Profitable trading is about finding your edge and exploiting it consistently over the long term.
Did you know that you don't have to know which way the crypto market will move to make money?
If you're new to the crypto trading game, you might think that this is a ridiculous statement to make.
I mean, a trade makes money by trading in the direction that the market is moving.
If it's not going your way, then you aren't making money, right?
While this is correct to some degree, you're probably thinking too short term.
Adjust your crypto trading mindset from short to long term
Profitable crypto trading isn't about taking one single trade, risking your entire account and then either making money or losing money.
Profitable trading is about finding your edge and exploiting it consistently over the long term.
You have to alter your mindset from worrying whether you're right or wrong in predicting which way a market will move, and instead make emotionless decisions that line up with your trading system.
If you've already done the back-testing of your trading system, then you should be confident that if you consistently stick to your risk management profile, then you're going to make money in the long term.
Trading isn't about being right or wrong.
It's about making money.
So fuck what your online followers think or say when they work out that you actually don't know which way that the markets are moving.
Just find good levels to manage your risk around and make trading decisions with long term profit goals in mind.
Crypto trading is an industry of charlatans
Being involved in the forex game for a long time, I see the exact same charlatan bullshit that plague's the currency trading industry, right here in crypto.
You need to seriously be cautious of anyone who is preaching what they think the market is going to do with certainty...
And be even more cautious if they are charging you for the privilege of hearing that opinion.
Can you see the conflict of interest that may arise when an analyst needs to be right TODAY, in order to attract new clientele?
Don't get caught out by opinionated, ego-centric analysts that simply have to be right.
Once again, it's not about being right or wrong, it's about how much money you make.
Don't ever lose sight of this.
Successful traders and even investors, don't have an ego.
They simply can't afford to worry about pinning their reputation to any particular market direction or trade because they know that they have to be wrong to make money by trading their edge long term.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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