Thoughts on the waiting game

raserrano (63)in #thoughts • 7 years ago

There is currently a waiting game for the crypto market, there are more news coming from which token under performed and which one has recovered x% in the previous 2-3 days or just mix the numbers create an small trend like chart and sell that to your readers. It seems that we are seeing a waiting game as there are no real events triggering possible movements on the father of al cryptos #btc. Once #btc starts its move say up or down pretty much everything will follow and for now what ever that could possibly be said has almost no foundation.

_{Bailey playing the waiting game with me}

But there is knowledge as well, you can create your own indicators and ideas on how any token will move and if you are constantly studying the charts you could possibly understand the patterns and moves that some token even in this uncertainty can do and you could probably take advantage of. Bitcoin will drive prices of the 2019 and I'm kind of foreseeing the same 2017 pattern but then people are just thinking in current levels, maybe we will have to get used to see 1 bull year and 1 bear year, but I'm sure day traders and swing traders will keep on getting fueled by movements and making the trades. There is always a chance to make good trades no matter what market conditions are present you just need to focus on studying the movements and trying to understand the 2 key concepts that I've been trying to learn:

When to get in
When to get out
I've considered myself a hodler in many occasions just to recently understand how bad timed my trades were performed and how many times I've lost better profits by hodling you could get in in lower levels and then get out almost at the same level you were hodling, that is pretty much the main mistake I've done so far.
The waiting game gets inside our brain and feelings and then we just start daydreaming what could eventually be a good get out price but we tend to get paralyzed by the fact that it could be way higher and then we keep on hodling just to see couple weeks later that we were wrong and that our possible profits were quickly erased. It would be easier to put those tokens in a safe place and hen review if your bet was right or wrong. I'm not saying that this is wrong just that is not really trading. But again, trading is just not about analysing, charting and then starting a trade or buying position, but also to know before hand what is your sell position, it has to be 2 different exit paths, when will you get out with profit or when will you get out loosing the least, in both exists the door has the same text: I hope next time I will perform better, please try again. A trade won't finish once you have a 50% profit, but I expect it to be 5% 99% of the times and keep doing that until you want. Is not a matter of buying a lottery ticket and see how much times you have increase your starting fund, but how many times you can make it grow no matter how small the increments are.


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Thoughts on the waiting game

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