They chase after every opportunity, failing to realise that from the very moment money is deposited into the market, it already has pre-determined destination and will reach that destination unless the depositor cancels his trade.
So chasing money in this market is a hopeless experiment, one that can only provide more losses than gains.
Like a fisherman who heard that a particular lake was full of fish, novice altcoin traders rush blindly into any and every coin that is the talk of the town and often find that by the time they get there, the opportunity has long passed.
Simply put, 90% of traders in crypto are inefficient users of the market, and inefficient users of time.
On the other hand, skilled players and market manipulators are committed to an entirely different approach.
Skilled altcoin traders do not chase after hype trains, they understand that money moves through the very veins of this market in a cyclical manner. This is why the prices of coins always fall after a big increase, and rise after a big decline.
If there existed an infinite amount of coins in this market, then it would be logical to chase after opportunity because it would be very unlikely that trading volume would return to a coin.
But in the altcoin market, this isnt the case. In fact, there is a finite amount of coins available at any one time which means that trading volume passes from coin 1, to coin 2 then back to coin 1, then to coin 3, back to coin 2 and etc.
The catch is, there is a set of criteria that must exit before volume can pass through a coin and push its price into the realm of profit. Knowing this criteria is like having the secret pass code to a bank vault that is jam packed full of gold bars, and mountains upon mountains of cash.
And there you have it.
The thing that personally helped me the most was when you explained to me in the most simple terms over skype, that money moves in cycles throughout this market
Cause theres only ever a small handful of real opportunities available simultaneously the volume bounces from coin the coin in cycles
Money will only flow into a coin that has the right components that allow it to and when you have become familiar with these components, all you have to do i lay in wait
I keep saying to everyone who asks
Turning $10 to $100 / turning $100 to $1000 / turning $1000 to $10,000 takes the SAME amount of effort and is done in the SAME amount of time
The only difference is the numbers themselves. Other than that, the process is always exactly the same. Someone who risks $1k and pulls back in $10k, isn't smarter than the $10 to $100 trader, he just has a stronger understanding of these basic principles
If you have been here for longer than one year then you really have no excuse for not making fist fulls of cash every month
this is perhaps the easiest money i have made in my life thus far and for that I am thankful to ryan and the entire squad