Bitcoin: How To Trade It For Serious Profit (Book Review & Summary)

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Main Theme

  • Bitcoin is one of the best markets for independent traders (for now)
  • An understanding of mass human psychology can lead to big profit potential trades

Key Takeaway #1 – Bitcoin Offers The Biggest Opportunity For Traders In The Past 15 Years

  • New trading arena not dominated by Wall Street firms & high-frequency trading algos
  • You can maximize your returns by thinking like a trader instead of a buy-and-hope investor

The Simplicity Of Getting Started

  • No account or trade minimums
  • Anyone can open a trading account in a few minutes
  • 3 timeframes to trade Bitcoin

Key Takeaway #2 – Mainstream media loves to hate Bitcoin

  • The media loves to trash Bitcoin when the price crashes
  • Volatility is our best friend
  • Make money faster when it crashes

Understanding The Psychology = Profits

  • The biggest trades come at emotional inflection points
  • Anticipation vs. Reaction – Two profitable types of trades

Key Takeaway #3 – Three keys to profitably trading Bitcoin

  1. Find the trend early
    -Anticipate when short-sellers would need to cover, breakout buyers enter, and people pull potential short orders
  2. Trade against the herd
    -Look for when 9/10 people are in agreement
    -When extreme moves stop, they reverse hard
  3. Only trade around MAJOR price zones
    -Forget the noise and chop
    -Look for high-probability setups, entries, and profit targets

Final Thoughts

  • Cryptocurrency trading offers unprecedented opportunity
  • Learn mass human psychology, then use TA as a tool
  • NOW is the time to trade this market!

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About the Author

Chris Dunn is the founder of Skill Incubator. He is an active investor and entrepreneur with the mission of helping people learn Skills to thrive in today's economy. Chris spends his time testing and building multiple streams of income and investing the profits. Read more here.