Great wealth is born out of the conservation of energy… Monumental wealth is born out of the conservation of time. Hard work is the draining of mental energy, resources and time – all of which are vital ingredients to your financial success in this market. If you’re deficient in anyone one of these areas, then you have absolutely no hope of attaining any form of continued and sustained success in crypto.
You see, time and time again, amateur traders make the common mistake of thinking that profits are a direct result of hard work. This is not the case. How do I know this? Well, just ask yourself – look at the amount of time that you spend trading each and every day, then compare it with the amount of money that you have made. 9 times out of 10, the people who spend the most time trading this market, make the least amount of money. They end up with absolutely nothing to show for their efforts.
Now don’t get me wrong, this is very common amongst amateur traders. Simply because they are not experienced in the art of extracting profit from a crypto coin. The mechanics are very simple. It only takes a minute or two to press the buy button to get into a coin, and then another minute to press the sell button to get out of the coin – so, where is the justification in spending numerous hours day after day in front of the screen? … There is none.
You see, a pump that occurs today is providing those who bought last week with profit – not the people who are buying today. In fact the people who are buying today, are putting their money directly into the back pockets of manipulators – who are always very grateful indeed.
So if your strategy consists of waking up every morning, logging into Bittrex and then sitting there for hours on end waiting to catch a quick pump – then you have already failed.
Winners do not chase pumps. Winners let the pumps come to them
I mentioned in a previous post that 90% of my profits come from trades that I have pre-planned, and pre-executed either several weeks, or months prior to the major price advancement taking place.
This is because I am in tune with the bigger picture of the price movement that occurs throughout this entire market, so I am able to open a trade and then to walk away from the computer for the entire day – with no worry, no mental strain and no stress… then as the weeks pass, my position will have almost certainly grown in value just due to the way other traders operate in this market.
You see, traders in this market have a habit that sucks more money out of their pocket than they’ll ever know.
The majority of crypto currency traders spend hour after hour, after hour each day beating away at the market… they jump into trades and then jump back out, then jump back in…. they spend several hours ‘monitoring’ several different coins at a time… they buy whatever some promoter on twitter tells them to… they are constantly buying, constantly selling, constantly doing the work of the manipulator without even knowing it.
This is what enables a skilled trader to open a trade and then walk away from his computer, knowing full and well that novice traders will ‘willingly’ do the bulk of his work for him.
Let’s say, for instance, that at the start of the month, a skilled trader starts building a $500 position in a coin that has just suffered a major decline and is currently being accumulated.
It may take him a few days, or a week to build his entire position – but, once he is done and has his entire position, he can almost guarantee that with the passing of 30 – 40 days, his $300 position will have grown to be worth more than $1,000+
Why is this?
Well, as I mentioned at the start of this post – wealth is born out of the conservation of time and energy.
The skilled trader can build his position and walk away, feeling no fear or trepidation whatsoever because he knows that there are more than 1000 novice traders who are glued to their screens every day, and prepared to do the heavy lifting for him.
He knows that there are 1000 traders who are willing and ready to by any coin so long as it is giving signs of a coming price advancement, and with there being only a finite amount of tradable coins available on the market – activity will always cycle right back around to this coin that the skilled trader is positioned in.
It will start slow…
Eventually buying within the accumulation price range begins to become saturated, and the price begins to lift.
This attracts what we call ‘goal hangers’ who will hover around the market looking to catch a coin while it has already started to move upwards. These guys jump in and execute their buys – pushing the price higher.
The coin will have increased in value by more than 20% several days in a row – but ‘the majority’ will still not be aware of this, because they only take 24hr price movements into account. However, this doesn’t take away from the fact that the coin, after five days in a row of small 20% price advancements, is now worth 100% more than it was when our skilled trader built his original position.
Then, eventually, after already advancing by 100%+, our coin makes its return to the front page of Bittrex, where every altcoin promoter in the land waits in anticipation for something that “looks interesting.”
So upon seeing our coin which is showing a 43% 24hr price advancement (even though early birds are already at a 100%+ profit) altcoin promoters jump for joy as they are looking at a coin that seems to be in the early stages of a pump so they begin to broadcast their financial wisdom on twitter – “Buy XCOIN NOW it is going to the moon” – of course they would have pre-bought their own small positions at this stage, further pushing the price higher.
Now twitter is buzzing about this coin, every novice trader in the land is now rushing to Bittrex to “buy early” before “the whales start dumping” – this influx of volume pushes the price even higher
By this point our skilled trader who bought weeks ago is now sitting on a pretty hefty 500%+ profit, and he didn’t even lift a finger except to press the sell button and cash out.
This is how you allow the market to work for YOU… This is how to use the time, energy and resources of others for your own financial benefit. This is what allows a skilled trader to open a trade and then to walk away, and then come back to see a windfall of revenue.
Now you have to be aware, that skilled participants in this market make multiple trades each month, just like I described above. So their income each month is skyrocketing each and every time that they take their profits and put them back into the market – because this allows them to build more inventory, which allows them to increase their monthly income whilst decreasing the amount of time they spend in front of the screen.
So I must mention again… wealth is born out of the conservation of time and energy.
If you are spending hours each and every day in front of the screen, then you are almost certainly making less money than a skilled and informed trader who spends a mere 40 minutes a day engaging with the market.
You must learn how to use the time, effort and energy of other people. As I mentioned above, there are people who trade altcoins almost fanatically – and they have never made a meaningful amount of profit in their lives. Yet they continue to willingly spend hours beating away at the market day after day.
These types of traders are in the ‘majority’ so there is vast amount of these guys – the best thing about that is, these guys will do the heavy lifting for YOU
Consistent profit in this market is a result of strategy, not hard work