Hi there! I am Frankwood. I’ve worked for a long time in trading and asset management on stock and commodity markets and decided to open this topic after spending more than a year on trading in cryptocurrency. If you have few minutes to read my post, then I’m sure you will not waste your time!
My experience in the crypto coincided with on the most interesting periods: when everything was growing rapidly and then falling. I managed to earn money, but the people around me at some point were in the black, but then everything got very bad. In the end, from a long-term point of view, almost everybody lost his or her money.
I spent a lot of time talking with the victims and figured out what stops people from trading successfully. It inspired me to create my own product that will help people to solve their problems and show you how to trade so that your result remains positive on a long-term basis.
I have more than 15 years of experience in trading and asset management. I came to this market already well understanding the mechanisms and methodology. I’m not one of those guys who decided that they were experts, earned by chance on the currency rate increase in 2017.
In this post, I will try to explain what prevents people from earning and at the end, I will offer my solution to this problem.
A newcomer, wondering how to earn money on trading, gets to the websites and channels of a very dubious nature. Owners of those web resources promise good profits if you use their trading recommendations. They are also called “signals”. Studying different providers for a long time, unfortunately, I have not found any really honest and worthy provider. Perhaps some professional players who are ready to share their skills just did not catch my eye, but I can say that the vast majority of advisors are “in a different boats” with their subscribers. Therefore, I will speak about this dominant majority.
In fall and winter last year, everyone observed the real growth. In this context, the channels that give recommendations attracted an audience and became famous. However, following their signals, you will lose money. And here’s why:
Their statistics are lies (bullshit). With no exceptions. They use some tricks to make everything looks great and promising.
For example, they:
- overstate results by signals
- hide unprofitable signals
- summarize the profits on transactions, neglecting the elementary rules of statistics
- and so much more.
And the bottom line! They do not compare their results with the market. It turns out that it’s better just to do nothing and buy bitcoins or follow some index than to deal with this whole nonsense. In that way, you will either earn more or lose less.
The signals are tied to Bitcoin, not to the dollar. If you want to earn now, then you need to build a trading strategy based on the dollar. There is no point in increasing the quantity of the instrument, which has strong volatility and cannot yet be applied in real life. We all count on the fact that one day the cryptocurrency will take the dominant position in the money turnover, and we will not witness how the central banks manipulate the exchange rates. But we continue to pay off with fiat money in everyday life; they build the assets and savings.
Discussions are impossible. It’s like news on TV with no feedback. For obvious reasons, there is no discussion of signals.
Manipulation. For example, selling their coins to subscribers. They choose a coin with a low volume of trading on the third-tier exchange. Then, for some time, they buy and sell it from each other each time for a higher price, boosting the coin rate. Then they recommend their subscribers to buy these coins and, as a result, earn money.
Their job is just to get your money. Faster and as much as possible. So you often hear about a lifetime subscription. In a way, it is logical :) When I do not have confidence in the quality and long-term quality of my product, it is better for me to take money for it immediately and not to have the risk of refusals, to maintain the quality of the product and generally do something. As a result, often these channels are of no use to the subscriber. Totally. You will not learn anything and only lose money.
You probably noticed that when the total growth stopped, most channels ceased to be active, while the others formed ICO pools. Again, we see the professional behavior, but only in getting money from users.
There are websites with channel ratings and review articles, where the editorial office of a blog or magazine evaluates their work. They are created by the same people, and they actually recommend themselves. One person can own several channels at the same time and manipulate their users.
The number of their subscribers is not real. Most of them are “dead” bots.
In addition to signal providers, exchanges themselves fool the users, manipulating the exchange rates of different coins, especially their own. Sometimes market majors make a deal among themselves when and how things will happen.
ICO is a separate topic; I can answer the questions about it personally. In that topic, everything ends very badly for those who are not aware of the nuances.
It’s not surprising that a new user always loses money. After all, the whole “system” is set for this. No one needs newcomers to earn money.
Thanks for reading and I hope this post was interesting and useful for you! I will be also happy to answer your questions in comments.
