Cryptocurrency - Trade Your Way To $1000s

By Paul Duncan

Trading in cryptocurrency can provide substantial returns for small investors. But in order to invest successfully and realise short term 'high-frequency' profits, or medium to long term gains, you'll need to use a winning strategy.

 

'Cryptocurrency – Trade Your Way to $1000s' is not a book about the history of cryptocurrency, block chain technology or coin mining. The aim of the book is simple; induce a winning mindset and a successful strategy into the mind of a novice or recent cryptocurrency investor.

 

Subjects such as stake return & profit taking, risk mitigation and fund protection are covered, all of which are centered on the author's 'Coin Stream, Trading & Profit Pot' strategy. Also covered is the notion of trading onwards even when the price of Bitcoin has crashed, by using an 'Opportunity Pot'.

 

If you're looking to join the cryptocurrency revolution, even with a small initial investment, this book is the gateway to a trading strategy that can provide significant personal gain.

• Language: English
• Publisher: Paul Duncan
• Release date: Jul 2, 2021
• ISBN: 9781527297555

Book preview

Cryptocurrency – Trade Your Way To $1000s

A Winning Strategy

Paul Duncan

First Edition: Paul Duncan 2021

Text Copyright © Paul Duncan 2021

The author asserts the moral right to be identified as the author of this work. All Rights Reserved. No part of this book may be reproduced or used in any form or by any means, electronically or mechanically, without prior permission of the author.

Cover image: Out Of the Box Designs

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Cryptocurrency: Trade Your Way To $1000s. A Winning Strategy

ISBN: 978-1-5272-9755-5

Beaumarches Publishing (UK)

Disclaimer;

Any references to any organisation or individual are purely for the purposes of attributing content credit. The content and/or views expressed within book are not endorsed, in any way, by any organisation nor by any content provider.

The Author accepts no responsibility for an individual’s Legal, Financial, Capital Gains or other Tax implications in whichever country an individual resides. All trades executed whilst following the advice given in this book as well as the choices of cryptocurrencies which are traded, remain the responsibility of the individual. Investments can go down as well as up and past performance is not necessarily a guide to the future. All opinion and advice given herein is the author’s own, the author accepts no responsibility for the choices made by any individual in any country.

Information within this book is correct at the time of publication; readers are advised and are expected to monitor crypto coin relationships throughout their own cryptocurrency trading lifetime. As an example the trading relationship between Bitcoin (BTC) and other cryptocurrency coins such as Ethereum Classic (ETC), Dogecoin (DOGE) or Stellar Lumens (XLM) are as presented here at the time of publication, the author assumes no responsibility for changes in such coin relationships. Coin ticker codes are correct at the time of publication but may change over time. Changes to ticker codes would normally be advised to a user by their own crypto exchange.

"The two most important factors in investing in Cryptocurrencies;

The decimal point and the price of Bitcoin"

Author

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For Ben, Molly & Tess

Table of Contents

First Things First 

Getting Started 

Don’t risk what you can’t afford to lose 

Choose the Right Exchange for You 

Security. 

Track Your Trades 

Know Your Coins! 

Don’t Spread Yourself Thin 

Quantity & the Decimal Point 

The Long & the Short of it 

Fund Value Resilience 

Don’t Fear Small Losses 

Be Patient 

Know your Limits – Protect your Position 

Candle charts 

Spotting Price Uncertainty 

The ‘Coin Streams, Trading & Profit Pot Strategy’

Always Hold Some Cash 

Strategy Expansion Going Forward 

Invoking an ‘Opportunity Pot’ 

Managing & Taking Your Profit 

Summary & Crib Information 

Transcripts / Other information 

First Things First

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No one is preventing you from becoming a cryptocurrency trader except yourself. You’ve probably thought about cryptocurrencies for some time, perhaps this is the moment you’ve finally made a decision to get going and do something about it? 

Well, now is certainly a great time to get started trading cryptocurrencies, because from the back end of 2020 the market has exploded, and thousands like you are signing up to crypto exchanges every day.

However cryptocurrency is a volatile investment, so you need to trade effectively using a working strategy. You may be a complete novice and have never used a cryptocurrency exchange before. Or perhaps you’re someone who’s dabbled with crypto coins for a little while, but it hasn’t been working out quite as well as you’d planned, especially after the recent Bitcoin crash? Well, it’s true that a winning strategy can make all the difference. But beware any trading strategy or other information that attempts to seduce you with promises of becoming rich quickly or entices you with casual usage of the word ‘millionaire’. I’ve even seen one book which infers you can turn $1,000 into $1million in a short space of time. That wasn’t even true some time ago, when the price of Bitcoin was 100,000% less than it is now, because Bitcoin took years and years to get to the level it currently sits at.

Take a look at the price charts for Bitcoin and almost every other cryptocurrency during May 21 and you’ll quickly appreciate that turning $1K into $1M very quickly really has no basis in truth. However these same price charts which currently show a large slump in all coin prices do also reveal to us that there’s probably never been a better time to start trading in crypto since the start of 2021.

Cryptocurrency can produce significant amounts of profit, but only over time and only with carefully considered investing, using knowledge gained from genuine experiences of trading with this type of investment.

Note also that the strategy in this book isn’t time dependent; it can be invoked whenever the time is right for you; whether it be tomorrow, next week, or next year.

So, what will I be passing onto you within this book? Many things actually, things which I wish I’d known myself years ago, but what I won’t be promising is that you’ll be on your way to being a millionaire by next week or that you’ll become almost instantly rich. You can indeed generate lots of money by trading cryptocurrencies, but it takes little time, especially if starting with a small stake. The assumption for this strategy is that you’re starting off with a small stake; hence discussion later in the book works on the basis of an initial investment on your part of just $1,000 when you enter into the Coin Streams strategy itself.

What I will be providing is a bundle of information about trading linked to a strategy that can be played short or long term. A strategy which I wish I’d had access to when I first started purchasing cryptocurrency years ago, particularly regards fund resilience and indeed knowing when to temporarily and entirely cash out a coin fund.

Now, regardless of your aim, whether it’s to be a short term or ‘high frequency’ trader, or a mid to long term investor, a good strategy works and can reap significant rewards, but only if the principles inherent in the strategy are followed. This strategy is designed for novices but also recent crypto traders who want to start making cryptocurrency really pay off.

Cryptocurrency is one of the most volatile investments you could ever become involved with. Let me be brutally honest with you at this point; cryptocurrency has and probably still is causing some individuals significant financial heartache. Potentially some individuals invested too much, too quickly. But regardless of the size of their initial investment they probably started trading without a clear strategy to work with and with little or no experience of this form of investment. This is a game you need to play with a philosophy that works.

The price of a crypto ‘coin’ can flip merely as a consequence of a single tweet from an influential figure, or a statement on the control of cryptocurrency by a nation such as China. Coin prices can also move downwards quickly as a direct result of a single news article, e.g. an announcement about capital gains tax by an American president. All these things and more could send your fund value on a downward path. Crypto can be a scary world at times.

But just as quickly coin prices can rise too, and they can rise dramatically. I’ve seen my own fund value ramp up by thousands of dollars in a single day, sometimes in a matter of just a few hours. I’ve also watched my fund sink temporarily by thousands of dollars. Trading cryptocurrency can be one hell of a ride and you need to know this.

However, it is possible to enter this world and win, and win big. You just need to know how to play in it and make it work for you. The aim is to achieve tangible, even significant rewards over time. The first strategy goal is to get your entire initial stake back quickly yet leave behind a reasonable trading pot to move forward with. Everything afterwards can then be considered a zero risk investment; this is a ‘no sting’ strategy. Because playing with cryptocurrency mustn’t be allowed to impact your daily life. It should be an investment that enhances your life and allows you to benefit financially, not one that burns you.

Now, just as I did many years ago, and every day since, thousands of individuals are signing up to cryptocurrency exchanges in order to buy their very first coins. They're joining an investment revolution that actually began two decades ago. And it’s a revolution which is currently seeing unprecedented numbers of people around the world starting to trade in and make handsome profits from cryptocurrency.

In order to make trading profitable you need to enter this world with your eyes wide open, as well as have a strategy which you can follow easily and which works. And then stick to it. The strategy described in this book works if it’s obeyed, particularly if you adhere to the rules around taking your profits as you trade and also that of protecting your position.

The advice within is based on my own experiences of trading, and it applies to short term trading just as equally as it does to mid or even long term crypto investments.

Think of cryptocurrency trading as a high stakes poker game and you’re probably in the right state of mind to play. Having said that it’s also true that good poker players generally win, and they can win big. If you play the game with a strategy, if you don’t panic when prices are falling and don’t get greedy when prices are rising, then you too can win. And you can win even as an investor with a small initial stake, because you absolutely do not need a large pot of money to begin this journey.

You also need to play in this market without being tied to your laptop or mobile phone all day. This needs to be a journey to financial reward that should have no impact on your normal everyday life. Cryptocurrency can produce profits for you while you continue living as normal; working your day job and also when you’re on holiday. And of course it can even work on your behalf and make money for you while you sleep. It needs to, because this currency is traded twenty-four hours a day in every country on Earth. How you trade will directly relate to the outcome being either a success, or a failure.

The important starting point in your own trading life is that you listen to experience, experience which has been gained in some cases from mistakes.

The strategy works. A friend followed it and her fund value increased from $1,000, the initial stake, into just over $3,500 in a matter of weeks. However, what she then failed to do was follow the principles inherent within the Coin Stream, Trading & Profit Pot strategy to the letter.

Rather than selling the recommended amount of crypto coins out to cash she held onto them. Not long afterwards coin prices dropped rapidly. Had she sold, she could’ve taken back her entire initial investment, plus $500 profit, yet still have retained a $2,000 fund to move forward with. At that point her ongoing trading would have been ‘risk free’. And that retained fund could easily have been re-used to repeat the exact same gains all over again in accordance with the strategy.

Although she was still in profit by some $200 after the coin prices had plunged, she now appreciates the fact that this strategy defines clear goals which need to be adhered to, in order for desired results to be achieved. Failure to follow the guidance ended up as a huge set back. This book is clear about making and taking profit. It’s clear about the right time to sell, about not becoming greedy and indeed about not being dazzled by rapidly rising coin prices and chasing a coin ‘price ladder’.

All that needs to occur for success in trading cryptocurrency is to follow sound advice. ‘Freelancing’ with a crypto fund is something that can be carried out later if desired, but only long after the initial investment has been returned. And preferably only after several additional profits have also been banked away plus a sizeable fund built up. This strategy allows trading to be a little more ‘fast and loose’ only after key objectives have been achieved and you’ve gained some tradecraft first.

You may be surprised to learn there are over four thousand individual cryptocurrencies on the market which you could choose to invest in. Some can make immense gains for an investor, but this is extremely rare. It should also be understood that many of those coin variants can be considered simply as junk, they are the cryptocurrency market’s equivalent of ‘penny shares’. They’re never likely to fly high, and are in fact more likely to cause you to lose your entire investment, possibly in quite a short space of time.

When you start to play with crypto you’ll also be entering a world in which the price of almost every other coin is highly correlated to and dependent upon the price of one other coin, Bitcoin. Always, always have an eye on the price of Bitcoin.

You don’t need to take my word for it either, watch Bitcoin for yourself. See how its price fluctuates and you’ll easily observe for yourself that give or take a price spike here or there, the price of almost every other coin moves in direct sympathy with it. Even coins such as Ethereum Classic (ETC), a ‘fork’ of Ethereum, will move in sympathy with the price of Bitcoin. I’ll expand on Bitcoin correlation later and how the price of Bitcoin can be used to give a rough estimate of the