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RE: MOVING SIDEWAYS
It does if I say it does!
I hear what you say, but this isn't mindless TA. This is the tune I have been singing all along. I am 100% confident in it, and in my ability to predict it on that level. I refer you to my previous post for reasons: https://steemit.com/cryptocurrency/@bitbrain/bitcoin-price-predictions-chart-display-part-3-the-s-curve-more-good-news
You'll see ;)
I'm sure you could be right, but you could also be exactly wrong. That's what I mean when I say it's a 50/50 gamble, the best traders in the world understand that. Just be more profitable when you're right compared to how much you lose when you're wrong, that's how to make money.
I know you've got good fundamental reasons to believe it's going to go up, just as I have good reasons to believe a particular FX is going to go up (or down). Anyone can take a gamble, toss a coin and win 50% of the time. The difference is how you deal with it if you're wrong...
That's the money management I keep banging on about. Ask any single trader in the world who consistently makes good profits, what their absolute number one advice is, and 100% of them will say 'good money management'.
If I'm wrong then I'm rekt. If I'm wrong, then crypto will fail entirely. It's not impossible, but the odds are heavily in my favour. A risk perhaps, but nothing like 50/50. I would never have entered the market with odds like that (I'm a lousy gambler). But like gambling: I wrote off my entire investment as soon as I entered the market. If I lose, it's okay, I'm not relying on it for my income. If I win, it's bonus. For what it's worth, I'm still well ahead despite the massive market dip.
You're probably ahead because you're sensible about and put in the work, research. Most people pick coins because they like the name or saw a post by some guy on the internets who said it's going to the moon...
I don't doubt for a second you'll do ok, but after a very long time I can attest that markets are essentially random in nature. Sure, crypto will be around forever and hopefully people like yourself will do very nicely out of it, but where the price of any one coin will be in a years time is still 50/50.
Say someone invents a quantum computer next month that can mine BTC in femto-seconds, well that's BTC dead then. Sure it'll get replaced by something else that quantim proof, like all the ASIC proof stuff coming out at the moment, but I believe literally anything coud happen to any coin at any time.
You mean I shouldn't be picking coins on names alone? Damn. There goes my entire investment strategy!