Crypto Commandment #7: Have A Gameplan | Ten Commandments of Crypto Trading by Caleb Wright
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Crypto Commandment #7: Have A Gameplan | Ten Commandments of Crypto Trading by Caleb Wright

September 3, 2019

Hello my friend, Caleb Wright here from Bitcoin
Lifestyles Club, and in this video I’m going to teach you about the 7th commandment of
crypto trading… Thou Shalt Have & Abide by A Game Plan! If you want to experience a high level of
success in the crypto markets you can’t just be randomly slinging satoshis on the exchange
everyday with no vision or goals… Trader’s who approach the market without a
specific gameplan in mind are most likely to become whale food… Don’t be that guy! Decide what your goals are… For example, how much money do you want to
make and how often… how much would you like to make per week, per month, per year… how much do you ultimately want to make before
you liquidate out into other investments like real estate or an income generating business? This would be in relation to your long term
goals with your crypto profitability… And how much capital do you have to invest? It’s okay to dream, while being realistic
at the same time. If you set the bar really high, you are bound
to at least achieve a good result and grow from there. But as a universal rule of thumb, something
that applies to everyone, you should only enter the crypto market with money you can
afford to lose… You should not be depending on making trade
winnings daily, weekly or monthly to eat or ‘pay your bills’. This will end up being a root cause to bad
trading decisions as you may end up selling your holdings to pay the bills, and then your
coin skyrockets… which is always a painful feeling…
or even worse, if you really needed that money, and then the market goes red or even crashes
and you can only get a fraction of the money that you needed… and now you can’t pay your
bills. So this is why you should never put money
into the crypto market that you are afraid to lose or going to need in any shape or form
‘anytime soon’. Once you become clear with your crypto trading
goals, you can tailor your portfolio accordingly to reach those goals. And of course no game plan is complete without
a well thought out Exit Strategy. So while every one of your trades should have
a profitable exit strategy, as well as an exit strategy to preserve your capital for
the next trade, if things go south on you…. You also need to have an exit strategy for
when you reach your longer term goals with trading crypto… Of course I can’t give financial advice, but
I personally think it would be unwise to stay 100% invested in crypto long term. And to me, it makes more sense to diversify
your success out of crypto into other forms of investments that are less speculative like
real estate, which can also have income generating potentials. So think about what you’d like to do with
your money once you’ve reached your loftier goals of crypto trading, and you will be prepared
to maximise on the situation and build a legacy for your families future generations. A major benefit of having a game plan with
your crypto trading, is that you will be more in control of your emotions and less likely
to fall prey to FOMO. According to your gameplan you will only be
entering the market when prices are low and selling when prices are high… You will not FOMO into coins that have already
broken out to higher levels…. meaning the buying opportunity has past. You will not hold onto trades too long once
your profit targets are reached and end up back in the red when it corrects…
…because you avoided impulsive actions or complete inaction, stuck to the script, and
sold according to your gamplan… This is just scratching the surface but I’m
sure you can see by now there are a lot of benefits to having a gameplan. Having a solid game plan in place is one and
the same as having a winning mindset with your crypto trading. Because you are conditioning yourself to make
the trading decisions that need to be made, so you can consistently take profit and preserve
your capital… whatever the needs may be according to each
given trading situation. This is where so many newbie crypto traders
go wrong. Some may end up winning big, but because they
didn’t have a game plan in place to take profit, they end up holding on too long. And they may not even end up selling until
they are back to break even or maybe even in a loss! Don’t let yourself be that guy!
because I guarantee it will not be a good feeling… Stick and abide by your gameplan, take the
emotion out of it and be methodical with your trading and maximise your crypto profits as
a result. Caleb Wright here from Bitcoin Lifestyles
Club, and I hope you got massive value out of today’s training. Watch out for the rest of the 10 Commandments
of Crypto Trading, that I have put together just for YOU. Because I want to help you avoid the costly
mistakes made by so many unsuspecting crypto noobs. In the next training video coming right up,
Commandment #8, I will reveal the methodology that successful traders are using to develop
winning gameplans for trading the crypto markets. Because the more educated you can be about
all of this, the more powerful you will become with each trading decision and your ability
to minimize your losses. And by the way, if you want to fast track
your way to immersing yourself in the crypto markets and if you are serious about developing
your skills as a trader, you should check out the powerful crypto trading education
and 24-7 running mastermind community of WINNING crypto traders available on the Bitcoin Lifestyles
Club platform that we have put together to help you maximise your potential and overall
success with crypto! Just click the link below this video for more
information, and start accelerating on your path to crypto wealth and start living a financially
free lifestyle starting today…

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