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The Risks and Rewards of Trading Cryptocurrencies

03/15/2018 2:09 pm EST

Focus: CRYPTOCURRENCY

Ryan Wilday

Editor, Crypto Currency Trading Service, ElliottWaveTrader.Net

Cryptocurrency is the most volatile asset class one can trade. Consider Bitcoin, which has risen from 3 cents in 2009 to a peak of $19,700 peak in December 2017. Yet it has seen multiple corrections ranging from 60-85% since its genesis. And, bitcoin is tame compared to the hundreds of new small cap coins hitting the crypto market every month, asserts Ryan Wilday of Crypto Currency Trading Service, ElliottWaveTrader.Net.

In 2012, with twelve years of trading equities, futures and options behind me, I had no interest in, nor knowledge of, cryptocurrencies. However, a chat with a programmer friend about bitcoin piqued my curiosity. I then dug up a chart and, despite all my years of trading experience, I couldn’t make sense of its sudden spikes and deep drops.

Since my initial introduction into cryptocurrencies, much has changed in my life. Today, I am currently leading the Cryptocurrency Trading Service at ElliottWaveTrader.net (EWT), where I meld my knowledge of the cryptocurrency market with Elliott Wave theory and Fibonacci Pinball. And, every week, I am meeting new people online and in person, introducing them to the concepts surrounding cryptos, and how to trade them.

In this e-book, I share with you everything from the basics of what cryptocurrencies are and how to open an account to the strategies for charting their directions and ways to protect yourself from a range of risks.

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