RE: A bit of my history with trading, prediction market activity on the platform and how to pretend that you are good at trading!
Hey acidyo,
Trading is risk management. You create an edge by trading high probability setups, with high risk:reward ratios and you MANAGE YOUR RISK accordingly.
TRADING IS NOT GAMBLING.
Traders focus all their attention on their sexy new strategy and overlook the fundamental thing that makes you a good trader: Not blowing up when things go to shit. And they will go to shit eventually. It is how you manage that risk that will determine whether you're a successful trader.
This next section also really caught my eye:
TA's are not completely useless, I have no clue about them in usual stock trading or other commodities, but in a young market such as cryptos and with its volatility day-traders do have a bigger impact on them than anywhere else.
Now I've seen this come up a few times around the crypto community and I'm really not sure I can get my head around it either...
Even in panic stricken markets based on fundamentals (think NFP releases, Brexit, Trump shock etc etc), they still trade in a technical manner. Actually, a good example is the latest Bitcoin drop when markets were overpricing SegWit risk. Zoom into your intraday BTC/USD charts and look at the way that price kept pulling back to intraday support turned resistance and dropped. Markets always follow structure that can give you an edge no matter the market.
It doesn't matter how 'mature' the market is, how panicked the market is or how bullish/bearish the market is. Technical structures play out because of supply/demand.
I encourage you to get back into swing trading (longer term trading the higher time frame charts) with a different mindset :)
Thanks for the great comment, you did kind of make me want to get back to trading a bit. :)
Dooooo itttt!
:)
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