Hi Luc,
First of all, thank you so much for teaching us your ways of trading.
I'm studying it very thouroughly and have tested it without money first and found that it is indeed an effective strategy. I've had a little experience with trading in the past but wasn't succesful, your way of trading really makes sense to me. I'm very grateful for you that you're sharing this with us.
Before I really begin this journey though, I would like to focus on the security part of it all. I've got the security part covered on my end, although I still worry about exchanges. It seems normal that once in a while an exchange gets hacked and that you can lose your funds, even though you had all the security measures in place, like for example two-factor-authentication.
Do you or anyone in this great community has any tips on how to reduce the risk of losing your funds on an exhange? I was thinking about spreading my funds over 5 or even 10 exhanges, because the change is a lot smaller that they all get hacked. I know about the security features that exchanges offer for your account, I'm just wondering if there's any particular strategy that can reduce this risk of losing your earnings on exchanges.
Btw, do you leave your funds on the exchanges? Or just a portion of it? Because I know you generally don't put more than 10 or 20% of your total holdings in one single trade. Thanks a lot!
Hi mate, I used to have the same thoughts, My way of doing it, money spread thru exchanges and plus get a wallet like ( trezor, ledger) keep money for trading in exchanges and transfer some profits to the offline wallet when you want to trade from offline wallet to exchange after profit back to offline wallet
Hi man, thanks for replying. So every time you begin your day with trading, you transfer all of your funds from offline wallet to exchange? And after you're done for the day you transfer it back to the offline wallet? That seems like a lot of hassle if you trade everyday, not sure if I understand it right tho.