Report Back: BTC made it to previous Green Target 2 and it is about time for Money Man to prove his existence and contribute another analysis. The route we took has been fairly smooth climbing a ladder. We are sitting again with a build-up of potential (Money Man tries to analyze at these times and not turn out lots of analysis – he does not always get this right but tries).
This makes him think about all the “Emergency” analysis that comes out and all the running to and fro – all amounting to lots of stress and leaving a small percentage of people showing meaningful gains. Trading, in Money Man’s opinion, should be a bit boring. Forcing you to show patience and providing you with a mind that is clear and can still live a life beyond trading. How? Be proactive and make time to sit down and pump your calculator a while and see what your trades would mean to where you are on the chart – not your P&L as much as real estate on the best position on the chart. You might like the excitement and even be good at short term trading (keep doing what works), but if it is not working for you, you might want to consider trading longer time frames with trades set beforehand and you having made peace with the worst-case scenario on your trades if it had to come to pass. Also ask yourself if you are developing your skill as a trader or not.
Conclusion: BTC has enough go in it now to move far and fast from here, but it will first have to break the high and a struggle there could deplete its potential quickly – that is to say if Decision 1 is positive, if so Green 1 is a good adjustment spot in his opinion. Remember: no guarantees only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
This makes him think about all the “Emergency” analysis that comes out and all the running to and fro – all amounting to lots of stress and leaving a small percentage of people showing meaningful gains. Trading, in Money Man’s opinion, should be a bit boring. Forcing you to show patience and providing you with a mind that is clear and can still live a life beyond trading. How? Be proactive and make time to sit down and pump your calculator a while and see what your trades would mean to where you are on the chart – not your P&L as much as real estate on the best position on the chart. You might like the excitement and even be good at short term trading (keep doing what works), but if it is not working for you, you might want to consider trading longer time frames with trades set beforehand and you having made peace with the worst-case scenario on your trades if it had to come to pass. Also ask yourself if you are developing your skill as a trader or not.
Conclusion: BTC has enough go in it now to move far and fast from here, but it will first have to break the high and a struggle there could deplete its potential quickly – that is to say if Decision 1 is positive, if so Green 1 is a good adjustment spot in his opinion. Remember: no guarantees only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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