So BTC is trending,... down. Is it bad? No. Is it expected? Yes. Should we hodl? It's probably not the best strategy a professional trader would do.
So, in the chart, we see the daily price action since the massive breakout and retracing. How far will it go? We can only speculate like everyone else has.
Follow the herd up and follow the herd down. That is what successful traders do. Counter trend trading will make professional day traders rich. Investors should follow the herd.
So, how do we play this. First, if you don't use stop loss orders, you will loss. That's said in plain english. Most "investors" don't use stop loss orders or know how or where to place them. Everyone has their own strategy and there are a million ways to make money in any market. There is one way you loss money,... not closing your losing position early. When you close your losing position, you realize losses. If you don't close a losing position, you could blow up you account. We have all been guilty of this and have whipped and beat ourselves over it, until we do it again. When we finally embrace stop losses and cutting losers short, we will live a whole lot better and happier.
So back to BTC. Did you use a stop loss? If not, and you are reading this. Do it now. If BTC falls from 9800 to 6000 that is almost half of your investment. Do you want to hodl half you money? Even if you bought in the 1400 range. You will be able to buy twice as much BTC with the funds you got stopped with. That sounds good, sounds good to me. "i'm up, who cares? If i place a stop at 8500, Ill only have $X to buy BTC when it bottoms." - and that is the point.
Trade and position yourself to take an opportunity. My stomach is strong, but to hodl until my funds are half sounds idiotic. Knowing I can buy at any moment, anywhere. I placed a few alerts on Coinbase to alert when BTC crosses below 7000 and 6000. I also placed an alert when it crosses 10,000 again.
That is what a successful trader does.
Liquidate when things are not going as you thought. Be ready to strike when an opportunity presents itself.
Good luck trading and keep you eye on the $$$$.
So, in the chart, we see the daily price action since the massive breakout and retracing. How far will it go? We can only speculate like everyone else has.
Follow the herd up and follow the herd down. That is what successful traders do. Counter trend trading will make professional day traders rich. Investors should follow the herd.
So, how do we play this. First, if you don't use stop loss orders, you will loss. That's said in plain english. Most "investors" don't use stop loss orders or know how or where to place them. Everyone has their own strategy and there are a million ways to make money in any market. There is one way you loss money,... not closing your losing position early. When you close your losing position, you realize losses. If you don't close a losing position, you could blow up you account. We have all been guilty of this and have whipped and beat ourselves over it, until we do it again. When we finally embrace stop losses and cutting losers short, we will live a whole lot better and happier.
So back to BTC. Did you use a stop loss? If not, and you are reading this. Do it now. If BTC falls from 9800 to 6000 that is almost half of your investment. Do you want to hodl half you money? Even if you bought in the 1400 range. You will be able to buy twice as much BTC with the funds you got stopped with. That sounds good, sounds good to me. "i'm up, who cares? If i place a stop at 8500, Ill only have $X to buy BTC when it bottoms." - and that is the point.
Trade and position yourself to take an opportunity. My stomach is strong, but to hodl until my funds are half sounds idiotic. Knowing I can buy at any moment, anywhere. I placed a few alerts on Coinbase to alert when BTC crosses below 7000 and 6000. I also placed an alert when it crosses 10,000 again.
That is what a successful trader does.
Liquidate when things are not going as you thought. Be ready to strike when an opportunity presents itself.
Good luck trading and keep you eye on the $$$$.
Trade active:
Yes we are now close to my LOAD IT UP! area. I've started purchasing. in at 6300- 5900s so far. only up to a 1/3 position. See how cheap we can buy at. Good luck all.
Trade active:
Looks like BTC might come back to the LOAD IT UP zone, 5800 - 5600. We will have to look at the price price action and order flow to determine whether the those levels will make a solid floor. We will have to revisit the analysis once the move is made. Good luck all.
Trade active:
Nice bounce off the zone. Be ready for a pullback. Don't sell too much. enjoy the ride. :)
Trade closed: target reached:
Haven't closed position, im not crazy. But... I place stops below consolidation in case of steep pullback. I would love that to happen. If not... Just "HODL"
Trade closed: stop reached:
yes. I was stopped out at 10,760 area. I kept raising my stops up. It acually went higher than i had thought a few weeks back. So.. im sitting in cash waiting or next entry. I did sell all my LTC at 217 area as well. Looking to enter back in the 180-200 range. Good luck.
Trade active:
Trading for coin but looking to reload. going to start opening positions with a 7k bounce.
my graph is still valid.
my graph is still valid.
Trade active:
looking to make purchases from 8k and lower at $30 increments.
if there is a breakdown below 7K. I will be buying bigger lots.
GOOD LUCK. get ready for blast off.
if there is a breakdown below 7K. I will be buying bigger lots.
GOOD LUCK. get ready for blast off.
Trade active:
yes yes yes. load it up zone is coming. still buying into the sell off with bigger size. my last order is set for 5800 in hopes it fills. other than that. looking to hold for a while. not too much action on this sell of but i was able to increase the number of tokens i hold by selling and buying back at a lower value. lets see what kind of bounce we make..... I feel like it will be epic with the price structure that has formed. Good Luck and now is a good time to buy and hodl.
Trade active:
Now or never. No stops in place, only buy orders from here down.