Special Edition ! How to Make and Lose Money in Crypto
I got my first Bitcoin in 2013 and I have been trading in crypto since November 2016 . Seen many shit coins , seen many big pumps and epic dumps.
Made money , Lost money. However, I always focused to improve myself. Started to share my knowledge on social media since 2017.
I read 20+ trading books from Jesse Livermore to Jack Schwager, I examined stock tables, I inspected thousands of charts. As I studied them I began to learn things about crypto / stock movements which I had not seen before.I started to realize that crypto movements were not completely haphazard. Crypto did not fly like balloon in any direction. As if attracted by a magnet, they had a defined upward or downward trend, which, once established, tended to continue.
WHAT I LEARNT 2 YEARS OF TRADING IN MARKET!
1 ) Trade with BTC pair in a bull market, trade with USDT pair in a bear market. Don’t confuse this two charts.
2 ) Less is more! Don’t use more than 3–4 indicators at the same time.
Be an expert on Trend lines, Moving Averages, Fibonacci levels and Chart patterns. Drawing lines are the most important indicators in any market.
3 ) Averaging down is the worst strategy. Averaging up is much better! You should buy coins when they’re on the way up in price, not on the way down.
4 ) Never forget 20 / 80 rule. 80 % traders lost money to 20 % to other traders / investors.
5) Trend is your friend. Don’t fight with it!
6 ) Buy coins/ stocks as much as you can track easily. If you are comfortable to track 10 coins, Then You should buy max 10 coins not more!
7 ) Don’t risk more money than you could afford to lose without ruining yourself.
8) Be so picky who to follow in the market! Over 80% are people are loser. Don’t follow the crowd.
9 ) Every 50% loss began as a 10% or 20% loss. Learn to always sell coins quickly when you have a small loss rather than waiting and hoping they’ll come back.
10 ) Weekly open –close above MA 20 ( bullish trend )
Weekly open –close below MA 50 ( Bearish trend )
Super Bullish : The candle is above MA 20 ( Daily )
Bullish : MA 50 Above MA 100 ( Daily )
Bearish : MA 50 below MA 100 ( Daily )
If it breaks the daily trend line with a strong candle, it is the easiest buy / sell signal.
**** Here, I will explain you how to make money without risking & worrying yourself too much.
Pick 3H or 1 day on the chart ! You only need a few indicators.
How to lose money?
1 ) Follow crypto gurus on twitter ! Watch CNBC news ! Be the part of Pump & dumps telegram groups
2 ) Buy the coin / stock with a hype! Not knowing where to buy / sell . Not Using STOP LOSS after breaking the strong support levels
3 ) See Crypto / Stock / Forex market as an easy place to make money ! If you know the place to become an overnight millionaire , please let me know asap
4 ) Not investing your time / energy and money into education! Hesitating to buy trading books — Join useful events — Attend paid workshop as long you see the value.
5 ) Forgetting that Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Over 90 % coins are dead after the biggest pump in 2014.
How to make money? Let’s go step by step on the chart. Look at the chart!
A : It was a strong support level from the beginning of the coin to Jun 2018. No matter where did you buy this coin ( ICO or the exchange ) , You have to know not to keep after breaking the strong support level. Your twitter / trading-view / youtube influencer is BROKE!
If you didn't sell at this level when it broke “ A “, You dont like MONEY!
If you still dont like MONEY, You can stop reading it!
Later on You got a second chance, You supposed to sell when the coin touched “ A “ support level in Aug 2018, I am sure that Your twitter influencer told you to HOLD!!!
* Smart trader bought when the trend-line is broken and sold close to “ A “ support level. Congratulations you made around 120% profit!
He / She would re-buy if it was open — close above “ A “ Support level. Who cares to pay 10–20 % premium price, If you know the trend is up!
You? I know you didnt sell it, You HOLD! Because, You targeted 100x blindly! However, Why you didn't sell when the coin is broke the support level “ B “ either . NO BRAINIER!
In October, Smart trader bought somewhere close to B support line when the coin is on the first bullish trendline and sold it when the bullish trendline is broken!
You? I know you didnt sell it. You hold! Because, You felt that You already lost everything and It can not go below this level, right? You were wrong again! You lost extra 66% !!!
So, What is next? If you read this long article, You deserve something! Actually, I am sure that You already learnt a lot.
You also know the answer! But, Let me make your job easier.
We are on the latest support level “ I “ . It has been holding nicely since late November 2018 . As long as , it is above you can HODL it . If it breaks the biggest downtrend-line as well, The potential target is 93 % !! It is nice right, Yeah I know.
What about if it breaks the support level “ I “ , I know you dont want to hear it!
FINAL NOTE :
When bear markets are near the bottom, the great majority of advisory letters will usually be bearish. Near market tops, most will be bullish. The majority is usually wrong when it’s most important to be right. Never fight the market — it’s bigger than you are.
The key to staying on top of the crypto market is not predicting or knowing what the market is going to do. It’s knowing and understanding what the market has actually done in the past several weeks and what it is currently doing now.
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