Treat your trading like a business/ @Edwardpumps

In this edition of The Trader’s Perspective we interviewed Mr. Pumps. He is an experienced trader who first started trading in 1994. He shares with us his strategies on how one can consistently make money in the markets.

Full interview with Mr. Pumps

BBOD: When and how did you start trading? Do you only trade cryptocurrencies?

Mr. Pumps: My first stock was Tabcorp in 1994. I mainly trade bitcoin with margin until altseason kicks in. I traded oil for over 10 years as it is the market maker for all other charts.

BBOD: What was the riskiest trade you ever made? What was the result?

Mr. Pumps: I opened too many positions margin trading oil, I didn’t understand leverage and the result was liquidation. Something we all need at some stage, the earlier the better.

BBOD: What is your main trading strategy and what kind of trading tools do you use to analyze the market? Graphs or reasoned analysis – what is your preference and why?

Mr. Pumps: My trading strategy is based off time catalyst, trend lines, set counts, number sequence, candle weakness, trigger candles, gaps, gap arrays, volume & fibonacci.

BBOD: What qualities do you think make a successful professional trader?

Mr. Pumps: Anyone can acquire the skills if they treat their trading like a business. You must take profit regularly for cashflow. Discipline, planning & taking action on those plans + never viering from the plan.

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

Mr. Pumps: Going too hard too soon (all in on one trade) – split your stack. Not testing strategies before applying them with capital. Buying the news (we usually sell the news & buy the rumour) if trading fundamentals however the chart already shows the fundamentals ahead of the news. A novice should look at buying based charts with increasing volume, this is the safest way to trade.

BBOD: What kind of trade rules or principles would you recommend to our readers to follow?

Mr. Pumps:

  • Learn from someone you like & trust.
  • Don’t try to learn everything about trading, find a few simple strategies & apply them.
  • Never accept more than 1% loss, if you are wrong exit the trade immediately!
  • Don’t rush, the market pays somebody everyday.
  • No need for FOMO, their is always another pump.

BBOD: What are the top three items a trading platform should have?

Mr. Pumps: Chart tools, Stop loss (which is kinda new to crypto), volume scanner.

BBOD: What would you like to know before you started trading?

Mr. Pumps: To exit a loser immediately, you cannot get too hurt if you apply this simple tactic.

BBOD: How can a trader prevent his greed from influencing the size of his position?

Mr. Pumps: That’s easy, always use the same amount of capital per trade (eg: If you have $50,000 to trade with, split that into $5000 trades). Regardless if I am trading ETH or BTC I will always use the same capital per trade not giving any single trade priority based of coin type or chart set up.
After I have tracked my average win/loss ratio (if I have won more than 80% of my trades I increment my trading amount up 10% -eg to $5500) If I haven’t performed well I will reduce my trading amount by 10%.

BBOD: BBOD has launched its stable version. Have you had a chance to take a look? Got any feedback?

Mr. Pumps: I have asked a few of my researchers to check it out.

BBOD: Please tell us more about your educational service and how can a novice trader benefit from your educational service?

Mr. Pumps: I train traders my style of trading to find specific chart set-ups and we post these charts that fit my criteria in our Discord & Twitter groups. Traders can select which chart they think is ready to be traded. We mainly trade the alts that are on Bitmex as we can short these.
I also summarise the market sentiment in order to determine if we should be holding USDT, BTC or alts. Like on the first day of Bakkt we were mostly holding USDT right now.
We delve into the technical systems that matter the most as 95% of the free trading material is absolutely useless. I create a trading plan for my students so they have the best chance of success.
Our website should be live soon – www.edwardpumps.com
The traders that can prove they are learning my systems effectively also get to trade with my clients money. I respond to questions through twitter DM’s

BBOD: Thank you very much for participating on this edition of “The Trader’s Perspective”, it was our pleasure to have you here. We hope your insights were very beneficial to our readers as well!


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.

Lessons from the crypto bear market – @SatoshiLatino

In this edition of The Trader’s Perspective we interviewed Señor Satoshi, a forex trader turned crypto trader, who gathered most of his experience in the bear market. He shares his winning and emotional control strategy in the crypto market over the years.

Full interview with Señor Satoshi

BBOD: Please introduce yourself and your background in trading.

SS: I was born in Boston and began forex trading in 2012. In 2014, I came across Bitcoin’s whitepaper and was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that I started buying Bitcoin. By 2015, I started travelling to spread the word about Bitcoin. The bear market of 2018 helped me become a better trader. It isn’t the same to trade the asset you love in a bullish market than in a bearish market. As you see it depreciate while you see the bright future it has, you realize that any asset you treated equally regardless of the emotional attachment you have to it. This, the bear market helped me separate my trading from my beliefs. A really important lesson! 

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

SS: I use TradingView for charting. And I used a wide range of indicators including the TD sequential, Bollinger Bands, Moving Averages, Fibonacci, RSI, MACD, chart patterns as well as candlestick patterns.

Regardless of the indicators, support and resistance levels are the keys to identifying potential trades. Throughout the years I have been able to better identify these price hurdles which help me estimate where a given asset is going after breaking support or resistance.

My main strategy is to then wait for confirmation before entering a trade. Before I pressed on the buy or sell button I must have already identified my stop-loss order and my take profit orders as well a countertrade to my idea. This way I lessen my exposure to risk.

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

SS: I rely on support and resistance levels in order to identify risk. If a given asset moves below the support then it will go reach back to the previous resistance, vice versa. Very simple. Since I wait for confirmation before entering a trade, my stop-loss order is set around the previous support level from my entry point. If I’m taken out of the trade, I don’t quickly rush to enter another trade. I try to be patient, wait and eventually, the opportunity will present itself be it two hours,1 day or a week. A new trade will always come.

Therefore, my risk strategy is based on controlling my emotions, making sure I have a stop order before I even enter a trade, and relax when I lose a trade.

BBOD: Why do you think people hold their losses in crypto – 75%+ and not cut them right away?

SS: That’s a really good question. I think they are all thinking that everything will go to the moon. That mentality is not good in the crypto space. That mentality will get you rekt even when holding Bitcoin. This is the only cryptocurrency I believe in, but there could be another one that replaces it. If that is the case, I won’t wait for bitcoin to go to $0 before I sell.

I rely on my technical analysis experience to tell me when to buy for the long term and when to sell.

BBOD: What is the best or worst trading experience you’ve had? What have you learned from it?

SS: When I started trading in forex I feared losing trades. So I didn’t set up stop-losses. In approximately a month or so my initial balance of $1,500 was depleted. That was the worst feeling ever, but it led me to read the Art of Execution, which improved my trading skills significantly. After that, I understood that everyone has losing trades but those who manage risk can make their profits outweigh their losses.

Then, during the bull market of 2017, I bought XRP at around $0.20 and held it. I saw it rise to $3 and even though the TD sequential was telling me to sell as it presented a sell signal in the 3-day chart and then a spinning top candlestick formed. I didn’t pay attention to both bearish signs thinking that it would go to $5 so I didn’t take any profits. I let my stop loss get triggered at around $1.8. The profits of the trade decreased by 40%. Now, I follow what the charts tell me and not what I believe.

BBOD: Do you think crypto traders are drawn to using large leverage?

SS: I think most crypto traders don’t have experience in other markets and that’s where the problem is. If you want to start trading, you should trade forex, commodities or stocks. Learn from low volatility assets and then come join the crypto space.

BBOD: You’ve been sharing a lot about altcoin like BNB, XRP, LINK, would you like to see them in futures trading? -> BBOD will have  17 altcoins when they launch.

SS: I barely trade any altcoins. I have only been trading Bitcoin and Ethereum and, if the perfect trade presents itself, where all signals are giving the same outlook then I’ll trade altcoins. The charts I share in my social media is just to help people manage their trades. I have seen a lot of friends and family get into the moon landing mentality and that’s not good. That’s kind of what’s happening with Chainlink at the moment. As the link army increase, more newcomers are faced with these people calling for a moonshot, so I try to help how I can.

BBOD: What sort of trading rules would you recommend our readers to follow?

SS: For newcomers: read the Art of Execution. Choose whatever indicator you like and read a lot of books about that one indicator, learn everything about it for the next month or so (the more information you find the better, even if it’s repetitive continue reading it.) Learn about compound interest and then open an account with $10 and set up a goal to turn it into $100-$300. Once you have been able to do that you might be ready to trade.

For more advanced traders: don’t read what anybody says. Trust your opinion and your own perspective of the market. Treat your trade as only yours. Don’t let anyone interfere with it.

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.

BBOD launches world’s first DigiByte-TUSD perpetual futures

FOR IMMEDIATE RELEASE

HONG KONG, 14th November 2019 – BBOD, first zero-fee, non-custodial cryptocurrency trading platform has launched the first DigiByte-TUSD perpetual futures. The new derivative contract is now trading at BBOD with 25x leverage.

BBOD’s DigiByte-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 DigiByte miners, who may now use futures to hedge their mining profits amidst the rising cost of mining DigiByte.

Rudy Bouwman, CMO & Co-Founder DigiByte Awareness Team, said: “It’s nice to see BBOD adding new derivatives for DGB. The perpetual futures contract cannot only be used as a leveraged trading product but also be used as hedge to secure profits without selling their DGB.”

Jacob Ruczynski, CEO at BBOD, said: “We are extremely happy to launch the first perpetual futures contract on DigiByte. There has been a strong client demand for this product and we believe our DigiByte-TUSD perpetual futures will increase price efficiency, transparency and liquidity in the cryptocurrency altcoins markets. Finally the DigiByte miners may effectively hedge their mining profits. They do not need to sell the cryptocurrency but instead they can go short if they want to hedge the mining profits or if they think that the price will temporarily go down.”

This new contract expands BBOD’s derivatives offering which currently includes Bitcoin, Ethereum, Ripple, Litecoin, EOS, Stellar, Cardano, Monero, IOTA, NEO, Binance and Digibyte perpetual futures. 

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


About BBOD

BBOD is fully transparent, non-custodial cryptocurrency derivatives trading platform for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and multiple Altcoins 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 Digibyte

DigiByte (DGB) is a decentralized global UTXO PoW based blockchain with a focus on Cyber Security, DigiAssets, Payments & Secure Communications Technologies. The DigiByte blockchain was developed in 2013 and released in January 2014 by Jared Tate (Creator & Founder of DigiByte) with an open-source protocol. The DigiByte blockchain has had over 280,000+ full nodes downloaded since April 2017 and uses five secure and advanced cryptographic mining algorithms to prevent mining centralization. For more information, please visit https://www.digibyte.co

Trading Psychology: why you should learn to control your emotions

The mindset of a trader is arguably the trader’s most important asset. It is highly undervalued today in the time and age of indicators and signals. Every other wannabe trader gets introduced to trading with the possibility of making huge sums of money in a short period of time. Such scenarios are highly improbable. Even professionals who day trade make no more than 2%-4% on a good day.

Traders that get lured in the markets to make a quick buck most certainly lose money. They might get lucky once or twice and stick around. However, the real profits come in when you stay in the markets for a while, learn its ways and most importantly – control your emotions and brain while trading.

Not a lot of emphasis is given on the mindset of a trader. This is why 90% of traders lose money in the market. The 10% of traders that stay know the importance of having a stable mind while trading.

To trade in the right mindset, requires quite a bit of practice. Emotions like fear and greed should be disregarded.

Trading is like playing a video game and there are two important emotions that mess up your game. Fear and Greed.

It is not your fault that you experience these emotions while trading. Humans have evolved over millions of years successfully, because of these emotions. 

However, when it comes to trading, these emotions are best left at the door. 

How emotions control your trading

You come to trade on BBOD and see a wonderful setup on the XMR/TUSD contract. It checks all your indicators and you decide to go long 10XMR at 63TUSD, totalling 630TUSD

You have set your stop loss at 60TUSD which means you are willing to take a loss of 30TUSD. 

Your target is 72TUSD which means you are willing to take a profit of 90TUSD if the price moves up.

This is a decent setup with a risk:reward of 1:3. We will discuss more about this in later posts. 

There are three possible outcomes:

Market goes up (GREED)

The contract is now trading at 75TUSD, 3TUSD more than your target. You are extremely happy that you have made a good amount of money in this trade. You get greedy and add 10XMR more to your position. The market makes a massive move against you and it goes back down near your stop loss.

Market goes down (FEAR)

The contract is now trading at 60.5TUSD and is only 0.5TUSD away from hitting your stop. You are fearful, even though you have defined a stop loss. You are hopeful that the price will go back up in a while. Your brain plays wonderful tricks on you and convinces that your analysis cannot possibly be wrong. You move your stop lower, add 10XMR to average your position and wait for the price to go up.

This is a classic mistake. You bite your nails in hopes that the price goes up. The market makes another move downwards and you move out of your position in a hurry, out of fear. You feel terrible to have broken your own rules. 

There is a third outcome where the market trends sideways – You get frustrated on waiting days at end for your move. You eventually come out of the position at breakeven. Right after you exit your position, the market moves in your direction. 

You can experience these scenarios and emotions daily in the markets. The professionals are extremely good at suppressing and controlling them.

Control your emotions

To become a successful trader, you need to master the way you think.

Had a stressful day at work? Don’t trade.

Fought with your loved ones? Don’t trade.

Feel extremely sad or happy? Don’t trade.

Find time everyday to be comfortable in your headspace. Try to enjoy silence and serenity. Take up a meditation practice. Acknowledge fear and greed when they hit you and watch them fade away. This is really important to trade in the markets.

There is a quote by a professional trader who once said, “If you sit across the table from me while I day-trade, you won’t be able to tell whether I am $2,000 ahead or $2,000 behind on that day.”

If you are in good mood and control your emotion you can start trading. Sign up now at https://bbod.io to access plethora of perpetual futures contracts on altcoins with leverage.

BBOD launches world’s first zero-fee, transparent custody, crypto derivatives trading platform

PRESS RELEASE – FOR IMMEDIATE RELEASE

Hong Kong (November 8th, 2019) – BBOD, world’s first zero-fee, transparent custody, cryptocurrency derivatives exchange with an unprecedented level of security and transparency, is now live and open for business.

The lack of transparency, trust, and adequate fund security at centralised exchanges has grown urgent demand for better custodial practices, separating user funds from the funds of the holdings of the exchange.

During a recent press conference, Jacob Ruczynski, CEO at BBOD, explained the security feature: “At BBOD, custody of cryptocurrencies is completely separate from the exchange. As a result, our platform does not hold private keys to the client’s balances. Instead, each client holds their funds in a decentralised smart contract account. No private keys are created. Therefore, the keys can not be stolen by hackers.” 

All user balances are updated daily and visible on the Ethereum blockchain. The public may monitor in near real-time the number of users registered, their balances and the total amount of funds at the exchange. This design allows BBOD to pass proof-of-solvency and proof-of-reserves audits using solely publicly available data.” he added. 

BBOD partners with TrustToken to offer the world’s first TUSD-settled perpetual futures contracts with up to 50x leverage, allowing market participants to go long or short on various cryptocurrencies, empowering them to express sentiment and manage risk more effectively using a stablecoin collateral. The instrument has no expiration dates, unlike fixed maturity futures.

Ryan Rodenbaugh, Business Development Lead at TrustToken, said: “We’re excited to continue developing TUSD to better meet the demands of modern markets. Starting as a better way to move money to becoming a staple currency across spot markets, TUSD is proud to now serve the futures and derivatives markets. Empowering crypto traders to enter these enormous markets is part of our ongoing commitment to growing the utility, credibility, and accessibility of cryptocurrencies, and we’re proud to be doing it with BBOD.”

BBOD is to become the most liquid and secure marketplace to trade altcoins with high leverage aiming to list perpetual futures contracts on +50 cryptocurrencies by Q2/2020 and +100 by Q4/2020.

In the first stage the BBOD platform will offer TUSD-settled perpetual contracts with up to 50x leverage on the following 17 underlying cryptocurrencies : Bitcoin, Ethereum, Ripple, EOS, Tron, NEO, Binance, Litecoin, Stellar, Cardano, IOTA, Monero, NEM, ICON, Elastos, Decred, Digibyte. 

BBOD Chief Economist, Piotr Arendarski Ph.D., said: “The cryptocurrency derivatives space still lacks professional, reliable marketplaces to trade altcoins with high leverage, and this is what we provide on our trading platform. We apply the same standards in terms of risk management and compliance as you would see in the established finance space. 

“The firm has a number of additional futures contracts on altcoins and on crypto indices in the pipeline and plans to expand its range of services,” he added. 

In the next stage, the zero-fee BBD-settled market will be launched with 4 contracts: BTC, ETH, EOS, LTC vs. BBD on December 9th, 2019. There will be no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract). Traders need to use the BBD token as a collateral, so balances and PnL is denominated in BBD.

Additionally, BBOD will be conducting a non-dilutive public offering of 8,000,000 BBD tokens which is starting on the 19th of November, 2019. Interested parties may purchase BBD tokens with up to a 60% discount in relation to the intended price of the token at the BBD/TUSD spot market; to be launched on December 10, 2019.

To learn more about BBOD’s cryptocurrency derivatives trading platform, visit their official website at http://www.bbod.io

About BBOD

BBOD is a fully transparent custody cryptocurrency derivatives trading platform for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and multiple Altcoins futures contracts with a stablecoin collateral. The transparent custody 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/

Join BBOD’s Chat on Telegram
Follow BBOD on Twitter

Media Contact Details:
Hannah E. Lee, marketing@bbod.io

This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Announcing BBOD: The most diverse cryptocurrency derivatives exchange

BBOD in Brief

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 and Seoul. 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.

BBOD partners with Trustoken (TUSD ) and with one of the most reputable electronic exchange operators worldwide – GMEX Group, who has developed and will host and manage the state of the art low-latency, high-throughput matching engine exclusively for BBOD. To get to know more about GMEX, please watch our interview with Hirander Misra – Group Chairman & CEO of GMEX Group and this interview with Tony Harrop, CIO & Director of GMEX Technology to find out why BBOD is going to offer the fastest and most reliable, high performance multi-asset matching engine in the cryptocurrency industry.

BBOD’s high performance matching engine explained by Tony Harrop, CIO & Director of GMEX

Our goal is to grow to the level of Bitmex and Huobi within the shortest possible time frame. We want to grow our technology department, acquire new users, grow our volume up as quickly as possible and build an engaged community of traders, therefore we will be conducting a pre-listing offering of our 8mln existing BBD tokens to help us reach the next level of growth. Do not miss the chance to buy BBD tokens cheaply before the first listing! Click here to learn more how to buy the next 100x token : https://bbod.io/offering

Our Trading Products

Cash / Futures / Option markets
◾️ crypto perpetual futures contracts TUSD-settled, eg. BTC/TUSD.
◾️ crypto perpetual futures contracts BBD-settled, BTC_0/TUSD (to be launched on December 10, 2019)
◾️ cash markets BBD/TUSD, BBD/ETH, ETH/TUSD (to be launched on December 10, 2019)
◾️ crypto fixed-date futures contracts (to be launched on Q2/2020)
◾️ forex, commodities, treasuries, equity (to be launched on Q3/2020)
◾️ options on futures (to be launched on Q4/2020)

Multi assets platform
BBOD will list both crypto futures and traditional equity, fixed income, commodity and currency futures, vanilla options. In the first stage BBOD lists on the following 17 perpetual 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.

Vanilla futures contracts
The bulk of existing derivatives exchanges (Bitmex, Deribit) offer inverse futures – a futures contract quoted in one currency (e.g. USD) and settled in the other (e.g. BTC). This approach complicates the PnL calculation and selecting the size of the contract. BBOD offers vanilla futures contracts quoted and settled in one currency TUSD. This makes the PnL calculation straightforward: (Exit Price – Entry Price) times the number of contracts in the base currency.

Our Key Features

Zero-fee leveraged trading

BBOD will be the first Zero-Fee Crypto Futures Exchange to be launched on December 9th, 2019. There will be no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract). Traders need to use BBD token as a collateral, so balances and PnL is denominated in BBD. The price of e.g. BBD/TUSD will be fixed during the day and set as the close price from the previous day. During the trading session, % changes of BTC/BBD and BTC/TUSD indices will be the same. Every day at 0:00 UTC the BTC/BBD index will be updated based on the change in price at BBD/TUSD spot market.

Leveraged altcoins trading

The cryptocurrency derivatives space still lacks professional, secure and reliable marketplaces to trade small and mid-cap altcoins with relatively high leverage (10-25x). Due to low volume and high volatility of the smallest coins, an exchange is imposed on frequent and unpredictable liquidations. At BBOD we applied our proprietary smoothing technique in the index calculation which greatly reduces unnatural price spikes related to liquidity drainage. 

We hope that our sophisticated index calculation algorithm will allow us to become the most diverse, liquid and secure marketplace to trade small/mid-cap altcoins with high leverage, with the aim to list more than 100 altcoin perpetual futures contracts by Q4/2020.

Every new cryptocurrency contract will be chosen by our community. We will organise a poll every week on Twitter and Telegram to ask our community which new contract they would like to be listed on our exchange next.

USD-based stablecoin settlement

Nowadays, at almost all exchanges traders need to post different collateral to be able to trade the whole range of products. An example of this is at Bybit with 4 collaterals (BTC, ETH, LTC, EOS) or Deribit with 2 collaterals (BTC, ETH). Universal USD-based collateral is a standard at established exchanges like CME, CBOE where most of the products are quoted in USD. You deposit USD to your broker and you can trade all the products using one universal collateral.

BBOD futures contracts are settled in USD-based collateral (currently TUSD). This means that profits, losses, account balances and margin requirements are denominated in the stable cryptocurrency. All the underlying assets may be traded using one universal collateral.

Unprecedented security : Non-custodial accounts

If you hold coins at any derivatives exchange (Bitmex, FTX, Bybit), please be advised that the owners of the exchange have full control and responsibility to keep the coins safe. The owners hold private keys to your coins. 

At BBOD custody of cryptocurrencies is completely separate from the exchange. As a result, our platform does not hold private keys to the client’s balances, instead each client holds their funds in a decentralised smart contract account. No private keys are created therefore the keys can not be stolen by hackers.

Transparency

All user balances are updated daily and visible on the Ethereum blockchain. This means that every day a user’s off-chain balance (at the trading platform) matches the on-chain balance (an ethereum contract account). This design allows BBOD to pass proof-of-solvency and proof-of-reserves audits using solely publicly available data.  Members of the public may monitor: 

  • the total amount of funds at the exchange as a sum of all user balances
  • the number of users registered as a number of contract accounts created
  • daily amount of funds settled on the blockchain (realised PnL, fees, funding payments)
  • all user balances

BBOD Green Trading

The BBOD Team believes in ‘Healing Corporations’ – i.e. making the world a better place through business and their profits, as we are strongly convinced that business should be a catalyst for a better world. We decided to donate up to 15% of our all trading fees to selected foundations, and you, as a BBOD trader will automatically participate in the contribution just by trading on our platform. Starting on Q1/2020, from every month onwards we will organise a monthly poll on our Twitter and Telegram to ask our community to pick a charity organisation which will receive donations from BBOD. In the beginning of our journey we would like to support two foundations that truly touched our hearts; Plant-for-the-Planet and One Humanity Care.


Competitors

Many users who are new to BBOD, but familiar with Bitmex, Deribit or FTX may ask what are the main differences. This comparison table is meant to point some of the major differences between BBOD and our peers.


BBD Token in short

BBD is the exchange token of BBOD. BBD is an ERC20 token. You can find it on etherscan here.
BBD tokens will be listed on BBOD trading platform on 10th December 2019.
◾️ Total supply: 117,399,409 BBD (341 addresses)
◾️ Max. supply: 275,803,582 BBD (356 addresses)


BBD Token economics

  • Collateral: BBD is used as collateral for margined positions on the BBD-settled futures market (eg. BTC/BBD perpetual contract.) This increases utility and demand for BBD.
  • Zero-Fee trading: There are no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract).
  • Fee Discounts: Users pay reduced trading fees on the TUSD-settled futures market based on their BBD balance and daily trading volume. Staking tokens slows down the velocity of the coin and increases its value.
  • Rewards: Earn more in trading competitions when you hold the BBD Token. Gain access to a premium affiliate link.

Our discounts are one of the most attractive in the crypto derivatives industry. Up to 20% discount, and the minimum needed to get a 10% discount is just 500 BBD ($130 worth / 0.65 TUSD per BBD). For example, to get 10% discount at FTX platform , you need to hold FTT tokens of value 5,000 USD.

The table below presents the current fee discount structure

The tables below presents fees comparisons for Bitcoin/USD and IOTA/USD contracts across top derivatives exchanges.


How To Start Trading on BBOD

  1. Register for a BBOD account using your email address.
  2. Insert your withdrawal address, which needs to be an ethereum account owned by you. This account will be whitelisted for withdrawals. The withdrawal address whitelist is an obligatory security feature offered by BBOD. The whitelist feature is always turned on – you will be able to make withdrawals only to the addresses that you inserted during the first deposit.
  3. Deposit TUSD or ETH (minimum 2.5 TUSD or 0.003 ETH).
  4. Then your personal contract account (custody) has just been created.
  5. Now you can start buying or selling futures contracts with up to 50x leverage. Our matching engine is able to process 1,250,000 messages per second.
  6. BBOD’s smart contract performs autonomous, secure and controlled settlement in order to sync your off-chain balance (at your trading account) with on-chain balance (your contract account on blockchain).
BBOD’s design : relationship between on-chain and off-chain system

Join Our Global Community 👫

Stay updated on the upcoming BBOD developments via our various social media channels:

Telegram: https://t.me/BBODCommunity

Twitter: https://twitter.com/BBODTrading

Facebook: https://www.facebook.com/BBODTrading

YouTube: https://www.youtube.com/c/BBODTV

Linkedin: https://www.linkedin.com/company/bbod

The Ultimate List of Cryptocurrency Exchange Hacks

Key Takeaways
– $1.74B = all-time amount hacked from cryptocurrency exchanges worldwide
– $158M = amount hacked in 2019
– Bitcoin is the most often stolen cryptocurrency

For the past decade, Crypto Exchanges have faced the wrath of hackers. More than 1.7 Billion US Dollars have been stolen from Crypto exchanges.

The alarming trend in the crypto exchange market is that, within the first 7 months of 2019, the industry has experienced the same number of hacking attacks as in the entire of the previous 2018 year, and cyber security gaps in 2019 were mainly experienced by the established crypto exchanges.

The detailed list of hacks at cryptocurrency exchanges that have happened between 2011 and 2019

Date Exchange CountryAmount Cryptocurrencies affected
November 2019UpbitSouth Korea$50,000,000Ethereum
July 2019 BitpointJapan$32,000,000Bitcoin, BTC Cash, Ripple.
June 2019BitrueSingapore$5,000,000Ripple and Cardano.
June 2019Gatehub Slovenia$10,000,000Ripple
May 2019BinanceMalta$41,000,000Bitcoin
March 2019BithumbSouth Korea$13,000,000Ripple and EOS
March 2019DragonExSingapore$7,000,000Multiple major coins
September 2018ZaifJapan$60,000,000Bitcoin
Jun 2018BancorSwitzerland$23,500,000Ethereum and others
Jun 2018CoinrailSouth Korea$40,000,000Multiple coins
Jun 2018BithumbSouth Korea$31,000,000XRP
Apr 2018CoinsecureIndia$3,500,000Bitcoin
Feb 2018BitGrailItaly$195,000,000NANO
Jan 2018CoincheckJapan$534,000,000NEM
Dec 2017Nicehash$60,000,000Bitcoin
Dec 2017YoBitSouth Korea17% of crypto assets
Aug 2017OKEXHong Kong$3,000,000Bitcoin
Apr 2017Ether Delta$266,000Ethereum
Apr 2017YapizonSouth Korea$5,300,000Bitcoin
Apr 2017YoBitSouth Korea$5,600,000
Feb 2017BithumbSouth Korea$7,000,000Bitcoin
Aug 2016BitfinexHong Kong$72,000,000Bitcoin
Feb 2015BTER$1,750,000Bitcoin
Jan 2015BitstampLuxembourg$5,100,000Bitcoin
Oct 2014MintpalUK$3,500,000Vericoin, Bitcoin
Oct 2014BitpayUnited States$1,800,000Bitcoin
Jul 2014CryptsyUnited States$9,500,000Bitcoin, Litecoin
Mar 2014PoloniexUnited States$50,000Bitcoin
Feb 2014Mt. GoxTokyo$460,000,000Bitcoin
Nov 2013PicoStocks$6,000,000Bitcoin
Nov 2013BIPS$1,000,000Bitcoin
Nov 2013Inputs io$1,200,000Bitcoin
May 2013Vicurex$50,000,000Bitcoin
Dec 2012BitMarket$260,000Bitcoin
Sep 2012Bitfloor$250,000Bitcoin
Oct 2011Bitcoin 7$50,000Bitcoin
Jul 2011Mt. GoxTokyo$30,000Bitcoin
Total$1,738,656,000

The number of hacks at cryptocurrency exchanges that have happened between 2011 and 2019

YearNumber of hacksTotal amount affected
Jan-Nov 2019 7158,000,000 USD
20187887,000,000 USD
2017781,166,000 USD
2016172,000,000 USD
201526,850,000 USD
20145474,850,000 USD
2013458,200,000 USD
20122510,000 USD
2011280,000 USD

You might notice by now that the exchanges are at major risk by hacks. To combat this, crypto exchanges have tried to use various techniques like storing funds in cold wallets. However, as exchanges operate over the web, some funds are also stored in hot wallets. While the hot storage (online wallet, e.g. Metamask) of private keys has lead to these headline snatching news, there are surely ways to have a secure, simple and entertaining crypto trading experience.

To keep your funds safe at the exchange, BBOD has come up with a novel non custodial solution. It means that we do not hold your funds, instead they are safely stored inside a special ethereum wallet called a smart contract and simply cannot be hacked. This proprietary method by BBOD uses the Ethereum blockchain paired with a smart contract programmed on the blockchain to keep user funds safe. This is where the offering by BBOD comes to the rescue.

BBOD offers a state of the art non custodial trading platform with leverage up to 50x. Trading on BBOD is much safer than any other centralised exchange.

This is a community driven research article. You can contribute to the research and find the table of cryptocurrency hacks with all the details. Please report any missing hack to our telegram chat : https://t.me/BBODCommunity

How to deal with trading setbacks/ Benjie Pagayon

In this edition of “The Traders Perspective” we have an interview with Benjie Pagayon, a Blockchain Analyst. For several years now Benjie has also analysed the crypto market through charts and he is now serving clients in several locations including the United States, Australia and Asia as a crypto market analyst.

BBOD: Thank you very much Benjie for allowing us to interview you!

Benji: Reply: It’s my pleasure.

BBOD: When and how did you get involved into crypto trading?

Benji: I started trading in 2014. But I’ve known about crypto and Bitcoin since 2011. My friend and I were mining Bitcoin that year. We sold all of it really cheap to the content creator and writer because we thought it was only a thing with small value at that time but later on we discovered that Bitcoin has a future so again I found a way to boost my ambition on Bitcoin and join the platform on crypto.

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

Benji: It was when a platform [POLONIEX] got hacked in March 2014 and the blockchain was also hacked. That has ruined my portfolio and buy positions, it was a challenge for me and I just continued trading in the platform until today because I believe Bitcoin is the next big thing in the future of the financial world and these setbacks just made me stronger.

BBOD: Charts or fundamental analysis – what is your preference and why?

Benji: I prefer using psychological techniques rather than math on making chart predictions and analysis because the market depends on season, economics of origin and projects of one’s stocks.

BBOD: For you, what qualities make a trader successful?

Benji: A trader needs to be focused. They need to have the time and they need to be resourceful. They also need to have patience, discipline and remain optimistic and they must maintain good health then they will be successful.

BBOD: What sort of trading rules would you recommend our listeners/readers to follow?

Benji: You need to risk only 2% of your capital on a fast execution or either way and risk only what you can afford to lose.

BBOD: What are your top three ‘must haves’ in a trading platform?

Benji: My three must haves are:

1. The platform must be good, secure, no bugs and delays.

2. Must have drawing tools.

3. Must have security and history of your account.

BBOD: Here at BBOD we’ve started our Beta. Have you done beta testing yet? Any feedback?

Benji: I did check out the platform. I just have not traded yet because I have been busy lately, but will definitely trade once I have the time and focus. The platform’s options and tools are running smoothly and it is easy to use. I hope it has good security since it is new. I also hope you have a good marketing strategy to make it famous to investors elsewhere and to secure investors’ funds and to be competitive on every platform in the current market.

BBOD: Please tell us more about your social media platforms and how a newbie to trading can benefit from them?

Benji: I have pages on Facebook, Twitter, and LinkedIn that offers the audience free bitcoin charts and tips, free chart predictions, pattern readings and current chart momentum on the top ten altcoins (especially on BITCOIN). They can visit my pages to learn how to analyze the market and they can message me on LinkedIn, on Facebook and on Twitter. Thank you very much!

BBOD: Thank you Benjie, we really appreciate you taking the time to participate in this interview and sharing your feedback about our trading platform. We’ll do everything we can to improve it and hopefully we will see you on board!


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.

MACD Indicator Profitable Trading Strategies

Introduction

This article will teach you how to read MACD (Moving Average Convergence Divergence), how it is calculated, and profitable trading strategies including bullish and bearish divergence, and histogram analysis.

You will learn:

  1. How MACD is calculated
  2. The MACD Histogram and how to read it
  3. How MACD is useful to profit in any financial market
  4. Bullish and Bearish MACD Divergence

How MACD is calculated

As you can see in the image below, MACD is composed of two lines, the blue (fast line) is called the MACD Line and the red (slow line) is called the Signal Line. The histogram displays the difference between the MACD Line and the Signal Line, so when the lines cross over, the histogram is equal to zero.

What the MACD indicator looks like
Fig. 1 The MACD Indicator

The MACD Line = 12 EMA – 26 EMA

Signal Line = 9 EMA of MACD line

Histogram = MACD line – Signal line

The MACD Line (in blue) is calculated by taking the 12 EMA  (exponential moving average) away from the 26 EMA that are both measured using data from the price chart. The MACD line is faster than the signal line because the signal line is a 9 EMA  of the MACD line.

An EMA (Exponential Moving Average) is a moving average that puts more weight on the most recent data points. ‘An EMA reacts more significantly to recent price changes than a simple moving average (SMA), which applies an equal weight to all observations in the period.’ (Hayes, 2019).

The MACD Histogram and how to read it

The MACD histogram is displayed using vertical bars (see green bars in Fig. 1) that represent the difference between the MACD line and the Signal line. When the histogram crosses the zero line, the MACD lines are crossing. When the faster (blue) MACD line is above the slower (red) signal line, the lines are moving upwards and so the histogram is above the zero line. When the faster (blue) MACD line is below the slower (red) Signal line, the lines are moving downwards, so the histogram is below the zero line.

One of the greatest values of the MACD histogram is given by identifying when the difference between the two lines is increasing or decreasing. If the histogram is well above the zero line, but starts to fall, the uptrend is losing strength. During a downtrend, when the histogram is well below the zero line, but starts to rise, the strength of the downtrend is weakening. 

The histogram turns provide early warnings that can be used to anticipate a reversal in the trend of price. The MACD histogram crossover of its zero line is always preceded by a tun in the histogram towards the zero line (Murphey 1999). For example, as shown in Fig. 2, the entry 1 provided by the higher histogram tick (histogram 2 is higher than 1) is a lower and better price to buy than the entry 2 that is given from the MACD lines crossing. 

A crossover of the MACD lines is always preceded by a turn of the histogram.
Fig. 2 Using the histogram as a tool to enter and exit positions.

However, the histogram turns are best used for exiting already established positions. It is much riskier to enter a position against the trend based on a histogram turn (Murphey 1999). In the example shown in Fig. 2, the exit signal that is provided by the downtick in the MACD histogram (histogram 4 is lower than 3) offers a great place to take profit.

Please feel free to test your trading strategy on BBOD, the first non-custodial cryptocurrency derivatives trading platform with an unprecedented level of security and transparency.

How MACD is useful to profit in any financial market

The crosser over of the MACD and Signal line is used by many traders as a signal to enter a position. If the MACD line  (blue) crosses downwards below the signal line (red), this is a sell signal (see points 1 and 3 in Fig. 3) and if the MACD line (blue) crosses upwards above the signal line (red), this is a buy signal (see point 2 in Fig. 3). When the MACD lines are well above the zero line, the underlying asset is overbought (see crossover 3) and when the MACD lines are well below zero, the asset is oversold (see crossover 2). The best buy opportunities are when the MACD lines are very low and the best sell opportunities are when the MACD lines are very high.

The MACD line crossover trading strategy.
Fig. 3 The crossover of the MACD lines can be used as a buy or sell signal.

However, in my opinion (having traded using MACD for many years) I believe that using MACD crossovers as a buy or sell signal will offer too many buy and sell signals that will result in losing trades. I do not disregard the signal altogether, but I think it should be a complementary signal to other indicators and not a primary signal to enter trades. For example, if you combine the MACD indicator with RSI, Elliott Wave, Candlesticks, and Volume analysis, your profitability can increase massively. If you want to learn about these indicators, check out the other articles on the BBOD Blog.

A much more profitable way to use MACD as a signal to enter and exit positions is by identifying Bullish or Bearish divergence.

Please feel free to test your trading strategy on BBOD, the first non-custodial cryptocurrency derivatives trading platform with an unprecedented level of security and transparency.

Bullish and Bearish MACD Divergence

When a divergence on the MACD histogram is seen, it warns of a reversal in the trend, so it offers a great opportunity to make a quick profit and is applicable to any financial asset. 

A Bullish Divergence on the MACD indicator is seen during a down-trending market when the price makes a lower low (4 is lower than 3 in Fig. 4) while the MACD histogram makes a higher low (2 is higher than 1 in Fig. 4). Thus, the MACD is signaling that the price will likely rise. In the example shown below, a good way to signal where to take profit is to wait for the histogram to tick lower, as shown by the profit targets 1 and 2.

MACD Bullish Divergence
Fig. 4 An example of MACD Bullish Divergence

Bearish Divergence is seen during an up-trending market when the price makes a higher high (4 is higher than 3 in Fig. 5) while the MACD histogram peaks made a lower high (2 is lower than 1 in Fig. 5). Once the MACD histogram begins to make a lower tick on the second peak, this can be used as a signal to enter a short position. A method to take profit can be to wait for an upward tick in the MACD histogram as shown in the example below (see ‘take profit’).

Fig. 5 An example of MACD Bearish Divergence

Author: Luca Williams

Conclusion

Please note that you can substantially increase your chances of success if you combine MACD Indicator signals with other forms of technical analysis such as Elliott Waves, RSI, Volume, Moving Averages, Candlestick Reversal Patterns Part 1, Part 2, Part 3.

Please feel free to test your trading strategy on BBOD, the first non-custodial cryptocurrency derivatives trading platform with an unprecedented level of security and transparency. BBOD is to become the most liquid and secure marketplace to trade altcoins with high leverage aiming to list perpetual futures contracts on +50 cryptocurrencies by the end of 2020.

Author: Luca Williams

Disclaimer

This article has been prepared solely for informative purposes and should not be the basis for making investment decisions or be construed as a recommendation to engage in investment transactions or be taken to suggest an investment strategy in respect of any financial instruments or the issuers thereof. BBOD will not be liable whatsoever for any direct or consequential loss arising from the use of this publication/communication or its contents. 

References

  • Hayes, A (Jul 8, 2019) Exponential Moving Average – EMA Definition, Available at: https://www.investopedia.com/terms/e/ema.asp (Accessed: 11th of October 2019).
  • Murphy, J. J. (1999). Technical analysis of the financial markets – A comprehensive guide to trading methods and applications: The New York Institute of Finance

Tips for Crypto Traders from @TraderViniSouza

In this edition of “The Traders Perspective” we interview Vinicius Souza Trader, a Brazilian crypto trader who shares his expectations regarding the growth of futures trading, some of his strategies and tips for beginners, and his opinion in regards to what he thinks crypto traders require from exchanges.

Full interview with the crypto trader Vinicius Souza:

BBOD: Thank you so much Vinicius for allowing us to interview you! So the first question is: when and how did you start trading? Do you only trade cryptocurrencies?

Vinicius: I started to trade on September 12, 2017 and I work only with cryptocurrencies.

BBOD: What was the riskiest trade you ever made? What was the result?

Vinicius: The riskiest operation was to operate with the capital of a group of investors, my result was 2% positive!

BBOD: What is your main trading strategy and what kind of trading tools do you use to analyze the market? Graphs or reasoned analysis – what is your preference and why?

Vinicius: I use the strategy of buying at support and selling near resistance, using the graphical indicators and tools on TradingView. My trade is based on technical analysis because it tends to respect the indicators. I use support and resistance, Fibonacci, MACD, RSI and moving averages.

BBOD: What qualities do you think make a successful professional trader?

Vinicius: Setting up a strategy and following it, a positive setup makes all the difference for the trader to have consistency in the market.

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

Vinicius: The most common mistake is to operate when emotional, we must avoid putting feelings in the operations so we become more technical and safer in our actions.

BBOD: What kind of trade rules or principles would you recommend to our listeners / readers to follow?

Vinicius: Follow the market and understand how the waves of buying and selling the asset work. Learn how to use the graphical indicators and follow the big players to follow their movements, fleeing the herd effect.

BBOD: What are the top three items a trading platform should have?

Vinicius: Safety first, liquidity second, and lastly a user-friendly layout.

BBOD: What would you like to know before you started trading?

Vinicius:. The market will always have ups and downs, opportunities always come.

BBOD: How can a Trader prevent his greed from influencing the size of his position?

Vinicius: Always work with a goal first and know where you can go.

BBOD: The BBOD has begun testing the private beta. Have you had a chance to take a look? Got any feedback?

Vinicius: Yes, I found it very interesting and innovative. The futures market on crypto is only just the beginning and we have a lot to grow!

BBOD: Please tell us more about your educational service and how can a novice trader benefit from your educational service?

Vinicius: I work with consulting, focusing on students who are aware of crypto assets and want to operate this market. I also help beginner traders adjust their Setup as positively as possible! People who want to get started in the cryptocurrency trade market can contact me via social media or WhatsApp and I will support them to start trading in the crypto market.

BBOD: Thank you Vinícius, we really appreciate your participation in this interview and thank you for sharing your knowledge with our community. We will do everything we can to improve our platform and look forward to seeing you on board!


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.