Andrea Unger: “Be More User-Friendly”

Be More User-Friendly. These days, a lot of people are getting into trading cryptocurrencies. It shouldn’t be so confusing. Think of it as walking into a giant store that has everything — food, shoes, clothes — but you don’t know where to find anything and it’s huge so it will take time to find what you need. That’s what […]

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Be More User-Friendly. These days, a lot of people are getting into trading cryptocurrencies. It shouldn’t be so confusing. Think of it as walking into a giant store that has everything — food, shoes, clothes — but you don’t know where to find anything and it’s huge so it will take time to find what you need. That’s what it’s like right now. We need to bring it down to a level that most people can understand.


As part of my series about the “5 Things That Can Be Done To Improve and Reform The Cryptocurrency Industry” I had the pleasure of interviewing Andrea Unger.

Andrea Unger is a full-time professional trader, President of The Unger Academy and author of The Unger Method. Andrea is the only Four-Time World Trading Champion (2008, 2009, 2010, and 2012), he’s an honorary member of SIAT (Italian Society of Technical Analysis, a branch of IFTA) and speaks throughout Europe, America, Australia and Asia. Learn more on his website or connect with him on Facebook @AndreaUngerOfficial or Instagram @unger_academy.


Thank you so much for doing this with us! Our readers would love to “get to know you” a bit more. Can you tell us a bit about your “backstory”?

I got into the investing world in 1997. I knew nothing about trading. Who would have guessed that 15 years later I would have 4 World Cup Trading Championships® under my belt?

When I decided to buy my first stocks, it was just a way to make some extra money. I felt well prepared, but I encountered many difficulties over the years. In the beginning, like a lot of people, I was lucky. I made some money, but then I started losing. Over the next couple of years I continued to trade and follow the advice of friends. And I did experience success until I faced my first bear market.

At the time I wasn’t familiar with the concept of stop loss. By the time I closed my positions out of desperation, much of the capital that I had invested three years before was wiped out. I realized that if I wanted to be successful, I had to educate myself. I became obsessed with fundamental analysis and technical analysis, thinking that they would be the key to my success. But once again, I had some success, but it didn’t last long. I couldn’t figure out what I was doing wrong, but I also wasn’t ready to give up.

The turning point came when I realized that there is a way of trading that is compatible with my scientific mindset. With algorithmic trading, I could measure the markets, and simulate trades in order to understand how we were moving. This allowed me to take a scientific approach, gathering data and measuring if things were going the right way once my strategies were aligned.

By measuring what was happening on the markets, this method gave me some specific information on which to base my decisions. This gave me the ability to read the markets and turn what I learned into numbers. It gave me a competitive advantage over other traders.

Can you tell us the story of how you got first involved in blockchain and the cryptocurrency industry?

I actually just started trading cryptocurrencies. They’ve been around since about 2008, but because they are relatively new, there was no history of data for me to study. As an automated trader, I needed the information to make informed decisions with my trading. Only recently we got enough historical data to study the markets effectively and we also got the solution to the technological gap to automatically send orders to the markets.

Blockchain is a great tool not only for cryptocurrencies, but a tool that made us realize the world could be controlled in an effective way through software. It should be used for security applications in other fields, not just in cryptocurrencies.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

I know more about trading than most of my friends. However, when I first got into automated trading, I had a friend who helped me set up a simple system for trading. It was basically the foundation for The Unger Method. Without his help, I wouldn’t be where I am today.

Can you share a story of a time when things went south for you? What kept you going and helped you to overcome those times?

Back when I still did not have a clear idea of what to do in the markets, I played around with some specific instruments, sort of options, and I did make money. There was a period of time when these instruments were quoting strangely and my approach was no longer effective, so I tried to change techniques and I started scalping stocks. At first I made some money, and then one day I completely lost control. The market went crazy and so did my trading which resulted in me losing a lot of money compared to what I was making by then. I flattened my positions, stood up and went to the bathroom to refresh.

I felt destroyed. I had failed at everything I was dreaming of. I took a rest and tried to come back to the right feeling and mindset. I understood I had to think positively and increase my effort, invest more time, and study more. I just had to adopt an “I can” attitude to keep going.

In your experience, what are the top strategies that blockchain companies should consider to have a stronger competitive edge?

From my perspective, I believe that the most important strategy for blockchain companies should be messaging and simplification. There should be more communication about the advantages of blockchain in a better and simpler way. The communication needs to be clear and understandable for everyday people. We need tools that are easy to use.

What are the 3 things that most excite you about the blockchain industry in general? Why?

  • Opportunity. This is a relatively new industry and it is growing fast. It’s a great land of opportunities for investors.
  • Exploring new technology. The way the blockchain industry is structured is fascinating and I believe more development is on its way to further improve the existing scenario.
  • Curiosity in a new industry. Curiosity is really the main driver. It’s a strange world that’s not strictly and only focused on money. The blockchain industry covers different aspects and drives imagination for investors to explore it in depth.

What are the 3 things that worry you about the blockchain industry? Why?

  • It’s “revolutionary” reputation. I’m afraid of what could happen in the industry if they try to be too revolutionary because if you imagine they did such a huge thing and created money from nothing. This money increased it’s value in an incredible way. It’s incredible but sometimes I fear we could lose control of this. The lack of direction frightens me.
  • Security. Blockchain was created to be one of the safest things out there to trace. But there are so many players out there now that it’s hard to have a clear picture of what the safest place should be. There are so many brokers out there with scams, so I fear that something like this could happen in the cryptocurrency industry.
  • The explosion and confusion this is creating. All the options out there and information creates a headache in those that want to approach it but are not completely educated about everything.

Ok, thank you for all of that. Here is the main question of our interview. Can you please share “5 Things That Can Be Done To Improve and Reform The Cryptocurrency Industry”? If you can please share a story or example for each.

  1. Communication at a level that everyone can understand. I believe that there should be more communication about the advantages of blockchain in a better and simpler way. If there is communication, it’s just technical and complicated and most people can’t understand it and maybe are afraid. It should clearly communicate what is going on, why and to what advantage.
  2. Provide a Cleaner Interface. Everything should be easy to access and simple to use without too many complicated workarounds. A clear website where you can clearly know what to do and what to be aware of. The crypto world needs to be accessible and easy to use. We need apps and websites with clear instructions and user friendly interfaces.
  3. Cooperate with the current system. The blockchain industry should be more cooperative with institutions. I believe that the feeling of a cryptocurrency revolution may frighten the system. It should be important to be as open as possible and be as transparent as possible in all the parts that might stir the current monetary system. There isn’t a war, but of course there is still some reluctance to go in that direction because they believe it could be disappearing because the current market will block it or change it.
  4. Address all security issues. More needs to be done to regulate it and keep the scams out, especially as the popularity is exploding.
  5. Be More User-Friendly. These days, a lot of people are getting into trading cryptocurrencies. It shouldn’t be so confusing. Think of it as walking into a giant store that has everything — food, shoes, clothes — but you don’t know where to find anything and it’s huge so it will take time to find what you need. That’s what it’s like right now. We need to bring it down to a level that most people can understand.

How have you used your success to bring goodness to the world? Can you share a story?

I believe that my attitude of trying to break people from the confusion of entering the financial world and instead building their awareness and drilling in the necessity of studying the markets has hopefully kept some people from losing everything. In the markets, it can be easy to throw money out of the window and I’ve heard many sad stories. I hope my transparency has helped people.

How can our readers further follow your work online?

Visit me online at https://ungeracademy.com or connect with me on Facebook @AndreaUngerOfficial or Instagram @unger_academy.

Thank you so much for this. This was very enlightening!

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