Total return: 383%
Coins: 8BIT
People make it a habit to trade this market with small amounts such as 0.2BTC. This is a complete waste of your time, because when you trade small – your gains will also be small and trivial.
In order to rake in those gargantuan double digit BTC pay days, that many people achieve so frequently in this market, you must increase the stake that you’re bringing to the table.
8BIT
Always play for meaningful stakes
“Only bet what you can afford to lose,” says the old bromide. You hear it in Las Vegas, on Wall Street, and wherever people risk money to get more money. You read it in books of investment and money management advice by conventional counsellors. It is repeated so often and in so many places that it has taken on an aura of truth through assertion.
But, you should study it with the greatest care before making it a part of your speculative toolkit.
As most people interpret it, it is a formula that almost assures poor results.
Whats an amount that you can “afford to lose?” Most would define it as “an amount which, if I lose it, won’t hurt.” Or “an amount which, if I lose it, won’t make any significant difference in my general financial well-being.”
A buck or two, in other words. Twenty bucks. A few hundred. These are the kinds of amounts most people would consider loss-affordable. And as a result, these are the kinds of amounts most people trade the crypto markets with.
But consider this. If you bet $100 and double your money, you’re still poor.
The only way to beat the system is to play for meaningful stakes. This doesn’t mean you should bet amounts whose loss would bankrupt you, but it does mean you must get over the fear of being hurt.
If an amount is so small that its loss won’t make any significant difference, then it isn’t likely to bring you any significant gains either. You cannot win a big payoff from a small wager, that goes contrary to the laws of physics. Yet people attempt to do this all day long in crypto.
You see, taking anything less than a 0.5BTC trade is nothing more than a complete waste of time in this market, especially in the current bullish climate.
Left, right and centre there are coins producing 500%+ gains – yet people continue to pussy foot around on their tippy toes in fear of making trades using more than 0.2BTC.
Time and time again I make it clear to each and every person who enquires about making money in the altcoin market, if you want to win big, then you have to trade big. There are no shortcuts or hidden loopholes that will enable you to avoid this.
But there is one thing that is guaranteed.
The larger your trades are, you’ll all of a sudden start to rake money in at an alarmingly rapid pace. In terms of the sheer size of the profits you’ll be raking in, you’ll instantaneously leap frog over the common 0.1BTC traders in this market in favour of double digit BTC takings month after month.
This is the way the game is played, and the sooner you realise it – the sooner you’ll begin to claim your own portion of the wealth that is being created on a daily basis in this market.
Another thing I’d like to touch on is the incorrect notion that traders must “diversify.”
The theory of ‘diversification,’ is, for lack of a better term, absolute bullshit.
If you’d like to achieve success as a trader in this market, then you must resist the allure of diversification.
As used in the wider investment community, diversification means spreading your money around. Spreading it thin. Putting it into a lot of little speculations instead of a few big ones.
The idea is ‘safety.’ Basically, if six of your investments get nowhere, maybe six others will get somewhere. This is the rationale. In the litany of conventional investment advice, having a “diversified portfolio” is among the most revered of all financial goals.
The fact is that diversification, while reducing your risk, reduces by the same degree any hope you may have of striking it rich!
Let’s say you start with $5,000. You want to make it grow. So what are you going to do with it? The conventional wisdom states that you must diversify right? Which means you will make ten bets of $500 each so that you’re covered for all kinds of eventualities.
Makes you feel “safe” doesn’t it?
Safe from just about everything – including the danger of getting wealthy.
Diversification has two major flaws.
- It forces you to violate the concept of ‘only playing for meaningful stakes.’ If your entire starting capital is itself not very meaningful, diversifying is only going to make things worse. The more your diversify, the smaller your speculations get. As I mentioned earlier, a hefty gain on a small amount leaves you just about where you started: still poor.
- By diversifying, you create a situation in which gains and losses are likely to cancel each other out, leaving you exactly where you began – at point zero.
When you look at these flaws of diversification, and weigh them against its single advantage, safety, it begins not to look so good.
This is the cash rich phase of the crypto currency market. If you have been a participant for the last couple of months, then you will have heard the famous tales of CINNI pulling in thousands of BTC in volume, and AURORA doing the same. You will have heard the tales of how easy it was to make money during that period! Well, that was the last bull cycle, and months from now the entire market will be telling tales of CRAVE, TRON and 8BIT and the thousands of BTC that came pouring in to those markets - the only difference is you are in the right place, at the right time and able to take advantage of this year’s bull market.
There are hundreds of traders who are making bundles of money right now, because trading volume is at an abundance!
As I mentioned above, in a few months from now stories will be told on just how easy it was to make money from this year’s bull run - it's almost like picking money up from the floor!
Those who have adequately prepared themselves for this run stand to make an absolute fortune from those who have done nothing to position themselves to profit.
Daily Tip
You have to be aware that the crypto market is currently rife with cash, but also rife with amateurs and uninformed traders. This is why there is soo much money to be made because, one trader who wins – gets his profit from 100 traders who lost. This is the equivalent of 100 people depositing their money directly into the pocket of one trader – and it happens every single day in this market.
The one thing that separates a winning trader from a trader who can do nothing except to lose out repeatedly is information!
You have to be aware that the crypto market is currently rife with cash, but also rife with amateurs and uninformed traders. This is why there is soo much money to be made because, one trader who wins – gets his profit from 100 traders who lost. This is the equivalent of 100 people depositing their money directly into the pocket of one trader – and it happens every single day in this market.
The one thing that separates a winning trader from a trader who can do nothing except to lose out repeatedly is information!
SIDENOTE: You have to wait for optimal trading opportunities and resist the natural urge to trade more frequently. You must be willing to do nothing, absolutely nothing, until there is something to do. Personally, I just wait until there is money lying in the corner and all I have to do is to go over there and pick it up. In other words, until a trade is so obvious that it’s like picking money up off the floor – do nothing! Waiting for these ideal opportunities requires the patience to allow alot of non-optimal trades to pass by without participation. The message is: by avoiding non optimal trades, you will be able to increase your cumulative return tremendously – thus patience makes all the difference between a skilled and unskilled trader.
Note: BTC is a buy right now. Pay attention to the price and execute your buys at the low points.
Twitter: @Pumper_Ryan follow for daily picks, and updates.
