Ripple XRP: Why Trading Crypto In A SPEC Market Is Not As Risky As You Think



hey guys and welcome to the working money Channel so today guys I'm going to dispel a bit of a myth the myth that trading in a speculative market is risky and you know a lot of people consider that to be the case because you know in a lot of cases speculative markets like cryptocurrency so we're talking before 2018 right before there was regulation coming down the pipe before we knew governments and financial institutions were really kind of taking a liking to crypto before all that it was very very speculative and we would see stuff like this right we'd see huge moves up and then huge Corrections so guys this is Bitcoin on a daily chart and if you guys don't remember from last year this was 2017 you know we saw a bullish move up and then right around the fall of 2017 we saw a huge move up obviously we all remember Bitcoin hitting about 20,000 dollars a coin and then coming crashing right back down okay correcting roughly seventy seventy-five percent so on and so forth and a lot of people get scared of this kind of thing because they think to themselves well you know if it doesn't keep going up and up and up and up like how am I gonna know when the bull run is up and when it's gonna come crashing right back down and so guys a lot of people get scared of this because they don't get it they don't understand speculative trading but the way I look at it speculative trading is the most predictable kind of trading one can come across and the reason is because of human psychology one of the things we have to remember when we are trading spec markets is that the types of traders who are inspect markets most of them are retail traders if there are people who know what they're doing they're not doing it through their company they're not financial guys Wall Street types who are doing it through their legitimate Wall Street jobs they're probably Wall Street types doing it on the side at home or from their private personal accounts they're not doing it with corporate money and so guys most of the kinds of people who are into these spec markets again retail investors and the key is to understand how people with no experience think as brutal as that sounds that is the key to trading in a spec market so you know when we ultimately see moves up so again guys this is Bitcoin so I'm just using Bitcoin and the reason I use Bitcoin guys I try to tell you guys this in all my videos no matter what crypto you look at let's go look at like coin and I and I showed like coin yesterday it this charts are exactly the same and that's because all the altcoins let's look at a theory I'm USD I mean aetherium is a little bit Wilder I mean there was a swing up here because it had some news but ultimately guys if you just look at this portion of the chart all the swings were the exact same XRP and we'll look at X RP and again same kinds of swings right with the same kinds of Corrections obviously they all correct at different rates whether it's 70 or 80 or 90% nevertheless let's go back to Bitcoin the point I'm trying to make here is that retail traders are all trading based on the same knowledge which is ultimately just the concept of oh it's going up I should buy some and make some money at a higher price then what happens when the market gets up to here people get too greedy they continue Hotaling then they see a correction they keep Hotaling correction correction correction now they're down 80% but guys if you bought up here that would be the worst kind of time to buy like you know anywhere kind of up here or here or wherever like if you bought down here you know maybe you can weather the storm and maybe even make some profit not not as much as you would have made had you gotten out in January or December but you still would have gotten some profit but this is the thing you know people get too caught up in it they buy at this point the market tops off at 20,000 leave even if they bought at 16,000 you know they could have made a quick buck tops out here but people think oh it's going to continue going up and then it doesn't and then it corrects so could you imagine if you are the kind of person who bought up here and you're still under water with your Bitcoin investment well this is why we have to understand how these kinds of people think and that's why I love trading spec markets it is so easy to gauge a retail traders behavior reverses that of an institutional investor these people do not are not sophisticated in the market they just see price going up they buy they keep buying and guys this is why I love making money on these kinds of moves one other thing I've mentioned in some of my videos is trading cannabis stocks Canadian cannabis and if you guys take a look at some of these charts I know it's not cryptocurrency but it's ultimately one in the same okay and guys these patterns have repeated themselves three consecutive autumns in a row so this is 2017 Cannabis this is this is a stock called aurora cannabis now I have to kind of give you guys some background first cannabis is not legal yet as of this video I'm recording this on October 5th 2018 cannabis in Canada is going to be legal in about 12 days so up until this point we have not seen a legal cannabis market right now these companies are preparing their wholesalers so one of them is called aurora cannabis and all these stocks up until now have been trading on speculative traders a lot of retailers are trading cannabis stocks here in canada and it's the same with crypto currencies right let's go back to Bitcoin everybody around the world is trading crypto based on spec while here in Canada it's a smaller market but we can see right here back in October October 24th let's say this stock here was training about two dollars and ninety five cents topped out at roughly fifteen dollars and 20 cents by January and so you know lots of traders are making a lot of money on cannabis stocks including myself but it's because these patterns are so predictable and we know retail traders are trading this so we can get on the other sides of those trades and make some money off of it you look at another company áfreeá now look at that stock is doing the same thing missus the same timeframe so this is roughly October 2017 about a year ago and by the winter January 2018 these stocks kind of topped out and then they did the same thing now guys what kind of chart does this look similar to well doesn't that look similar to Bitcoin and in around the same time to coincidentally October huge move up topped out then throughout the rest of the year now guys we're here with pot stocks currently so we've seen another bull move up and Afra is almost kind of found its top again but it kind of came back down and my prediction is that it's we're gonna see a little bit of resistance and then we're gonna see another move up eventually I got out of my position roughly around here I mean obviously you're never going to get out at all-time high áfreeá got out so I was trading Ifrah it talked out at about $22 Canadian I got out at sixty some odd cents so I waited for this downturn so guys what you have to look for is the double top I waited for it to come crashing down I saw that there was a lot of heavy negative selling pressure but then that always almost always is followed by a lot of buying pressure again and for novices this is the key that they don't get they see this as oh the bull trend is going to continue but what happens is it doesn't actually continue so what I do is I get out on the double top the second top doesn't make as high of a high as the first top however it's still pretty high I'm happier I got out here rather than down here or even worse if it goes lower down here so you wait for that you wait for that strong move up then you wait for a strong move down followed by the bulls again and guys this is just a quick little lesson on a double top you wait for that strong buying pressure to move in again as you can see here strong volume bars but then the the bulls are getting weaker and weaker and then so once it kind of hits another supply zone or a level of resistance up here that's when you get out of your position before it comes crashing back down again so guys that's Aurora cannabis this is a Fria and just going back to this right bulls are trading on news spec market so it's all spec news this is another cannabis stock that I don't even know about this stock but again you can see around the same time period September October huge move up followed by a crash down right so guys this is all spec market trading and a lot of people like I keep saying they are scared to trade in this kind of market but guys it's the most predictable market you can trade in any spec market whether it's crypto or Canadian cannabis whatever it is you can make money in a spec market guys I just want to reiterate that I am NOT a financial advisor I do not want you guys to put in more money into any market more than you can afford to lose so please just remember that but I want to hear what you think please subscribe to the channel if you haven't already like the video if you like the content I'm providing I always love hearing your comments see in the next one guys

17 thoughts on “Ripple XRP: Why Trading Crypto In A SPEC Market Is Not As Risky As You Think”

  1. As of today @ 8:37 PM EST the largest XRP account holds 47,090,406,199 XRP.
    Most likely is Ripple Net holding 47% of the total supply.
    This info can be verify at: https://ledger.exposed/rich-index
    Type in any amount of XRP and see the number of accounts and holdings.
    XRP Mass World Adoption and Decentralized.

  2. 2017 the entire crypto market went from $18 billion to over $800 billion. Do you honestly believe that money that came in wasn't the big boys? The Bitcoin futures started on the CME 2 weeks before the last peak. The big institutions probably bought up the market and have been shorting the futures market while at the same time selling their coins. That is what I would do if I was Goldman Sachs.

  3. Big players are making a lot of money even in bear market by using bots for daily trading as well as other tactics. So what stops them from suppressing the price in the future? it doesn't have to go up for them to make money. They can just ride the wave and suck all the money out of retail investors.

  4. My workmate somewhat recently admitted that he is heavily invested in Aurora, ironically he wouldn't touch a cannabis product with a 10 foot pole.

    The dude is even ready to cash out if the price jumps a bit, even if it happens before the Canadian party gets started

    I have smoke sessions, still to this day, trying to figure out that logic. And then shake my head remembering that i gave him the bloody idea almost a year ago! Told him about Aurora in AB, Aphria and Canopy Growth in ON. Info i got from an insider buddy. Only people in the cannabis community had that access to knowledge back then.

    The bastard better not quit on me!

    Hehehe

  5. No more issues with speculation soon. Hopefully new money comes in and we’re all gonna sit back and say told ya so!

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