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RE: 1/25/2017 The Market View and Trading Outlook
Whoooooo! Baby goats!!
I do love a tightening pattern... but I love this report for it's step by step play of the indicators, with the gradual inclusion of further indicators to help. I honestly don't know how any traders make money, it all seems so open to interpretation.
I was hoping we'd be back into a bull market after the Weiss ratings, but I guess we'll just have to see. It definitely delivered a much needed shot in the arm.
C+ So not a runner for the Academic decathlon but we will wait and see... I think investors are taking it as both good and bad.. They noted what we already know, slow transaction times and high fees, near inability to upgrade, yet adoption is improving.. Not much in the way of something miraculous and unheard...
As to making money trading?.. It can be tough for sure.. mostly when emotion comes into play.. I tend to do pretty well and accordingly is how I sustain myself... :) Patterns are patterns, indicators are indicators, and no one single one is the indicator of indicators.. You have to take the cumulative total of all available information + experience, overall market direction, historic performance etc and make a decision. Most importantly don't be looking for a home run all the time.. base hits win the game.. You have been following for a while, so you remember my ETH calls, LTC calls etc.. Base hit, Base hit, Base hit.. triple, Base hit.. etc.. Many times I just sit out if I'm not feeling it.. and I cheat as I like to buy with the trend as opposed to using a magic 8 ball and playing pick the bottom.. I'm o.k. jumping on the bus if its going my way..
Ah... if I've learnt anything from you, its that jumping on an upward trend that has volume support is the smartest play there is.... that's not cheating at all.
I do have to wonder if the markets lacklustre form is mostly due to the Korean exchanges no longer being listed on CoinMarketCap. It shouldn't have made any difference whatsoever... but maybe retail investors only like to jump in to a market with a page of green...
True and what makes crypto so interesting is that really all we have is patterns and TA as opposed to Fundamental Analysis.. There are no real earnings reports, quarterly shareholders meetings etc for things like BTC. Now for some of the Alts that may come into play as the coins are basically shares and have an underlying company are business model associated with them. It's tough to play at many times and like I said.. I'm all about catching a ride going my way or seeing an opportunity based on TA that is somewhat obvious like the LTC call a couple weeks ago.. That said I missed the ETH run up before it, but oh well.. I was to busy on BTC charts and there is only so much time in the day. Certain setups present themselves quite often and when I see one I'll go in with a stop and take a risk, but not in a downtrend or bear market.. sideways or bull, sure.. but not playing flip the coin against the bear...
No so subjective and open to interpretation.. hit the top of the triangle and got kicked in the face... and smashed lower on higher volume...