21–27 of 27 posts
The philosophy behind HODL is that you need to hold for 5-10 years plus in order for the strategy to work. The 1-year timespan in the graphs on the site are way too short. If you want to cherry pick a point to "disprove" HODL, just look at the fact that in November 2013 Bitcoin traded at an eye-watering $950+, and then for 2.5 years beat a steady retreat to $400. At this point, bitcoin can taper down to $3K in value…
What's the reasoning behind the philosophy?
Taxes would kill any benefits of trading. Plus, never believe random backtesting you see on the Internet.
Sure it shows the algorithm beats a hold strategy in 8/10 instances... ...but the "hodlometer.com" domain was registered 3 days ago. It's trivial to develop an algorithm by cherry-picking parameters that will give any desired results for historical data. But there's vast research on how it's impossible to predict/beat the market like this in reality [1], and this site is obviously designed to prey on the uneducated a…
I notice that the N in "N days return" is different for each currency shown. The cherry picking here isn't even subtle!
I can see though how it looks untrustworthy because of that, thanks for feedback!
Sure it shows the algorithm beats a hold strategy in 8/10 instances... ...but the "hodlometer.com" domain was registered 3 days ago. It's trivial to develop an algorithm by cherry-picking parameters that will give any desired results for historical data. But there's vast research on how it's impossible to predict/beat the market like this in reality [1], and this site is obviously designed to prey on the uneducated a…
People who know a thing or two about finance are having the time of their lives watching Bitcoin evangelists genuinely believe in technical analysis and not understand that it's on the level of astrology and tarot cards as far as usefulness in predicting prices. (And that's in a fair market. On Bitcoin exchanges, where it's certain that the exchanges are using every trick in the book-- frontrunning, painting the tape…
How would you suggest entering short term trade scenarios then?
I sound snarky, but I'm genuinely curious what you suggest instead.
Would love more details on how the algorithm works, and your thought process behind it (e.g. what other indicators you've looked at, why). You don't have to disclose your secret sauce, but it would give me a lot more trust. Backtested returns are not reliable.
Algorithm have been found on TradingView, and tested among many.
Cryptocurrencies are especially volatile that's why I thought I would need to use ATR. I have also been playing with trailing stop and take profits, so found this algorithm to combine the two.
The parameters have been manually tested, but it would make sense to make run a simulation to get the best parameters for a coin.
The whole site was created in about 6 hours, so don't judge too hard.
USDT? I don't think that is a good advice. Maybe a better one will be to sell BTC in exchange for a HODL coin instead?