I was recently privileged to interview one of the most prolific cryptocurrency traders I know, and possibly in the world.

His name on Twitter is @oracleofcrypto and if you follow my blog, you'd know I interviewed him once before.

Well, I had a few more questions for him, so I hit him up some time last week. He had time yesterday, so we talked over telegram. 

While I was asking him a few questions that I needed answers to, he mentioned that he was able to turn $300 into $50000 in one year, and that he spent $30000 of that money on Bitcoin when it was $2000. He wasn't an early adopter that got Bitcoin when it was free. He just had a great idea for how to trade, and he capitalised on that idea.

Now, be didn't tell me his trading method, hard as I pressed. And to be honest, if I had discovered something like that, I would either put a really high price on it or not share it at all. Because if everyone starts doing it, then it becomes obsolete fast.

He however was willing to give advice for new traders on what to, and what not to do while trading cryptocurrencies. So let's get in.

Before I get started however, I'd like you to know that this post was made possible by Changelly. They are an instant cryptocurrency exchange that allows the exchange from one cryptocurrency to another in less than 10 minutes. They charge basically no fees, and are very reliable. Check them out here.

So he said that he started trading cryptocurrencies in 2014. He said that before then, he was a struggling trader in the stock market, until he created a method of trading that changed his life. It was this method that he ported over to cryptocurrencies.

After he had success turning $10000 into $100000 in the stock market in a year, he decided to invest into this crypto market that he had been hearing about for a while.

So he took only $300 from his bank account, and bought his first Bitcoin. He said that he didn't want to risk any more money than that, because of how volatile the market was.

He started off losing money, up to $50 because of  the volatility.

He then decided that a change in plan was required. He decided to try his trading method in the stock market on the crypto market. And it worked wonders.

That was just a small back story on how he made his money. Unfortunately, he didn't tell me his strategy, so I can't share that here. 

But he did give me tips, so here are some tips on how to become a better trader.

• Follow coins that explode regularly: Study their charts, their oscillations, their ranges and how often they explore. Study their average height of explosion, and check the volume of sells Vs buys within the explosion. Come up with a list of these coins. How do you find them? Simple. Go on to Binance and check the "gainers" section everyday. There are always coins that explode frequently there, and there's always a new coin everyday. Write them down and study them. You'd be amazed how much money you can make.
• Start small: Not $10 or $5 small, but don't start with $10000. Large position sizes when you're starting out would kill you quickly, because you won't be able to keep track of your winners and losers fast enough. He said to start with a maximum of $2000, and a minimum of $500 so you can actually see your gains.
• Cut your losers quick: If you've seen a coin not behaving the way it usually behaves, and is falling faster than usual, get out immediately. It's better to take a 2% loss today, than a 20% one next week.
• Position size is key: Don't throw all your money into one coin. Risking 1% like the pros say is way too small because of your account size, so risk whatever you're comfortable with. Just don't bet the farm on one trade, because it might not pay dividends in the end.
• Don't trade the major coins: They are heavily manipulated, and they hardly make big moves. Volatility should be your friend if you want to make money. You just have to be on the right side of the volatility. But don't trade shit coins either. Trade altcoins with a high volume(exceeding 100BTC or 800ETH)

And with those rules, a decent trading plan and patience, you should see success in the market sooner than you planned.

Thank you for reading this post. And you can check out the crypto oracle's twitter here. He replies DMs as long as they're not used as ways to beg for free crypto(what he said)