24 Feb - 03 Mar
Total return: 118%
Coins: RBY

Its hard for the average trader to oppose what appears to be the general drift of public opinion. In the crypto market this is perhaps harder than elsewhere; because we all realise that the prices of coins must, in the long run, be controlled by public opinion. However the point most people fail to remember is that public opinion in this speculative market is measured in BTC, not in population.

RBY

One man controlling 5000 BTC has double the weight of 100 men with 25 BTC each. BTC is the horsepower of this market not the number of individual participants.

This is why the great body of opinion appears to be bullish at the top and bearish at the bottom. The multitude of small traders must be, as a plain necessity, long when prices are at the top, and bearish or out of the market at the bottom. The very fact that they are long at the top shows that they have been supplied with their coins from some source.

It is widely acknowledged that the average man is an optimist regarding his own enterprises and a pessimist when it comes to everyone elses. This applies perfectly to the majority of traders in the altcoin markets, and is also one of the main reasons this market is so simple to use and abuse for profit.

As a result of the reasoning outlined above, most traders habitually expect that nearly everyone else will be wrong, but is, as a rule, confident their own analysis of the situation will prove correct... The greater the number of bullish opinions they hear, the more doubtful they become about the wisdom of following the bull side.

This contrariness of market players, although easily understood when its causes are examined, breeds in most amateur traders a peculiar sort of scepticism that leads them to always distrust the obvious and to apply a kind of inverted reasoning to each and every situation in the market.

Often, in the minds of traders who arent naturally logical, this inverted reasoning assumes the most erratic and grotesque forms, and literally accounts for hundreds of instances of absurd fluctuations in prices, which people incorrectly identify as manipulation.

However, its to be noted that this inverted reasoning is useful at the top, or bottom of a movement, when either distribution or accumulation is being carried out on a large scale. This is when skilled players are profiting due to long and extended price advancements, because they accept facts as facts whilst novice traders are often found fighting the advance and losing heavily because of the over-development of cynicism and suspicion.

The inexperienced trader is therefore left very much in the middle of an ocean that is inhabited by sharks and whales. He is literally playing with the professionals edged tools and is likely to cut himself. He has very little idea as to what is wrong or right in this market, because he is on the outside and is therefore in the dark and unaware of the real game that is being played.

As I have mentioned many times before, the altcoin market is just like a game and there are two categories of participants in this game.

Pay attention to this, because this is very important and is the sole answer to why you are either continuously making money, or continuously losing money....

... We all have a choice in which category we fall into in this market.

You have those who create the rules... you have those who follow the rules, then you have those who arent even aware that there are rules in place however, the group that creates the rules obviously tilt and skew the game so that all of the odds are in their favour. Therefore, everyone else (the outsiders) are merely performing functions that have been predetermined by someone else. This one function is to supply the rule makers with endless profits.

If youre wondering what role youre playing in this game, then just ask yourself do you have nothing but wins, profits and gains? Or do you have loss, after lost, after loss (with the occasional small win every now and again)?

If you have nothing apart from losses to show for you entire tenure in the crypto market, then it should be clear what role you have been willingly undertaking... you have been falling into each and every trap that has been strategically laid out in front of you by the skilled few... and each and every one of your losses have, most certainly, been converted into profits for these skilled players.

Daily Tip

For some, trading altcoins will forever be a gamble... But for skilled players, trading altcoins is like being the operator of your own personal cash machine that has a direct line into the vaults of the federal reserve therefore allowing you to print endless amounts of money.

But, that money has to come from somewhere... and if you commit to remaining an unskilled gambler, that money will continue come directly out of your back pocket and into the hands of the skilled few.

This market is more than what meets the eye, if youre simply logging into Bittrex and trying to catch a quick pump, then you have already lost...

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 dont have an answer or cant 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.