Sent a pm ryan i hope it's not too late to join? I did send an email through your site last night im not sure if you got it?
anyways im really looking to hear back from you, im hoping to become a regular
anyways im really looking to hear back from you, im hoping to become a regular
Sorry, just a day late there. Registration for the week 02/23 - 03/01 has been closed since yesterday unfortunately.
Wait it out a few days, registration will be open again on Sat 02/28
Out of short term and long term approaches which would you say is best? I have been debating this for a while but would like to hear your take. Specifically, I want to know which out of the two can lead to consistency
Long term is the most superior strategy you could ever adopt in any market. In fact, the altcoin market is custom built for long term trading.
The general idea behind this is the layman, or inexperienced, or "hobbyist" trader - is actually not a trader, they are gamblers. Not only do they expect immediate payoffs from their trades, they demand it. Interestingly though, this is why they all fail and end up losing all of their money
These guys are trying to fit square pegs into round holes, because this market is tailor made for the long term trader.
Whilst inexperienced traders watch, in amazement, as a coin randomly shoots up by 100% in 24 hrs - they are totally oblivious to the fact that, everyday - for weeks, that same exact coin was making small advancements (+10% - +30%) daily... So what they are looking at as "a coin that doubled in value in one day", may have actually provided another, more skilled group of traders, with 500%+ in profits.
But, as we all know, people shun coins that have little/no volume. Which is what makes it fairly simple for tactical players to accumulate large positions in a coin almost unnoticed and then reap gargantuan rewards when the rest of the market finally decides to pump volume into that coin.
It's interesting to me that people want to achieve "long term" consistency, but all they do is make "short term" trades...
Overall, long term strategies win every time.
I am interested in perhaps trading with you under a mentorship basis if possible and if there is space for me in your group how can i sign up?
Sorry, registration is currently closed until Sat 02/28
another thing I wanted to ask you is what you are thinking about the volume situation with the alts at the moment? I remember the days of AUR and CINNI where 2000btc volume in a day was practically the norm. Your methodology is based on cyclical volume so how do you see the current state of the market playing out?
Good question...
Personally, I am not one of those guys who complain about the amount of coins on the market. It's a free market, and I welcome the creativity and innovation shown by all the 'reputable' developers. But simply put, I'm a 'trader' so i would also love to see 2000 BTC pouring into a single coin
which would make it simple for even the most inexperienced trader to profit, but that doesn't mean you can't profit from 20 coins that each attract 100 BTC in volume during their distribution cycles
on the whole though, Volume is beginning to creep back in, slowly but surely. You have to remember, Bitcoin is the hood ornament of the entire digital currency market, so when Bitcoin has it's next major rally - it's a surety that some of that volume will trickle into the alt markets.
Things in motion catch the eye quickest.
a hundred percent! Cause when people see the price of a coin going up in real time, they can practically see opportunity getting farther and farther away. So they feel compelled to jump in. But when that same coin was at a low price and out of the limelight, they fail to recognize that as an opportunity so they are always playing catch up. Sucks to not have a strategyPrecisely
When you aren't sure of what you're doing, what do you do? You observe the actions of everyone else around you, and then you follow suit.
Same thing happens in the crypto markets.
For most people, this is their first - ever - experience of trading anything at all. So there is a lot of decisions being made that are based on nothing apart from herd mentality.
This is what makes the altcoin market a fertile breeding ground for veteran traders who have years of experience, to simply come and take advantage of "the little guy."
Believe me when i tell you, there are literally hundreds of institutional traders who are knee deep in the altcoin markets. There is just far too much money being carelessly thrown around
And when people are being careless, there is always a very small group who are profiting because of it