In our first episode of WOO X Masterclass, learn how you can get started with customizing your trading workspace and UI on WOO X to fit your trading needs. Featuring WOO X Ambassador, RunnerXBT.
To know a little bit more about RunnerXBT, below is a question-and-answer derived from his https://runnerxbt.notion.site/, reworded.
Where do you get news?
From various sources, such as my own Twitter list, MadWards Discord, DB, Tree of Alpha, or Hyuk. “By the time you are reading something on Twitter, you are professionals News traders exit liquidity. Every second counts and your connection, CPU, and latency are key.”
Do you have enough experience to act on the news?
Many of the signals are highly automated, and your chances of gaining an edge in trading are slim if you're not already involved. In other words, the competition is tough. For example, on February 19th, amid crypto Twitter speculation, CZ's mention of Binance increasing its stake in Tokocrypto led to a 10.6% price surge in just 15 seconds.
How to execute a trading idea?
There are types of news, which take long seconds or even a full minute to give you somewhat of a decent entry to act on. I am specifically talking about current bear market conditions when liquidity is not really there and it is a true PvP (player-versus-player) market. In those “slow” examples you can easily do it from a phone while you are in the gym browsing Twitter.
What to keep in mind as a rookie trader?
Ensure funds are on the exchange, considering counterparty risk. Be cautious of high leverage on new pairs in some exchanges. Selectively enable notifications on Twitter and Discord. Seek ways to trade more efficiently for faster execution.
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