On January 23rd, SPR fell into a quagmire of what seemed to be an endless pit of decline, and as a rule the majority of traders in this market believe that a decline in price is irreversible, which is interestingly what causes them to refer to coins like this as dead, whilst skilled traders refer to coins that are in this type of condition as cheap and therefore ripe for accumulation.
Starting on January 23rd, SPR declined from 69,960 Satoshi by 96% and settled at 2,507 Satoshi on March 12th.
As a personal rule, any coin that has attracted a large pool of market wide attention previously and has declined in price by more than 90%, should be bought with no questions asked as it represents tremendous potential for clean cut, high percentage profit.
However, the majority opinion in the market on March 12th was SPR is officially dead!
As it turns out, anybody who ignored the majority view and bought, made off with a truck load of profit. In fact, since March 12th the price of SPR has advanced from a low of 2,505 Satoshi to a sensationally high 18,500 Satoshi which is a gargantuan 638% gain for those who went contrary to the opinions held by the majority, who are the consistent losers in this market.
You see the traders who make the most money out of situations like this are those who have the mental strength and fortitude to stand firm against the tide of majority held opinion. These skilled traders are able to disregard what everyone else is saying and instead think things through for themselves and anyone who possesses the ability to think logically understands that: the best time to buy, is when the price of a coin is low and when a coins price is low the majority will always advise against buying.
+ 1
It's funny how a profit or a loss can be broken down into a simple question of perspective like this
To idiots a decline = a coin is DEAD and is also a SCAM
To skilled traders a decline = check for past prosperity / popularity levels / volume levels and if everything checks out BUY AN ABSOLUTE SHIT LOAD, then cash out 500% profit
So true....theres no big secret to winning all the time, you just need to buy cheap and sell expensively, but when a coin is "cheap" the amateurs are kept away by manipulators telling them that the coin is dead so they never get to buy cheap.....they are always buying expensively and then being forced to sell cheap
When you look at it this way you can see that timing is probably the most important secret to winning in crypto
1. Timing
2. knowing what to look for
3. knowing the difference between a bear and bull market because you cant use the same method to trade both
4. having more than 10 btc at any one time in active trades in the market to create a constant and passive stream of income
5. knowing about manipulation
6. knowing how to manipulate
7. REINVESTING PROFIT
8. being as hands off as possible
9. using several different types of automation so that you can be in several different places in one time
10. knowing what makes people low, and then being there to make sure that money is lost to YOU
Thats the 10 commandments, I could throw 10 more in there but those are the most efficient ways of squeezing this market dry and totally milking the game for all its worth
I'd love to hear what ryan or toleng has to say about this
I think this is a bullet proof list tbh
Not bullet proof, but pretty darn close
considerable damage can and will be caused by whoever puts that into practice