RE: VIDEO: EPISODE#4: BITCOIN CRASH FALL TO $1,650 current price $,2504, 10 July 2017 https://steemit.com/@supertrader
Thank you my friend, I do have a high accuracy rate but seriously if i'm not spot on i really don't care as I have my risk defined and being "wrong" just tells me I need to get back in rhythm with the market.
You always want to "go with the flow" (line of least resistance) as we are just small frys riding on the backs of the "Big Money". Going in the wrong direction helps one to work out that one is simply out of touch and one need to read market sentiment better. As you do this often enough, you develop a feel for the way its going but NEVER get complacent or cocky as the market chews you up and spits you out. Believe me I learnt the hard way but lesson learnt. I wish I had someone to advise me on all these things which no trader talks about why ? because they dont know. They only know how to press buy and sell buttons and then they say they are a trader. Trading is fundamentally 3 skills: mind management, risk & money management and willing to quickly admit when you are wrong. This will keep you out of 90% of trouble and save you a fortune, let alone making you a fortune.
Our community is growing and we now passed 100.
Would be lovely for everyone, as you often do, to share comments, thoughts and opinions - I love to hear anyone and everyones thought process as everyone has great value. Please dont be intimidated that you dont know enough or you will sound stupid. You won't, trading is simply buy and sell if you buy and sell you have an opinion. Lets hear it. I wil always be a student of these markets so I can learn from you all. All I ask is everyone is polite and respectful.
If that's all you ask for, then you are asking for nothing at all.
It cost's nothing to be nice
I do fully agree with you of course that a large amount of people do not read the graphs when they are right so so often.
I find myself day trading using the exact same method as you just used to get my target zones. Only difference is I take into account if the money is short or long. Of course that is much easier to do on an uptrend.
It has been tough going these day's with the extra volatility
Day trading is not for the faint hearted. So hats off to you for doing this.
I do day trade for income and to keep my finger on the pulse but I prefer positional and swing trading as for me its less intensive and I feel more in control. But I do love day traing as well, I just dont tie up too much in my allocated capital here. Cryptos are great to day trade.
Please it would be great i you share your analysis i'd love to learn from you.
Day trading can be a cruel mistress but with the current tech we have and a lot of learning through loss almost anyone can be successful.
I have had to change my mindset from how I react to coins losing value. I no longer emphasis the BTC value and only focus on increasing my share through trade regardless of price. I am putting alot of focus on ANS/LTC/NEOS and recently XVG.
I find by focusing on coins with great long term potential you take a lot of stress out of the dips while making profit in the long run. You also become very familiar with the swings just by the price without need to readjust your calculations.
I would categorize it as long term day trading because I intend to keep my position in above until I have reason not too.
The last 25% I use to bounce around depending on the current gossip just chasing a profit.
Sound advice. Thank you for sharing your real experience and insights.