Thanks for talking of bull traps and your volume guidelines. I am still fairly new to crypto and have gotten trapped a couple of times in the bull traps. My first week it happened several times, and since then I have been able to recover by being patient and waiting for the next trap in a week or so. I also somehow traded out of the false bull move after the G20 conference somehow by playing the differences in ethereum and bitcoin in relation to the other altcoins but would prefer not to revisit that one again.
Although I understand how the market works in crypto I would definitely not trade it. I'm 100% a hodler. I stick to Warren Buffet's style investing. Look for the market that is most likely to outperform the economy over the next 5 years and invest in the top companies you think have the best chance at outperforming the rest.
For me, I feel like that's Ethereum and a lot of the projects under that umbrella. Golem, Steamr, Lunyr, OmiseGo, and maybe a couple others I'm an investor in. These projects probably won't be anywhere near self sufficient until end of this year if we're going by their whitepapers. Once the market becomes a little more regulated and the projects start to actually produce products instead of speculation I'll look at trading. Until then I just trade forex.
Yeah, I switched to Hodling as well.