Though the same general tactics are pursued year after year, insiders constantly scheme out new tricks to deceive novices. If you propose, therefore, to win money instead of losing it, you must not only master the ordinary complications of the game, but also keep up to date, the same as in any other business.
In the altcoin markets, some traders win big and fast. These traders don’t just hit it big once, they make gigantic gains a habit. Again and again, week after week, these skilled traders pull large amounts of profit from the market. This isn’t due to chance, this is due to skill.
With that being said, it would only be logical to assume that winning in the altcoin markets is an absolute walk in the park. It would make perfect sense to surmise that trading altcoins is the surest route to bulk loads of easy money.
Although this is the case for those who play the game the way it’s supposed to be played, for others trading crypto currencies is an absolute nightmare.
This is a market that takes from the majority and gives to the skilled few.
This is a market that punishes ignorance and rewards finesse and intelligence, therefore information is key.
You see, when trading altcoins it is a must that you realise that, whether you know it or not – you fall into one out of four categories. In this market you are either:
The difference between traders who fall in to each category is information – or the lack thereof.
I mentioned above, that despite the fact that some people cruise through this market with ease, making more money month after month – there are traders who just can’t seem to stop losing.
There are people who just don’t understand how to trade altcoins.
It is for this reason that they lose consistently.
I mean, if I were to break down the strategy of a winning trader and compare it with that of a consistent loss taker, the difference would be very distinct and obvious.
You see, novice traders have no weapons in their arsenal other than ‘common wisdom’. This same wisdom is shared by the majority of the market, and it is a clean-cut fact that the majority loses the most money in this market – to the skilled few; the minority.
If you are a novice, then you must think to yourself… Everyone says to “avoid coins with low volume,” yet everyone who shares this belief is not making large sums of money. So is this ideology correct? It certainly isn’t
You have to think to yourself. The majority of traders in this market, when asked, will say that they “never buy into a coin that has low buy support.” Yet the majority of traders in this market have more losses than they do gains. So, again, is this ideology correct? It certainly isn’t.
Clearly, common wisdom in this market serves someone well. Not the majority… But, skilled traders who use these incorrect beliefs to their own advantage.
You see consistent winners know full and well that there are more novices in this market than there are skilled players. So to put themselves at an advantage over 99% of participants in this market, they seek to acquire information that isn’t readily available to the average trader.
Those who follow common wisdom will only ever have more losses to show than profit.
Traders who live by common wisdom in this market, will only ever put money directly into the pockets of skilled players who are always one step ahead of the game.
I have said it before, in crypto, it is easier to win than it is to lose. This is because we have certain tools available to us that reveals every single price move before they occur. These tools are the charts and the order books.
Winning consistently means understanding that every single coin has its own unique pattern of movement, once you begin to come into alignment with these patterns – you will begin to pull more money from this market than you will ever put back into it. You will start to achieve levels of efficiency that will guarantee continued expansion of profit.
Doing this means ditching common wisdom and understanding that 99% of traders in this market don’t have a clue on the mechanics behind price movement.
In fact, if you are a novice in this market, then I can say, with certainty, that 90% of the trades you take will serve only to fatten the pockets of skilled players. This is because skilled traders have a strict buying criteria and will always beat you out when it comes to getting positioned in a coin before a major move.
Moving out of the realm of the majority, and into that of the skilled few – means acquiring specialist information.
This information is available to everyone, if you look hard enough.
What is your strategy? Are you a long-term trader that sees every rally through from the start to the finish for maximum returns? Or, are you a short-term trader who is forever trying to bet on the continuation of moves that have already occurred? Either way, whichever approach you take, your strategy is the determining factor between continuous profitability and the accumulation of loss, after loss.