It is very important to distinguish between respect for the market and fear of the market. Fear will keep you from making correct decisions. You won’t win, if you’re fearful of losing. When trading is going well it will seem effortless. If trading isn’t going well, you can’t force it right by working harder. If you are in a particularly bad trading period, when nearly every decision you make seems to be wrong, trying harder won’t help. It will only make matters worse. You can work harder in doing more research. You can work harder in trying to figure out what’s going wrong. But you can’t work harder at trading. If you are out of sync with the markets, trying harder will often make the situation even worse.
You have to expand your horizons. Whilst novice traders stumble over each other in search of cheap thrills – skilled market participants understand that profit comes quicker, and much more grander, to those who wait patiently.
With every up, or down tick – the market leaves behind clues. Clues that, when put into action, will force open the doors of continuous profit. Enabling you to make limitless amounts of BTC.
Just look at the amount of volume Bittrex attracts.
On a daily basis, hundreds of bitcoins change hands as skilled traders milk the market for everything it’s worth.
Whilst all of this is happening, novices waste their days hopping from coin to coin looking for some measly 10% profit.
Novice traders will spin their wheels for months, and never actually realise that they aren’t getting anywhere.
You see, like it or lump it – this is a market that has a natural pattern of movement, and this pattern applies just as much to BTC as it does to every other piece of shit altcoin.
Make no mistake about it, BTC is the hood ornament of the entire digital currency market. Every altcoin that is created, hoarded, or traded serves only one purpose – the attainment of more BTC.
So those who ignore the movements of bitcoin do so in complete ignorance.
You see, I have donated a sizable portion of time toward exposing certain driving forces of this market. I have pulled the cat out of the bag and let you guys know that support and resistance isn’t measured on the chart – but in the order books. I have lifted the veil and exposed that every altcoin moves in accordance with a long-term pattern – that always produces more profit than the returns generated from short-term movements.
I have undressed several altcoins in order to reveal the fact that – duh – trading isn’t a guessing game, because every altcoin has ‘recurring’ cycles.
The prices may change every now and again – allowing for intelligent players to profit, but there is always one persistent factor that prevails above all else. There is always one exploitable factor that appears over and over.
Skilled players are well aware of what I am alluding to.
You see… Every novice in this market approaches altcoins in such a one dimensional, basic and unimpressive manner. They all look for the same things – thus they all end up making the same (incorrect) decisions.
Novice traders donate the largest portion of their time to trying to spot large price moves (rallies) as these moves are starting, instead of before. So they are consistently buying into distribution cycles.
Skilled players look for four things and four things only. Skilled players look for:
The most important factors in that list, is numbers 3 and 4. The major decline, and signs of accumulation.
You see, a coin that has just had a major 100BTC rally will decline in value.
This decline is sparked by skilled players taking profit (the uninitiated refer to this as dumping).
Once these skilled players begin to cash out – the mere act of them cashing out brings unskilled participants into the coin, at the top.
As things progress, more and more traders begin to exit via the buy side – bringing the price even lower.
At this point, sell resistance is sky high with enormous orders piled onto the sell side (preventing prices from rising, thus officially bringing the rally to an end)
The unskilled participants don’t realise that the big move has ended, so they wait – in vain – for their sell orders to be bought.
Eventually, some novices realise that prices aren’t moving.. So they cut their losses and dump their holdings… bringing the price even lower.
Then, gradually, more and more novices begin to dump out – realising their mistake and assisting to drive prices even lower into the ground.
This inverted rally culminates with a price decline of 70% or higher.
What are the implications of this?
Well, in order to exit – the latecomers, had to pull their orders from the sell side – so that they could dump them onto the buy side – thus, bringing both the price and sell resistance down.
Cheap coins + low/no sell resistance = PAYDAY!
The point here is that every single rally is preceded by a major decline in value. So if you’re buying into coins that aren’t in, or just coming out of, a major (-70% or more) decline – then you are 100% buying into distribution and are on the heels of yet another loss.
Tip: Trading is simple. There is no reason at all to approach the market in a complicated and non advantageous manner. In this market, it is easier to win than it is to lose. Common sense prevails over irrationality. However, in the mind of a novice – irrationality is the most dominant factor. Novices are so out of sync with the market, that their every move serves only to fatten the pockets of skilled players. From timing, to pattern exploitation – novices are so out of touch with the driving forces behind price movement. So they consistently fail. In order to achieve exponential success in this market, you have to realise that short-term thinking is a mind frame that was custom designed for losers. Expand your time horizons and begin to explore the long term rewards that this market has to offer. Once you come into alignment with the prevailing patterns found in every single altcoin on the market – profit will consistently flow into your hands, with very little effort. Call it manipulation, or whatever you will – but, whilst you are trading this market, you are wither trading with the prevailing pattern, or against it. Make your choice.