- Joined
- May 10, 2018
- Messages
- 212
- Reaction score
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The INTRO
I initially began my journey as a dropshipper and enjoyed a decent income. However, I faced suspension, which led me to create multiple eBay accounts in an attempt to secure my earnings. It was in 2017, when Bitcoin skyrocketed from $2,000 to $20,000, that I realized the potential in cryptocurrency and wanted to be a part of it. I joined various "crypto signals" groups, hoping to capitalize on the market's success. While I did experience some profits and losses, what intrigued me the most was that the owners of these groups, who were neither professional traders nor fluent English speakers, were making unrealistic amounts of money. This piqued my curiosity, as I wondered why I wasn't a part of this seemingly lucrative opportunity.
Upon requesting to join a group, I was provided with the admin's BTC address. Intrigued, I decided to check the wallet on the Blockchain and was astounded by the staggering amounts I witnessed—$2,000, $3,000 per day. One crucial aspect that caught my attention was that these funds couldn't be frozen by platforms like PayPal or other payment providers. This realization solidified my conviction, and I became absolutely certain that this was the path I needed to pursue, without a doubt.
During that period, I was juggling approximately 303 Instagram accounts engaged in follow/unfollow activities, earning me minimal profits as I directed the traffic towards Ogads, a popular choice among newcomers, generating around $0.03 to $0.02 for each visitor. However, the night I joined the admin's group by paying $300 worth of BTC, I had a moment of enlightenment. Witnessing the substantial funds he had accumulated, I couldn't help but question myself: What was this person doing that I couldn't replicate? He lacked coding skills and his profession didn't demand any specialized expertise. It appeared that anyone could achieve what he did with minor adjustments here and there. That's when I resolved to establish my own signals channel, charging a mere $50 per month initially, just to kickstart the process. You can only imagine the potential earnings I anticipated, leveraging my 303 Instagram accounts to drive traffic towards my own services.
Within a week of joining the group led by this person, I made a significant decision to redirect all of my Instagram accounts solely for the purpose of driving traffic to my crypto signals channel. This shift marked my transition to becoming a full-time participant in this venture. Initially, I harbored doubts since I had limited knowledge about cryptocurrencies. However, my approach was straightforward—I had to make educated guesses on whether a coin would rise or fall. Whenever a coin experienced an upward trend, I promptly updated the channel, showcasing my supposed success as a trader. On the other hand, when a coin declined, I simply chose to remain silent and not reveal any information.
As part of my journey, I also became a member of several reputable crypto signals groups and followed their trading recommendations, as expected from someone engaging in black hat practices. However, as I gained more experience in the field, I realized that this approach was morally questionable and lacked integrity. Consequently, I made a conscious decision to discontinue copying signals and instead began offering my own insights and analysis. I aimed to provide value based on my own understanding and expertise.
Furthermore, I actively sought insights from real professionals by regularly visiting Tradingview. This allowed me to enhance my understanding of the market dynamics, resulting in increasingly accurate trading predictions. As my skills sharpened, I became proficient in my craft, attracting a steady stream of clients who were willing to pay a premium for my services. The satisfaction of my clients served as a testament to the quality and effectiveness of my offerings, further fueling my success.
I dedicated a significant portion of my time to learning about algorithmic trading and gaining insights into how influential market participants, known as Whales, manipulate the markets. This endeavor became a primary focus as I aimed to deepen my understanding of market dynamics and uncover strategies that could potentially provide an edge in trading activities.
I employed an Analyst using $1000 per month from the profits of the signals group. I instructed them to manage my Tradingview account and publish their analysis on my behalf. This strategy resulted in a significant increase in targeted traffic to my Telegram channel. Additionally, I gained an advantage over other traders by using my marketing skills. To further enhance my visibility, I directed my developer to create a bot that would generate likes and comments on my Tradingview account. By manipulating the algorithm, I successfully propelled my account to the top, leading to a surge in subscribers on my Telegram channel.
I expanded my operation beyond Instagram and Tradingview by adding 500 Twitter accounts, and I became fixated on driving more traffic. When the new Bull run of 2021 began, I experienced unprecedented profits from my crypto signals group, exceeding my wildest expectations. However, instead of bringing positive outcomes, it had the opposite effect. Going from making $200-250 per day (in profits, not revenue) to $2000-3000 brought unforeseen challenges. "Living the dream" quickly revealed itself to be far from reality, and I realized that it was all just an illusion. As I reached the pinnacle of success, I couldn't help but reminisce about the days I spent tirelessly working trying to find ways to make money.
When I witnessed an influx of funds, it brought me great joy. However, I soon realized that my happiness stemmed not from the money itself, but from the sense of having finally solved the last part of the puzzle. This realization left me feeling disappointed and foold. It became evident that I had been influenced by the prevailing belief in Western culture, which suggests that having money is synonymous with happiness.
I longed to return to those earlier days because I found joy in the hustle, the process of figuring things out, and constantly learning. Ironically, the abundance of money became a curse for me. Whenever I desired to enhance my marketing skills or acquire new knowledge, a nagging thought would arise, saying, "You have enough money now, so you don't need to bother with such things."
On a particular day, I had an epiphany that I needed to refocus and be more realistic. I realized the importance of building meaningful things rather than getting caught up in parties, fleeting pleasures, and superficial displays. I understood that the things I saw on screens were not the keys to true happiness.
From that point onwards, I made a conscious effort to shift my mindset. Instead of pursuing extravagance, material haveions, and temporary indulgences, I committed myself to personal growth and creating valuable products. I prioritized having time for introspection, deep thinking, and exploring the realms of the world and philosophy. Lamborghinis and luxury became my number one adversary, as I recognized their potential to distract and hinder my progress.
Mark Zuckerberg's choice to wear the same shirt every day and not indulge in luxury cars is rooted in a deeper understanding. He recognizes that flashy haveions can be distractions and may invite unwanted trouble and attention into one's life. In this context, there is a parallel drawn between a person who lacks financial means and a wealthy person who seeks attention. Both can be considered poor because actively seeking flashy things implies a desperate plea for attention.
Ultimately, the difference between someone who begs for money and someone who craves attention is minimal. Both can be seen as beggars in their own right, with one seeking financial assistance and the other relentlessly pursuing attention. This analogy challenges the notion that material haveions and external validation hold true value, highlighting the emptiness of such pursuits.
What is the functioning mechanism of the Cryptocurrency market?
To enter the realm of cryptocurrencies, it is essential to understand the operational dynamics of the crypto markets. One crucial aspect to grasp is the influence exerted by market makers. According to Investopedia, market makers refer to people or member firms of an exchange who engage in the buying and selling of securities for their own accounts. Their role involves providing liquidity to the market while profiting from the disparity between bid and ask prices. In the context of the cryptocurrency market, market makers, often known as VC (Venture Capital) firms, act as sponsors for crypto projects, exchanges, banks, and other entities within the industry. These firms secure substantial funding from investors who may not have extensive knowledge about cryptocurrencies. Subsequently, they use these funds to invest in early-stage projects, akin to the way Grant Cardone raises money from investors to acquire more properties.
Market makers play a pivotal role in the cryptocurrency market by haveing privileged access to non-public information and exercising control over price manipulation. They are responsible for providing liquidity to the market, as well as withdrawing liquidity from it. Consequently, person traders do not have the authority to dictate price movements. Instead, person traders must adopt a psychological approach and strive to anticipate the actions of market makers, also known as whales or VC firms.
When traders discern a market direction, their objective is not to oppose it but rather to align themselves with it. The prices of specific cryptocurrencies are consistently influenced by market makers, or whales. Therefore, when examining charts, traders should ponder the question, "What will the market makers do next?" A firm, in this context, typically refers to a company that trades on behalf of affluent people and earns a commission from profits in exchange for managing their funds.
To summarize, the determination of market prices rests in the hands of market makers, not person retail traders.
In what manner do market makers exert influence over retail traders?
When market makers engage in buying activities, their intention is for retail traders to sell. Conversely, when market makers sell, they aim for retail traders to buy, allowing them to liquidate their positions. Market makers may also employ tactics such as collaborating with social media influencers to disseminate false information, thereby influencing market movements to align with their own interests. It is crucial to maintain awareness that price fluctuations are driven by the desires of market makers.
Furthermore, market makers have the capability to manipulate prices in a specific trend or pattern, or even take them in the opposite direction, as they wield substantial liquidity and have the freedom to execute their desired actions. Consider a prominent firm like Blackrock, which enjoys the trust of numerous affluent people globally and manages a substantial amount of wealth measured in billions, rather than millions. With such substantial resources at their disposal, they can strategically place buy and sell orders across multiple exchanges. Taking into account Blackrock's reported net worth of 69 billion according to Google, one can grasp the extent of their financial capacity, allowing them to potentially recruit top traders, analysts, advisors, and other professionals anywhere in the world.
It is crucial to acknowledge that market makers in the cryptocurrency market are not exempt from seeking profits. Therefore, it is essential to reconsider the notion that you stand a minimal chance against their influence. In instances where you enter a trade and experience an immediate unfavorable turn, it is highly likely that market makers are responsible for such movements. They tirelessly operate around the clock, using manipulative tactics to shape your perceptions and induce you to think in a particular direction, only to act in the opposite manner.
In essence, aspiring to become the best trader alone may not suffice. Instead, it is advisable to dedicate efforts towards understanding the strategies employed by market makers. By placing yourself in their shoes and contemplating their potential actions, you can gain valuable insights and improve your decision-making regarding future market moves. Furthermore, it is worth noting that people who have a significant following of 1 million Twitter followers, for instance, can be regarded as influential market makers in their own right.
What are the typical strategies employed by market makers?
The market makers have designed the game to work against you. They are aware of all the public indicators, strategies, RSIs, and other commonly used chart patterns employed by retail traders. If a market whale knows when you're going to sell based on a specific pattern, they won't provide their liquidity to you easily. It's akin to giving money to a stranger on the street without any logical reason.PND (Pump and dump) Altering the established trend of a specific cryptocurrency causes you to engage in panic selling. They make deliberate slow movements to gather data on market behavior, effectively blinding you. They execute quick upward moves to entice you into fearing missing out (FOMO) and investing in the coin, only to later dump it on you.
PUMP AND PUMP
A wealthy person, known as a whale, who havees a substantial amount of a particular token, will actively seek people to promote their project, often referred to as a "shitcoin," on various social media platforms like Twitter and Telegram. Typically, they will approach influencers who have a significant following of around 100,000 followers or members. The goal is to leverage this following to create momentum for the coin. Even if each follower contributes just 10 USD, the cumulative effect of 100,000 followers investing this amount results in a substantial sum of 1,000,000 USD.
Altering the direction or trajectory of a trend.
Every cryptocurrency has particular price ranges that retail traders perceive as significant retracement patterns. For instance, if Bitcoin remains stable within the range of 30,000 to 34,000 for three weeks, retail traders gain confidence that these ranges will remain intact.
This psychological price range serves as a reference point, and when it is breached, retail traders often panic and sell their holdings at a lower price. Consequently, they end up buying at a higher price and selling at a lower price, similar to what occurred with BTC. Once it reached 60,000, few believed it could plummet back to 17,000 in 2023, yet the reality unfolded before us.
Highly gradual or sluggish movements.
Inexperienced traders are often labeled as "gamblers," especially when they lack proper training. This becomes even more apparent when you consider that these traders are essentially untrained gamblers, implying a lack of patience.
When a trader loses patience and rational decision-making, market makers seize the opportunity to capitalize on their impulsive actions and gather valuable market data. Slow and puzzling market movements often lead traders to engage in irrational buying and selling multiple times without any logical justification. This type of behavior allows whales to gradually exploit and take advantage of traders. Consequently, many people prefer to adopt a long-term investment approach rather than actively participating as day traders.
Rapid upward movements or sudden surges.
When a whale holds a significant amount of tokens, but the token itself lacks attention or fails to be recognized through marketing efforts, the whale may resort to buying their own token using their own funds. By doing so, they artificially increase the token's price to grab the attention of potential traders or gamblers who might fear missing out (FOMO). Once the price reaches its peak, the whale then sells their holdings, taking advantage of the increased demand and generating profits.
