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TRADING CRYPTOCURRENCIES - page 13

It is not a swimming pool, but a shark tank. Learn here how to choose the right exchanges, how to analyze the charts and trading them. Day Trading is not for the faint-hearted so be sure to learn first, otherwise, you will surely lose money by doing it. We will show you how to read Buy/Sell walls, guide you to the best crypto signal groups, and explain how to trade cryptos with leverage on Bitmex. We will provide a Bitcoin price analysis from time to time and check centralized and decentralized Bitcoin exchanges for you. In the market, you have to develop your own strategies to find out if you are bullish or bearish on a coin or token. Trading cryptos is not the same as trading the common financial markets, as cryptocurrencies are still a young market. If you want to learn how to trade the crypto currency market, you need a good knowledge setup, which should contain fundamental analysis, as well as technical analysis like charting, price action, and trend analysis. Due to the high volatility, every transaction contains risk for your trading account - especially if you use financial instruments like leveraged or margin trading. While there are trading courses which can teach you to develop a trading plan and execute a strategy, you will have to work on your psychology as well. We are often trading a virtual currency against another one, so the outcome depends very much on the development of the Btc price and the total crypto market cap. If you want to learn to trade you will have to estimate your risk appetite first and consider then the trading platforms you want to use. As a day trader you can basically gain capital in two ways: Either on a common crypto exchange like Binance or on a mercantile exchange like Bitmex. Different to forex trading, the crypto exchange market is not yet regulated, which brings risks and so you have to act mindfully. Please never invest more than you can afford to lose. We share some trades ore a trading strategy from time to time for demonstration purposes, though we are not financial advisors and these trades are from an educational character, so we don't encourage to copy them. Happy and profitable trading!

How To Get Rid Of A Trading Addiction

in TRADING CRYPTOCURRENCIES

+++Please note: This post adresses addictive behaviour with Smart Options. If you just want to learn more about Smart Options Self Control, please click here+++

Glad you found this post, as you might have clicked on this title or may have searched for a phrase like “How to get rid of a binary options addiciton” and landed here. This means you recognized there is something suspicious with your behaviour. Let me get straight to the point: Many people, which are seasoned traders today, started out first with gambling. I mean you see all these shiny ads, and they scream “MONIEEESSSS” and you take a look how it works and there are just two buttons, up and down. A green and a red one, easy as traffic lights, right? Yes, this is binary options. Its obvious easiness seems to be a no-brainer. A 50/50 chance? What can go wrong here? Very much, unfortunately. I don’t want to get too deep into detail here, the NERD explains it very well in other posts here. Let’s talk about the effect loosing has on you. Loosing a trade, loosing your whole deposit, re-depositing, loosing again and again. Oh what a looser you are, or?

No. Don’t see yourself like this it will propell you even more down!

Getting into this downward spiral is just to easy and many of us experienced that already. When you know your credit card number suddenly off the top of your head, you know something is wrong. You don’t want to learn trading actually, because this takes too long, you just want the quick kick, to try your luck and win. Once loosing, you just want to get back what you have lost, trying it the way you initially lost it. Result: You will loose more. You see how stupid this is, but you do it further. You start doing it more than your actual “play money” allows, maybe you go even into debts and Smart Options become to a money sucking black hole for you. People around you, say you are crazy and you know they are right, but you still act the same way. You see you are doing something wrong, but still do it. This is an addicition pattern. Ask junkies, as casino gamblers, heck, you can even ask cigarette smokers.

Maybe you had a successful series of trades, pushed your account quickly very high (and lost it all again later on) – these are experiences that will strengthen the addictive power, because you want to get that feeling of success again – and that quickly.

You can perhaps imagine that I didn’t pull the above out of my ears – I’ve been there not too long ago, luckily the consequences have been ok with me, as my dayjob is lucrative and I always was able to generate some extra money here and there, but hey, if I now had all these lost money I’could say “Hello” to a Hawaiian girl, putting a floral garland around my neck for at least a month. But NO!, of course I preferred to be the financier of someone elses holiday working over at Stockpair. Why not? Ok, the financial consequences have been bearable to me, personal consequences with people in my life I love have been quite tougher. Finally I went with a gamblers advice center, which was nice but didn’t help alot.
Bottom line is: Been there, got over it, chapter closed.
And here is my personal blueprint how to get out of that bad tune:

1. Be true to yourself and others.

This is crucial, admit to have a problem right now. Admit that something has to change. Without this you will never ever get out of it, and eventually be broke in 6 months, so admit something bad has happend and you lost control. Also be honest to the people around you as this brings in accountability which is very much needed.

2. Exclude yourself from E-Wallets and cancel your credit cards

I know this might sound scary for american people – a live without credit cards?

Well, this is my personal blueprint, so I am sorry to dissapoint you not to have an easy way. You ran into an addiciton, this is not a day on the ponyfarm to get out of it. I excluded myself from SKRILL, NETELLER, cancelled my CREDIT CARDs and wrote an exclusion letter to all providers of instant bank transfers.  This is actually the most important step. Yes, it is annoying, but hell, we ran into something hard to cure – unpleasant steps must be taken. Consider this step as the main thing. Whenever the craving for “trading” a.k.a. gambling returns, your only available option must be a wire transfer. Why? Because you don’t get the immediate satisfaction. If your wish to trade is initiiated by addicition, you want it immediately. Not possible with bank transfer. When I stopped gambling I often had a craving for it. But knowing that it will take up to three days until the deposit shows up, made me refrain from it as no instant satisfaction was available.

3. Pause – Get away from everything Binary Option related

Once excluded delete all the passwords in your password manager, write the brokers to close your account, delete all the binary options pages from your bookmarks, just get out of the scene completely for while. If you want to look for this or that one time, remind you that you currently refrain from binary options sites. Tell yourself it is just for while, not for ever – but now we won’t get back on track.

4. Decide how to proceed

After a few months you will have to decide – a real life binary option:
Option A – Call: Do I want to learn trading from ground and built up knowledge?
Option B – Put: Stay away further from Smart Options.

Depending on what you have chosen, read further:

Option A:

OK, you are still fascinated with trading (not gambling hopefully) and you are interested in it? Then learn the basics with sites like Babypips. You find interest in things like Candlesticks, Pips, Dojis, Bollinger Bands and whatsoever? Then you can learn it – here with us at The Binary Nerd and additionally at the Blue Sky Binary Trading University, which we can vouch for. Open up a DEMO account at Binary.com – they have good features for gambler protection as well in place and DO NOT DEPOSIT. I REPEAT DO NOT DEPOSIT.

Option A is more hard, as you will be confronted with your old addicition. But you have to get on another way on the horse this time. You learn what is behind a trade and how to place a trade based on knowledge. Read the REWIRE YOUR BRAIN article by the NERD for this. You will stay demo for the next months, no false expectations.  Learn it, try it demo and then do it. Already in demo mode try to keep certain limitations like not to exceed a particular amount of trades per day.

Option B:

You mastered a good amount of time already, so why get back? You have proven to be able to live without it – and that pretty well, don’t you? Even it sounds paradox – addicition wise- but it really can be easier NOT doing something, then trying to do it. Stay sober, stay away from everything trading, your life will be fine without it as well, if not even better. Enjoy of not having the stress, enjoy spending 100% of your paycheck for your own needs, no hestitations, no lies, nothing. This is pretty well I guess – so enjoy!

IN CASE OF EMERGENCY / RELAPSE

It can be that you will have drawbacks, addictions are the diseases that are most difficult to cure, so there is hell of work in front of you (depending in which level of addiction you are). There are people doing suicide because they can’t get out an addictive circle, so you have to be carefully with yourself.

At first: Don’t be too hard to yourself, that increases the pressure, increased pressure comes up with stupid actions. Accept that it has happend and go on – repeat with STEP 1.

If you notice that you don’t have the power to get out of it alone, don’t be too proud to ask for help. It is a disease. Binary Option Brokers make use of mechanism in our brain, that can easily create an addicition, so don’t be too hard to yourself, be rational and take the steps that are needed. If my blueprint does not work for you, get some help elsewhere. There is no shame, it is normal. If you break your leg you need to see a doctor, if you get an binary options addiction, you see someone else to get some help. You don’t need to do that alone. When being open with your family regarding this issue , you can ask them openly for their help, maybe even control (like having your wife checking your bank account daily). This will help you out. Most likely they won’t be harsh to you, if you ask them for help.

For external help, please  check this website and take action!

Stay safe! Everything will be good in the end, and if it is not good, it is not yet the end.

You will make it as you control the body that your mind sits in.

Gambler vs Trader

in TRADING CRYPTOCURRENCIES

Trading is a serious thing, but that’s no reason for us to take things too serious at all. Let’s have a little fun here, while we wait for the next good setup to come! Once we pulled the trigger, pushed the button, hit the gopher or to put it simple have put or call chosen, we sit there and watch our trades. Let’s compare the difference between a gambler and a seasoned trader. What happens 60 centimeter in front of the monitor, while a trade is running? Have fun!

The story of trading has two faces. One can just try to be lucky and gamble or beat the game with knowledge.

Gamblers imagination of themselve after the first deposit at BdB:

How they actually looks after their first sessions:

OK – new funds deposited! Let’s martingale our way to success.

Gambler: This really looks like call to me!
Pro: Hmm, I’d take a look on the charts. To me this looks like Gopher BoP.

Gambler:

Pro:

And the price goes in the favorite direction for the Gambler, yieeehhhhaaa

Gambler:

Pro:

And the price goes back to where it was before:

Gambler:

Pro:

And it drops…

Gambler:

Pro:

Wow, price goes back up – what a luck for the Gambler!

Whilst that, Pro was on toilet and looks in the dressing room after his wife:

Then, all of a sudden, a tick in front of the finishing line, a hefty spike…

Gambler:

Gambler: OTM

Pro…

 

Trade Smart Options the Bruce Lee WAY!

in TRADING CRYPTOCURRENCIES

 Empty your mind; be formless, shapeless – like water. Now you put water into a cup, it becomes the cup, you put water into a bottle, it becomes the bottle, you put it in a teapot, it becomes the teapot. Now water can flow or it can crash. Be water, my friend.

This is my favorite quote of Bruce’s, because this is the true nature of Markets. The markets are FLUID and change their flow often depending on a myriad of factors. If the market conditions do not favor your style of trading then you wait until they do, or you learn to trade different styles to adapt with the current prevailing conditions. The best way to do this is to note your results with a journal, where you track the statistics of your trades and the feelings/thoughts behind them. Keep an ever present honest review of your trades and you will build a memory and learn to FEEL when conditions are correct for your fighting style. Newbies will often try to use a subjective/fixed point of view to trade off things that worked recently in the past for them. They will search for perfect indicators/systems/bots thinking after they find them, that they will always make them money! Problem is if markets are ever FLUID and you don’t change with them, you will simply drown in losses or have less then stellar results. I have seen even good traders/signal providers who have no connection to the price action or flow of the market do this. It was so bad at one point, that I had to stop watching them trade, it literally made me cringe. They would see their pattern or setup, then trade it with no respect to the flow of the market at that time, then the market FLOWS on by them, taking their money in tow. So go with the FLOW and “BE WATER, MY FRIEND!”


I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.

This Bruce quote points to the art of mastery. Repeating a setup over and over and over again while learning when and when not to apply it is the art of mastery. This often is where patience and true discipline is learned, doing things that may seem counter intuitive at first, yet yield an over all positive result in your trading. In my REWIRING article I point this out. Along with this the use of a demo account or small funds to practice your learning of a method/setup is very key. Mistakes here are ok to make as your focus is the process to gain the patience/discipline needed to master the techniques you wish to apply. Remember trading is a skill and the best fighters practice often and long. Stay focused on one method/style to start until you feel you can do it in your sleep. Simply put “PRACTICE PRACTICE PRACTICE!”


The great mistake is to anticipate the outcome of the engagement; you ought not to be thinking of whether it ends in victory or defeat. Let nature take its course, and your tools will strike at the right moment.

Bruce is telling us to not allow our desires/fears to dictate your actions. In trading binary options with timing being so key, one must not allow their THOUGHTS to interfere with their SKILL/FEELINGS. Now this is ambiguous I know. What do you mean thoughts? How are they any different from my feelings? Ask yourself a simple question next time you trade, about your FOCUS and where it is located. Do you have a setup and are you focused on the chart/information of what the markets are telling you? Or are you instead thinking about making a winning trade or fearing a losing one? Many will do the later and TRY to win or stay out of setup out of FEAR, completely losing objective reasoning of the setup or market conditions they should be focused on instead. This leads to all kinds of errors that take them away from any logical application of the very skill they are trying to apply/learn. They chase, become reactionary/subjective and this is the road to hell for a trader. Stay focused on finding good trades and what is needed to make them, not your desires or fears which will have little or nothing to do with the charts before you. Stay focused on the TRADE not the outcome which you have no control over. We can only control the making of good trades.


Patience is not passive, on the contrary it is concentrated strength.

Watch Bruce fight in his old movies, here is teaches us the art of waiting. He always waited for his opponent to attack so he could strike and counter them with perfection. Trading Smart Options profitably is very much the same. We wait and wait and wait, sometimes it seems forever for the right moment to strike, putting defeat beyond us best we can. This takes great strength to stay focused on the market and setups we trade, not allowing our desires/thoughts to interfere and rush/chase trades that do not fit with our objective of profitable trading. The discipline of this is concentrated strength pure and simple. By following this principle in nature you will allow yourself to learn how to FEEL/FIND the best setups and best timing for them.


A fight is not won by one punch or kick. Either learn to endure or hire a bodyguard.

If you wish to learn to trade than you must allow yourself to lose and accept losing as part of the game of gaining knowledge. Start with a demo/practice account or very small funds. It takes time and skill to learn to trade profitably. As with any profession. You may in the start loose many times and feel beaten and abused by this process. Those who do not allow for this will simply not succeed. Far too many want the gain without the pain. The other option is to hire somebody to teach you as there are many services out there that offer this, yet in Smart Options Education and Smart Options Signals there are few who are honest or really have anything to offer outside of taking your money. In the future we will feature services we view as a benefit to binary options traders who seek help in learning to trade.

How to blow your smart options account in one day!

in TRADING CRYPTOCURRENCIES

#1 Think you are smarter then the market. Smart Options trading is super easy after all, just click a button and you are rich!

#2 Find the “Holy Grail indicator/system.”

#3 Use 10 to 20% per trade or more!

#4 If you lose a trade then double up heck triple up, forget that go all in on the next trade! You can’t lose!

#5 Re-deposit start step #1 all over again, rinse and repeat…

How to not be a Smart Options Scam Victim

in TRADING CRYPTOCURRENCIES

 

Due to the simple fact the Smart Options space deals with money you will get an endless array of scammers trying to dupe you out of your cash. I am going to teach you have to avoid this starting out and if you are a “Newbie” then listen very very carefully as this is 100% for you! Smart Options by themselves are not a scam, but some brokers, marketers, signal providers, account managers and system providers will treat them and you like the common criminals they are. They have no remorse or care and have a very simple straight forward goal and that is “TO GET YOUR MONEY!!!” that is it that is all they want to accomplish, from there they will spin tales and lies here to there and back again as long as you believe anything they say and will often wrap it in half truths to get you to buy their lies. In the end they are nothing more then lies and since you are new to trading I will ask they you take great care in starting out as you don’t know how most of this works yet and need to be educated so you don’t become one of these conmen’s statistics.

Rule #1 – Never invest money you can’t afford to lose.

This is the most basic fundamental of investing/trading there is. You are a newbie and do not know what you are doing so why would you risk large amounts of money that maybe you need or can’t afford on trading when you can lose some or all of that which you invest? The answer is you “DON’T” anybody who tells you the opposite is out to get your money more then likely. Always start small and build until you are experienced enough to handle the risks associated with trading. It takes months and sometimes years to become a profitable binary options trader. Some never do because they do not listen to the wisdom of the market. In any endeavor you are not sure of always start small and build that way if you lose you can always start again with limited exposure. Simply put as a trader “LOSE SMALL, WIN BIG” @ TheBinaryNerd we are here to help show you how!

Rule #2 – Never allow a broker to trade for you.

Under no circumstance whatsoever are you to allow a binary options broker to trade for you! Any broker who offers you trading advice or wishes to trade for you will never be seen on “TheBinaryNerd”this is a pure conflict of interest as when you lose the binary options broker wins. Also if they wish to tell you they only make money when you win don’t believe that for a minute as it is a complete and absolute lie. They like to pretend they have advanced hedging/liquidity/offsets of customer order flow but in truth the vast majority of these guys only have risk management departments that will try to give you bad fills, manipulate prices against you, delay entries and all sorts of dirty tricks in order to help you lose as they know only one thing in how they work “Tell you whatever you need to hear in order for you to “#1 DEPOSIT” & “#2 TRADE”that is all they care about. From there it is a pure coin flip of statistics of which will balance out on average 50/50 and since you make only 70-80% on a win for ever $1 traded and lose 100% on that same $1 traded. In order to come out ahead you are going to have to win over 58% of the time which will take skill to achieve. The first sign of a scam broker is them calling you repeatedly asking for larger sums of money and to trade on your behalf. Simple solution here “NEVER PICK UP THE PHONE!” No broker should call you soliciting funds in the U.S. that is against the law and it should be world wide too imo. Hang up on anybody who calls from a broker and BLOCK their calls.

Rule #3 – Start trading with a demo account first to prove viability and learn how to trade.

If you are just starting out trading the best advice one can give you is to first use a DEMO account. If you can’t make money with a demo account that will go even more so with a live account because for most a funny thing happens when trading real money, they become afraid. In trading fear and greed are your biggest enemies. If used correctly they both can also be your best friends, I will go more into that another time on TheBinaryNerd. By testing out a signal service, broker, robot, system or method/technique you might have picked up, you then can gain knowledge and experience to see if it has any viability and works for helping you become profitable. That is the only goal of trading to be profitable and in order to do this you need experience and a risk free way of testing out your ideas. So if you are newbie accept you don’t know what you are doing and use a demo account to learn to trade in the first steps of your journey into the binary options trading arena.

Rule #4 – If a system/software/bot/trader requires you to deposit/use real money don’t do it. It breaks Rule #3!!!

Many scams have a very simple pedigree that gives them away very quickly and that is the “REQUIRES DEPOSIT” often these people once they get you to sign up to their broker will ditch you as they accomplished their goal of getting you to deposit. There is a very good reason as to why this is, and that is every time you deposit using their affiliate link they get paid from a few hundred to over $800 on their scam system/broker/software/robot/signals. Many of them will tell you it is free, but the truth is it is not as they are being paid for your deposit and more then likely the broker is ok with this because he has plans to get you to deposit more as you lose your money using their system/software/robot/magic penis fairy or whatever tall tales they will be trying to get you to believe. You are a newbie and to them they will look to take advantage of your lack of knowledge and appeal to your greed. They are very well skilled in this and if you just follow this rule they can’t scam you at all. A legitimate service will allow you an option to deposit in place of a subscription fee on a designated period of time. If they have no trial period or subscription service then the odds are very high they are a scam and best to avoid.

Rule #5 – Never accept a bonus that requires turnover and traps your money from being withdrawn.

This is a more tricky one as most people want free money! I mean who does not right? The only problem is that there is nothing free about it and often it is what a scam broker will use to lure in deposits of newbies. If they are one of the real scam brokers then you will likely never see this money again. If you read the T&Cs = Terms and Conditions of the brokers website this will tell you what you need to know. Most require 30x to 50x your deposit and the bonus amount in order to withdraw. That means if you deposited $1000 and had been given a 100% bonus of $1000 you would need to trade $60,000 to $100,000 in volume before you could ever withdraw a dime of this money. Now as a newbie you don’t know what you are doing so the broker is betting you will #1 never reach the turnover amount thus they get to keep your money, or lose the money in the attempt of trying to reach the turnover requirement. Only experienced traders should ever attempt to take a bonus from a broker and even then it is most often not wise. There are segregated bonuses which do not trap your money from being withdrawn that we will go over in the future on TheBinaryNerd, so stay tuned!

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