This week we’re doing a completely different interview. Someone who is well known in crypto community: Crypto_Ed_NL. He is the founder and owner of the website www.crypto-ta.nl and with over 60.000 followers on Twitter he is one of the most influential international crypto analysts. You might ask: why an interview with Crypto Ed? We’d like to explain that. At Blocker.nl we see more and more people interested in Cryptocurrencies like Bitcoin. We also regularly receive the question whether new investors should join (paid) groups or not, and which ones we would recommend. Unfortunately, we also see increased numbers of investors who contact us that are left empty-handed, because they’ve followed the advice of a paid pump&dump group. We think this is a shame.
The decision to join or not to join a paid group is entirely up to the investor. In general, those interested in Cryptocurrencies are highly educated, critical thinkers and are perfectly capable of making independent choices.
Nevertheless, we believe that it is important to address this subject. We also believe that it is important to mention that Crypto Ed has clearly indicated in advance that his contribution to this interview is not intended to advertise for his paid group. After all, with a waiting list of more than 200 people this isn’t necessary in the first place. We share that point of view.
Blocker.nl is an objective news medium and is in no way affiliated to any (paid) group. The purpose of this interview is to inform new investors and to help them make well-founded choices when it comes to participating or not participating in paid groups.
Hello Ed, first of all thanks for this interview. Let’s go!
When we asked you for an interview, you said that you’d rather not have any personal attention. Can you tell us why you hesitated?
Nature of the beast… I am a very down-to-earth guy and don’t have to be the center of attention. Of course, safety also plays a part. Considering the many hacks and scams, I think it’s okay to go through the Crypto world with an alias. Since the purpose of this interview wasn’t to talk about me personally, but more like an explanation to inexperienced traders, I’d agree to talk about that.
We have already shared a few words about your role in the online Crypto community in the introduction. Many of our readers are curious about the person Crypto Ed and his experience. Can you tell when you started working with Cryptocurrencies and what you have done to this end?
That’s been around 4 or 5 years ago. In that period the community was mainly on IRC and the most useless scams were pumped. The many scams made me realize that it was madness trying to earn on a pump while you knew that the coin had no future. When it was more or less a daily event that another scam was released, I switched to Forex. I made my bread an butter for 2, 2.5 years and in the summer I switched to Cryptos (yep, after the big bull run in the spring), because I saw that the scene had become much more mature.
Did you already have experience in the traditional markets?
Stocks and options, but not as a professional.
What do you think are the main differences between Crypto trading and traditional markets?
I am a great fan of Technical Analysis (TA), but it is much less accurate to use in Crypto. Crypto is much more affected by “whales” manipulation and therefore you are more dependent on a good network, experience and gut feeling.
What does your day look like, as a full-time Crypto trader?
I try to be online early in the morning. First I work through the charts, check (Crypto) news and then our Slack groups to see if anyone needs my help. We have traders from all over the world in the 2 groups, so there is a good chance that questions have popped up during the night. Then I make some charts for the group, do some general talk about the market situation, then I do administration and answer my many e-mails. Unfortunately, I am spending too much time on paperwork, which means I have less and less time for the fun work; making charts and trading. Four times a week in the afternoon we do a live webinar; that needs to be prepared. In the evening I try to stay away from the Slack, but I always keep an eye on things and often that means that I go to bed way too late, because I have many contacts in the USA. Despite the fact that we already have 6 team members, I still feel that I’m short on time every day.
How do you trade yourself? Are you mainly a day trader or do you invest long-term?
Nowadays I switch more and more to longer-term investments. I miss the right moments, because I’m so busy and don’t have the time to closely monitor a course for a longer period of time.
For our members we do make charts for the short to medium term, but unfortunately I don’t have enough time for “swingtrading” myself.
Do you trade against the EUR or against BTC and why?
Certainly not EUR, everything in the financial markets counts in USD and in Crypto also in BTC, so psychological levels are also in USD / BTC and not in EUR.
Well let’s rock: If we give you half a Bitcoin, do you have a list of 10 secret coins that will make us filthy rich?
No, that would mean that I would give guarantees and I simply don’t do that. Those who do must be mistrusted immediately.
Paid telegram groups, Slack communities and Discord channels: It seems as if every Crypto trader who takes himself seriously is connected. Have you ever been affiliated with a paid group yourself?
Yes, but that was in the early days of the Crypto and it brought me little extra. In Forex I spent a while in a group where the idea for my own set-up took shape. If I ever would start one, it would have to be because I saw a future in it.
You have started your own community. Can you tell us something about the way you organize it and, above all, why you started it?
I wanted to bring a community together with the motto “getting better together”. The idea is to be learning from each other and doing research together on interesting coins or trades.
I started with a number of training groups, but I have further developed the concept into the current MarketWatch concept. In this concept we guide the traders. “Learning to fish, not just giving the fish”. All traders have access to a chat room on Slack that is subdivided into a number of channels. We (team of 6) share our charts of potentially interesting trades (with explanations), members can post their own charts with the request for feedback, there is a channel for ICO’s, we discuss coins which we as a group pay a lot of attention to and go through the information that we obtain through our global network, a channel for advice from our accountant and a channel for all Fundamental Analysis that we (or the members) make. In addition, I do a webinar 3x per week in which I discuss the market, show interesting trades and explain backgrounds. Once a week we organize a webinar in which we discuss the “groupcoins”, and once a week I give a training webinar. Most important, however: we are not a signal group. We do not give calls like “buy here, sell at X”. Our members learn why they enter into a certain trade, what the risks are and what the possible scenarios are. We do not have a crystal ball!
What can a paid group add to the success of a Crypto trader?
That depends on how that group is organized. If it is a so-called signal group, you will learn very little and it is often a group where the founder already buys the coin before you, the members after that. Subsequently, it is hyped on twitter and the ignorant buy the coins of that founder. Personally, I am strongly opposed to this.
In a good group you learn how to trade and work together with the other members and the team members. Because the group has a large network, you get a lot more useful information than when you would search for yourself.
Is it necessary to be a member of a paid group to become a successful trader?
No definitely not. A lot of information can be found for free on the Internet and in the end you will also be successful. One will learn faster than the other, and people who don’t learn fast enough will lose some more making trades.
Market manipulation is everywhere and in the Crypto world we’ve become accustomed to this too, including Pump & Dump groups. What is your view on this and how can our readers recognize these types of groups? Are there any more risks of becoming a member of a paid group?
I strongly oppose these practices and am also known for warning against it. I have also had many offers to make charts for that kind of groups that they are going to hype on Twitter and FB. I basically will not participate in that, just like the paid promotion of ICOs. Such groups can often be recognized by the promises they make, the hype-behavior and the emphasis on profit (and guarantee!).
How can you recognize a reliable paid group that could actually help you?
Good reputation, try to find out how the owner deals with criticism. Emphasis is placed on learning instead of profits. Feel free to ask critical questions to the owner instead of blindly bumping your BTC.
Many starting Crypto traders have a small budget and can not afford a paid group. What do you think are good free alternatives for beginning Crypto traders?
Twitter … There are many traders who are working to build a reputation, generate many followers and therefore spread a lot of knowledge. Often they also have a free Telegram / Discord channel where they share information. These guys (often paper traders) will eventually also set up a sort of paid group, but until that time they are excellent sources of information.
What is the best tip you have for novice Crypto traders?
Stick to your plan and don’t overtrade. Do not be tempted to hop from coin to coin to get a little profit everywhere. As long as you are not very experienced, you will just miss the big bangs. The greener grass isn’t always over the next hill. Patience is a virtue in Crypto.
Take your crystal ball for a moment… Which coins should we focus on in 2018? Which coin is greatly undervalued and which one do you think is overcredited?
Coins I expect a lot from: VEN, MSP, WABI, QASH, SPHTX, ICX. For me, these are the new generation of coins. Big companies back those coins that have big plans and a real vision for the future. I see them making bigger leaps than the somewhat older coins with 1-2 developers who focus more on the technological development of their coin. With the newer coins you more or less buy a share in a promising start up.
Is there anything else that we forgot to ask or what you would like to share with our readers?
Watch out with “good advice” from major Twitter or YouTube accounts. Money (or coins) is often offered if you promote that coin with a number of tweets. I have no objection that coins want to advertise, but there is a thin line between objective advice and advice that is driven by the premium. I do not accept any offer, I want to remain objective (and be seen that way).
In any case: please understand that every advice that is posted on Twitter or Youtube is because the poster hopes to earn off it, not because he likes you so much.
4. Which Twitter accounts should our readers absolutely follow, besides Crypto_Ed_NL and @BlockerNL of course ?
Difficult to name them, without forgetting a couple. The readers can better check my Twitter for the accounts I’m following, there aren’t many. I follow a number for personal reasons, but most of them because of their good posts.
Blocker.nl is the Dutch crypto/blockchain community with 0ver 60.000 readers every month. We bring news, blogs, tutorials and interviews. At least twice a week we will post new English content. Soon you can read about our interview with CanYa. We have also planned one with Dirk Scheringa’s ICO Headstart! We have more blogs from Didi (who sold all he had for crypto’s) coming up. Oh, and if all goes well, we’ll bring you an interview with one of the founders of a recent scam!