DeFi Alpha Call #30

The DeFi Alpha Call is an exclusive weekly call for our premium subscribers where yyctrader and Diego talk about the market, the newest tutorials, and the hottest NFTs.

In this week’s episode, they go over Axie Infinity, yyctrader’s trading experience, his technical analysis insights, and the Starter and Degen Tutorial.

The link to the recording and summary can be found below.

01:22 – Axie Infinity
04:18 – Technical analysis insights
08:08 – yyctrader’s trading experience
11:29 – ETH
12:02 – Dollar
13:20 – Bitcoin
15:14 – Starter Tutorial: Enter/Exit DeFi LPs in 1-Click with Portals
19:19 – Degen Tutorial: Track Your Airdrops, Mints, and Governance Votes With Daylight

Axie Infinity

• Up almost 30%.

• Axie obviously has been one of the casualties of the bear market.

• Looks promising actually because this could be considered a breakout after a range-bound consolidation.

• Wait and see if it holds up.

Technical Analysis

Technical analysis gives you an edge because it helps you plan your trades and shows you areas where price reacted strongly in the past, so you can find your support and resistance levels. At least for me, the goal of TA is to make the most money when you’re right and get out of a trade quickly when your thesis is invalidated.

I think the biggest problem many traders have is a lack of patience. Most people, including me, have a hard time waiting, and sometimes it takes a lot of self-control to say, “Okay, I’ll buy it at this price. I’m going to wait until it arrives and it’s fine if it doesn’t. There’s always another trade.”

The market tells a story. You just have to pay attention and wait for your chance. If you just jump into something because it’s pumping or has tanked a lot and you think, “Oh, it’s cheap,” you aren’t getting the whole story. You’re just looking at one page and thinking, “Okay, I’ll make a decision based on this,” but you have access to so much more information. So that’s my take on TA and of course people have different views.

yyctrader’s Background

I started trading in college back in 2007. I aped into Amazon, at like 80 bucks or something, and then it crashed hard. The big financial crisis was a huge learning experience for me.

That was when I saw firsthand how a bear market can destroy a portfolio and more than that, it taught me that, just because a company is doing well, and even though its business is not really affected, its stock can still crash.

• The more detached and mechanical you can be about trading, the better your performance will tend to be.

• Emotion and FOMO essentially are the biggest killers when it comes to trades.

“There’s a saying that you’re only as good as your last trade and that’s so true because you can do everything right for the whole year and give it all back with one bad trade”

Mastering the psychological aspect is, I would say, more important than learning all the indicators, technicals, and everything else that comes with it. You can read every book that’s been written on trading. But if you can’t master your emotions you are going to get rekt.

ETH

• Not much going on as we head into the holiday season.

• I think that we’re going to see $1,360 (at least) before this move is done.

Dollar

• The good thing is we’ve broken below the 200-day average

• As long as we stay under 107, risk should catch a bid

Bitcoin

• I think we will see at least 18K.

• Bitcoin has been somewhat weaker than everything else simply because the Grayscale stuff still hasn’t been resolved.

Tutorials

Enter/Exit DeFi LPs in 1-Click with Portals

If you were there during the heart of DeFi Summer, you probably remember one of the barriers to entry for yield farming was the ability to create a liquidity provider (LP) position. During this time, Zaps quickly became a saving grace for both new and advanced DeFi users because they allowed anyone to easily bundle multiple transactions for splitting tokens into specific ratios (ie 50/50) to form an LP. Learn more

Track Your Airdrops, Mints, and Governance Votes With Daylight

If you’re active in Web3, chances are you’ve missed a free mint or airdrop that you were eligible for, simply because you didn’t find out about it in time. Learn more