Doug from DigitalCurrencyTraders.com on the upcoming Free Trading Course! | Part 3/3

2년 전


In this part of our interview, I asked Doug about his free digital currency trading course [Link below]. He also discusses how he's able to make incredible profits like 278% in 2 days, using his 'Popcorn' trading strategy after looking for Prepump signals. It's lifestyle changing stuff!



Doug's upcoming free course on trading cryptocurrencies here: http://digitalcurrencytraders.com/ref/36/

Doug's book recommendations:

Join me on Steemit: https://steemit.com/@vaderiffic
Chat with us on the forums: http://www.lumbridgecity.com/forums/


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Here is the transcript from the call!

g'day guys Crypto Trader Vader here with part three, the final part of my interview with Doug from digitalcurrencytraders.com

VADER: In this part he talks about some of his influences, some of the books that he's read that have helped him develop his trading system - as well as going going into detail a little bit more about his free course offering that is coming up pretty soon. I'll include links and everything like that in the description without further ado here's the funnel part of my recent interview with Doug

VADER: What is your course all about? Tell us what's in it, what people will learn in it and what you hope they'll take away!

DOUG: The course is broken into two parts the most important part is free at the beginning and that's 'How to think about money', 'how to make money', and 'how to make money work for you'. So if you're starting off and you're struggling [financially] and you're you're in a job you hate and you've got debts and you're stuck in that job you can't just quit - you've gotta have the benefit of having you working for money and your money working for money.

So I show you how to start out with nothing, how to make money for free... how to make free Bitcoin - and how to put that Bitcoin to work for you... so that it's slowly growing... so that's making more money. While you're making money your money is making money. By going over this habit on a long term period, you start to change the way you think and feel about all the money that comes into your possession. Any extra money that you have, BAM! it goes to work for you! You start making it work for you and work for you until both the the the stream of money that is working for you is big enough that it's paying your monthly expenses. Now you can quit your job and really work on making money work for you you can really focus on getting ahead... this is stuff I learned from 'Rich Dad Poor Dad', Robert Kiyosaki's book... talking about the fast track versus the rat race where most people are.

So the first part of that course is to help people, and it made a huge difference in my own life. Then the second part of the course is the more advanced stuff of trading where I want you to go through the whole course and get these risk control rules and learn the the dangers of trading so that your fully aware of what is the risk when you get into trading. Then this 'Simple Trading Plan that takes very little time that you can implement you can learn in an afternoon.

Really it's not a very difficult plan - then you can start practicing putting it into play and learning about your own trading psychology.

The second part of the course is a paid course because there's a lot to learn. It's like becoming a pilot you're not gonna learn how to become a pilot of an airplane by following people on Twitter and taking their recommendations... you really need to take a course you really need to drill for skill over and over again so that if an emergency does come up while you're flying you actually know what to do before hand - you've already practiced all the emergency maneuvers.

It's the same thing with trading. It's that dangerous. I put the course together to teach those things and then make it a lifetime course so that whenever it fits into the routine of your life you can come back in and practice and work at the course materials. So that's what I've put together - the really important stuff is that first stuff is that how to make money work for you... the psychology of money... and making sure that that your mindset has shifted to having money work for you instead of only you working for money.

VADER: the mistake that people make is they, you know, they chase after the Twitter pump-and-dumps, 'give me tips', 'give me tips', 'I just want to buy', - but it's not about that...

DOUG: oh no definitely not. It's the the money management and the risk control rules that that you have to learn ahead of time. After you've learned these risk control rules... it's sort of like swinging a bat... when somebody throws a ball, you really have to be watching! You are the only one that can swing that bat - nobody else can swing it for you and tell you to swing it, at the right time, at the right height... to be able to hit that ball. It's the same thing with trading where you can't have somebody else to tell you when to buy and sell - you have to be ready on your own with these rules ahead of time so that you know that 'when it does this, this is what I do' and then 'when it's done this, these are the things I do' and 'when this happens these are the things I do'. It's layers and layers of what I think of as like a different food buffets... where at this buffet you have these choices, but at that buffet you have the other choices.

As the trade goes through the stages you have to know what are the choices that you have so that as soon as things happen you just automatically do it and then go on about your day rather than sitting hours and hours at the chart.

VADER: Just to throw a curveball at you how do you I mean how do you differentiate between something that is a longer term financial goal and you know taking your time and being very calculated with your approach to trading and you know seizing an opportunity when there is one because obviously there are opportunities that do arise that a you know you might see a particular I don't know a shorter term trait come up how do you take those opportunities you just let them flow by

DOUG: well with cryptocurrencies, I do believe that the markets are manipulated to start off with... so they're manipulated down and they're manipulated up. We have the trading robots that will manipulate the prices down to be able to hit all your stops and push the prices even further where they are buying everything up and then the prices go way up - that's the negative manipulation and it's one of the reasons I don't use stop losses. Then there's the positive manipulation which is to groups that are doing pump and dumps or news comes out and it goes through across social media and everybody just goes mad on it... for example decreed just the other day made a huge pump up and then settled back down and for that I have a strategy I called the 'The Popcorn Strategy' where I take a percentage of my holdings and I leave it at extreme crazy levels in sell orders and just forget about it. The profit was hit on that decreed trade prices came back down and I bought back in more and I increased my position size. That is the way that I get ready for this with the the way of using stop losses below the market and above the market.

The other way I go about it is that - when I put money into trading it is money that is gone for the rest of my life. I am never taking that money out again. There is a psychology, there is a view of that money that it is now working for me and it will stay there working for me for ever. It'll always make new money for me. Eventually this money will make a whole bunch of new money like 'the goose that lays the golden egg' and I'll scoop that golden egg - out but the goose stays there forever working for me.

So once I put that money in there, I'm not thinking about my 'profit now', I'm thinking about making that money work for me forever. The profit will take care of itself...like it did back in June in July of 2017 and in December January. There was clear times in the charts where it said '1-2-3 top formation,the uptrend line was broken and the three-month moving average was crossing over', it was time for me to sell sell sell.

So I don't try to prejudge the profits, and I prepare for the manipulation. That way and I have that psychology of that money is there forever and I'm never taking it out ever again.

Those two things give me the longer-term view that I'm going to build that money to much more than I need, and the shorter term view where I have those sell orders way up at the top so that I catch those quick pumps - but I'm definitely more of a longer-term trader. I want to give the markets room to move and I want to have the free time.

I can just take ten minutes look at all the charts and go 'okay nothing to do today and probably nothing to do for the next week or so', by looking at the charts and where the moving averages are and that's kind of stuff. I can focus on writing the course I can go and ride my bike I can help around the house

VADER: you can do these videos...

DOUG: I can do these videos, I can try to make a difference in other people's lives and share this stuff. There is so much information out there that is just opinion-based and not specific structured strategy like like I put together in this course.

VADER: It's financial illiteracy, right?

DOUG: It's a kind of financial enthusiasm with without a real structured plan. I have been guilty of this in many different cases and I have to review my structured plan to curb sometimes my enthusiasm - because which belief is stronger? My trading plan? or my belief in that project?

When I go back and look at my historical trades where I've made the most and lost the most - the markets I believed in the most, I lost the most money, because I held them against my trading plan. The markets that I didn't really care about, I don't really know much about the project, I made much more money... because I traded the chart pattern and not my opinion.

So if you're trading other people's opinions out there and you don't have a structure plan to follow on the charts, they may have a great opinion just at the wrong moment... and if I put the trade on now it turns into a 30% loss.. you take that trade off and prices go up... You've got to have that structured plan in trading the chart patterns in my mind even better than the than the fundamentals. Fundamentals are 10% of my trading plan.

VADER: Fantastic! I don't take up too much due time but just before we wrap it up curious to get maybe just a little sound bite about what you would recommend to someone who has lost money? This most recent bear market has been pretty tragic for I think some people, a lot of people, got into crypto and alts in December, January... and a lot of those people are still holding bags all the way down. What do you say to these people that may not have the experience that you do? That may not have the knowledge that you do? What's something that you can some advice that you can give them to to help them turn that around?

DOUG: well first of all I say hold. Hold for the longer term and then really ignore them for now. There's going to be months or weeks at least of prices moving around sideways and... and just ignore them for now. It is nowhere near time to take profit on these things.

In the meantime do some self education about this - go and order the book 'Reminiscences Of A Stock Operator'.

Get the book. Get the audio book. Read it. Underline things. Listen to the audio over and over again. This book is probably the most profound of all of the trading books out there and really important for cryptocurrencies because of the price manipulation. This book talks about trading back in the 1920s in the 1930s and it goes through the whole life experience of a successful trader right from the bucket shops when he was just a kid he was learning about learning about trading and as he gained experience. It's one of the most important books that you can read over and over again... I read it pretty much every year. And take as many courses as you can.

Read the book 'Money Is My Friend' this is more core. This is a fantastic book it's made a huge difference in my life. It wasn't a huge selling book fill out didn't really get rich selling his book but he was a very wealthy guy because he knew how to work money. So I recommend that book.

VADER: [That is] such a fantastic book! I took it on holiday with my girlfriend and she ended up reading more than I did! She was amazed that there was a book on money that A, interested her and B, was kind of a holistic view... was more a view of the psychology of money as opposed to just make sure that you save more than you spend and all that rubbish.

DOUG: You know that's right you really need to know the why's behind 'save more than you spend' and do the mathematics of it so that it builds a picture in your mind that you can hold from day to day as you're doing the micro little bits. You need that bigger picture in your mind that you keep. You feel the sensation of the bigger picture, you feel the success of that bigger picture when you're doing the little things here today. Then you can stick with it over time.

That was one of the big things with [Money Is My Friend] too, is that there are ways of 'thinking about money' that I wasn't aware that I was stuck within! It was a negative view of money. I had negative emotions - I had resentment, I had guilt I had all sorts of negative emotions about money... so when I started to deal with money, I didn't take the right actions because I had all these negative emotions. By reviewing that and starting to think about it - I changed the way I was feeling about money and then it's a lot easier to deal with it properly and to do the right things and the smallest little bits that accumulate and accumulate over time.

VADER: I was very surprised the effect that it had on me in that respect as well. So many negative things around money... saying negative emotions. I was meditating the other day after reading some and I got teary because I was thinking about some memories, you know, about how my mom was very poor when I was growing up... and and just these things kind of affect you and affect your attitude towards money and ultimately affect the way that you view it in the way you bring it into your life.

DOUG: yes yes and all it takes is a change of ideas. You look at two different people it's just the way they think that makes them into different. Success or failure in their lives just by the way they think.

By reading these books - after you've had all these negative trades - you'll get to start to think about different ideas about money. and then I want you to take my free course where I'll teach you how to make Bitcoin for free, how to make it work for you and grow - and how to do that over time, so then you will start to rebuild your successful feeling about money. As your altcoins all start to go up then you may want to take the more advanced course so that you can see where there's a specific buy signals where's the specific sell signals and then you'll know when to take your profits next time the big bull run is finished and things are topping out which will happen.

VADER: And that's priceless advice.

DOUG: Hopefully it makes a lot of people a lot of money. There's more to be made out there in cryptocurrency land that I can possibly make on my own, so the more of your success does not take away from my success and that's one of the reasons I'm happy to share this information.

VADER: It's very true! well um thanks so much for jumping on the call with me men and I'll be sure to include links in the description about the the books you recommended as well as the the course of course and I recommend the Cole thoroughly myself

DOUG: fantastic! Thanks for having me on. Always a pleasure to watch your stuff I look forward to your next trading video.

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