may be 1 out of every 5times. Losing is part of successful trading. Majority of traders seems to have this attitude of always winning and never losing. Successful trading is a game of probabilities and statistics. Understanding the simple math behind it is a necessity. Trying to correct a losing trade by doubling down with a lower entry price is another popular mistake that majority of trader made on a daily basis and this always end up with margin call. Too much of self belief in the original trade idea, stubbornness, or the need to avenge initial losses always result into lack discipline. 

BBOD: How does a trader find their edge in the market? 

W: The popular belief is that an edge is something that a trader knows or uses, that gives them an advantage over the market, or over all of the other traders. This is also the same thing with a certain approach, observation or special technique that is in theory. A trader must understand that his edge may not work 100 percent of the time and that he could easily make a large sum of money using his edge, and then enter a season where his edge no longer works. 

The truth is that there are traders who believe that they have an edge, and there are traders who believe that they need an edge and are consequently looking for one, and there are traders who laugh every time someone mentions an edge, while they go and make another profitable trade. In other words, there may be no such thing as an edge, not over the market, and not over other traders, unless you consider having received good trading instruction as an edge. My candid advice goes to all the new traders that aim in looking for market edge to stop wasting their time because the search for a trading edge is as futile as the search for the holy grail of trading.

BBOD: Thank you very much for participating on this edition of “The Trader’s Perspective”, it was our pleasure to have you here.


Feel free to share your comments or questions in our Community on Telegram!

BBOD : 🌏One World, One Exchange 📊

BBOD is a cryptocurrency derivatives trading platform for retail and institutional clients. It offers a secure and transparent custody system and marketplace to trade Bitcoin and Altcoins futures contracts with a stablecoin collateral. The “transparent custody” feature means that BBOD does not hold either the clients’ digital assets or their private keys. Instead, a client has their own contract account on the Ethereum blockchain.

Verge Perpetual Futures Contracts launched.

HONG KONG, 23rd December 2019 – BBOD, a prospective leader in offering altcoin futures trading has launched the world’s first Verge currency (XVG) perpetual futures quoted and settled in TUSD. The new derivative contract is now trading at BBOD with up to 25x leverage.

Verge was founded in 2014 by Justin Sunerok. It was branded back then as DogeCoinDark. It is a proof-of-work cryptocurrency with the aim of being fast, secure and with the possibility to be untraceable. The privacy is secured by using layers of network protection between you and the blockchain. The Verge blockchain allows you to make payments via Tor network to protect your privacy.

BBOD’s Verge-TUSD perpetual futures contract will allow market participants to go long or short on cryptocurrency with leverage, empowering them to express sentiment and manage risk more effectively. The instrument has no expiration dates, unlike fixed-date futures. 

The contract is designed as a perfect tool for the Verge miners, who may now use the XVG futures to hedge their mining revenues amidst uncertainty around mining profitability.

Lohann Doucefrance, Marketing strategist at Verge currency, said:

“This is a great example of how Verge is proving itself to be one of the most disruptive and useful cryptocurrencies in the world”

Jacob Ruczynski, CEO at BBOD, said:

“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of Verge futures. Long-term investors may now effectively hedge value of their Verge coins ahead of high volatility events. They can sell Verge futures if they think that the price will temporarily go down without a need to sell the Verge coin on the cash market. Finally, we believe a well-functioning XVG-TUSD perpetual futures market will significantly increase the price transparency and provide valuable and inexpensive information for the Verge market participants”

This new futures contract expands BBOD’s derivatives offering which currently includes the following perpetual futures contracts: Bitcoin, Ethereum, Bitcoin Cash, Ripple, EOS, Litecoin, Binance, Monero, Stellar, IOTA, Cardano, NEO, Chainlink, Cosmos, Tezos, VeChain, Digibyte, Dash and Verge, all quoted and settled in TUSD.

BBOD is to become a leader in offering a wide range of altcoin perpetual futures and this launch is just the beginning as we will introduce new additions to the product offering in the future. BBOD is going to list +100 altcoin perpetual contracts by the end of 2020, to become the most diverse and secure crypto derivatives marketplace to trade altcoins with high leverage.

About BBOD

BBOD (Blockchain Board of Derivatives) is the world’s leading and most diverse cryptocurrency derivatives marketplace offering the widest range of crypto futures products for trading and risk management.

Incorporated in the Republic of Seychelles, BBOD’s team consists of 35 people, including 25 in-house software developers in London, UK and Poland and has sales & marketing teams in Hong Kong, Seoul, Sao Paulo and Barcelona. Our core team consists of technologists and traders with 10+ years experience each from companies like State Street, Deutsche Bank, Coinone and University College Dublin.

For more information, please visit https://bbod.io/

About Verge

Verge is a cryptocurrency designed for people and for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy.

For mor information please visit: https://vergecurrency.com/

Disclaimer:

Risk warning: Buying, selling, holding and partaking in futures trading of cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in significant loss. BBOD is not responsible for any loss that you may incur from price fluctuations when you buy, sell, hold and leverage cryptocurrencies.

Ontology Perpetual Futures Contract launched.

HONG KONG, 20th December 2019 – BBOD, a prospective leader in offering altcoin futures trading has launched Ontology Perpetual Futures quoted and settled in TUSD. The new derivative contract ONT/TUSD is now trading at BBOD with up to 25x leverage.

BBOD’s Ontology perpetual futures will empower market participants to express sentiment and manage risk more effectively. Traders and hedgers may speculate on ONT price movements in either direction allowing them to make profits as a market rises in price or you can also open a short position (selling) that will profit as the underlying cryptocurrency market decreases in price. The instrument has no expiration dates, unlike fixed maturity futures. 

Andy JI, Co-Founder at Ontology, said:

Ontology are proud to collaborate with BBOD to launch the Ontology perpetual futures on BBOD’s trading platform. We are especially happy to satisfy our community’s needs after many expressed their desire to see Ontology available. We hope this development will give more options to members of the community who have invested in our future.”

Jacob Ruczynski, CEO at BBOD, said:

“We are extremely happy to launch the Ontology perpetual futures. One of the most common requests we hear from our traders is they want to be able to trade more futures contracts on BBOD. Many customers and OTC desks are eager to see Ontology being launched as soon as possible. We believe our ONT-TUSD perpetual futures will increase price efficiency, transparency and liquidity in the Ontology underlying cash market. Finally the Ontology long term investors may effectively hedge their positions ahead of high volatility events. They do not need to sell the cryptocurrency but instead they can go short if they think that the price will temporarily go down without a need to sell Ontology coin.”

BBOD’s current derivatives offering includes: Bitcoin, Ethereum, Bitcoin Cash, Ripple, EOS, Litecoin, Dash, Binance, Monero, Stellar, IOTA, Cardano, NEO, Chainlink, Cosmos, Tezos, VeChain, and Digibyte, with Ontology being the newest addition.

About BBOD

BBOD (Blockchain Board of Derivatives) is the world’s leading and most diverse cryptocurrency derivatives marketplace offering the widest range of crypto futures products for trading and risk management.

Incorporated in the Republic of Seychelles, BBOD’s team consists of 35 people working in a decentralized manner, including 25 in-house software developers in the United Kingdom and Poland and research & marketing teams spread across various locations around the globe to better serve our clients. 

For more information, please visit https://bbod.io/

About Ontology

Ontology is a high-performance public blockchain and distributed collaboration platform. As the blockchain infrastructure with multi-chain and multi-system integration, Ontology provides multi-layer, sharding, and multi-VM public blockchain services, and is able to readily customize easy-to-use blockchains that protect privacy through component technology and achieves secure and efficient cross-chain communication using a set of protocols. 

As the infrastructure and connector for the Ontology trust ecosystem, it creates a collaboration platform combining multi-dimensional trust and integrated applications through DID (decentralized identity), decentralized data exchange, decentralized reputation, and many other components and protocols for trust collaboration. As a result, Ontology is able to provide effective collaboration between trust sources, secure connectivity of data sources, and other distributed applications, thus creating a systemized, procedurized, and integrated trust ecosystem. 

For further information, please refer to: https://ont.io/

Disclaimer: 

Risk warning: Buying, selling, holding and partaking in futures trading of cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in significant loss. BBOD is not responsible for any loss that you may incur from price fluctuations when you buy, sell, hold and leverage cryptocurrencies.

BBOD officially launches long-awaited highly leveraged Monero Perpetual Futures contract

HONG KONG, 25th November 2019 – BBOD, a global leader in offering altcoin perpetual futures contracts has launched Monero Perpetual Futures quoted and settled in TUSD. The new derivative contract is now trading at BBOD with up to 25x leverage.

What is Monero ?

Monero is a private decentralised digital currency, which started out in 2014 as a fork of Bytecoin – the first private cryptocurrency to be created. The Monero protocol obfuscates the 3 parts of any cryptocurrency transaction: the sender, the receiver, and amount sent. Transactions on the Monero blockchain are untraceable and unlinkable so no one can tell where they originated from and no one can not connect any two transactions together. Monero currency called XMR is mined through computers using a Proof-of-Work protocol. If you would like to find out more about Monero wallets please click here.

To get to know more about Monero please watch our interview with Diego Salazar aka Rehrar, a contributor in the Monero community.

Let’s talk about privacy at Monero: An interview with Diego Salazar aka Rehrar

BBOD’s Monero Perpetual Futures

Contract trading allows users to leverage their accounts with funds they do not actually possess. This can lead to far greater profits but also greatly amplify losses. BBOD’s XMR-TUSD perpetual futures will allow market participants to go long or short on cryptocurrency with leverage, empowering them to express sentiment and manage risk more effectively. The instrument has no expiration dates, unlike fixed maturity futures. 

The contract is designed as a perfect risk management tool for the Monero miners, as this group is capable of making a fairly accurate estimate of their income in Monero. If this is known, the dollar value of this future income can be fixed before mining is started; for this purpose, miners can use BBOD’s Monero Futures.

Jacob Ruczynski, CEO at BBOD, said: “BBOD is excited to offer the world’s first Monero perpetual futures contract with 25x leverage on our trading platform. There has been a strong client demand for this product. Long-term investors may now effectively hedge value of their Monero holdings ahead of high volatility events. They can sell Monero Futures if they think that the price of the underlying asset will temporarily go down without a need to sell the cryptocurrency on the cash market. Finally, we believe a well-functioning XMR-TUSD perpetual futures market will increase  the price transparency significantly and provide valuable and inexpensive information for the Verge market participants”.

This new futures contract expands BBOD’s derivatives offering which currently includes the following perpetual futures contracts: Bitcoin, Ethereum, Bitcoin Cash, Ripple, EOS, Litecoin, Binance, Monero, Stellar, IOTA, Cardano, NEO, Chainlink, Cosmos, Tezos, VeChain, Digibyte and Dash, all quoted and settled in TUSD.

BBOD is to become a leader in offering a wide range of altcoin perpetual futures and this launch is just the beginning as we will introduce new additions to the product offering in the future. BBOD is going to list +100 altcoin perpetual contracts by the end of 2020, to become the most diverse and secure crypto derivatives marketplace to trade altcoins with high leverage.

About BBOD
BBOD (Blockchain Board of Derivatives) is the world’s leading and most diverse cryptocurrency derivatives marketplace offering the widest range of futures contracts for trading and risk management for retail and institutional clients.

How collective psychology affects the markets

In the previous post, we saw the impact of individual psychology to an individual’s portfolio. Now, we will see the impact of mass psychology on the market.

Introduction

Mass psychology is as important as it sounds. It is what moves the market. The efficient market hypothesis is an example which shows the markets reflect the truth at any given point of time. However, the truth that they reflect are essentially the collective decision of every single trader & investor in the markets. If the majority of players in the market are bearish, the price will go down. Likewise, when the majority of players in the market are bullish, the price will go up.

Evaluating the psychology of crowds is key because that lets us determine the general direction of the markets. There are several emotions that are present in the market and your job as a trader is to gauge where these emotions are leaning. You can then take a position in the markets that could make you a profit.

Rise and Fall

A prominent example is the Tulip mania in the 17th century that saw extraordinarily overpriced tulips. The general sentiment was the prices would never fall and people kept on buying tulips at an ever growing premium. The prices eventually fell when the bubble burst. Too bad, you could not short future contracts of Tulips back then.

However, the current markets do help you in this matter. In the 2017-2018 Cyptocurrency bull run, a minority of the market were aware that the absurd price increase in Crypto was due to the psychology of the collective that believed the price of Bitcoin would never fall. However, the smart investors and traders were aware that a bull run is always followed by a bearish phase. This is true for all markets globally. 

It is impossible to catch the top, the markets are subjective and the smart investors wait for the right time. This is what you must do in such scenarios. Wait on the sidelines and take your positions with a defined risk – reward ratio.

Wisdom of the Crowds & Whales

A prominent driver in the psychology of the masses is being left out, or in crypto terms – FOMO. Fear of Missing out. The FOMO of the crowds sometimes outweigh the risks associated with such investments and trades.

In such scenarios, key opinion leaders globally also tend to drive the overall sentiment of the market. A scenario of this would be the controversial tweet by Elon Musk caused quite the problem. The SEC eventually fined him. You can find a lot of people on Crypto Twitter like John McAfee, Pomp to name a few that have strong views about the general direction of the market. The main price fluctuations in the crypto markets are mostly caused by whales & anonymous institutions that decide to buy/sell in huge quantities causing the market to trend in a direction for a specific timeframe.

How to win over the markets

The best way to determine mass psychology of the markets is to always trade with the trend. Trading against the trend is what institutional markets and whales can afford to do. 

Your analysis can depend on the countless technical analysis strategies that work while trading. A couple profitable strategies like trading with volume and Elliot Waves might help you have an edge over the market. 

Sign up now at https://bbod.io to access plethora of altcoin perpetual futures contracts. Trade with up 50x leverage to maximise your profits. But also take into account the Mass psychology of the markets before taking a trade!

BBOD rolls out its much-awaited DASH perpetual futures contract

FOR IMMEDIATE RELEASE

HONG KONG, 25th November 2019 – BBOD, the first Zero-Fee Futures Exchange has launched the world’s first Dash perpetual futures quoted and settled in TUSD. The new derivative contract is now trading at BBOD with up to 25x leverage.

Dash is a blockchain-based peer-to-peer digital currency that was forked out of Bitcoin, enabling anyone anywhere in the world to make quick, easy and cheap payments at any time without going through a central authority.

BBOD’s Dash-TUSD perpetual futures contract will allow market participants to go long or short on cryptocurrency with leverage, empowering them to express sentiment and manage risk more effectively. The instrument has no expiration dates, unlike fixed maturity futures.

The contract is designed as a perfect tool for the Dash miners, who may now use Dash futures to hedge their mining profits amidst the rising cost of mining the Dash coin.

Jacob Ruczynski, CEO at BBOD, said: “We are extremely happy to launch the world’s first  Dash perpetual futures contract. There has been a strong client demand for this product. Long-term investors may now  effectively hedge value of their Dash coins ahead of high volatility events. They can sell futures on Dash if they think that the price will temporarily go down without a need to sell the Dash coin on the cash market. Finally, we believe our Dash/TUSD perpetual futures will help increase the price transparency and efficiency of the underlying market because they lower the costs of purchasing an asset outright.”

This new futures contract expands BBOD’s derivatives offering which currently includes the following perpetual futures contracts: Bitcoin, Ethereum, Bitcoin Cash, Ripple, EOS, Litecoin, Binance, Monero, Stellar, IOTA, Cardano, NEO, Chainlink, Cosmos, Tezos, VeChain, Digibyte and Dash, all quoted and settled in TUSD.

BBOD is to become a leader in offering a wide range of altcoin perpetual futures and this launch is just the beginning as we will introduce new additions to the product offering in the future. BBOD is going to list +100 altcoin perpetual contracts by the end of 2020, to become the most diverse and secure crypto derivatives marketplace to trade altcoins with high leverage.

About BBOD

BBOD is a fully transparent, non-custodial cryptocurrency derivatives exchange with ultra fast trade matching engine for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and multiple Altcoin futures contracts with a stablecoin collateral. The non-custodial nature of the platform means that BBOD does not hold either the clients’ digital assets or their private keys. Instead, a client has their own contract account on the Ethereum blockchain. For more information, please visit https://bbod.io/

About Dash

Dash is a digital currency that enables anyone, anywhere in the world to make quick, easy and cheap payments at any time without going through a central authority. Based on a decentralized peer-to-peer network, and secured by strong cryptography, Dash offers a safe and user-friendly payment method without barriers. Dash is portable, inexpensive, divisible and fast digital cash for both the internet and everyday life.

The tech behind BBOD’s ultra-fast matching engine

Hey! My name is Hannah, I work in the PR and Marketing department here at BBOD. I am also the voice of the announcements on our Telegram group and regularly conduct interviews on our YouTube channel.

Today I am going to be sharing with you our day visiting the GMEX Group office in the UK’s capital city, London.

We are a client partner of GMEX Group as they have developed an ultra-fast, low latency matching engine exclusively for futures trading at BBOD. We believe at BBOD because of the importance of GMEX to our company, we want to make all of our clients more aware of this partnership through conducting two interviews.

One of our offices is located on the Cambridge Science Park in the UK so to begin the day we travelled into London to head to the GMEX office which is located in the historic place of The Royal Exchange.

royal-exchange-gmex
the-royal-exchange

First interview: Hirander Misra

Firstly, we filmed an interview with the CEO of GMEX Group, Hirander Misra. This is your opportunity to discover the background of GMEX and what their mission is as company. This interview provides an introduction to the company and it will be your chance to discover why they were the perfect choice for us, to develop and manage BBOD’s matching engine.

Second interview: Tony Harrop

The second interview is with Tony Harrop, the Co-Founder and Director of GMEX Technologies; here we delve more into the tech behind BBOD’s matching engine and why it could be the fastest in the industry.

Tony Harrop then gave us a tour of the building and told us about the history behind The Royal Exchange and the trading floor located within the building. It was very interesting and seemed like a wonderful place to work.

Tony-harrop-gmex-group-bbod
Tony explaining Hannah about the history of The Royal Exchange
tony-harrop-gmex-group-hannah-lee-bbod
Tony and Hannah at the GMEX office

Our partnership with GMEX

We are very proud to say that we are working with GMEX and that they have developed BBOD’s matching engine. A big thank you to Hirander, Tony and the GMEX team for allowing us to visit their office, create two interviews and for working with us on this, it was a pleasure!

Stay tuned!