15 Nov - 16 NovTotal return: 145%
Coins: SDC, SLR
I’ve said it before, and I’m going to say it again, because it cannot be overemphasized: the most important thing you can learn is to divorce your ego from the trade. 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 now. Forget what you thought it was telling you five minutes ago. The sole objective of trading is not to prove you’re right, but to hear the cash register ring.
SDCSDC is a very interesting Coin. Not because of any cool feature or functionality, but because of how predictable it’s price patterns are. This is a Coin that has consistently held a steady level of volume since August. I’ve said it before, people don’t repeatedly throw money at something unless that thing is lining their pockets with cash.
Have a look at the ALL chart for SDC, you will see just how predictable it's price movement has been since August. You'll also realise that there are savvy traders who are constantly milking SDC for cash.
This price movement is so obvious that it confuses me to know that the entire market isn’t taking advantage of this.
Since August, SDC has dropped down into the 14k – 15K range Four times before shooting upwards into the 27K – 28K range – for a near 100% gain each time.
Why is this significant?
Well, just take a look at the volume every time SDC dips to into the 14K – 15K range, there is always around 30 – 60 BTC being brought into the market. Which suggest that there are hoards of traders who keep Buy orders at these levels at all times, knowing that if they get hit – all they have to do is place their sells for a 60% - 70% gain and then wait to be bought out.
This happens over and over again which is a testament to how strong the SDC market is.
Personally I feel that it is of utmost importance to take advantage of this kind of opportunity. You won’t get any closer than this to risk free trading.
All that is required is the ability to recognise recurring patterns, and the patience to see each move through to completion – without panicking or being swayed by market sentiment.
SDC is a solid Coin and one that can be played for continuous profit.
Tip:
My market philosophy is quite simple. Trading Crypto is not dissimilar to purchasing fine art. If you are to achieve any level of continued success, then you must buy only the best paintings, by the best artists, at the best prices. This will provide you with the easiest profits that there are to be had because there will always be wealthy traders around who look to buy only the best – thus your job is simply to get there first. Deciding when to get into and out of these high quality coins is as simple as understanding the difference between retail and wholesale pricing.SLRSLR is another Coin that has had a strong and healthy supply of Volume since August. However, SLR has only just started to settle into a rhythm that can be exploited for profit.
The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless. I will use a running analogy.
Picture someone who is completely out of shape trying to run a mile in 10 minutes. Now, picture a world-class runner running a marathon one mile after another, easy as can be.
Who is doing more hard work? Who is more successful?
Well, clearly the out of shape runner is doing more work, but the world-class runner is much more successful.
The world-class runner, however, didn’t get to this level of proficiency by just getting off the couch one day and going for one short run. He has been training hard for weeks on end. So, his hard work came in the preparation.
When he is performing successfully, however, the actual process of running should be effortless; he will run his best races when he is running effortlessly.
The same principles apply in trading.
If trading is going well. It will seem effortless, that’s the key. If you are out of sync with the markets, trying harder is often more likely to make the situation worse.
You have to be aware of what has occurred in the past when looking to assess the future profitability of a coin. You want to see that a coin has consistently delivered profits in the past prior to making your trading decision – this is the preparation.
SLR has been in the 900 – 1K price range three times during its entire lifespan on Bittrex. All three times SLR bounced from this range into 2K territory, producing 100%+ gains each time.
These are the factors that you need to be well aware of before placing your trade. Once you begin to adopt this simple preparation into your own trading strategy, you will finally realise just how simple it is to continuously win in Crypto
Tip:
In these winning times, traders become susceptible to being lulled into complacency. Thus, the worst draw downs may come right after periods where just about everything seems to be working well as if it had been optimistically scripted. During winning streaks, people become greedy and fail to consider what may go wrong. The moral is: whenever you have multiple positions that are sailing to new highs and virtually all of them are working as planned and sailing to new highs daily, guard against complacency and be extra cautious.SIDENOTE: Look at each market (coin) as a venue - a venue that has a max capacity. In our case the venues capacity, instead of human beings, can only be filled with BTC (trading volume). So, If a coin has already attracted a tremendous amount of volume, volume that is magnitudes above what the logical part of your brain would deem average levels – then that particular market is filled (or close to being filled) to its maximum capacity. Thus the only thing left to happen is for the BTC to come back out of that market – causing the value to plummet. Note: BTC is a buy right now. Pay attention to the price and execute your buys at the low points. Oct - Dec will be very interesting.
Twtter: @Pumper_Ryan follow for daily picks, and updates.