#B90X - DAY 36 - The Odds Are Against You!

b90x

#1

When it comes to crypto, most wash out because of 2 reasons:

  • Thoughtless Trading

  • Emotional Trading

  • But there is an even more evil entity against you: The markets are set up so that most traders lose money.

  • Statistically it’s been proven that long term-minded invidividuals not only earn more over time, but they obviously (last longer) in the game!

  • The trading industry is built to keep draining huge amounts of money from the markets and mostly, from retail investors like you and I!

  • Exchanges, regulators, brokers, and advisors live off the markets while generations of traders keep washing out. I’ve seen my fair share.

  • Markets need a fresh supply of losers just as builders of the ancient pyramids of Egypt needed a fresh supply of slaves.

  • LOSERS bring money into the markets, which is necessary for the prosperity of the trading industry!

  • WINNERS in a zero-sum game make as much as losers lose… however, not crypto trading…

  • Winners receive less than what losers lose because the industry drains money from the market!!!

  • Why? We have to consider “commissions” and “slippage,” or the difference between the price at which you place an order and the price at which it gets filled, and retail investors usually exit the market at a worse price than they entered.

  • Commissions and slippage are to traders what death and taxes are to all of us. They take the fun out of life and ultimately bring it to an end.

  • “Better than average” does not work in the crypto world of trading. You have to be a full head and shoulders above everyone else. This is why we built TheBitcoin.Pub! So that you can be the most educated investor and trader out there in the crypto game! This is also why we built the B90X program! If you go through all of the lessons, you will be THE most informed investor out there in the game. I love to win. I want you to win too!!!

  • THE ANSWER? - We’ve already covered it in B90X Day 31,32, and our BITCOIN FOR BEGINNERS THREAD you can find in TheBitcoin.Pub

  • You must set GOALS BEFORE YOU TRADE

  • Go long term

  • Use limit orders

  • Buy or sell at a specified price

  • Keep a record or prices and document decision making

  • Design Trading Rules or Trading System that keeps you disciplined!

-This may sound like repetition, however, it’s so important to remember the basics!


#B90X - Full Trading, Market, and Personal Psychology 10 Part Series
#2

Thanks for so often bringing up Meta… gotta zoom out to see that real picture.

Peter, you love that CryptoNation.


#3

I placed imaginary bets, and I lost money… well I’m just trying to learn how the market works.


#4

This is how you win. Understanding the rules of the game!!!


#5

Peter thanks for sharing this knowledge so much of the market is knowing how it is trying to beat you.


#6

I’m so freaking happy that I found this forum and B90X just at the beginning of my moon-travel! I’m definatly in it for the long run!

Although I have both lost and won during theese 4 weeks since I bought my ticket - losing was the thing that really got me going. It got me eager to know more. At first I thought “What the f*ck am I doing in this cryptoworld?” but my next thought was “I really want to learn, because I don´t want to lose no more. How can I profit in the long run from my misstake?.” And that´s how I ended up here. What a profit! I tell ya! :sunglasses:


What have you noticed about yourself, since you joined the pub & started watching Peter's Videos?
#7

Your post has me jumping up & down with excitement. You encapsulated exactly what so many of us feel. LOVE LOVE LOVE this!!


#8

Haha! I’m smiling and jumping up and down together with you Angela!
Thank you for your wonderful response! I´m really happy to be here with all of you! :kissing_heart::star2:


#9

Hi, CryptoNation

Thanks @peter for a good advice:

Blockquote
You must set GOALS BEFORE YOU TRADE
Go long term
Use limit orders
Buy or sell at a specified price
Keep a record or prices and document decision making
Design Trading Rules or Trading System that keeps you disciplined!

I have created an excel file for all trades that I’m making and emotions, that I’m feeling at that moment. I will keep tracking that information.

Best regards,
Roman Hapatyn


#10

Please let us know your results! Would love to see them!


#11

Each & every B90X’s information is just too strong! I’ve noticed each section is definitely adding an extra layer to what has been taught previously.

There is always someone out there trying to beat you, be better than you. It’s all about mastering the game.


#12

A great reminder. I’ve definitely felt close to washing out, it’s so easy to get off track with all the FOMO and FUD. The Pub and B90X have been a compass for me to stay the course. Thank you. To the moon… :rocket:


#13

I am a goal setting type person so I appreciate and agree with setting goals before jumping in head first to crypto investing. I have multiple goals I would like to achieve before I make my first trade.


#14

Great and relevant content! Thanks for looking out for us!


#15

Yess! This episode speaks true on so many levels, especially where I am in this it really details aspects of trading that I am now aware of and catching on, got a good feeling for. It takes time to learn these things and even more time to apply it successfully. I say this a lot but ‘patience’ is key, that means analyzing before investing, setting those goals, waiting for the prime opportunity to buy/sell, and so on. I’ve been staying in my comfort zone so far, it’s good in a sense that I’m being careful with the choices I make before trading/investing. I think soon I will be wise enough too and more willing to step up my game a little bit, like the saying goes “scared money don’t make money.”


#16

I have grown as a trader a lot thanks to some of the information I have learned here. At the beginning, I used to trade bitcoin/usd, now I only see if bitcoin price has gone up “too much” in order to sell some and buy again at a lower price, but I do this only for very large differences in price.

Now my trading strategy is trading against other coins so I can grow my bitcoin (not my usd).

After I get an amount of bitcoin that I’m happy, I’ll put aside the bitcoin and let some to trade in order to grow other coins.


#17

Still here for the long run. I’ve been keeping records of everything I’ve ever bought, but only in a text file, with price I bought it at in BTC or ETH, and the $ value at the time. That way I have been able to judge when it would be possible to make a profit even if I sold a month later. I do however need to start using your spreadsheets, and I also need to take a long look at figuring out some trading rules I should adhere to.
TA videos are excellent, but it’s always good to take a step back and look at the big picture.


#18

Still here. Staying diligent. Keeping emotions in check. Let’s go!


#19

Couldn’t watch this video, but read the script.


#20

Very much appreciated! I keep a journal of all my day trades in the stock market as well and understand what patterns work for me and which ones that don’t. It’s a steady process, but a great invaluable tool which would help me in the crypto world as well. Thanks Peter! I’m not a fan of limit orders but do understand it’s relevancy. I’d just rather have the parameters in mind and act upon them when they arrive but having limit orders means you don’t have to watch them everyday.