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1. Who is @CryptoChoe?

Hi there! My name is Eric Choe and I am currently a swing-trader for mainly FX and cryptocurrency.

A little bit of background on myself: I graduated back in 2016 from university with honors in economics and a focus in econometrics/statistical analysis. I started trading Forex back in 2012 right after the recovery of the U.S. financial system. It wasn’t until late 2017 where I first started to trade cryptocurrency. I actually started as a corporate financial analyst at one of the largest retail energy companies in the U.S right after I graduated. After a short period of time, I transitioned into a well-known consulting firm thereafter. It wasn’t until a two weeks ago where I finally had saved enough money in reserves that I could pursue trading full-time.

If I had to describe myself, I would say I am definitely an academic. I am truly passionate about learning. Outside of my professional life, you can always find me on the lookout for the newest restaurant in town, traveling to the next destination on my checklist of places to visit, or staying fit and making time for family and friends.

2. What your first week of crypto looked like?

It was definitely scary. The most skeptical part about my first experience with cryptocurrency was the set-up phase. Setting up accounts on what I believed to be sketchy exchanges that were asking for pictures of my credit cards with my face in it — I thought that was extremely odd. Also, understanding wallet addresses, deposits and withdrawals procedures, different coins, etc., It was definitely a big learning curve in the beginning. But after the first few days of settling in, things started to pick up.

I think what really stood out to me was how parabolic the cryptocurrency market was when I first started trading. At one point of time, you could throw money at any coin and it would return some kind of gain in investment. That’s where we saw a lot of new faces and growth in the crypto-community,

3. You average +70 tweets/day, don’t you work/sleep/family/friends/exercise?

There’s never enough time in the day. I think it’s super important to be organized — especially when you’re trading, handling a large following, as well as, keeping balance between friends and family.

I usually spend the entire morning trading to hit my daily target goal. After, I spend the entire afternoon updating charts and engaging with my followers, and finally I try to spend the most time with my loved ones on the weekends.

I also recommend everyone to have alerts on their phones via TradingView. It’s the only way to have a life outside of my desktop.

You polarize crypto-Twitter-community:
4. What was your game-plan to achieve such fast success?

To be honest, there was no game plan coming onto Twitter — everything just happened so fast. In such a volatile market like cryptocurrency, I think the way I analyzed in a technical aspect brought logic and sense into an unknown territory for a lot of new folks in cryptocurrency.

Before I joined, there weren’t a lot of technical analysts on Twitter besides a few experienced traders. The crypto-twitter personalities were mostly involved in circumventing stories of recent news and retweeting price predictions when I first joined.

So bringing a different and unique trading theory like Elliot Wave I think helped me gain exposure quickly. Nowadays, I look around and a ton of folks are starting to practice Elliot Wave. I see charts everywhere now.

I’m happy to have been one of the very few to bring more technical analysis into crypto where it’s clear, understandable, and most importantly, novice-friendly.

5. How your execution differed from your plan? Some say you bought followers, that you made shit calls in January (don’t we all), 401K tweet…

I try to keep the drama out of my everyday lifestyle. But to address your point, no I have never bought followers. Like I’ve previously mentioned, I think my ability to really provide the value people are looking for helped me grow at such a quick rate.

In late 2017, everyone was literally jumping into crypto — demand, accurate analysis, and easy-to-comprehend materials really paved the way for me.

In regards to “calls” — I hate this word. I don’t make calls, I analyze. I think a lot of people are starting to understand this and I’m extremely happy that we’re all growing as a community. My followers have been well-educated and understand the differences between calling and analyzing.

6. What have you learned from these 4 months in crypto-twitter?

It’s chaotic, full of emotions, and 24/7. I truly love the fact that a trader has the opportunity to make money 24/7. However, you can lose yourself in cryptocurrency if you’re not careful.

There’s drama on social media and it’s a high intensity game of buyers vs. sellers. I learned that if I don’t take a break, you get burnt out. So I try to live drama-free, respect everyone, and have some laughs along the way.

7. Gold or Silver?

It’s all about the Gold.

8. Bitcoin or BCash?

Bitcoin — there’s only one King. It made a lot of people rich and will continue to do so.

9. Your favorite crypto personality? What you learned from him/her?

I have 3 in alphabetical order:

1. AltOne_Crypto: the rising-star in detailed analysis and Elliot wave theory. I truly admire Johnny as he provides multiple scenarios in real-time. One of the best at explaining to others in a user-friendly manner and a truly exceptional human-being. I try to make sure I get Johnny’s opinion every time before making haste swing trades.

2. BigCheds: the master of understanding support and resistances. He knows when the next price action will occur before everyone. Cheds has made me a lot of money and someone I always enjoy conversing during periods of indecision.

3. Philakone: the legend of Elliot waves and fibonacci. Phil was the first trader I came across on Twitter that used Elliot wave theory like me. He’s the best I know in day-trading and an amazing friend. He’s the guy you go to if you want to learn, make money, and laugh.

10. How will crypto dominance look like from now on to 2020? Will BTC crush alts or vice versa?

I have a very bullish outlook for BTC. I believe BTC has the possibility to rise to $25,000. However, this is based on just technical analysis. To view a coin that far ahead is very difficult and nearly impossible so take my analysis with a grain of salt.

In regards to alt-coins, I do believe like every emerging technology, there will be coins of the future that will replace coins of the past. Currently, I do believe it’s a highly oversaturated market. 95% — 99% of these coins will be obsolete in the future.

11. How you come to the decision to enter a trade, example?

I’m a long-biased position trader. So I try and look for set-up’s that are more leaning towards the bullish trend — it’s very difficult trading against a bearish trend for me.

Therefore, I first identify a bullish trend. This can occur on any time-frame, as long as a bullish breakout to the upside occurs. I know this is the start of a new bullish trend.

Secondly, I usually wait for a pull-back (or retracement) of a bullish outbreak. Using Elliot Wave and Fibonnaci Theory, I can theortically decipher and play probabilities on where I believe a pull-back to a certain price-level will likely retrace too.

Thirdly, I normally use indicators like the relative strength index and histograms to understand momentum and the psychology of the market. I use support levels and resistance levels to understand the swing-lows and swing-highs to pinpoint my target ranges to enter a trade and/or take my profits. All these techniques help me paint a picture of a decent entry of a trade to maximize my reward and lower my risk.

12. How you come to the decision to exit a trade, example?

I use the same Elliot Wave and Fibonnaci theory coupled with indicators that provide insight on the momentum and psychology of the market. The most important advice I have to give when exiting a trade is you do not need to take profits at the very top. It’s okay if you miss 1% or 2% from the swing-high position.

13. Who will be Bitcoin legitimate contender?

Litecoin — I think Bitcoin has laid the foundation for other coins to continue to revolutionize the cryptocurrency space. It paves the way for faster, cheaper, and more scalable coins like a Litecoin.

14. Top 5 mistakes in crypto that will lose you shitload of money?

a. Security — working on online exchanges we are continuously targeted by hackers. Thousands of dollars can be lost without proper security measures.

b. Assumptions — just because it looks oversold, doesn’t mean it is oversold.

c. News — technical analysis cannot accurately account for news. We may believe a price holds steady at a certain level — however, if the U.S. bans Bitcoin out-of-nowhere, there’s no analysis that can account for this movement in real-time accurately.

d. Relying on others — I believe it’s very important to collect thoughts from multiple sources before forming your own story of what you believe can occur. Soley relying on one source can get you in trouble when you’re not doing your own research.

e. Risk Management — every trade we enter has a certain risk to reward scenario. Making sure the price we’re targeting is sensible in terms of risk is key to becoming a successful trader. If we enter a trade without understanding the lower and upper bounds of both bullish and bearish sentiment, there’s no strategy behind a trader’s swing opportunity.

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https://twitter.com/CryptoChoe/status/976332029888430081

Got to give it to @CryptoChoe, has conquered major influx of newcomers to crypto by teaching TA in a simple way, what most of us can't explain simply.

I feel Eric was the typical kid in college I used to love to hate, straight A’s, an extrovert (unlike typical geeks), good guy, which I ended up being good friends with because he took the time to explain to me Thermodynamics subjects when I needed to get an A on the final exam to pass the class.

If you enjoy the read, follow me on Twitter, and use my referral links:

Binance, Bitmax, Bitmex, Bybit, Kucoin

Is good for Karma!

Written by

₿itcoin, tech innovation, drones. Industrial engineer by education, marketing degenerate by profession. twitter.com/Panama_TJ

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