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CRYPTOCURRENCIES


FX


will turn, only probabilities. Arbitrage


Chart 1.9 October 22, 2017 – Bitcoin at $5,860


Q4-17 can be described in two words. Moon and HODL. Oh, and arbs. They are completely gone now though but a year ago the only thing stopping you from making more money was your balance on the exchange trading at a discount and the number of coins you had on any exchange trading at a premium.


Chart 1.10 December 10, 2017 – Bitcoin at $14,215


Arbitrage is the buying and selling on different exchanges to profit from the difference in price for the same asset. I used to trade the EUR book on Kraken and the USD book on Bitstamp because these were the most liquid


for those Today, Kraken has


currencies. flawless


Chart 1.11 December 10, 2017 – Bitcoin at $13,474 Ballet of the Charts


In chart 1.8 you see how it all comes together in a nuts-and- bolts trading approach that will present an abundance of solid, time-tested setups with an edge


that work in both bull and bear markets. For the aggressive trader in a bull market, one strategy is to enter long as an ABC down completes at the D point. Just remember to use a stop loss. There are no guarantees the market


execution but back in Q4-17 your orders were sometimes not accepted in the orderbook no matter how many times you tried to enter them. So, whenever I traded arbs on screen I always made sure I got filled on Kraken before offsetting on another exchange.


The price of Bitcoin on Kraken used to lag Bitstamp.


It also


used to trade at a premium to Bitstamp which meant I was a seller on Kraken and a buyer on Bitstamp. To be able to put on as much size as possible I


FX TRADER MAGAZINE October - December 2018 21


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