VANCE SKENE
VANCE SKENE
ABOUT VANCE
Lead Trader & Technical Analyst
From Melbourne, Australia
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December 2018
Interview with
VANCE
JOHN
How did you first learn about Cryptocurrency?
Through some of my circles of influence, I was hearing about Bitcoin in 2010 however it wasn’t until about a year later that I really started to look for more information about it.
How did you first get into trading? Was it through Cryptocurrency?
I was paper-trading in high school through a ‘fake stock market’ software; however it wasn’t until 2008/2009 when global markets were largely reset that I had the opportunity to really start investing as a serious future growth opportunity
Was trading an instant success for you?
Far from it! I was fortunate enough to have some guidance from more people who had experience in trading; however my youthful attitude far outweighed by experience and my first attempt resulted in burning through a large part of my capital in a short period of time.
Yikes! That doesn’t sound fun, but falling prey to a scam or experiencing high losses is a common experience for new traders. How did you get back on your feet and not get discouraged?
I just needed to change my thought process on trading. At the time; I was looking for as many winners as possible and trying to quit the working life. When I slowed down and thought about the long term objectives; I was able to add a lot more patience into my trading strategy.
What have been your best and worst trades so far?
Specifically in the crypto space; I had found a little ‘hole-in-the-wall’ style exchange that was significantly undervaluing a trade I had been in. I spent the next 6 hours arbitraging across 3 separate platforms and made a 6x increase in my position size for no additional capital investment. My trades alone accounted for about a third of their total trading volume that day! My worst trade is actually a non-trade call I made; being that I did not expect EOS to outperform Ethereum. Not only was that call wrong; however Ethereum has also failed to hold support this year.
How does your background make you unique?
I come from a numbers orientated profession; and also have a background in IT. I spend the months leading into fantasy football building models to ensure my draft picks are going to peform at their optimal; and I forward project our household budgets to ensure we are being consistent with our goals. I love data, and I believe that gives me an edge in trading.
What advice do you have for someone who wants to get involved in cryptocurrency?
From an investment viewpoint; do your fundamental research on what and who you are investing in. In the 2017 peak, people invested billions of dollars into ICOs – some of which were 1 or 2 teenagers operating out of their bedroom. Is that an investment you would make in any other situation? If not, then it needs to be reconsidered.
From a trading viewpoint; risk management will always be the answer. There are always stories of people who overleveraged and it worked out and they made huge amounts of money. However the ones who lose tend to remain quiet about that fact. It’s human nature; we like to put our best side forward. Always keep the long-term in mind; and aim to be the last person with money left at the end of the game!
In terms of the work you do, what aspects are you most passionate about and why?
I love when analysis plays out as projected. In forecasting and analytics, you are always building in tolerances as guardrails for where your numbers could end up. That’s because life is random and any number of things can change an outcome. However, when everything falls into place and the results are exactly where you projected – that’s something special.
What do you consider some of your biggest professional and personal accomplishments? How did your attributes contribute to those accomplishments?
Professionally, it’s an easy answer. I implemented a modeling output that offset my entire salary (for my tenure at the company) via 12 months of reduced capital expenses, as well as significantly improved projection accuracy. On a personal level, getting married was easily my biggest accomplishment. The downside of always looking long-term in life is that you often can’t see the forest for the trees. I am fortunate enough to have someone who can bring me back into the moment when needed.
What do you like to do outside of trading and running Moon Rocket Capital?
I enjoy watching most types of football (Australia – AFL, American – NFL, and European – EPL). When I need to unwind I like video games; however even then I tend to lean towards management/strategy style games!