Risk comes from not knowing what you’re doing.
In trading, and especially when trading altcoins, ‘risk’ is the lack of information, preparation and skill. Once you begin to learn the ins and outs of trading the altcoin market, risk begins to subside and certainty begins to kick in.
There are some who resign themselves to the belief that trading is difficult.
By adopting this belief, unskilled traders are able to conjure up an endless list of reasons and excuses as to why they have lost more money in this market than they have ever made. Instead of taking a long look at their own inefficient trading strategies, they blame market manipulators, pump groups, “shady exchanges,” and unscrupulous developers for their losses .
This is folly, because when it comes down to it – the only person that is responsible for clicking the buy button and opening a trade is you. Therefore, whether you are a repeat winner or a consistent loser, YOU are the reason for your success or failure in this market – no one else.
You have to recognise that there is a small group of traders in this very market who have made more money this year than 90% of the markets population combined. These traders have eradicated all forms of ‘market risk’ and replaced them with ‘certainty,’ by gaining a complete and thorough understanding of market psychology, and the mechanics of price movement.
These traders understand how, why and when money moves through this market and so they simply place themselves in position for this money to be deposited into their own wallets.
Continuous profit in the crypto currency market is a direct side-effect of strategic trading.
You have to pick your spots carefully and then strike.
For example, although the Cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. Only then, when there is no chance it can lose its prey, does it attack. That to me is the key to successfully trading altcoins
The majority of market participants will preach and protest about the supposed ‘difficulties’ of trading. They congregate into one place and begin to sprout out a string of clichés: “It’s impossible to always buy the bottom and sell the top,” “trading is difficult,” “a 10% profit is better than nothing,” etc
The equivalent of this would be a boxer, who repeatedly suffers pathetic defeats, blaming his losses on the fact that the other guy punched him…. Well obviously, it’s boxing. The skill is in avoiding as many punches as possible and perhaps dishing out more punches than your opponent.
In crypto, 90% of traders are exactly like the boxer I described above.
They get into the ring, get punched in the face and then they cry foul.
Even worse, they return the next day, get punched in the face yet again and then they leave the ring only to return home to prepare a scam accusation against their opponent for punching them in the face during a boxing match.
This is a direct result of 1. Not knowing the industry that you’re involved in, 2. Not having the sufficient skills to be successful in the field that you’re involved in and 3. Attempting to trade the market without a strategy.
In fact, 98% of your time in this market will be spent walking into stray left and right hooks, some uppercuts and an onslaught of jabs for good measure.
Simply put, if you don’t know the ins and outs of this market, then you should prepare yourself to have your arse handed to you on a daily basis, because that’s what is going to happen.
There are no two ways around this.
If you are constantly opening trades at the wrong time, and selling at the wrong time then you have no right to complain when the market punishes you – and believe me, the market will punish you in the most savage fashion if you decide to play this game without at least knowing the rules.
You see, there is a common perception amongst the most unskilled traders that trading is difficult.
They believe that a thing as meagre as a 10% profit is cause for celebration….. and so this is the box they confine themselves into.
However, on the other side of the ring, you have skilled altcoin traders.
These skilled traders approach the market a little differently to the common novice… to them, trading is common sense. If you don’t want to get punched in the face, then you had better get out of the way… If you want to win, then you had better knock your opponent clean out!
Additionally, because 90% of the participants in this market are so drastically unskilled and unsophisticated in their approach to trading: The crypto currency market is basically the world’s most unfair and one-sided fist fight.
Just imagine someone like Floyd Mayweather riding around the city and hand picking a string of street-bums and alley-way crack addicts to fight on PPV. He can fight them all on the same night, one after the other, and the result will be the same.
This is the skilled traders view of the altcoin market.
There is no challenge, because 90% of the time, the person on the other side of my trade will be of the unskilled variety and will be easily discarded and pushed to the side.
There is no difficulty in trading, when 90% of the time, the person on the other side of your trade has no concept of how the market really works, and has therefore left themselves open to all kinds of exploits and abuse that can and will be used against them.
If you have lost money consistently in the altcoin market, then perhaps you should look into either leaving the market completely – to save yourself from the pits of financial ruin… or you can earn back each and every coin that was taken from you, and then some, by developing skill.
It’s as straight forward as that.
The more time you spend associating with novice traders, the more likely it becomes that their negative mentalities begin to rub off on you. Quite literally, mediocrity is contagious and that applies perfectly to the world of the cryptos.
90% of the traders in this market have never made a 200% profit more than once. 1% of the traders in this market make 200% profits every other day. So clearly, it would be wise to shun the thoughts, opinions and beliefs of the majority because, ‘the majority’ loses the most money in crypto. Literally, following the habits of the majority is similar to taking your life savings and flushing it down the toilet.
You have all seen the endless list of 1000% profits that have been generated in this very market, but if you’re part of the 90% then you have merely been an observer.. an eye witness to this wealth that is being generated.
If you’d like for this to change… If you’d rather be a profiteer instead of a voyeuristic onlooker, then you need to adjust the way you perceive the market