The Road To Becoming A Shark In The Crypto Markets, Part 1.
The goal of this series is to show you the right and wrong way to do things. These lessons will drill to the core of it all and cut through the false information spread around in the crypto scene.
As you know, our beloved crypto scene is full of scammers, one-hit wonders, and people who have been trading for a matter of months with marginal success claiming authority for themselves. It is very hard for newcomers in the crypto scene to differentiate the good from the bad. Through no fault of their own, other newcomers will perpetuate myths to people they talk to for various reasons. It is very easy for newcomers to take hold of simple concepts which, in the end, will only benefit seasoned traders.
The blockchain technology is revolutionary, that’s an entire topic of its own. That said, everyone is here to make a monetary profit. Baby boomers had housing, Gen-X had Dotcom, Millenials have Crypto. This is a once in a lifetime opportunity to achieve financial freedom, and it’s essential to learn how to navigate the markets and move in the field.
To ensure full understanding, as there are some new people to the crypto scene in the broadcast, context in this series will be built from the ground up.
What Is Crypto Trading And Why It Is Indefinitely Crucial?
Almost a decade ago the founder of Cryptol0gy, R1S1N6, was in a position where most people are today. All he had was a hundred dollars on his father’s Forex account, and all he could dream of was turning that into a luxury car and a Rolex watch. While those things seemed unattainable at the time for him, he has shown that it’s possible. It was possible in the regular financial markets, and now with crypto, it’s easier than ever. It won’t happen overnight, but it can happen faster than you might expect.
There are a number of ways to make profits with crypto but trading is the foundational cornerstone for making money in any market. (This topic will be discussed more in-depth in the near future.)
The Cambridge Dictionary defines trading as follows:
— ——the activity, often on the internet, of buying and selling financial instruments, reacting to changes in prices in order to make a profit:— — —
This definition is critical for understanding this post — re-read it a couple times.
Crypto trading is multi-dimensional. As commonly believed, the abilities required for trading cryptocurrencies are not based on your individual intelligence quotient (IQ), nor the ability to draw complex looking charts.
There are many applications of trading. If we drill it down to the core of it, there is a clear set of skills that are essential for achieving your monetary trading goals.
- YOU AS AN INDIVIDUAL TRADING THE CRYPTO MARKETS
First, you need to decide what kind of a trader you want to be. To be able to make this decision, you need to have an understanding of the different types of trading, and then consider them in relation to the amount of time you have at your disposal.
The 4 trading types:
Scalp Trading (ST): very short-term, fast-paced, repetitious
Day Trading (DT): short-term, day only, no overnight positions
Swing Trading (SWT): short to medium term, volatility based trades
Position Trading (PT): long-term, trend-based
All of these are measured by the same standards and they are simply different means to the same end: making a profit.
What sets people apart from one another, is that there are those of us who are consistently profitable and then there are those of us who are one-hit wonders and keep consistently losing.
The statement above is not politically correct, but it’s time people stop pretending everyone is making an equal amount of profit. The idea of everyone being equal in the markets definitely stems from an empowering source. However, the idea of everyone having roughly the same ability and probability of creating and following complex systems and processes that produce real financial results, is patently false.
By now, you have a general sense of:
- What trading is
- What kind of a trader you can be
- How the performance of a trader is measured
2. BEING CONSISTENTLY PROFITABLE
The statistics of being profitable varies heavily between individuals. Reasons are many — default trading habits are mostly learned impulses from the environment throughout one’s lifetime. This results in the following:
Most of what people are doing is blatantly incorrect by default.
Different people have different beliefs and habits by default.
That is also the reason why following random advice you hear online will not produce the results you desire simply because that advice is likely not suitable for your current stage of development.
On the other hand, profitability is proven to increase within one individual with amplifying changes in education. Simply put, proper education is the single most important factor in becoming a profitable trader, a shark.
3. BEING AHEAD OF THE CURVE
The second most important factor in becoming a shark is being ahead of the curve.
Let’s run through a dystopian metaphor:
Imagine a world where there is only one way to make money: by lifting weights. Every day all the people in the world are lifting weights, and people make money by doing so.
Imagine further, the most advanced weightlifters in the world are growing fast and the share of money going to most advanced weightlifters is increasing.
Over the last 30 years, a number of new and expensive doping drugs and technologies have appeared that are undetectable from tests, are healthy, and give a major advantage in weightlifting.
Moreover, in the next 30 years, many new result driving enhancements will appear. They are expensive by nature, and only the people who are already winning at weightlifting will be able to afford them. The best weightlifters are sharing the state-of-the-art tools and methods with other top-level lifters. In a world like this, the “top inner circle” would be constantly winning and would have a major advantage over the masses.
How is this relevant to making money in the crypto markets?
Replace the words “lifting weights” and “weightlifter” with “advanced analytical tools and developing a skill set” and “trader”. Suddenly, the metaphor above turns exactly into what the world is today.
Here is why:
A number of analytical trading tools and methodologies that can significantly enhance decision making and the ability to make profits in the crypto markets already exist. These are not explained anywhere publically, as people generally prefer simple things. The things that lead to real results over a long period of time are complex and time demanding. This is why 99% of people won’t use them. This in and of itself opens up a major opportunity for the people that are willing.
The proper appliance of these tools and methods directly lead to significant financial, emotional and intellectual wealth. Making a consistent profit in the markets is in your control only when you have a deep understanding the of the macro and the micro, you understand the bigger picture, as well as the countless nuances in it. You need to have the ability to interpret and use all the key variables together. Most people fail exactly here, they put too much emphasis on individual nuanced points while only vaguely understand the macro picture. This is guaranteed to result in failure over a longer period of time.
The goal of Cryptol0gy is to set you on an upwards spiral. In a market full of people looking to get rich quick, we help individuals build the skills and expertise to create life-changing, long-term wealth using the outstanding opportunities in the Cryptocurrency markets. After having coached hundreds of people to become successful and profitable traders in our private community, we want to enable the same for you.
Now you have a basic understanding of crypto trading. In Part 2 we will dive deep into the practical how-to, the step-by-step process to turn into a shark.
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