Hello I'm Pat,
Someone requested I make a thread so I'll expand on my crypto experience a little bit more for you guys. Basically, I created a trading robot and on boarded 8 investors over the past 2 years. Allow me to elaborate below after a quick intro.
I live in Nashville and have spent 9 years in the military. This has taught me discipline and structure, which I am grateful for. I read MFL in 2018 and ever since then, I've been a wantrepreneur, a guy chasing shiny deals, and a hopeless shortcut taker that spent thousands on trashy courses. Ya'll probably know.
So let's talk about crypto!
The first thing I did was create a test robot and did some paper trading for a few months in 2019. Everything was good and generally 0.30% - 1% profits can be achieved daily with a good bot. That's roughly 109%+ a year if you're doing it right. It's just not always consistent and sometimes you can get rekt - think back in May when the market crashed hard, this causes bots to be faked out with false signals of reversals.
Why did I want to do this? Well, I read 2 books. 1) Dark Pools - This encompasses algorithmic trading which started back in the early 1980s. 2) The Snowbell Effect - This is about Warren Buffett and his life story, how he got started. These inspired me to take a deeper look into the financial sector and try to create value like Buffett did. He had people drive across the U.S. just to give him money. Impressive.
What I found was banks protect their code and bots extremely well. Here is a story about a Chinese math prodigy stealing some code from Goldman Sachs. They got him the next day. Extremely protective. Clearly this is crazy profitable if you can crack the code.
Next I examined the markets,
Stock Market - trades M-F, 8 hours. Controlled by Wall St.
Forex - global currencies that trade sideways and a lot of weird hours. No thanks.
Crypto - 24/7 trading, volatile, and newish. Cool, perfect. Crypto let's go
Then I said, does it make CENTS?
Control - Yes I control the bot and have the knowledge
Entry - Tough to enter correctly
Need - People want higher returns than 8%/yr
Time - The bot trades all day according to rules
Scale - Just need more $$ to lower fees and increase gain
It passed! (At least from my perspective)
Next, I threw some money in and was off to the races. The bot was performing fairly well, I told some people about it and next thing you know I have people calling and texting me to get in. I wasn't very sure how to sell it or structure it. I met up with my lawyer and he said offer a subscription and so I went that route.
I created a google sheet, because it's free and made some awesome equations. I figured why not have the shares move dynamically instead of statically? So whenever someone comes in and buys/sells some shares, the sheet automatically calculates everything and this changes the shares outstanding but keep the current share price the same.
Next I created an app using glide apps and this turns a google sheet into a phone application. You just bookmark the page and add it to your home screen which enables you to launch it like a normal app you get off the app store. Every day I drop a new share price in for everyone and post updates.
And finally, I write a weekly crypto letter to everyone. I charge this package, or whatever the hell it is, as a service at $20 a month for a subscription. Kind of a weird business model but it works. So even if the crypto market tanks, I collect $20/mo from new users and investors. I'm still in the development stage and the crypto market has been brutal recently so our 300% returns got axed in May. I don't think I've ever had my a$$ kicked so hard but hey they are all still onboard and we are still rolling forward.
I have no idea what I'm creating or doing but I am going to keep adding new features and I'll eventually market it and get more folks on board but right now the market is choppy so be careful trading. Sideways is bad, at least for me.
Hopefully you guys got some cool tools or something out of this post. I'm not in the Fastlane yet, it's really hard. But I will not give up.
Pat
Someone requested I make a thread so I'll expand on my crypto experience a little bit more for you guys. Basically, I created a trading robot and on boarded 8 investors over the past 2 years. Allow me to elaborate below after a quick intro.
I live in Nashville and have spent 9 years in the military. This has taught me discipline and structure, which I am grateful for. I read MFL in 2018 and ever since then, I've been a wantrepreneur, a guy chasing shiny deals, and a hopeless shortcut taker that spent thousands on trashy courses. Ya'll probably know.
So let's talk about crypto!
The first thing I did was create a test robot and did some paper trading for a few months in 2019. Everything was good and generally 0.30% - 1% profits can be achieved daily with a good bot. That's roughly 109%+ a year if you're doing it right. It's just not always consistent and sometimes you can get rekt - think back in May when the market crashed hard, this causes bots to be faked out with false signals of reversals.
Why did I want to do this? Well, I read 2 books. 1) Dark Pools - This encompasses algorithmic trading which started back in the early 1980s. 2) The Snowbell Effect - This is about Warren Buffett and his life story, how he got started. These inspired me to take a deeper look into the financial sector and try to create value like Buffett did. He had people drive across the U.S. just to give him money. Impressive.
What I found was banks protect their code and bots extremely well. Here is a story about a Chinese math prodigy stealing some code from Goldman Sachs. They got him the next day. Extremely protective. Clearly this is crazy profitable if you can crack the code.
Next I examined the markets,
Forex - global currencies that trade sideways and a lot of weird hours. No thanks.
Crypto - 24/7 trading, volatile, and newish. Cool, perfect. Crypto let's go
Then I said, does it make CENTS?
Control - Yes I control the bot and have the knowledge
Entry - Tough to enter correctly
Need - People want higher returns than 8%/yr
Time - The bot trades all day according to rules
Scale - Just need more $$ to lower fees and increase gain
It passed! (At least from my perspective)
Next, I threw some money in and was off to the races. The bot was performing fairly well, I told some people about it and next thing you know I have people calling and texting me to get in. I wasn't very sure how to sell it or structure it. I met up with my lawyer and he said offer a subscription and so I went that route.
I created a google sheet, because it's free and made some awesome equations. I figured why not have the shares move dynamically instead of statically? So whenever someone comes in and buys/sells some shares, the sheet automatically calculates everything and this changes the shares outstanding but keep the current share price the same.
Next I created an app using glide apps and this turns a google sheet into a phone application. You just bookmark the page and add it to your home screen which enables you to launch it like a normal app you get off the app store. Every day I drop a new share price in for everyone and post updates.
And finally, I write a weekly crypto letter to everyone. I charge this package, or whatever the hell it is, as a service at $20 a month for a subscription. Kind of a weird business model but it works. So even if the crypto market tanks, I collect $20/mo from new users and investors. I'm still in the development stage and the crypto market has been brutal recently so our 300% returns got axed in May. I don't think I've ever had my a$$ kicked so hard but hey they are all still onboard and we are still rolling forward.
I have no idea what I'm creating or doing but I am going to keep adding new features and I'll eventually market it and get more folks on board but right now the market is choppy so be careful trading. Sideways is bad, at least for me.
Hopefully you guys got some cool tools or something out of this post. I'm not in the Fastlane yet, it's really hard. But I will not give up.
Pat
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