13 Feb - 09 MarTotal return: 114%
Coins: XMR
The aim of the game is to draw more money from this market than you can ever put into it. For some, not only is this an ‘aim,’ it is a daily reality.
XMR
The modus operandi of each trader in the altcoin market is to make money on a continuous basis. Some traders never accomplish this,
whilst other traders are able to gain profits that become increasingly larger with each passing month.
This begs an obvious question: how can one person consistently lose money, in the same market that another person is consistently making money?
Simply, the answer to this is: The person who is making money consistently is profiting as a direct result of another traders loss. This profitable trader has a complete understanding of
how people ‘lose money’ in the altcoin market, and so he puts himself in position for that money to be lost to him.
It’s a very simple strategy that anyone can employ for themselves.
You see, people will dedicate hundreds of hours toward finding out how to ‘make’ money from trading altcoins... I always tell members that the quickest way to make money, is to understand how people ‘lose’ money – that way, you can be there to score a quick profit every time a novice trader makes a mistake.
And believe me when I tell you,
novice traders make more than a thousand mistakes on a daily basis – so rest assured, this is a highly profitable venture.
Just give it a spin. Spend one week talking to your fellow traders... ask them about their losses, tell them to explain what made them buy into the coin, what happened after they bought and then ask what made them decide to sell... You could even use a notebook to keep record of the characteristics of your own losses – once you have done this, you will have the answer that will unlock the floodgates allowing consistent profits to flow.
I tell people all the time, there is no intricacies when it comes to making money from altcoins. There is no ‘big secret’ that is used to extract profits from the market. In fact,
your greatest weapon is common sense...
... I mean, clearly, in order to profit – you must buy something when it is cheap, and then sell when it becomes expensive.
However, the vast majority of traders in the crypto market has been conditioned to view ‘cheap’ as “dead,” “dying,” “scam,” etc – therefore they freeze themselves out of all the most profitable opportunities that exist in the market, this allows skilled players to ‘get there first,’ over, and over again.
Just ask yourself, how many coins did you sell because they were labelled as being a “scam,” only to then see that same coin shoot up by more than 100% in value? How many times have you avoided a coin, because it was being labelled as “dead,” only for that same coin to spring back into action and advance by more than 100%?
Clearly there is a game being played here, and if you have been consistently losing in this market, it’s because you aren’t aware of the rules of the game.
You are told to only buy coins with huge amounts of “buy support”... when actually, buy support is merely a support system to allow large holders to exit a coin quickly, and with substantial profits. Just ask yourself, how many times have you bought into a coin because you saw “good support” – only for that same coin to then quickly decline in value by more than -50% almost immediately after you bought in?
There is a game being played, and if you have been consistently losing in this market, it’s because you aren’t aware of the rules of the game.
In the altcoin market,
conventional wisdom is the bait that lures the lamb directly into the slaughterhouse.
You must realise that more than 90% of participants in the crypto markets are following these exact rules that I mentioned above, thus, 90% of crypto traders lose money consistently because this conventional wisdom wasn’t designed to allow ‘everyone’ to profit, it was designed to allow the skilled few to profit – because they are on the opposing end of every losing trade that occurs in this market.
Going back to my earlier statement: “the quickest way to make money, is to understand how people lose money – that way, you can be there to score a quick profit every time a novice trader makes a mistake.”
Conventional wisdom is the bait that will bring the lamb – but if you are to profit from this, you MUST be there to slaughter the lamb when they arrive.
That is how you make money in the altcoin market.
Daily Tip
If you were to spend 10 minutes (probably the most I can stomach) reading through the numerous irrelevant posts made in the altcoin section of this forum, you will very quickly realise that 90% of participants in this market are conditioned to think in an emotional manner in general. Literally, everything they do or say initiates from some emotional feeling, rather than due to any logical reasoning.
Not only that, but they are also impulsive... again, spend 10 minutes (if you can bare it) reading through some of the posts in the altcoin section, count the amount of random outbursts and keyboard arguments that you come across.
Literally, in general, trading attracts these kinds of impulsive, emotional and erratic characters. Which is what makes trading such a profitable endeavour – once you realise how the game is played.
I’m not an advocate of conventional wisdom at all – but the one rule that rings true, in any arena of commerce, is “when trading, emotions will ‘force’ you to lose.”
Remember I stated above: “the quickest way to make money, is to understand how people lose money – that way, you can be there to score a quick profit every time a novice trader makes a mistake.”
You see this runs very deep, simply because there are skilled players that understand how to elicit emotions from participants in this market – in order to cause or effect change in a particular coins trading environment.
“Guys, this coin is a scam... dump it!”... “People, this coin is dead.. avoid”
“BUY NOW, before it’s too late... easy x2 profit before Wednesday,” ... “get ready, we are going to the moon”
All of these statements are actually emotional appeals, to force amateur players into doing whatever the issuer of the statement wants them to do – and believe me, these amateurs ‘will’ do it, and in their masses too.
Those who are logical profit because of this, week in and week out.
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.
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