We have traded both and markets without unnecessary margin risk. Though we did not hit any home runs, our batting average is over 700. Hello Cooperstown! This is an example of how money management, patience, and going after small profits while cutting losses quickly compounds your portfolio. Its also why we have to zone out the crowd noise when we are trading. What happened to the Korea ban on cryptos that I heard about? ;). Just like baseball players you have to zone out the noise!
Bitcoin has been resilient and I believe we test the old high or make a new one before pulling back in a major correction. A strong green bar at the close of day would confirm this move. The 14500 and 15500 levels are the 0.382 & of the previous corrective wave. These are levels we will expect a slight pullback.
Bottom line, trading is not easy, its tough work and requires dedication and focus. Money management and small gains are the keys to success. Yes once in a while we hit a home run, but that is only because we were focused on base hits.
I'm not so sure I would be comfortable here with a short play on margin! Those must be some uncomfortable shoes right now! Should have taken profits at 11k when you could have. Take profits when you can where you can, and stop trying to become a millionaire overnight!
Buying one $13,700 share is = to Buying 100 $130.70 shares or 1000 $13.70 shares. All three positions cost $13,700.
If this was Apple and we bought 100 shares at $137.00 I would not be flipping out if it went down to $130. If this was AMD and we bought 1000 shares at $13.70 I would not be flipping out if it went to $13.00. The price is relative. If your nervous your risking tooooo much period! The chance of us going straight to $5000 without any pullback is slim to none! Especially in a longer term bull market. Not that it can't, but we should be able to identify a price structure breakdown. I do not see that at this point!
If your going to trade understand you will never time the top or the bottom, with few exceptions LUCK! Stocks, gold, coins go up and down whether in a bull or bear market. You have to understand this. In the context of the longer term trend we are still bullish. Even today we had another higher low. But you have to allow time for the market to move. Look at multiple time frames and do not focus on one. You'll get tunnel vision trading!
Are you waiting to attack a position with Tether or Fiat or just trading one crypto for another ?