David Wygant: Day Trading Cryptos for Daily Profits


David Wygant: Day Trading Cryptos for Daily Profits welcome to looking at the markets with
David Moadel man I’ve got a treat for you today
it is David Wygant he’s been known as a coach in numerous fields yes a dating
coach yes a life coach but also now a financial guru in the making we’re gonna
see man you’re looking at a chart right now and you’re gonna see some chart
power and maybe we’ll get some trade action here or maybe even a live trade
or two or at least we’ll be able to go through some trades and find out what
David Wygant is thinking and if you like what you see feel free to go to David
Wygant comm link is in the description below this video
David welcome to looking at the markets thanks David I appreciate it you of
excuse me I have like a summer sore throat I never get sick at all and I’ve
been pumping myself with like echinacea and all this other stuff so you have
taught me so much you actually gave me the confidence and I want people to know
that you’ve given me the confidence to see the market as a story that’s
unfolding before my eyes and can I show you the story of qkc right now just to
give you the story right yep okay so as I as you taught me go to all the chart
you know if I’m gonna scalp and I believe like in the crypto world you
know you hear from crypto people all day long and they’re like no this is a great
time to buy and I’m thinking like you know show me on the daily chart when the
daily chart shows me it’s a good time to buy I’m gonna buy and I’m gonna hold but
until then I don’t want to miss the opportunities to make 2 3 percent in the
span of 11 minutes you know because it comes out non-stop so this is just q
Casey and Q Casey has been something recently that if you can see like you
can see it’s just been like you it’s like go up and then down right so
basically right 23 mm mm it started it started taking
off right here and then it won’t went all the way up to 3,000 so it’s got a
great amount of whip saw action so then I looked at the for hour and I’ve
noticed it I’ve noticed it every single day because I’ve been looking at it
right so today I looked at the hour and I was like all right so we’re looking at
resistance you know here right around this number was about 2400 a little
about 15-20 minutes ago now let’s move down the moving average right grows at
2400 because I saw it at the one-minute or actually was I’m sorry it was it was
a 21 40 was the resistance right so I saw it on one minute and I was watching
it you taught me about the MACD crossover and then the RSI and then
here’s the cross over here and usually I would get a head start on it once once
it kind of caught above once the MACD crossover and I got you know a green
candle printing above the moving averages I would go in right you know
because it would show B it would to me be large amount you know decent amount
of gain for minimal loss because underneath here you know we’re looking
at a you know 2077 you know right here that candle 2076 stop-loss and to get in
like 20 81 so I’m really minimal risk I mean if I’m wrong I’m wrong by you know
minimal right yeah so I set a target profit right around 21
you know 20 200 because that was kind of where the moving average was on the
15-minute chart at the time okay so now it’s been moving up right Rex I’m sorry
that’s where the was on the hourly chart right because I was looking at the
hourly chart because we were in a downward swing ever since it vomited all
over the place a couple days ago so I was sticking with this moving average is
kind of like my profit targets okay then I looked at the 15 and I realized well
it’s making a move it’s you know it’s looking healthier on the 15 we might
have an upswing right here we might get to the high of 21 63 and once again the
low of 20 64 so we’ve got a range right here on the 15 right it seems to be
playing off of it and then I was like all right I feel safe enough to go in
and scalp at this much moments so I took the scalp and I just
wrote it up and I was gonna bail the second it it broke this moving average
right when it broke the Box you know the bottom moving average I was gonna I was
gonna bail on the whole thing and I kept watching and I kept watching and then
right when I was up around here I went back to the I went back to the hourly
chart and it was banging on this moving average and it wasn’t going above it and
if I’m looking at the last what 1011 hours it hasn’t been able to go above it
right so I’m thinking like well it doesn’t look good it doesn’t look
healthy that’s a big level of resistance so I went back to the minute and then
the minute it like went down here I was done I was out it was over and it was
like a 2.5 percent gain but you know to me you taught me to go and get 2.5
percent gains so I went and looked at other you know there were other things
today and this is if I go to etherium mm-hmm you know so here’s a
theory and then you know there’s a lot of noise on the one-minute so I like to
go to like the three-minute on aetherium and take us back to right there on
aetherium there’s a theory I’m just really well in a three-minute chart
right so I got my MACD crossover I’ve got you know alright we’re closing above
the moving average ok so that’s at 458 37 you can ride that one up all the way
to almost $480 right I mean that was a foreign you know and your stop-loss you
know would have been and I’m gonna take these last candles here cuz I’m not
gonna take it here cuz that’s a very big stop-loss I’m just gonna take a small
outer wrist so I think my stop right here I think it was a roughly like a
three dollar risk to go try to double my money and here I was I doubled my money
right about here but I realize I’m gonna keep going because I’m getting support
and I’m still having support my moving average is moving up and moving up and
moving up and moving up and I mean you got to be happy somewhere in this target
profit here but you could you’ve taught me
and then the moving average crosses over back here so we’re in buyer beware
situation at that point and I know that if I just keep going I can do it again
yep and here it is again yeah we are at 466 and here we’re
all they have – 471 there’s a $5 or even it’s like we didn’t touch the bottom
moving average and we’re still up to here at you know we’re here it’s you
know a six dollar profit at this point so you’ve taught me that these
opportunities come up all the time and they come up at certain times like at
9:30 in the morning everything in the crypto market retros two and a half –
you know six percent there were all these coins that I watch that all seem
to move up at the same time and I don’t know what it was or why it was that time
but you have really taught me to move around these charts move around the five
lets see where the overhead resistance is you know so we’re still you know
we’re you know yeah you know we’re still in a range right here and it’s still not
showing enough strength because we’re still on a downward cycle and if it’s a
downward cycle why am I gonna go long if the hour shows me to go long
then I’ll maybe take a swing trade in it if the four hour shows me but right now
all it’s showing me is mild you know look at this it’s vomiting all over the
place it’s showing me little tiny skims that I could be taking while I’m waiting
for a swing trait so that’s some of the stuff that you really taught me that
amazes me and I back and I looked at the patterns and here’s the paper trading
profit for the day 750 dollars and 55 cents you know so it is it’s really and
it wasn’t a lot of sweat off my thing and it’s like everybody to me is always
looking to go like especially in the crypto to shoot the moon yeah and I just
feel like they’re missing so many quick little plays that happen if you pick the
coins with good volume you’re getting all these you know all these incredibly
beautiful moments that you could be making money
thank you for point for pointing all that out I appreciate it I’m glad you’re
taking a few principles that I’ve taught you along with what you’re doing which
is self taught mostly you’re you’re really picking this up so quickly and
applying it so well and I’m really impressed with your progress but thank
you for pointing out what we’ve learned together you’ve brought up so many
principles here I don’t even know where to start
I guess we could start with multiple time frames so many people just look at
one chart throughout the entire day but you’re swinging yes you’re doing swing
trades but swing trades require a lot of patience and a lot of waiting sometimes
you’re not going to do anything and that’s okay meanwhile you can do those
little scalps and some people are going to turn their noses up at 2.5% here a
dollar here fifty cents there are a couple dollars there you know what those
add up especially if you’re doing it multiple times a day which would you
agree you are doing that throughout the day with not just one coin but you’re
watching a number of coins would that be true oh yeah I mean I’ll go and this is
how I kind of look I’ve got a list and I look at theta theta has been a big mover
lately you know so I’ll look at that but really if once again you know if I go to
the three-minute I could see scalping but I’ll go to things that have nice
little moves like card ah no I mean who’s gonna not be happy right here
anywhere on this bar you could have answered you could have entered it 152
you know you know 150 242 and literally set and really went up two dollars and
20 cents in the matter of three six nine minutes hmm
nine minutes and you’re risking so you know you’re willing to risk what was a
one-er risk a dollar twenty-five to make two dollars and fifty cents and I would
have made more on that trade I mean it’s in and out and I’m doing and I’m running
and I’m looking and I’m going through every single thing and if I take you
through my screen I’m looking at things that have been moving here’s one that
was great I’ve been watching EOS for a while you know and here it is right here
it’s like you know you know just like look at it it’s just like it’s such a
perfect setup for either up or down I mean you know it’s just like
consolidating consolidating consolidating there’s my MACD crossover
right and if I got it you have to get in if you’re gonna play the scalp and you
know you taught me that you got to take the risk before this stuff crosses over
because and they’re touching so it’s kind of a crossover because you would
have missed this whole spike right you know and then you would have bought on
the red and you would have freaked out and it’s like you know and I mean look
at it it’s just it just it keeps going going and going and you just have such
an opportunity to scalp and I think people and you and I have talked about
this it’s like last year is over I didn’t get into crypto last year in 2017
I didn’t have a I didn’t get in and see even though Bitcoin was told to be
bought at 2000 dollars no one showed me a chart I didn’t I thought it was just
some weird thing that you just bought right and it’s over and I think a lot of
people are holding they’re holding on to these things and they’re listening to
their not listening to the market or the trend I mean their trends not their
friend and they’re buying because it’s low and you OS can still go down another
forty percent before it makes its move up so why would you buy today just
because it’s it’s at such a low I mean look this is what all the crypto guys
are like well look how low it is you know it’s like right you know but I
think look how low it is well I think it can touch April it can go back and hit
April’s lows and then I would be holding all this space right here instead of
getting little mini runs mm-hmm you know looking if I caught a linear unhear on
the daily and it continued it could have been that run so you know it’s kind of
like I think people rejecting the way that they think and I don’t think people
want to readjust it’s like they want to get rich and to me give me five hundred
to a thousand dollars every single day and it it adds give me $200 on a day let
me lose $100 on a bad day or 200 it’s still gonna add up I’m a lost $500 on
money on a Bitcoin I read it wrong you know and I woke up and I went for it the
wrong direction and I had to stop loss and might hit my stop-loss and I was
like I’m okay you know it’s like it’s fine so I don’t know David I think a lot
of people are over complicating and what I love about your lessons is that you’re
not over complicating it I mean you teach charts these charts are your
friends I mean you’re still in a downward look at the daily you’re still
on a downward thing why would you go long and OMG here it’s it’s downward
it’s like just because someone gives you a signal and tells you to buy it’s
counterintuitive it’s it’s you know it’s just counterintuitive to me
yeah and you’ve brought up other so many great principles you’re bringing up and
again thank you for pointing out what we’ve learned together one principle
that you’ve eluded to a number of times just in the last 10 minutes is cut your
winners short and let I’m sorry I cut your losers short cut your losers short
and let your winners run and so your risk to reward ratio is always favorable
now especially for day trading I tell people the shorter your timeframe the
more important it is that you use stop losses sure if you’re warren buffett and
you’re holding on a coca-cola stock for decades
then maybe stop losses aren’t so important you may not even need them at
all but if you’re gonna day trade like David wagon is doing and by the way I’m
speaking with with David Wieck and make sure you check out ww-why intercom for
life coaching all kinds of coaching there and financial coaching as well
he’s got a podcast where he said you’ve had Jason bond on there you’ve got a
number of really influential financial individuals on there so check that out
by all means check out all that you’ve had hundreds of episodes so listen to
every one of them and a YouTube channel and I’m gonna put all those links in the
description below this video today we’re alluding to a number of
principles that if you contact me or if you contact David Wygant
we can apply them week you know either one of us can show you the fundamental
principles that we follow to make money on a consistent basis we’re looking for
consistent profits here David you talked about not necessarily
Nene needing to shoot for the moon every time you make a trade you’re making
consistent profits every day if you make 500 dollars a day if you make $800 a day
heck if you make 300 dollars a day you’re doing better than most people
well I also David I also do something that a lot of people don’t don’t do is
I’ll take the extra fee on Finance and I’ll put myself right back into you know
tether or TUSD or you know if it’s on G Dax if I’m doing aetherium scalps I will
go immediately back in the US dollar because I am NOT gonna rely on this to
make me feel happy this is this right I’m not relying on
this monster right to make me feel happy because look at this monster okay so
let’s say all of a sudden okay you made a thousand dollars let’s say you made
five thousand dollars and you’ve kept in yet you got twenty thousand dollars in
Bitcoin you know and you know Bitcoin seems to be on this like upswing again
you know and then all of a sudden look at that on the move and error it just
doesn’t want to get down there and there’s a good chance it’s either gonna
crack above or puke right so all sudden you think well wait a second it might
you know might crack above and you don’t go to cash and you didn’t go to cash and
you were at 76 and 69 and then all of a sudden you’re still holding the bag and
you’re at 62 56 so basically that’s $1300 and your two bitcoins you lost
$2,600 so basically all that wonderful money you made the week before has been
lost because you’re holding something that is as crazy as your ex-girlfriend
you know I mean this is what to me is and to me I’m all about because I’ve
been you know 18 years of life coaching this is all human emotions to me you
know so this to me is there was a lot of news Korean exchange there’s always
something that can make Bitcoin puke and right and if you look at it and this is
something I learned from Dan from the chart guys is that public sentiment
right now in the crypto market is not good it’s not good because when
something was twenty thousand dollars in December you know and now it’s down to
sixty two hundred dollars the warren buffett’s and the negative people are
gonna get that message out there more and what happens is that you were
sitting there holding the bag so that’s the reason why you’re not
making money when in reality watch this okay so here you are holding this at 63
one look what you could have done today okay so today you could have waited for
an opportunity okay and here’s a nice little opportunity where the you know
where the MACD crosses over right and you know Bitcoin you’re always gonna
have a title oh you know you got to have a wider stop-loss you know in order to
make it work but the fact of the matter is there was a swing here of almost $100
you know in the span of 14 15 20 so you know and you can even go to the
one-minute will protect you even more where you can even scalp it faster you
know we’re like you can scalp it right here and just scalp it till you see the
scariest red candle that comes out right you know I mean because that’s what
people are seeing that’s the human emotion it’s like oh my god
scary red candle you know and that’s what people are doing and they’re like
scary red candle scary red candle scared that’s that’s the emotions and that’s
how I kind of look at yeah and I yeah yeah you can see it’s melt you can see
it right there whenever there is a sizable red candle a big one you know
they’re gonna be others most likely and you see it just ran this chart right
there one two three four or five times this is textbook right here I should
they should put this in textbooks this chart right here you can whenever
there’s a scary you just pointed out a scary red candle other people see that
scary red candle because we’re all watching the same charts and now it’s
gonna lead to more scary red candles you know Warren Buffett said that in the
short term the the markets are a voting machine in the long term they’re a
weighing machine yes eventually things are correctly priced but in the short
term it’s all sentiment it’s all a voting machine it’s all panic or
euphoria or boredom when it goes sideways so what you’re doing is you’re
capitalizing on it and you’re getting out when you see that the tide of
sentiment has turned you’re not staying in it you’re not being a hero
another principle so many so many amazing principles are being discussed
today all at once people I could see it already in the comments section and
please leave a comment if you’re watching this down below in this video I
want to know what you think of David why against methods which are you know my
methods as well people are going to ask you what moving averages you’re using
because it might be really small on their phone if they’re watching this on
their phone right now what moving averages are you using and what what
candles are you using what five minute one minute two minute what are we
talking about here right now I use what you know it’s funny and I still have so
much to learn and that’s why I have unbelievable mentors in my life you know
so then I always tell people all the time because paper trade paper trade
paper and that’s what I do don’t just paper trade write it down
do it on like the paper trading on trading view because it’s you know take
the order go put it in watch the thing backed right you know it’s like it’s
such an amazing thing and like here just for instance it’s like you got out
smartly right around here when you saw the sentiment and then you literally can
go back in here again and go take another $25 right I mean so yeah I know
it sounds crazy but if that’s for Bitcoin that’s $100 and $100 so
basically in the span of an hour you made 200 bucks coupled on to another
couple hundred bucks you made here and all of a sudden you quickly do it so
I’ve got a couple of charts that I do but I love because you told me to keep
it simple my favorite I like the MACD crossover I just think it’s just I’ve
gone back and analyzed probably 10,000 charts and granted there are some times
that it crosses over and then it doesn’t but if you’re taught you know if you’re
you know if your stop-loss is tight but there’s other things I look for I’ll
look for the volume increasing you know I’ll take a look and see where the
volume is you know and where it’s you know and what’s going on and what’s
increasing I look at the RSI and you know if it’s you know right here because
I got my little red line which basically tells you you know once again the RSI is
way look at that look how low it is right there yeah you know it’s like it’s
it’s luring me on that red candle right there that there’s gonna be a move
coming back up cuz it’s not gonna stay there forever might stay there on the on
the 1-hour truck so I on this one I use the moving average crossover which is a
tool on on trading view but then I’ve got another chart which I kind of use
different moving averages just to kind of get another sentiment to see you know
how strong it is against some longer time frames yeah you know on the charts
you know just to see where I’m at but most of the time I try to keep it as
simple as possible because one thing you taught me is you know if I’m and this is
what I’m still learning I think if one on the swing trading I’m kinda like I’m
learning right now you know I’m learning right another Fibonacci’s and I’m
learning the trend lines and stuff like that but man on little scalps like this
it’s like you told me if I keep it simple and keep it on a and keep it on
it and on a on a time frame that’s short I can scalp all day long and it adds up
but I’m gonna miss sometimes I’ll miss you know a little bit of nicer longer
move you know but I’ll also won’t lose my capital waiting for that longer move
to happen or you know it won’t be as and you know the swings will be a little
wild but so I just kind of keep it simple I keep those moving average as
simple as possible you know just the more I put in there I
mean I’ve got all this stuff zero lag I mean I’ve got so many other things that
I’ve tried out but this to me just lets me see patterns of scalping patterns and
as I’m learning the swing trades and I’m learning the hold and I’m learning the
hourly in the 4-hour chart and the daily in the weekly chart to see where the
swing trades should be that’s a whole other educational lesson and those are
all things that I’m learning that I don’t feel comfortable with yet but this
this little let me grab some money right now because I need to go take my
daughter to Legoland this I feel comfortable with right there you go
consistent income is the key folks if you’re shooting for the moon with every
trade that’s how you blow up your account because you know just the yes we
want to trade things that move we want some volatility volatility is your
friend by the way Casey didn’t know yeah if
you’re a trader or even if you’re an investor although well okay if you have
a long time frame volatility may not be your friend because you want something
that goes up over time and the volatility can be very uncomfortable
anybody who held through 2008-2009 ask them they’ll tell you but if you’re a
short term short time train timeframe trader then you want to get into things
that move cryptos are perfect for that not just any crypto though David I know
you you are selective you’re not just going to trade any crypto currency which
ones do you focus on and do you have any room for those little coins that don’t
have a whole lot of volume no I’m not touching anything it doesn’t have a
whole lot of volume because you’re competing if it’s got 47 bitcoins as its
volume for the day and you want to make some money you’re competing you might
get an astronomical move up or an astronomical move down for no apparent
reason so I go to buy Nance and I take a look at I mean look at look at
this everything’s in the red today yeah I mean everything so I’ll take a look at
the movers Romana you know I’ll take a look at mana and
see what what the you know mana is moving it’s showing movement I’ll talk
advise look at Zen I’ll look at things that have volume because if they don’t
have volume then the charts look like these little weird if I can show you one
that doesn’t have any volume let’s go on loaders the loaf loaders tend to have
very strange-looking charts some yeah like this this is not look at this chart
it’s like it’s like really there’s little slashes of lines plus the fact
finance has absolutely terrible charting software but I’m that’s decent volume
620 59 Bitcoin but there are some that have like 40 for bitcoins if we go to
volume right I mean look RL C’s got here a DX got 46 I mean how you gonna trade
that and that’s what people look for like yes so there was a massive pop
right here from 6002 to 6000 and 97 and I have this percentage calculator and I
go here to see like what the moves are before and I go six zero zero six zero
zero two six oh nine seven because you want to see what the moves are during
the day because they’re probably gonna do them again that’s one point six two
percent that’s not enough to have something that’s so sporadically scary
because as much as it can do that that candlewick could have gone all the way
down here and stopped you aw ow you know so you need so I look at volume trading
view is really good trading view will give you things that are kind of
trending so I was taught to look good at trading view and Finance Colleen like
BnB is a really good I’ll look at things that have like a swing in the day so
look at this is one of my favorites and it’s been on a run for a while if things
have been on a run they’re really good to go in and out of because people are
still looking at them I mean by Nance coin is great I mean by Nance coin here
you could have gotten into 1428 and yeah you know you would have been stopped out
because you had a stop loss of 1404 so you know you would have rode it up and
you could have gotten 1463 and you know here the MACD is crossing over so you
might have gotten out 1450 14 14:45 so you would have made 17 18 cents
yeah I mean there’s nothing wrong with that and it’s it’s it’s not like a it’s
not a scary thing because if you go and look at it and you take a look at the
daily its trending up yeah you know it’s had some nice up trends I mean this is
just the last couple of days have been really volatile and that’s look at all
the volatility look at that 16 to 13 – I mean that look at that that’s almost a
$3 $3 window of opportunity to go make money at some point in the day it’s
gonna be moving up and down so that’s how I kind of go and plus you want to be
able to get in and out fast because if it goes against you um and I practice
this if it goes against you and I’ve done it by following some other people’s
picks sometimes it got against me and my stop-loss was just over you know whoops
it was it like got a stoploss in but it just never got you know never got filled
because there’s not enough volume so I just find that I need volume you need
volume to make money you need volume to make money yeah you need volume just
just to feel safe with your with your trades even if they are very short-term
in terms of there’s a term that’s in the stock world seasonality you know soar in
the commodities world as well you know natural gas and oil might be tend to go
up during certain months of the year that kind of thing
gold and silver have certain seasonal patterns do certain cryptocurrencies
have seasonal patterns but on a very short timeframe like times of the day
when certain things happen certain patterns happen have you notice anything
in that regard oh yeah I can take you through bye Nance coin I mean this is
like the best let’s go five minutes okay not to drive people crazy or anything
but let’s take a look at 9:30 in the morning it just seems like all right
it’s like right around here 9:30 in the morning there it is 9:50 everything
started just going on a nice little run you got a nice you know nice almost you
know 65 70 cents that other thing you know and then if you go back it’s like
you got the middle of the night vomits yeah you know with the Korean you know
with that you know where the Europe markets come in or they or Asian markets
open up or whatever it might be but you seem like and then later at the day I
mean crypto the thing is with Krypton and I am no expert in crypto because
it’s just so new to me but it’s you got to keep an eye on it all day because the
moves are gonna move whenever they feel like moving and maybe there are bigger
patterns here’s one for three o’clock in the afternoon I mean that was a nice
little play right there mmm you know that was sitting in there that was a dot
you know 75 80 cents and I think people David just got to be okay with that 75
80 cents yeah yeah you know because you could have gotten into by Nantz coin
here cuz oh my god somebody told you it’s like everything’s going down look
at that pew pew pew this is the lowest it’s been and it’s at 14 55 and then you
could have held it and held it in held it and held it in held that in held it
in at 14 55 you’re still down almost 18 cents and you’re holding the bag and
you’re holding the bag yep yep we’re not interested in making bag holders out of
people we’re trying to save you from that if you’re watching this listening
to this we’re trying to save you from being a bag holder and David wagons and
again you want to check out David Wygant dot-com the the podcast the videos and
links in the description below this video it’s so interesting because there
are people who advocate huddling h o dl hold on for dear life there might be
something to that i don’t know but you’re you sound more like you’re
interested in buying the dips buying the dips as they happen instead of waiting
around for the shift in the tide you’re gonna you’re gonna capitalize on those
little those little panics because a lot of those little panics those little
sentiment shifts they go right back up and it’s kind of predictable would you
agree with that it’s so predictable I mean I’m just I’m into look I’ll hold
when everything and this is like all my mentors and you and everybody else told
me the same thing you got to wait till you got a daily chart that tells you to
hold you know it’s like in a weekly chart that tells you to hold and you got
to look at all the support and the resistance in it and you got to look at
everything I mean here that’s a beautiful daily chore I mean
look at that I mean that’s like boom boom boom boom higher
hi-hi-hi huh little indecision boom high you know higher high again higher high
higher high you know then you got your first warning signs you know where
you’re like okay wait a second things might be changing but if you got in here
you made $3 in the span of a week so it’s like I will not touch anything and
hold it because the fact is nothing’s going to the moon not even not even
astronauts are going to the moon you know it’s like so why would I do that so
you can you know you know you could swing anything you could you know and
that to me is like what every person I’ve learned from you know they’re all
about you know watch your charts let the market come to you you know and right
now the market is and and I have fought it and I will not I will not have my
girlfriend keeps texting me I have fought it and fought it and fought it
and I realized when I learned trading a long long time ago I lost so much money
because I tried to fight a trend you know so as you always say the trend is
your friend so why would I go why would I go against what the market is telling
me so even though people tell you being crypto long term and III think crypto
and I think that 20 projects that are you know I think the 20 projects that
are good will stand out but the 3,000 other ones you know people are gonna be
left holding a bag full of shit and it’s it’s like the dot-com boom
years ago they’re gonna be left holding a bag full of shit and they weren’t and
cuz you know in the crypto world David they all tell you cash the American
dollar everybody you know and it’s like but if you listen to some really smart
guys they tell you the American dollar is not going anywhere you know it’s like
crypto is not gonna replace it and it’s just like you make you should just treat
it as another form of trading it’s currency it’s another form of currency
that is allowing you the opportunity to have financial freedom and don’t try to
get rich quick because it doesn’t work you were in unless 2017 happens again
which it may happen again you know in a different way but it may not happen
again people need to get why right trying to get that 2017 kind of
gain again think about the math behind that going from 1,000 to 20,000 okay
that’s a huge gain to get there that percentage gain from here it’s at what
6300 right now so how how did to get that twenty bagger again yeah how much
you know think about how high the price would have to go from here it would have
to be astronomical and so could another 2017 situation
happen again of course it could but am I going to sit around and wait for that is
that how I’m going to invest no am I going to count on a repeat of 2017 no
I’m not and that’s true no matter what you’re trading or investing in so we’ve
learned so many amazing principles just yet just in 25 30 minutes my goodness
we’ve learned about cutting your losers short letting your winners run we’ve
learned about looking at multiple timeframes we’ve looked at plan your
trades and trade your plan you’re sticking to your plan yes you’re
tweaking you’re adjusting because you’re still in that learning phase but man
you’ve got it down and we’ve learned about what consistent income means it
means not trying to get a thousand percent gain in a day we’re not swinging
for the fences every single with every single trade we’ll take those two three
four five ten percents multiple times a day
that adds up fast if it means making 17 cents here well if that’s on a very low
priced coin or stock or whatever it is that’s respectable
I don’t sneeze it at a 17 cent gain in in an asset that’s only a dollar nothing
wrong with that and so what David what but David people
are it’s so funny because if you look at like here okay you know we talked about
this right you know earlier you know it’s like people will sneeze and this is
another thing two people will sneeze at this but I mean how can you sneeze
literally at weed right how can you sneeze at this is
look at the daily you know on weed I mean it’s unbelievable
right you know I mean it’s beautiful but how can you sneeze at this and this is
what I don’t understand it’s like if the fundamentals and you taught me this if
the fundamentals are telling me if I have a marginal chance of losing you
know like what 50 cents to go make a dollar let’s see will I make a dollar
here just about you know 75 cents whatever it is why would I why am I not
why are people you know and I think I know this okay because people are
marketed people are marketed to death I mean it’s the same thing in my industry
everybody wants to know give me give me give me ten things to test you know to
to talk to a girl give me ten things and give me the ten things say after and
I’ll be fine and and wealth and true wealth and you know this and you talk
about this so beautifully and eloquently in all your videos is a true wealth is
created by going home at the end of every single day and saying to yourself
well you know what maybe I made $17 today because I was wrong six out of
seven times right but I didn’t lose and I didn’t get destroyed and I’m and I’m
ready to trade another day and there are opportunities all day long to be making
money it’s and I think that’s the market I think the market is just made people
become so greedy you watch the TV show billions you know and it’s like I want
to be Bobby Axelrod you know and it’s like you know and it’s a great show it’s
my favorite show it’s ever but I just think that people and and I’ve been in
the self-help business for 18 years and you know delivering so much information
to people and I think that if you all just took whatever came to you and you
all have different money you know it’s like some of us are wealthier than
others you know but we’re all playing with different amounts of money somebody
who’s got $300,000 in there TD Ameritrade account and they’re scalping
all day long is gonna build their account up very quickly right yeah and
you know but if you have a little bit of money
it’s just be careful with it and trust the patterns it’s like you taught me to
trust the patterns I remember I came to like 10 days ago and I sent you a text
oh my god all these you know I was freaking out
like oh I’m overanalyzing it I mean I was up all night long and I saw moving
averages and everything else but it’s like there’s so many beautiful systems
to learn right it’s like learn and this is what everybody says just learn the
ones that work for you and you’ll always be leaving money on the table yeah oh of
course there’s an old saying I never buy at the bottom and I never sell at the
top and you know what I’m okay with that because I don’t have a crystal ball and
neither do you and neither does anybody and neither day nor does Jim Cramer yeah
the only person who might have a crystal ball is a maybe a Jerome Powell because
he’s the head of the Fed okay he has a he has advantages we don’t for the rest
of us that not even Warren Buffett has a crystal ball so when you get stopped out
realize you’re not perfect it’s okay because you’re again cutting
our winner our losers short letting our winners run means that when we win we
win two or even three times as much as we lose when we lose we’re losing small
amounts we’re gaining much bigger amounts when we win and so we can be
wrong half the time or even more than half the time and still come out ahead
in the long term and when you’re emotionally okay with that when at the
end of the day you lost $500 but you’re not kicking yourself and you’re not
revenge trading trying to get it back immediately when you just say okay look
I’ll make it back I’ll make it back tomorrow or the next day it’s okay trade
your plan plan your trades you’ll be ok if you have a good plan and if you have
good coaches and a good mentor and so what one last question I I just wanted
to ask what are you might laugh at this one
are there any I’m sure the answer is yes are there any parallels between the
world of dating advice or pickup advice and trading advice what are the
parallels between them how are they similar oh my god it’s it’s there’s so
many it’s such a great question first of all I want to thank you you know for
being one of my mentors and this is such a I you know I wanted to get in this
field for one reason because I want to be able to carry my laptop anywhere and
make money in any trending market even if there’s a bear market in three
even the stock market falls apart in two years and there’s a bear market it
there’s still things that are gonna be trending upward you know so you play the
trending upward it’s it’s I wanted something where I would never ever ever
have to rely on talking to human beings except and I wanted to be around other
people that support each other and that’s what I love about this trading
yeah I mean every single person that I meet is so supportive and so amazing
about my success and in the dating world yeah I can look at this chart and I can
show you like somebody who doesn’t know what they’re doing right so they got in
here even though the MACD is starting to cross back over and there they got in
right around here right you know right here cuz it’s still kind of on the
moving hours movie I was just kind of moving down folks right you know she’s
moving away from you you know it’s like here she is she’s moving away from you
she doesn’t really want to talk to you it’s like look there she is but you get
in and then you’re like oh my god oh my god oh my god rejection everybody’s
looking at me at Whole Foods I don’t understand what do I say what do i do
what do i do Oh a few green candle green candle and
they’re ignoring I mean this gap here in the MACD is basically here you are in
red angry here she is running as far away from you as she possibly can right
until finally she feels like it’s safe safe oh it’s safe now I can go up again
right and she starts flirting with another guy and at this point you don’t
know what the hell to do so a lot of people you know and you’ve already
bailed you’ve bailed somewhere in here and you’ve taken the loss right you know
you’ve bailed somewhere here because the moving average crossover you know you
bailed somewhere in here and you took the loss and you know you didn’t really
make much money you know cuz he got it you know you don’t make anybody cuz he
got in way at you know right when she was screaming away from you and then
just like any woman right when she feels safe she had her fingers crossed the
whole time and he or she she crossing her finger she’s like haha I’m gonna go
run it decide the direction I was running in the first place but you got
all scared so it’s it’s so much emotion in here you can see you can see the
people here just going oh god I got you know it’s like oh man I got a solid
goddess all I got I got a cell and that’s I love these red
panic candles are my favorite because you know and then this one is like okay
wait a second less people panicking less people more people wanting to talk to
you oh look it’s getting happy again you know it’s like you know and then I just
wait I wait I look at the histogram and I wait for the RSI to start climbing and
I wait for everything else and I wait for the volume to increase and there you
are right here in your red candle so it’s the same thing it’s like not
trusting the system and I think a lot of people and I’ve told people for years
David all you need to do is go out there every single day and observe your
surroundings because life is just red and green candles you know it’s just
momentum and lack of momentum and going with the trend or against the trend and
every day you can go out there and flirt but you choose to make it hard for
yourself every single time and you panic at the first sign of rejection you know
the first sign of being rejected you panic so you know you’re always late to
the party and you’re always the quickest one to get out so it is I see so many
things because this is to me this is all human emotions at its greatest because I
figure you know all these guys will oh yeah this crossed over let’s buy right
you know and it’s like you know and it’s like you all this crossed over let’s
sell you know and it’s like you know but they don’t realize that well you still
got some protection here right it’s not closing below that you could still roll
it out if you want so it’s it’s very much the same it’s just human emotions
in front of me all day long and it’s a lot of fun I haven’t had this much fun
in years that’s great I’m so proud of your progress and and so I think the big
lesson here perhaps the overriding principle of today’s video is in the
worlds of dating and pick up as in the world of trading don’t chase don’t chase
folks let it know you you know okay now that doesn’t mean don’t put effort into
it that doesn’t mean don’t try hard in terms of studying getting a mentor
getting a coach learning learning learning reading great books watching
great videos or or you know courses whatever it might
be but when you start chasing when you start trying to be like everybody else
being a follower you don’t do well be a leader think for yourself do your due
diligence have a great coach you’ll probably be alright and if you
want some of that life coaching dating coaching whatever you want and financial
ideas as well David Wygant dot-com check out his podcast check out his
youtube channel follow him on Twitter these is constantly tweeting putting out
great nuggets of wisdom there and advice I’m always on there those links will be
in the description below this video david wagon i’m not giving you a choice
you have to come back here again sometime soon absolutely because i want
to see your updates i want to see what’s next
and how much money you’re making it and how you’re doing it how you’re improving
so thank you sir I appreciate it thank you for yeah thank you for coming out
looking at the markets you you’re welcome back anytime sir thank you thank
you for watching please like comment and subscribe and I’ll see you next time

3 thoughts on “David Wygant: Day Trading Cryptos for Daily Profits

  1. Thanks for this! You are a great teacher and anyone who is looking to learn how to invest for themselves should book some time with you!

  2. David, I need you to teach me this crypto chart stuff as you taught David W. as well as the options. I'm just waiting for this court case to clear and I'm back on my feet.

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