CryptoEngineering

Is it the beginning of the end or the end of the beginning? #6

Long
BITTREX:MANABTC   Decentraland / Bitcoin
My objective isn’t to buy at the cheapest price or near the low, but to begin buying at exactly the right time, when your chances for success are greatest. This means that you have to learn to wait for a stock to move up and trade at your buy point before you make an initial commitment. If you work and cannot watch the market constantly, small quote devices or quotes available on cell phones and Web sites will help you stay on top of potential breakout points.

I just kept saying this coin cannot go down any further. I did not know what I learned later, that there is no such thing as cannot in the crypto market.

When the break came almost all of the cryptocurrencies had been hurt or fractured. It was now a question of estimating how sick the coins were and how long their sickness would last. I reasoned that if a coin has fallen from 850 to 200, it will almost certainly not climb up to the same high again for a long, long time. It was like an athlete with a badly injured leg who would need a long period of recuperation before he could run and jump again as before.

Should I buy $mana at the strongest support level since 2018? Yes.
Should I sell #mana when the strongest level is broken with a loss? Yes.

How much should I invest it? The first thing I would say is always bet less than 5 percent of your money on any one idea. That way you can be wrong more than twenty times; it will take you a long time to lose your money. I would emphasize that the 5 percent applies to one idea. If you take a long position in two different related grain markets, that is still one idea.

The next thing I would advise is to always use stops. I mean actually put them in, because that commits you to get out at a certain point.

One day, I made a particularly bad trade and lost about $3000. Since I only had about $30,000, that was a very big loss and it was destabilizing. I then compounded the error by reversing my original position and losing again. To top things off, I then reversed back to my original position and lost a third time. By the end of the day, I had lost $10,000, or one-third of my entire capitalization. Since then, I have learned that when you have a destabilizing loss, get out, go home, take a nap, do something, but put a little time between that and your next decision. When you are getting beat to death, get your head out of the mixer. Looking back, I realized that if I had had a trading rule about losses, I wouldn't have had that traumatic experience.

Don't be a hero. Don't have an ego. Always question yourself and your ability . Don't ever feel that you are very good. The second you do, you are dead.

In the crypto market, and success has nothing to do with being lucky. You have to study and prepare yourself so that you can become successful on your own with your investing. So make yourself more knowledgeable. It isn’t easy at first, but it can be very rewarding. Anyone can learn to do it. You can do it. Believe in your ability to learn.

TARGET? The charts speaks itself!

*** Converted from Premium to Pro + , The signature ( my twitter link gave an error ) That's why The idea is hidden from the public. Re submitting.
Trade active: 1D open - close below 500 sats , it is not so good!
Trade active: Buy at 1D open close above 520 satoshi
or
Buy at 150 satoshi.

No need to hurry for it
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Got my first bitcoin in Oct 2013.
Became a full time day trader in Nov 2016.
Got the ALGO trading idea in May 2019
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Backtesting since Sep 2019
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Comments

What is the "H" icon at the bottom right of the chart for? Is that a reminder for your friends take you to the hospital for a blood transfusion if you rode it all the way down from the top? LOL
+1 Reply
@BDG, You are smart, dude!
That is exactly what I was thinking about it :D :D
Reply
Good coin for trading MANA
Reply