24 Feb - 15 Mar
Total return: 117%
Coins: SYS

To succeed, it is important that you master the art of gauging support and resistance. Not in the traditional sense (defacing your charts with the most ridiculous trend lines). Support and resistance can be gauged by assessing the order book, I have explained this strategy in a previous post. By using this approach as part of your strategy you are eliminating the need for ‘guesswork’ because you are, in effect, using the markets own price behaviour to provide you with protection on your positions

SYS


It is common knowledge that Crypto is the most manipulated market in the world. It is the most simple market to manipulate... to push, and to pull in order to achieve a pre-meditated ends. This is the only market in the world were 99.8% of the participants haven’t got the slightest clue as to what they are doing.

This is a market that is filled to the brim with people who ‘pretend’ to know what they’re doing, until the conversation steers in the realm of continuous, cold hard profit. You see, there is only but a slight few who dominate this market. In terms of pulling a profit from nothing except from a few clicks on their mouse pad.

Out of 100 Crypto traders, only 1 is ‘consistently’ profitable.

You have swathes of unskilled traders who get trampled over in the markets all day long, simply because they are too ignorant to realise how the game is really played. They are too short-sighted and unable to look through the smog to see that, every day, shed loads of money is lost in the market – so, in that same token, there is the small few who make obscene amounts of money due to the narrow mindedness, the ignorance and down-right carelessness of novice traders.

You see, most people tend to have some distorted image in their mind about trading. They tend to be under the misguided belief that quick paced, in and out, momentum based trading is the key to substantial paydays – due to what they have seen in over dramatised documentaries and movies. It is this belief that acts as a blockade to any kind of profitability.

What people fail to realise is that, at any given time, there are participants in this market who are positioning themselves to profit greatly due to the stupidity of novice traders. In fact, this is the sole objective of skilled traders - to profit because of the ‘stupidity’ of novice traders – the more ignorant these amateur players are, the greater the pay-off.

This fact is hidden in plain sight.

Day after day, novice traders get trampled all over by the slim few who will always be one step ahead.

I mean, the very nature of the market spells out the greatest secret – a secret so great that once you realise it, you won’t be able to help but pull in a gargantuan amount of BTC daily. Maybe i will devote an entire post to breaking this secret down, but for now – I want to highlight an obvious flaw that is apparent in every novice traders mentality.

Why is it that the unskilled will never realise that when they are buying into a rally, they are helping someone else liquidate their entire position? Why is it that an amateur doesn’t stop to ask himself; why are there any sell orders for me to buy through in the first place, if this coin is priced correctly?

It is all about timing. You see, in this market, you fall into one of two categories. Buyer or seller. When one coin is your focus, you can’t be both at the same time.

You see, I have said it before... and i will say it again. Trading is a game of accumulation V distribution, wholesale V retail.

People always ask me how to strike up profit after profit, and I simply tell them to think of trading crypto like owning a store.

Once you begin to think like that, Bittrex then becomes a very useful algorithm that tells you when the most popular items are selling at wholesale price and when they are selling at retail price.

Thinking in these terms will enable you to make logical decisions – instead of buying into a coin at the top of the market, watching the price fall out of the sky and then complaining that crypto is “rigged”.


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.