Illusion vs. Reality
Being a trader, I don’t have a few extra million to blow or a yacht sitting at the pier. I don’t promote the materialistic lifestyle, even though I have been told to do so by marketers.
I don’t yell into my phone “SELL, SELL, SELL IT ALL RIGHT NOW,” as ticker tape streams from the ceiling behind me.
The average trader makes 300K a year.
I live in a normal house in Costa Mesa, not the boardwalk beach-walk home directly under the shadows of palm trees with beautiful women sitting on my lap overlooking the pacific ocean (my wife wouldn’t like that very much).
Sorry to say, I don’t live the stereotype that so many people have about traders. I have a family, two daughters and I attend there school and supporting events.
So when it comes to trading, sometime its a boring grind.
In reality, when I am actively day trading, it’s a boring activity, that requires a special, non-dramatic mindset:
As a full time day trader, you have to wait for opportunities.
You have to learn to be patient, because patience is the only way to win in the market consistently.
You trade against countless other trades, and the money that you win is always someone else’s money they are losing.
We focus on winning alot. Sometime just small gains.
I spend a lot of my time watching the charts and price movement of various assets.
I drink red-bulls, espressos, but mostly mocha hot chocolate with a double shot of espresso to keep myself focused.
Sometimes I go for a walk, or hit the gym when I’m out of positions during the day, but I often return to find, with great disappointment, that I’ve missed some good opportunities, and it’s already too late to enter.
But my first lesson that I’ve learned by losing money was: you can’t afford to get distracted when you’re trading. The market can go the opposite direction, and you have to get out quick.
If you don’t, it can be really bad for you. So I have spent alot of time on strategy.
I stopped spending all my time in front of my screen during trading hours. I implemented my version of swing trading as a strategy.
Today, No more coffee and red eyes; the old trader’s starter pack.
Don’t forget about the constant stress when you’re not profitable.
I did not always trade crypto. When i started trading crypto in 2016, I was a little crazy about the 24 hour crypto market. This was me transitioning from Stocks and ETF markets. Where I had a opening and closing bell.
The cryptocurrency market: It is a non-stop rodeo!!
For a day trader, the crypto market is a rollercoaster ride that never stops.
You can get amused, or you can get nausea if you ride too much. It requires even more concentration, because it’s open all hours of the day!
Crypto is a stock market on steroids. It took my wife some time to truly grasp that concept.
Things you know about the stock market, let me give you hint, it applies to crypto too; you still need to watch all market movements, but it’s stretched around a 24-hour period.
Its also global.
You have many more opportunities and you have to watch more globally.
Every 8 hours some large part of the world wakes up and starts trading. Asia, USA, Europe - all of them can dump or pump the market, and you have to respect that.
If I have to compare the crypto market to the stock market, I would compare it to penny stocks and the future markets - crypto goes up and down with crazy swings, and if you trade with leverage (which I don’t recommend) you’ll get liquidated very quickly.
I didn’t lose all my money by liquidation, but I know traders who did. How I look at the markets, I don’t do consignment. The second lesson I’ve learned on the market by observing other traders is to never trade on margins.
It’s even more punishing in the crypto market simply because you often see price moving 20% during the day, and your wins and losses are multiplied by that much.
Another thing that distinguishes crypto markets from the stock market is that it’s heavily based on trading patterns. Crypto doesn’t generate revenue, it doesn’t have quarterly reports to influence the price, so the most important thing is the trading patterns, market psychology and sentiment… You need to learn how to watch out for things unseen at a micro level.
You may ask, What options I may have had and what did I choose?
In my situation, I had three options:
To become a 24/7 trader
To put my money into a scam that would eventually disappear.
Create or find a trading tool to assist.
The first option didn’t suit me at all, as you probably understand. I wasn’t feeling any delight from trading every waking hour of the day.
The second option was potentially dangerous for the safety of my funds, as only the trading gods know what can happen when you don’t have control over your money.
Crypto is a very young industry, everyone wants your crypto. The government, hackers, the banks, the scammers. I’m not ready to trust my crypto to any other person.
That left me with only one option: come up with a system and a trading tools to help me do it. Yes, I created the nocharts.io
system. I also created my version of the alligator strategy..
The tools, well, I tried a few of them; TradeSanta, Shrimpy, CryptoTrader, CryptoHopper, 3Commas. By reading the reviews, I guessed these were the most popular bots among crypto traders, and after much deliberation I wanted to implement a swing trading strategy with a bot, so I decided to customize my own.
Let me get back to the story, Lesson number three:
my time is valuable.
I didn’t want to spend it on such things as watching charts all day, every day, so I configured a trading software that now trades according to its predetermined strategy;
It doesn’t need your private keys, as it connects directly to an exchange of your choice, and sends commands to the exchange via the api, with no withdrawal options.
Remember, I like to think about being my own bank, and I limit who I trust my crypto with.
It follows my trading signals. After seeing an opportunity on the chart, it opens and closes the deal. The whole process can take only a few seconds, much faster than any human interaction on a laggy interface.
My trading software, my smart order system, is part of my program, the trader success system. I share these strategies, i use my tools, when I am day trading, swing trading or just executing automated trades with this software.
The crypto market is a place where you can make a lot of money with its high volatility, but the market is just that… volatile.
In exchange for all these profits, sometimes, you have to sacrifice your free time, wake up at night to check your positions, or create a system with technology like I did.
So, the strategy I have now, its supported by the dcg team, this strategy is designed to generate trading profits, and good trades 24/7 since the market is 24/7. And its Automated and does not require day trading.
If you are interested in a trading software?
For my swing trading strategy, I want to be in the market 24/7. I am in the market, making trades, even while sleep, while I am my daughter softball games, while I am on coaching calls.
If a software can help free you, get you more profits, and give you peace of mind in a 24.7 market, why not?
You can have that exact system, its real and you can try it out.
JamarJames.com (Real Name)