I have no idea

in #trading3 years ago

That thing some person said.PNG
So, with me being bad at figuring out how to reply to a memo given through my transactions (weird, but okay), I may as well answer this the usual way...
Honestly, I had to look up what TA is, and my best guess is that its some kind of market watch thing... And to all that, all I can really say is... I don't really know much about all of that.
Modern trading uses a lot of math for things that seems a bit questionable; when all you're looking at is changes in price, you're ignoring the more important factors of Scarcity and Utility.
Reading the listed article, the best I can puzzle out on what it means by a trend having to have its corrections be less than 30 something percent is something akin to flock psychology. Which in the grand scheme of things is unreliable as a stable investment, based on little more than reading people's whims.
I however, tend to work on the assumption that its a bit more reliable to NOT chase trends, and to instead start with a relatively strong and stable asset, and assume the market price is only going to fluctuate by small margins. With that sorted, I make buy orders on the exchange for a small bit bellow the current market price, and make sell orders for just above that price.
... Because, as a complete AMATEUR to trading, I'm going old school with this stuff.
Is this optimal? Probably not, and recently it seems that trading for bitcoin the price I could sell Bitcoin at went up a fair bit more than what I ended up selling it at... But hey, I'm not disappointed that I didn't make as much as I theoretically could have, profit is still profit.
What I am disappointed about is that I'm trading in amounts that could be likened to single cents at a time, for profits of tenths of a cent at a time.
All that said, I think if one wants to get a good angle on what you should be doing as a trader of anything, you should be reading news rather than watching statistics. The physical world's case of this would be looking up what mining operations for gold or silver are opening or closing to see if the supply is going to rise or fall... The Crypto World's version of this is looking at all the places that begin accepting crypto as payment.
For me, the point I knew I NEEDED to get into Bitcoin was finding out a site that sells Gold and Silver accepts Bitcoin. Meaning that if I accept Bitcoin for Digital transactions, I can then trade it for the #1 stable asset for long term savings.
... Well, that and the fact I don't have much faith that the mainstream payment processors won't kick me off a crowdfunding site if I finally get around to starting a project.
Anyways, I'm rambling; and all I'm doing by saying so much is proving how cheap talk is by saying like... 4 or 5 paragraphs in response to a transaction currently valued at about a hundredth of a cent.
(As an apology for having to make this a public response rather than a private one, I may as well make the account that prompted this response a 10% Beneficiary... Not that I expect this post to actually make anything.)


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