Is it necessary for a full time crypto trader to make steady gains every week?
Or does that thinking fall into the big lie that we must work for money?
Do we need to be productive every day like an employee, like a factory?
Or is there a way to make money without spending personal time - that also does not exploit the time of others?
Making Money Work For You
As a mild example of making money without spending any time - that always bugged me, is paying rent on an apartment or house. The renter covers all the costs and then some - and yet the agreement does not lead to shared ownership. And so, while one certainly can strive to own many single family houses, and rent them for passive income... to me, this is taking advantage of 'The System' at the expense of another person.
Another example that never sat well with me, was building a down-line in a multi-level marketing company. While I never started selling in MLM, I am a huge fan of the success training those organizations provide! The book 'Being The Best You Can Be In MLM' never sold me on doing MLM - but it lit up a belief within me, that I wanted to be - and could become - wealthy.
Each of the above methods of earning passive income rely on leveraging your time, by having other people spend their time for your benefit. Time is still being spent, and someone, somewhere - is working for that money.
But Money Is Not A Thing
Just as @lumbridgecity tweeted: Money is not a thing, it is an idea - it is an agreement. Bitcoin is not a thing, it is an idea coded into a program. It is organized energy that cannot be changed on a whim.
While FIAT money, created by the government, can have the agreement changed at any time - we should not hold a negative view of this currency. No matter what it's flaws, and cryptos have their flaws, FIAT money is your friend. If you allow it to be your friend.
The FIAT vs Crypto Argument MISSES The Point
Don't get distracted into gossip and conjecture about the pro's and con's of decentralized vs centralized - inflationary vs deflationary, regulations vs freedoms.
Focus on the fact that you can make money by trading correctly. It does not matter if you are trading stocks, bonds, corn futures contracts, physical silver or bitcoin. They are all markets where you can make money by trading correctly.
For example - check out this monthly price chart of Silver.
Is this Bitcoin?
If you didn't know better, you might mistake this price chart to be a daily bar chart of one of dozens of different cryptocurrencies over the past couple years... but instead, this is about twenty years of monthly bars in the price of Silver.
You may realize that Silver has LESS total market cap than bitcoin? The following screenshot is from an article printed in October 2017, and even after the price correction, today in mid march 2018, bitcoin market cap is higher still.
Now that we have established that the trading market is the key - not the currency or commodity - we can return to working with FIAT or Silver or Crypto with the same endeavor... to make money without spending time.
Make Money Without Spending Time
Trading correctly is not easy. And in some respects, trading is getting more and more difficult as Artificial Intelligence BOTS (AI Trading Bots) proliferate with high frequency trading algorithms - causing massive market price swings.
And yet, the small trader - even the micro-trader who is just starting out - can still profit, with the correct strategies and a very simple deep core belief about the way money works over a longer period of time.
Most beginning traders fall for the Nightly News view of the markets 'the dow jones is down 2% today and gold prices slid off in overnight trading' - they zoom in to the 15 minute bars and check their investment account balance several times each day.
Wanting daily profits, as though their trading account should produce regular returns - a new trader often puts on too large of a trading position compared to the size of their equity, and thus needs to have their stop loss very close to their entry point...
Unknowingly swimming closely withing the easy reach of the high frequency trading bots.
How To Avoid Becoming Whale Food
Trading is dangerous - and it is difficult. The shorter time frame you aim for, like day trading or swing trading - the closer you are swimming into the danger zone - and worse - the more TIME you must spend to tend to your trades.
The longer time frame you prepare for, and the more awareness you have about the risks of trading and the most risky time to put on a trade... the more likely it is that your account can show some fantastic gains - and the LESS PERSONAL TIME you need to spend, monitoring and making trading decisions.
Follow and Upvote - I'll be posting more on these thoughts over time, and hope it helps many people see and believe in new and different perspectives on money, that can help you prosper.
Watch this short video about my 6 Figure Crypto Profits - and why most people FAILED to do the same.
Read more about the biggest struggles that new cryptocurrecy traders face.