24 Jan - 26 JanTotal return: 164%
Coins: SBIT
In the crypto market, random price movement is an illusion. Nothing in this market occurs randomly. There are several recurring factors that appear over and over again. As a trader who wishes to establish consistent profitability, it is your job to be aware of these recurring elements and to use them to your advantage.
SBITIn this market, novice traders make the most critical error in assuming that price movement occurs at random. This is certainly not the case.
You see, prices will only begin to make high percentage upward moves when there is a high concentration of buying. In response to this buying action, sellers begin to lift their prices and if buyers are eager to get in – they will continue to purchase even though the price is actively increasing.
This is what causes prices to overshoot during rallies.
There is nothing random about this.
Every large, high percentage, price increase is preceded by a series of small buys – which turn into larger buys – which turn into even larger buys.
Literally, this is the process that unfolds before every single rally which makes the altcoin market very simple to exploit for profit.
Now, having said this, I must also explain that one of the most important elements that transpires before every major price lift – is a major price decline. In fact, the larger this decline in value – the better.
You see, skilled players in this market will agree - fortunes materialise during bull markets.
This is because when market-wide sentiment is bullish, participation increases, thus - daily trading volume increases, thus - profits increase.
However, in order to truly take advantage of this – it is necessary to do the bulk of your buying when the markets climate is exceedingly bearish.
Looking at this SBIT trade, my entire decision to buy was quite simple.
As you can see above, on Jan 3rd, SBIT was trading at a high of 38,732 Satoshi. It’s price then fell into decline before settling at 501 Satoshi on Jan 24th. That is an astounding -98% decline in value.
This is important because I knew that if I bought in, there was only a very minor -2% downside risk – whilst the upward potential was guaranteed to be 100%+. This trade was a no brainer.
SBIT still looks to be in good shape
If you want to achieve consistency, then all of your trades must be as simple and straightforward as this.
Tip:
Once you begin to look for these process that always precede high percentage price moves, you will begin to realise that absolutely nothing in this market happens “at random.” Everything in the altcoin markets happens for a reason. Once you key into this fact, your wins will begin to outweigh your losses. You will start to understand that there are certain coins that must be avoided at all costs, and also that there are certain coins that must be exploited at all costs.
SIDENOTE: You want to eliminate as many poor-percentage and high risk trades from your repertoire as possible. Once you have done this, you will see a dramatic boost in your overall profitability. Trading less and taking only the best-percentage trades are such an important part of pulling consistent wins. Ask yourself before each trade, “why am I taking this trade?” If you don’t have an answer – or can’t justify the answer, then skip the trade. To develop the mentality needed to win in Crypto, you must develop a high probability strategy. It is as simple as that. You must have the discipline to sit and wait for only the most optimal trades where all the factors of a bull run are lined up and painfully obvious. Only then should you be putting on a trade. Note: BTC is a buy right now. Pay attention to the price and execute your buys at the low points.
Twtter: @Pumper_Ryan follow for daily picks, and updates.