Ep.63 – How to Profit from the Coming Cryptocurrency Bubble – Siam Kidd Part 2
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In this episode:
We commit to our new trading routine – backed up with punishments for failure!
Siam ‘The Crypto’ Kidd returns to build on last week’s reasons why, with this week’s ways how to make money from cryptos
Owen complete’s his u-turn to explain why he is now open minded to cryptos and maybe he was just being a wuss before.
Trader Interview – Siam Kidd of The Realistic Trader – How to Profit from the Coming Cryptocurrency Bubble
Siam Kidd wins his hat trick ball with his third appearance on Two Blokes Trading. Today he builds on his previous interview on episode 62 giving us his 7 Reasons Why he is now looking at cryptocurrencies. In this episode he tells you how he is planning to profit from the coming cryptocurrency boom, and how you can too.
He admits that the massive Bitcoin rush is probably a bubble. But he says if you acknowledge that and pay attention it is possible to get into the cryptocurrency bubble early, ride it and get out before the bang!
Siam believes that cryptocurrencies and blockchain are going to revolutionise the world, destroying established business models and eventually replacing fiat currencies.
If he is even half right, this is something we need to pay attention to!
Become a Crypto Tracker Fund
Siam’s suggested methodology is to turn yourself into a tracker fund. He believes that picking new ICO cryptocurrencies in this bubble is a fool’s game.
He compares it to buying speculative penny shares – picking the correct one is virtually impossible. But, if you turn yourself into a cryptocurrency tracker and buy ALL OF THEM then you can effectively profit from the general market bubble without being over exposed to any individual cryptocurrency bubble.
Is this the right idea? …Do Your Own Research! Caveat Emptor etc. To me it makes logical sense. But I haven’t done the maths on whether you will make money if, for instance, half of the cryptos you buy just die out, and one goes to the moon. So if you want to do this, then make sure you do the research!
If you want to hear more about Siam’s ideas on profiting from the cryptocurrency bubble you can check out his cryptocurrency course.
Investing or Trading the Cryptocurrency Bubble
Siam Kidd tells us not to trade cryptocurrencies, but to invest in them. Tom is currently minded to do just that and avoid the short term trading.
Owen tells us that he has opened his mind to the idea of trading cryptos. They seem to move in sync with each other based on the big moves in either Bitcoin or Ethereum. Owen’s theory is that if you can keep your eyes open and understand what is driving price, then you can take advantage of that in exactly the same way as you can with Forex.
The larger volatility can be risky, but volatility is also what drives profit. So, again, make up your own mind! But, there is a growing body of resources out there to learn. The Ashraif Laidi webinar helped Owen a lot and he is attending the free Cypto Masterclass in London on 19th August. If you are interested in the sector then I’d recommend coming and saying hi!
Sign up for the Crypto Masterclass conference on the 19th August here