Check out my latest podcast about how to start trading cryptocurrencies.
This episode will cover what you need to get started.
Check out my latest podcast about how to start trading cryptocurrencies.
This episode will cover what you need to get started.
Some of you surely know the sweet feeling of opening the charts in the morning and looking at the green numbers the markets are doing.
Usually, I get up, make myself a strong coffee, and while doing so, I fire up my PC. The charts’ first view still feels dreamy, and as I recheck my exchange to have a second view, my coffee starts to kick in. Bitcoin is bull-running. But why? Why now? In the middle of a pandemic? The answer to those questions is not easy, and to understand this better, let me break it down for you.
Bitcoin has no materialistic value; its value is of a subjective nature. As soon as Bitcoin rises in price, the public’s attention toward Bitcoin grows, which in fact, increases price again. Bitcoins price is solely determined by the demand for Bitcoin due to its limited supply and its non-materialistic nature. But why is that? Why is Bitcoin bull-running now?
This has to do with economic changes happening due to the pandemic. Investors and the public both realize that Bitcoin is a valuable store of value and that Bitcoin might save their money from inflation happening with the fiat currencies. Bitcoin not only an alternative, but it is the only alternative that is out there right now to do transactions or send money around the world. The other is the central banking system of the fiat governments. People realize more and more that their financial freedom is no longer dependent on using fiat. They can now send money around the world without having to pay ridiculous amounts of transaction fees to send their money through an inefficient banking system that has not innovated much in the last 20 years. The real question is, when will the government realize that?
They already did. And that’s why Bitcoin is so unique. The real value lies within the fact that Bitcoin is too important now to not get involved. Governments cannot miss out on crypto because they would miss out massively, not only technology-wise but also because their banking system virtually has no future in the current crypto market setup. They start to understand that. Which is fantastic news for Bitcoin and everything related to blockchain technology. The European government was one of the first in the west to come out with plans to create a Euro based on the cryptocurrency concept. China is already shifting its currency from fiat to crypto. Governments worldwide realize that the crypto train has not departed yet, and there is still time to jump onto it.
Bitcoin is not just superior because governments cannot do much about it except accept it. It is also notable because it gives you financial freedom. Investments into Bitcoin means that you invest money where only you have total control. This makes Bitcoin more valuable to you than to the government. The government will try to introduce their own currencies, which are hopefully linked to Bitcoin. Giving as a new “Gold Standard.” But that is unlikely to happen. They are probably introducing inflationary monetary systems connected to the blockchain to get their fair share of the market. However, that will not change the fact that Bitcoin will still be here after all and can not change it. Even though the government might want you to use their currency, but you know better now. Having money in Bitcoin feels so much better than having cash in the fiat currency system.
After reading this, many of you might be thinking, “another crypto geek that can not shut up about Bitcoin,” but I understand that Bitcoin will not change how governments work in this world. Bitcoin needs regulations. Everything needs regulations. The government should get involved in the regulatory aspects of Bitcoin and other cryptocurrencies instead of inventing a Keynesian cryptocurrency. That would be time well spend since Bitcoin is here to stay.
To conclude, the revolution of Bitcoin will motivate anyone to rethink their financial situation. Not even governments will be spared from this momentum. I dearly want you and your family to be part of this to understand what cryptocurrencies they are about and how they might affect you and your financial life. So, if you want to learn more about cryptocurrencies such as Bitcoin, make sure to check out my website. If you have loads of good stuff on there, I even have a daily podcast to scan the markets for you. Be sure to check it out!
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Alt market is on fire! Bitcoin currently pulling back, trend looks in place. The Pullback is needed, the Alt’s do profit.
It does not matter if you want to trade cryptocurrencies, stocks or if you just want to invest. There are 3 things that everyone needs to have or know before they can even start trading or investing.
Trading and investing are ways to exchange your assets against tangible value. This value is often derived from either a service or a good (e.g., commodities). You either can enter the trade by expecting the value to increase (go long) or decrease (go short), depending on your strategy. To be able to trade your assets, you must use an exchange. Imagine yourself needing an apple. To obtain your apple, you must go to a supermarket or to a local apple-tree to get it. It works the same way with stocks and currencies. Trading can only happen over an exchange. Learn the language of the exchange and make the best deals by mastering it. However, be sure to bring some money, otherwise you will not be able to engage.
So, let me point out 3 things you need, to get started with buying and selling stocks or currencies. Make sure to read every point since I will give some tips on the way.
I want to give you guys a bonus:
Always use a stop-loss – It does not matter whether you trade low-volatility markets or high-volatility markets. Having a stop-loss in place will surely save you a lot of money. A stop-loss is triggered when the price hits a specific value. The stop-loss sets a limited sell order at the chosen value and sells off for you by doing everything automatically. Having a stop-loss is like having a protective dog. It will bark when someone or something wants to hurt you, the same with the stop-loss. So be sure to use one.
To wrap things up, the beginning is not hard. However, staying in the markets for a long time is hard while trading. Be sure to have a strategy in place that protects you and your funds from significant losses, use an exchange that you trust, and have experience with while seriously trading. If you combine these 3 steps, you will become successful in the long run. Ensure that you stay consistent about your approach and do not let yourself be talked into something that does not exist (e.g., the holy grail of trading).
If you need any help trading, ensure subscribing to my email list since I am creating a beginner’s course. Until then, be sure to check out my blog for more useful information to get started.
Bitcoin at a new all-time high. Alt markets still looking strong. Are we going to see some new highs in the Alt market or is Bitcoin heading for 30k first?
Trading is a buzz, especially when trying to figure out strategies. It is tough to stay concentrated with all those traders sharing their own strategies that apparently work wonders. Not being distracted by all the buzz is the key to becoming a profitable trader. Many newcomers think that the more they know, the better. It does not work that way. People sharing their strategies is a good thing, and I do not want to criticize that. Every trader needs some form of plan to get started. Many think it is about that “one” strategy that will make them buckets of money, and I am trying to point out why this way of thinking is not very productive. Even though the truth is quite near to that. There is no such thing as the “one “strategy because the strategy you decide to use is understood on a personal level. This means, the more familiar you are with the strategy you think suits you best is the one thing you should double down on.
Make sure to stick around till point 4 or 5. I will give you some great extra tips from my personal arsenal. At the end of this article, I provide my own routine that you guys can use or even copy. Without further hesitations, let’s get started! Here comes the first one:
Now many of you probably knew about the first 3 points. So as promised to let me give you some tips that improved my trading in no time.
4. Plan your trade and trade your plan – By planning your trade, you really learn to understand what it means to trade. You must think about every move you are going to make before even taking it. This helped me immensely because I stopped taking emotional trades, and it gave me the new thinking of “Did I really think about this?” before hitting the buy button. Making unelaborated decisions while trading is one of the main reasons why many newcomers drop out very fast. So keep your head cool and trick your consciousness into a new state of thinking about trading.
5. Document every trade – This is my favorite tip I can give you guys because it is easy to do. All you need to do is taking screenshots after you made a trade. Make sure to save the screenshot because we are coming back to look at it again at the end of the week. Reviewing your trades is a great way to learn and really is one of the best ways to preserve the experiences you collected while trading. All it takes is time and consistency. If you find the time to judge your successes and your failures, you will understand what it means to take a good trade.
Trading is by no means easy. But learning how to trade wrongly will not help you in the future. Ensure that when you choose a strategy, ensure that the strategy really suits your understanding of the markets. Do not be distracted by all these traders trying to teach you the new way of making your living. Find something that works for you and focus that death-ray on it. Make sure to have a strategy and a plan for every trade you are going to take. I would do it like this:
By using this routine, you will bring consistency and simplicity into your trading. This model does not include a strategy, so you guys can use whatever strategy you feel most comfortable with. Use this routine every single time you execute your trades, and you will learn fast.
If you need help scanning the markets, you might be finding my daily podcast very helpful, or my blog where I post my thoughts on the charts and the markets. Make sure to check out my website for additional tips and tricks.
Bitcoin sitting at a new all-time high, the Alt’s aligned to push further too. What a start into the new year. Let’s end the last one with a BANG above 30k!
This blog post is by no means my death note. I am still trading. Cryptocurrencies are very volatile, meaning that their value fluctuates at dramatic rates. These fluctuations can cause you to get kicked out of your trade very quickly and are a good reason why you must endure significant losses. Moreover, seeing your numbers going red in the beginning is a further reason for frustration. Head up, because this happens to every one of us. In fact, a trader knows the risks and tolerates that they are hard to avoid. But to be successful in these complex markets, having a wide range of experience is fundamental. Many newbies get kicked out of the market because they underestimate their risk, and they set their time preferences to high. Getting rich quick is very hard while trading and usually only happened when there was significant trade value from the beginning. Keep your head cool. Try to minimize the probability of substantial losses. By doing so, the chances are that you stay in the market for much longer. Staying in the market for longer also means that your likelihood of return increases.
What I want is that you can stay in the market as long as you can. So, let me give you five tips that keep you in the market for as long as possible. Be sure to stick around till we get to point 5. I got a bit of extra advice ready for you that you don’t hear that often out there.
Be sure to have that notebook ready because the last tip influenced my trading immensely:
Trading is about reducing risk by failing and succeeding again, and again, and again. There is a good reason why consistency is at the top of this list. The clue to success lies in how you bend the probabilities of success and failure. It would help if you experienced winning and losing money, be sure to learn as much as you can from every piece of information you can lay your hands on and take your time and space to commit. The faster you build your routine around trading, the quicker you become good at it. The better you become at analyzing, assessing, and executing trades in the cryptocurrency market, the easier it will be to trade the market.
Every trader experiences a dead end at some point; getting a mentor will help you for sure. Be careful with doing courses out there and only learn from someone you could eat dinner with. Otherwise, they might not be able to connect with you and teach you how to trade. If you need consultation, don’t hesitate to contact me.
Bitcoin at a new all-time high! Alt market is set to fire. Keep an eye on the charts today in order to catch some of those luctarive trades.
Let us get the terminology straight first, what is a bull run?
A bull-run is an increase in the value of a cryptocurrency over a long period of time. And since the price is rising, direct demand is increasing too. The longer a bull run is, the more people enter the market and join the rally. Good examples of bull-runs are the Bitcoin bull-run in 2018 and 2020 (writing this during the bull-run).
So, is a bull-run a self-fulfilling prophecy?
No, even though this could be considered as a logical assumption, but it is nonetheless incorrect. Since many people enter bull-run thinking exactly that, most of them will be surprised when the price comes down again and sell-off. Let me evaluate this further by listing you 3 reasons why Bitcoin is bull running now at the end of 2020. Make sure to stick around for a reason number 3 since it is the one we all can relate to the best probably.
In the year 2020, many unfortunate events brought it down to this. The world now uses inflation as a tool to “fix” all the problems that we have. This is the reason why 2020 was the year for me where I started to understand what Bitcoin really means to the individual. It is crazy to think that the only alternative monetary system to the one we use to run our world is a magical internet bean with subjective value. But it is the reality, and to have the ability to use Bitcoin as an alternative system makes me more than happy. Luckily, we all live in a time where having Bitcoin is made possible.
This brings me to point 3, so without further holdback:
3. You and I are entering the markets – Since the general awareness about cryptocurrencies increased during the 2017/18 bull-run, the public only starts to understand and grasp the complexity of Bitcoin. We were not ready to understand this new technology in 2018, but more and more people nowadays. The younger generations realize that Bitcoin is the internet solution to a 2020 problem. The financial crisis and now the crisis caused by the pandemic have increased awareness among every age group that value preservation has changed in the past years. This time it feels different than in 2018, where the Fear of missing out was consuming the public. Many in cryptocurrencies have learned from 2018 and are now better prepared for the markets’ complexity and volatility.
So, as I said before, the Bitcoin Bull-run does not work like a self-fulfilling prophecy because its value is based on the individual’s subjectiveness (how much some see value in Bitcoin). And since the public and retail investors do not act out of Fear of missing out anymore, they are likely to keep their Bitcoin for a longer time. Investors and you and I are all behaving more appropriately to the volatile market situation, which is excellent for a consolidating Bitcoin and hopefully a continuous run. This mentality change is crucial because it shows a maturing market situation that will eventually bring long-term price stability into the Bitcoin and cryptocurrency markets.
So, is it too late to enter the market?
NO, NO, and NO. It is never too late to enter the market, but please, never enter the market just for the sake of joining, do your due diligence and only invest if you have a strategy in place that might reduce the probabilities of losing your value. Starting out in cryptocurrencies is hard, but it is doable with a structured strategy and the willingness to sacrifice some time.
To conclude, there are many reasons why the ever-growing interest in cryptocurrencies is not flattening out anytime soon. With Bitcoin set to crack new all-time highs and the growing interest of professional investors and ordinary people bring additional momentum, Bitcoin has a bright future in front of itself. Join this significant venture that combines the opportunity for independence and financial freedom. Bitcoin has outperformed this year, and it will happen in the coming too.
If you need tips and tricks for trading and investing, do not forget to check out my website and follow my weekly newsletter tips and tricks for trading. If you need someone that shows you how to scan the markets, check out my podcast Yves talks Bitcoin on Spotify or YouTube.