I really don’t like it when people pretend like trading is some kind of genius level white-man magic.
Today I’m gonna show exactly how I keep picking these altcoins right before they skyrocket… so you can do it without my fat ass.
It helps to understand things from first principles.
Investors sell the things they hate and keep the things they love.
You know how this crypto market goes, right? There’s always something hot to buy.
Some barely not-a-scam shitcoin that for some reason is getting all the love, you can’t load your feeds without hearing about it.
Imagine that you were some degenerate altcoin trader.
You hear about this new coin.
Everyone on discord and twitter says its the next SOL, and you’re convinced.
But you gotta sell something out of your portfolio to buy something, so what do you sell?
You sell the shit you hate, you keep the coins you love.
That’s the whole game, right there.
Once a coin becomes “something they love”, they formulate an emotional attachement to it.
I’ve experienced it too. I’ve got my biggest position in WOO and if it does what I think it can do then that’s my retirement paid for in one trade.
It’s my lifetime dreams, right there on a plate. The beach house right on the beach in Sunshine beach like I always wanted… if a few things go right.
So close, I can taste it. Millions from a single trade.
Heady stuff, the stuff of dreams.
Even with me, it distorts my thinking… so imagine what it does to inexperienced traders.
If you can work out which coins are going to own that special place in investors hearts, you can take big bets and hold them for big wins.
Less people sell, because it’s a lottery ticket. Could go to anything.
And once less people sell, the price starts going up.
Slowly at first.
But when it reaches an inflection point, where all of a sudden that appeal becomes obvious… that’s when you see an explosion in price.
We had a perfect example yesterday. And everybody got paid.
This was the chart of WAXP yesterday. Butting up against what should have been resistance at all time highs.
A technical analyst could have made a case that we were going down based on all kinds of lines and squiggles and indicators.
Struggling into resistance – my hairy ass!
If you know price action, in the last week it showed all the telltale signs that it was about to break out.
Specifically…
– The very orderly form of the recent rally with a long stretch of bars where the sellers couldn’t push it below the low of the previous bar
– Several large upper wicks, draining selling pressure from weak hands.
– The recent pullback was very weak and only 3 days before bulls took over.
We had a lot of evidence the bulls were going to take control and the sellers were exhausted.
It was likely that this would push price up to the highest price ever.
Triggering the “idiot switch” where this trade really could be a massive massive winner, and therefore this coin cannot be sold without risking a bad feeling from missing out on big gainz.
And something you need to understand is that most of us hate losing way more than we love winning.
So people hate the idea of selling something which then skyrockets because it makes them feel stupid.
And not looking stupid is a surprisingly high priority for most people.
Which means less people will be selling it.
And more people will be buying it.
Now, how do I *know* all this? I mean I’m a shitty fortune teller, historically speaking.
You see, most of the time a chart breaks out, then fucks around and pulls back a bit.
It’s why buying breakouts is emotionally hard, you always feel like you are too late, buying the top.
It’s only 30% of the time that a chart doesn’t retest the breakout, so when we see a clean break you can be pretty sure that you’ve caught a runner.
A dream trade that takes off, and doesn’t look back.
In fact my idea of a dream trade isn’t one that makes you the most money.
It’s the one that fucks you around the least. Not spending months waiting for it to do something. Not suffering through a deep pullback.
When you get in a trade and make money right from the get go and keeps making more its just wonderful.
Nobody wants to sell the kind of awesome coin that runs and runs and runs.
And that’s how I’m doing what I’m doing.
I’m not some kind of super brain. I just know price action well enough to read the signs that sellers are being exhausted.
And I understand the psychological point where a coin goes from a trade to a dream.
I use this to get in very slightly ahead of the point everyone else figures it out.
Just a couple of days early is a big deal since they move so fast.
That’s all I do.
But it works like a motherfucker (not thanks to me, it’s just a bull market making me look better than I am).
So this is our trade yesterday (VIDEO). Bought at .58 its sitting at .92 the next day
I’m planning on doing this about 100 times again over the next year.
It’s shady, not gonna lie.
I mean who knows what in fuck WAXP does, if anything at all.
I doubt it’s the new bitcoin or the future of money.
Zuckerberg can sleep safely, WAXP isn’t coming to take down facebook.
It’s a shitcoin, obviously.
But that makes no difference. A passionate shitcoin owner is no different than a passionate bitcoin holder.
And that’s all you need to know, really.
As long as the rising tide keeps floating all boats, even the shitcoins.
So if you want to get involved, just hit reply and I’ll get you fixed up
Scott