Up Up, And Away!

in #gambling5 years ago

t1.png

I'm feeling a bit better today about attempting to swing trade Bitcoin.

I bought in at 10500 and it crashed all the way down to 9100,
but I'm still holding and we are back up to 11k.

I still have five days to go before I sell to complete the swing trade.
Here's to hoping it goes up until then.

Let's not forget I'm swing trading with my stable coin hedge money.
Once again I have zero buffer in the market. Smart moves.

Gamble gamble.


fake news.png

No, it's not the news.

A lot of people are running around during this insanely volatile time saying the news created such and such swing in the market. This is ridiculous. Just look at the market. It's volatile on a wave pattern. News isn't making any of these ripples. All of these waves were created by the pump to 13.8k and now we are bouncing up and down in 4k increments.

The idea that Trump or whoever else has any effect on the price reminds me of poker tells. People say I must be good at poker because I can read people and they 'tell' me their hand.

Sorry to bust your bubble; this isn't the movies; poker is boring math. Sure, tells are a part of poker: a very small part that is hyped up by the Thrill Industry.

The truth is: the worse people are at poker, the harder it is to read them because they make all the same moves with a much wider range of hands. The best thing to do in that situation is to not read people at all and just play the fundamentals of the tight/aggressive style that makes the most money in the long run.

The same is true with news and crypto. Sure, crypto might crash or spike on a day with bad or good news, but guess what? The market was going in that direction anyway. The news didn't cause any of that price action to change from the average.

ron swanson quote fishing.jpg

Conclusion

Don't succumb to emotional illogical hype when making financial decisions.

Back to my JavaScript.

Sort:  

Build a man a fire
keep him warm for a day.

Throw a man on a fire
keep him warm the rest of his life.

The one day bitcoin chart just finished a beautiful Bart Simpson.

t2.png

Seems like we got one at 15 minute candles.

Hahaha! You are my man!!!
Patterns are more important than any stupid new.
Read the waves and anticipate the next move...that’s market dynamics.
Good post

Posted using Partiko iOS

This move up actually makes me way more nervous than most...because I have no idea where it's going to go. It could make a head and shoulders pattern...it could actually go back on it's way up. I'm not sure if I would sell somewhere about 12k, to buy a bit lower, or hold on an wait for a reversal.

No, it's not the news.

I've come to believe this in so many cases that I got in a bit of a disagreement the other day. Sorry, but I am not giving credit to Facebook for Bitcoin going up. I was watching it while they were saying that in the news, and I didn't see some insane movement related to the news. It was moving the way I expected. It was already on it's way up.

Crypto does not move on the news. Hell...I used to trade forex, and that barely moves on most news. The only reason it moves at all is because people think it will. Crypto, in contrast, has been trained to not pay attention to the news.

This last year has been a boom for crypto in the news. If crypto moved according to news we'd all be debating on which color of lambo we should take tonight to go out to the club and buy cases of Cristal.

Hello,

Well spoken, I commend you for staying strong despite the recent downfall! I may try one of these swing trades, but I’m always trying to stack and hold!

-pf

I donno fishing is not that easy ;). Good luck and you got cohonez

Show a man how to grow

Posted using Partiko Android

Coin Marketplace

STEEM 0.20
TRX 0.12
JST 0.028
BTC 66137.20
ETH 3543.37
USDT 1.00
SBD 2.56