There are Millions of traders around the world and only 5-10% of them are actually making money with it. Why is that? There is a very good reason behind it that is most of the successful traders are emotionless when it comes to trading. They develop their own analysis of charts and believe in them. This is what makes them different and earns them a lot of money. Seems easy right? But you know what it takes years and years to develop these qualities and have good confidence on your analysis. I am a huge fan of Chris Dunn and his thoughts about trading. He is one of the professional trader and the he always says the Warren Buffet quote “Fearful when others are greedy and greedy when others are fearful” to remind herds vulnerabilities and how to see it as opportunities.
I am going to share an example with you where people panicked and sold their bitcoins (Maybe Negative news about bitcoin). Professional traders took it as an opportunity and purchased bitcoins. These traders were going completely opposite to the stream. After a few days their purchase paid off and made them a good profit. Instead of being scared about purchasing and investing in bitcoin, they put aside their emotions and believed in their technical analysis. Don’t go with your emotions, it may nullify you.
Good Luck for future trades. I will be posting about technical analysis of charts with recent examples in my future posts. STAY TUNED!!