Repost: Would Coins Chosen at Random Perform Better Than Haejin Advices?
Hello everyone, long time no see right?
I have not been posting these days because i had some days off, and totally away from computers.
Today came to see how things were going around here on steem, and for my surprise, Mr. Haejin downvoted my last post, where i compared his performance to random coins (i wonder why...)
So i am reposting here, so everyone could see what would do better, Haejin advices or coins chosen at random. Since i don't want anyone to miss this information, i will repost this every day on the next 7 days.
Also, stay tuned, because there is more analysis of his performance incoming on the next days.
Enjoy!
Sorry that it took that long, but finally i can presente you the answer to the question above.
Shall we begin?
First, even though i stopped to add new coins to the portfolio on day 04-26-2018, it is interesting to see how would haejin recommendations performance be.
Haejin's:
12k USD... Not bad...
But if i had picked coins at random:
33k! That's 21k more profit than Haejin recommendations. That's a bad start Mr. Haejin...
But Let's see another perspective. How would both portfolios be valued the day after i stopped adding new coins to it?
Haejin performance:
Random coins performance:
Haejin got a point here, but since his performance would be lesse than 1,5% better than random coins, i don't think It's a big achievement...
How about highest and lowest value of the portfolios?
Haejin's:
Random Coins:
Looks like if you chosen random coins, you would have a better return if you were goodenough to sell the coins at It's higher price.
What about closed trades? Maybe Haejin is better at spotting when to close trades?
Total effective profit of haejin closed trades:
$3084. Not bad...
Random coins closed trades (closed at the same point in time as haejin):
$5068. Ops... a lot better than Haejin Recommendations.
You can check the portfolios on the links below:
Haejin Portfolio
Random Coins Portfolio
Conclusion
Haejin performance at predicting cryptocurrencies ar no better than choosing coins at random.
Actually, you would probably be way better rolling a dice to pick your next investment than following his advices.
I always look at his t.a. and have to say... they are worth looking at. He has a valid technical analysis and teaches proven methods.
His singular t.a. is not meant to predict the movements of the markets. It's his collective t.a. that determines action and the full story is never shown. His posts are only there to assist your own analysis.
There is a lot of problems with his TA:
1 - He claims 90% Accuracy rating, wich is impossible. The best Accuracy ever reached by a trader is around 60% (will provide the link of the article later)
2 - By his words: "The price will go up, then some News will happen" wich is bullshit. Big movements happen after the News, because most of the people (the uneducated part of the market) trade reactive too News
3 - Calling trading movements a "quantum event" is pure bullshit
4 - He makes too much noise when he have a hit (Kaboom) but don't say a word when he miss, wich shows he isn't exactly honest
5 - He claims he do it for free, because he is a giving person, but here his is, taking around 9k/week from Steem pool, and now charging for people to join his "exclusive" club. There is no problem in charging for you services, but don't be a hypocrite
6 - His "guides" are pure bullshit
7 - He do analysis on cryptocoins that have almost no trading volume, and a very short lifetime, wich makes them invalid, since there is not enough data to create useful patterns
And a lot of other small bullshits i see now and then.
Better be chosing coins at random.
I don't doubt what you're saying. Do you have a suggestion of a good trader to supplement my analysis?
Hey, Sorry i haven't answered earlier, but honestly, i don't recommend following any trader, Specially in the crypto markets.
This is very new market, with very small historical data, and very easy to manipulate, so is almost impossible to apply any TA technic effectively.
I suggest to stick to the fundamentals when looking for a coin to invest. This guy had some good fundamental analysis, but for some reason, he haven't been posting lately.
But if you are interested in TA, It's Better to learn yourself (there is lots of free resources around the web), and find the techinic that works Better for you.
It's all good man. I definitely agree with what you said. Finding your own strategy is the best thing you can do. Some legitimate mentors would be like finding diamonds though.
Yeah, but legitimate mentors actually have proof of their performance.
True that mane Mr. @truthtrader lol
