13 Dec - 01 JanTotal return: 246%
Coins: URO
Don’t make trading more complicated than it needs to be. Just wait until a trade is so obvious that it’s like picking money up off the floor - until then, do nothing. Waiting for such ideal opportunities requires the patience to allow a lot of non optimal trades to pass by without participating. I tend to not lose out on my trades because I wait for exactly the right moment. 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 it’s 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.
URO
As I’ve said time and time again, the market leaves its own DNA, buried in the charts.
These areas of accumulation and distribution remain on the charts forever. The price moves on, but these areas remain, and at some point in the future, price behaviour moves back into these regions, and at this stage, these areas, often dormant for long periods, then become powerful once again.
This is the Case with URO
I made a post about URO several months ago (
read it here), I broke down the fact that there was a major price move in the works.
You see, despite the thousands of unskilled traders who recklessly / ignorantly preach that “the market is uncertain”, “anything can happen” etc etc – clearly, the crypto market is 110% predictable.
Not only is it predictable, but it is also fairly simple to push and pull this market in virtually any direction.
Personally, I will never place a trade unless it is a trade that has abundant elements of certainty behind it. This URO trade falls perfectly into that category.
I tell members again and again, if a coin isn’t being accumulated – then you have no business trying to buy it.
With URO, not only was there accumulation – but there was a long and extended, high volume, accumulation period starting from Nov 27 up until Jan 01.
During this period, the total trading volume was: 468.39 BTC / $148,016.
Trading volume during the distribution phase is always larger than it is during accumulation.
Due to the fact that URO’s extended accumulation period generated a total of $148K in trading volume, it would be reasonable to expect prices to continue to run high.
Tip:
Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself. You have to stop trying to will things to happen in order to prove that you’re right. Listen only to what the market is telling you. The sole objective of trading is not to prove you’re right, but to hear the cash register ring.
SIDENOTE: You want to eliminate as many poor-percentage and high risk trades from your repertoire as possible. Once you have done this, you will see a dramatic boost in your overall profitability. Trading less and taking only the best-percentage trades are such an important part of pulling consistent wins. Ask yourself before each trade, “why am I taking this trade?” If you don’t have an answer – or can’t justify the answer, then skip the trade. To develop the mentality needed to win in Crypto, you must develop a high probability strategy. It is as simple as that. You must have the discipline to sit and wait for only the most optimal trades where all the factors of a bull run are lined up and painfully obvious. Only then should you be putting on a trade. Note: BTC is a buy right now. Pay attention to the price and execute your buys at the low points.
Twtter: @Pumper_Ryan follow for daily picks, and updates.
