11 Mar - 17 Mar3.4BTC Giveaway, see @Pumper_ryan for detailsTotal return: 101%
Coins: XBS
People always wonder why they lose consistently in the markets... they wonder why, despite whichever course of action they take, all that seems to happen is for their entire trading fund to be consumed.
You have to understand that although the great majority of participants in the crypto markets are ‘hobbyists,’ in the background, there exists a small segment of professionals who deal in altcoins on a constant basis.
XBS
Whilst hobbyist traders may trade, at maximum, a few days out of the month...
professionals are constantly playing the game. Professionals are constantly improving. Professionals are constantly boosting their skills. Professionals are constantly buying and selling.
With every passing month, professional altcoin traders gain more ground – therefore they are able to effect change across the entire market, with very little effort.
It’s simple logistics. Hobbyist traders trade for leisure, professional altcoin traders play the markets for profit... and if you haven’t realised it yet, the professional altcoin trader derives 100% of his profits directly out pockets of hobbyists and amateurs.
I have made it a point to speak with novice traders, just to get a feel for the way they think and to understand how they apply their thoughts to the market, and what I have found is quite interesting.
I have found that novices and hobbyist traders make up 100% of market fatalities simply because these types of traders fail to define what their role is in the crypto market, and so their roles are defined for them by the professionals.
Personally I understand that my success in this market depends on the oldest commercial technique in the world, simply:
I buy at wholesale and then sell at retail.
Clearly I don’t deal in tangibles. My inventory occupies no space in some display shelf, it is rarely if ever seen by the consumer, and it has no inherent usefulness.
Simply, I am a buyer and seller of digital currencies. My objective is to buy at distress prices before a change in perspective creates a more aggressive demand for my merchandise.
In order to buy coins cheaply, I must be willing to bid for them when the competition is feeble – which makes exchanges like Bittrex the equivalent of an auction house. Therefore, when a coin is in strong demand, the bidding is competitive and prices can move up with startling volatility.
When a particular coin gains popularity, those of us who bought early and cheaply, and then waited patiently, can sell at considerably higher “retail” prices.
That is how I describe my own role in the altcoin market.
As I mentioned previously, novice traders make up 100% of market fatalities because they fail to define what their role is in this market, and so their roles are defined for them by the professionals.
Simply put, in the altcoin market, novice traders are the cash cows.
The market has been laced with so many pitfalls and traps, and novice traders are guaranteed to slip and fall into each and every one of them.
You see, hobbyists and novices are all playing this market with the same strategy – little do they know, that strategy was designed to FORCE them into buying when they should actually be selling or staying out – to FORCE them into selling when they should be holding or buying.
Being skilled simply means that not only do you understand this deception that is being carried out on novices, but that you use it to your advantage
Daily Tip
Even when he is executing buys in some coin because it has gained 200% in one day and has a 150BTC 24hr trading volume, a novice trader will swear that all he does is “the opposite of everyone else.”
Guys, not only is there a ‘cause’ for price movement there is a ‘recipe’ for price movement, and each month there is a small group that cooks up mind boggling profits again and again...
There is an abundance of profit to be had in the altcoin market – in fact, the potential is unlimited. There is so much money flowing into this market that all you have to do is redirect some of it into your own court.
If you wish grab your own share in this profit, then you have to smarten up and understand that, strategy is the most important element.
Those who trade without a strategy are setting themselves up for failure
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.
