Trading Crypto With Writingamigo: Sticking to the plan.

I keep getting punished for not sticking to my plan and choosing greed instead.

See that abnormal spike which goes to 1200? Well, it was always my plan to sell on 1200, whales gave me an opportunity, and when I was about to press sell, I figured "what the hell, let's pump it a little bit more." It is hard not to expect 100% pumps in this crazy volatile market full of irrational people. But I'll tell you; it's not worth to ditch your plan for some extra money. In most cases, you end up broke and demolished.

I find it hard to determine my plan and even harder to follow it. However, I made myself some easy guidelines. There are only three things that can happen:

  1. You buy, and the price doesn't change. You just keep waiting. Easy.

  2. Price starts falling after your buy. Panic starts. To be honest, if panic starts you are already doomed. So... you don't panic. You just have to know how much are you are prepared to lose and how much time you are prepared to wait. When you know those things, you can easily put a stop-limit and wait. After all, it is impossible to profit from every trade, but it is only wise to make your losses as low as possible. OR... you risk it all because of "money cannot buy you happiness" and similar BS.

  3. Price starts pumping. Excitement starts. To be honest, the excitement only sounds like a cool thing. In reality, it is a disguised biatch, which tries to make a failure from you. So... you don't get excited. You just know at what price you are going to sell, you wait for that price, and you sell. Easy? Only in theory. Of course, you might only sell some of your coins and gamble with the rest. I do it sometimes... alt coins are too cool not to grow by 200% in 20 minutes. That said, I don't encourage to hold when you see an abnormal green candle without any support whatsoever (just like in the picture). Those candles burn very fast.

What's the best plan, tho? Just buy every alt coin and wait for it to pump. I am just kidding... except I am not. It is a crazy market, and you have to choose for yourself. My only advice from my long betting experience:

If you keep losing your money for four consecutive years, maybe you are not right for the business.

So yeah, trade with consciousness. And remember if your plan is to get rich and you stick with it, you are probably going to achieve it. Just saying.

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Wait to buy til they're settled and quiet, sell 'em when they go nuts and riot! lol

Works like a charm as well!

Those candles burn very fast.

So true.

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