Every month we interview the best crypto traders at Aluna.Social to get their insights on the market and learn about what makes them successful. If you missed last week’s AMA, check out the recap below where we interviewed Magnus, the #1 trader in February 2021, and the entire 2020. Last year, Magnus made an impressive 15,239% profit and had a 64% win rate. In this AMA we uncover his trading strategy, preferred indicators, and his thoughts on the current state of the market.
Without further ado, let’s get to it!
Q1. Thanks for joining us Magnus. Super excited to chat with you. Please introduce yourself. What do you do for a living? What do you do in your spare time? What are your hobbies?
Hi all, my name is Magnus. I started my Crypto journey in 2013. I decided to make the full-time transition to Crypto just as Defi summer kicked off around March of 2020.
In my spare time, I like to chill with some video games. Something that’s fairly quick and doesn’t eat up a lot of time like Dota2, Fifa or NBA2k. I like to have breaks here and there in between doing Crypto.
Since Crypto makes me so sedentary lol, I try to balance things out with some exercise a few times a week to help keep sharp. Things like Boxing, Paddling and Weight Training.
Q2. Nice. How long have you been crypto trading, and how did you learn to trade?
When I started in 2013, I had no idea what I was doing. It wasn’t until after the 2017–2018 cycle that I decided to actually start learning some baseline fundamentals.
My journey started out with some random Trading courses to learn the fundamentals. From there I did a lot of self-exploration into different methodologies until I found something that fit with my lifestyle.
Q3. Do you trade any assets besides crypto?
Yes, I trade commodities.
Q4. How much of your investment portfolio is allocated to crypto?
Q5. I can see on https://aluna.social/magnus you have 100% allocated to BTC, do you trade ALTs or just BTC?
The large allocation towards BTC is largely due to the account being linked to BitMEX.
I trade various alts but mainly stick towards the larger cap coins. I don’t usually venture too far beyond the top 20.
Q6. Tell us about your crypto trading strategy and what is it focused on?
I’m more of a Trend Trader. I prefer to trade-off of the 1D charts. I feel there is a lot less noise and find having longer-term trades is something that is more suitable for my lifestyle. In the past, I traded on vastly smaller timeframes and really didn’t like being chained to my desk to constantly monitor trades.
Q7. How much do you generally risk per trade and how do you decide on the position size?
I like to keep things fairly simple, I generally stick to 2–5% of my trading stack per position. With discretionary shitcoin plays, I will make that size even smaller. It’s about staying in the game to play and ensuring not to get wiped out.
Q8. How do you exit your positions? Do you move your stops, or have take-profits set before, etc.?
Once I’ve entered a position and the trend moves in my favor, I’ll generally place a stop as the trade progresses. I try to give the trade room for some variance but the stop is to try to lock in profits.
Q9. What indicators do you use and timeframes?
I use a bunch. A lot of moving averages. ATR for volatility. Experimenting with a lot of other indicators atm. I try not to overcomplicate things.
In terms of time frames. Daily, 4H, and 1H.
Q10. Do you have any specific targets this year? How do you plan to achieve these goals?
Try to stay in the Top 5 of the Aluna leaderboard!
I think the key to achieving that long-term goal is making sure to stay disciplined and stick to my trading plan.
Always have a trading plan. Learn to remove emotions from your plays and know when to stop trading. It’s ok to just sit on your hands and wait.
Q11. Awesome. What advice would you give to new traders?
Try to make some trading friends that you can discuss strategies with. Bounce ideas off of each other. Helps keep you honest and know when you’re getting too euphoric.
Alpha Leak: Try to study some of the charts of good trades from the many profiles on Aluna and try to deconstruct the rationale behind it all. Follow their Twitter accounts too! Have come across a lot of alpha on Crypto Twitter! @onemanatatime is a good one.
Q12. What is your exit strategy for “the end of the bull market”? Do you think we reached the top of this bull run already?
I’m a Crypto degen for life! 😂
But if I was to have some sort of endpoint goal. I’d try to grow a sizable enough stack to deploy into various Defi protocols. I’d use the yields to pay for a lengthy vacation while I wait for the next cycle.
In terms of the current market, I am really hoping for this run to extend further. At present, I am not making any large conviction plays. Need more information to make a solid trade.
Q13. Drop one alpha please!
On-chain analytics is your friend.
Learn to use Etherscan. Follow the whales and what they do.
Aluna helps with that as well since you can see other traders' entries and exits.
Q14. And the last question… how has your experience with Aluna been, and would you recommend Aluna.Social to others?
The platform has been great. I refer a number of friends onto the platform to see what it’s all about. Am excited about the copy trade functions!
A big thanks to Magnus for dropping some insights! You can check out Magnus’ performance and follow him here.
Missed Episode 1 of “Trading Crypto to the Moon”? Check it out here.
Stay tuned for “Crypto Trading to the Moon” Episode 3, coming soon!
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