Professional trader and expert crypto analyst Josh Olszewicz reveals the secrets behind successful crypto trading — and explains why most traders end up losing money. Josh analyzes June's epic Bitcoin rally and identifies the technical indicators that signaled the bull run weeks in advance. Plus, he explains how he acquired the unique set of skills that make him one of the industry’s most respected analysts.
Guest: Josh Olszewicz
A popular crypto Twitter influencer and trader, Olszewicz says he never intended to be a full-time trader and that might have helped him succeed.
“I didn’t start out from the perspective of wanting it to completely take over my life and become my main source of income. I think that was a large part of my success. Some people get into this and they treat it as a casino, they see all of these people making thousands of dollars a day and they assume that they can just open up a Bitmex account and off they go. I was lucky as I started in a bear market so I lost money gracefully as I was learning, and then when the 2017 bull market hit things took off for me.”
Like all successful traders, Olszewicz has developed his own system using trial and error, and while he has become known for his expert knowledge of the Ichimoku Cloud, there are other lessons that apply to everyone.
“I’m always prepared from a risk management perspective. Even early on I knew that I shouldn’t be trading my entire stack every trade. I was keeping at least 50% in cold storage. You don’t want to keep everything on an exchange and then get hacked, you know, you can make millions of dollars, but if it gets hacked or it gets stolen and not reimbursed, that’s game over so you definitely want to mitigate against that.”
Olszewicz also writes weekly price analysis reports for Brave New Coin where he looks at Bitcoin or one of the top altcoins. His reports are a strong mix of fundamental, macro, and technical analysis. Each report includes fundamental blockchain metrics such as the current hash rate, the block reward difficulty, on-chain transactions, mempool data, and active wallet addresses. The reports include a chart based technical analysis breakdown along with commentary on any bullish or bearish macro events.
“I’m very visual so that helped as far as charts are concerned. I’ve learned trending strategies that have been really successful for crypto because Bitcoin likes the trend. I like basic chart patterns. The stuff I look at on a daily basis is pretty simple. I see all these traders looking at Elliott Waves and I just don’t have time to think that hard. I try to keep it black and white and just listen to what the indicators are telling me because historically they’ve done really well.”
We finish with another round of crypto hot takes in which Olszewicz makes several surprising admissions by outing himself as both a Lord of the Rings fan and a chaos maximalist planning for a dystopian future.
Josh’s Contributor Page on Brave New Coin
Toshimoku’s Trading Tips & Tricks