once Saylor gets stress tested, I think btc and hype become the only crypto survivors. everything else is just fugazi with a ticker.
a shame, cause eth had all the characteristics and a huge advantage, but the foundation did not deliver -instead dumped on investors relentlessly.
Grok Build just created a game called Grok Racer for me. The great thing is that I told Grok to use Grok Imagine for the images in the game and it did! That’s fantastic and proves that Grok Imagine can also be used for active game coding. It works well and looks so cool.
$btc longs - and a full step-by-step guide
An educational-execution based hybrid post.
Low timeframe execution of our long idea: this is a good spot to perform your first trim.
Yesterday, at the time of the post, where price was at $73093, we have again received "the guaranteed reaction" from that zone, I have been talking about each and every time in recent past.
One that is clear to spot if you know what to look for.
Before I go further, I am very pleased with the comments of last post overall. Many commenting how they took a first attempt at the 72.7k-73k response zone, the exact time I posted this long plan. You immediately took my plan seriously. And whether that is your aggressive mindset, simply because you blindly trust me and my plans since they have been accurate and usually are accurate in general, and my zones very often show a response, just like this, or you instantly knew what to look for. All I say is: well done. Taking the long is also what I did, with some (I believed to be) too obvious hints. I quote myself from last tweet:
"And, in reality, this plan is clearly detailed enough to simply long here already in theory: enter here, stoploss below... ...so let's use it as a baseline framework and take the trade that way."
There were also some hesitators. "I am not sure about trying this today". "I would rather look for strength". "I think we can go deeper first". "I will wait for a better entry". To you: also well done. Because you firstly are able to believe in a plan (you likely have some good data to back you), and you have a mindset of selectivity. Which is prone to learning methodically what to look for, ready to be autonomous, you just don't know exactly what it is. The only danger is: you are now prone to FOMO after my anticipated classic first "guaranteed" reaction played out locally. So you may feel like you missed the best entry already, have to sweat a few hours. With price never going back to the low.
Is that possible? Not necessarily. But is this a missed shot?
Let's assume it is, then I would say: missing trades is okay. But missing trades when a setup is clearly prone is less ideal (missing a 2RR trade when your setup has formed is the same as taking two losses, because your setup forming gets you prone to enter).
And then finally, there were the few funny "bears". Saying: "we're going to drop from here, your plan is bad, we are going to 67k tonight" etc etc etc. Also all power to you. You believe what you want. You don't follow or believe in my core edge and framework and I am not telling you to. You may have your own reasons why you think the market goes somewhere and it could be better. But you are also the beginners, who simply don't know how to form a plan. We all start somewhere and awareness is key.
So the flow chart goes:
1/ Believers in my plan (strongly): taken the entry
2/ Believers in my plan: but hesitating/waiting it out
3/ Non-believers in my plan. (the bears, the beginners)
These three bullet points are the foundational decisions every single trader makes, every single time he sees, or creates a plan. To get to 1/ or 2/, it already takes some reasonably strong foundations. 3/ could be anything: either just watching, you are very skilled and have very good reasons to believe your own plan. Or, you hop from one plan to plan from one idea to the next, not even sure what to believe, because you don't know what drives markets.
Further steps
For each group: what are the next steps?
1/ are the ones who have been rewarded. They took the trade with authority and are now up 700$. The initial sweet "guaranteed" reaction.
What do you do next?
There are options. First thing you can do, is just hold. Hold and risk going back underwater. Psychologically? Fine now, but as soon as price goes back to BE, you will start to sweat. Going underwater? Even more sweat. Going deeper underwater? (Yet my plan is still valid): you may capitulate. Plan still works out in the end: very deep regret because you lost a trade which should have been a win. Sound familiar?
Better alternative: trim your trade at the first next liquidity area. Well Astro, where is it? I am telling you now, it's right here, right now at the time of this post. But to repeat it yourself, that is where edge comes in. Because you have to know. It's not excessively hard to determine though.
If you don't know, it also makes sense to just guess the trim (at 700-800 dollars, or if you have anxiety of price: just wait until the next H6 close after a "good" move), and then adapt the SL so that your portion of profits, after SL hitting, no longer results in a loss. And you have a (stress) free trade.
And use: Trim % = 1/(1+RR). For me it's up 1.2 RR right now so Trim % = 45% to fully eliminate risk.
If the trade gets stopped out later, then you get a free entry lower, look for a reaction and repeat the process.
If it runs to target, you get a big payout, because you just refined an entry with a tight SL (This SL here is just 1% tight), potentially catching a massive swing trade move, all for free and just one day of, relatively easy work if you know how to do it.
Where to put SL? I'm trying to keep the post short, maybe for another post. Choosing the low is okay. Choosing right under key liquidity you may find is better ("allowing for a sweep")
This is a classic example of how you: miss less trades, feel far less stress, and score huge runners for big pay outs, rapidly scaling your account, with the cost: just a bit of finesse.
2/ You are still hesitating.
A harder case... and it all depends on what your initial thoughts are. But since you have missed the right action (enter around my time of posting), you are subjected to wrong actions (fomo higher, which is bad, or revenge short "towards a better entry") etc, also bad and not according to plan.
You are also possibly psychologically frozen out of actions. If price goes deeper, you continue to hesitate. Recipe for disaster. Because markets love performing fakeouts or fake moves and if you don't understand those, you may get sucked in each time since you are not positioned. Compare that to 1/ who is just relaxing, monitoring, waiting for price to move. This is how liquidity is generated.
But you are very close to being successful because all you need is just that timing to enter. Not so hard of a step.
3/ You don't believe my plan. In the (let's humbly say) rare cases my plan fails: you will feel like a genius. "I knew it". "Astro is wrong". "I was right". "Let me write that in the comments". I will applaud you. And probably say something like: "I was wrong, I didn't lose money, but yes I was wrong, and you were right" and I would ask you: "But did you execute?". And you would hesitate.
Or in the business as usual case where my plan works, price goes up here to swing targets, where the overall plan clearly played out. You may feel like you missed price, or "admit you were wrong", maybe even performed a few executions in between. "Shoot, maybe he was right let me long".
No matter which one of these is yours, it's likely one of them, and for each, exists a solution (if you want to learn).
You are 1/ means you probably don't need much refinement if you know exactly where the liquidity is to TP, if you can anticipate these guaranteed reactions, and already have a strong understanding
If you are 2/ you already know what plans to believe in, or can put conviction in a plan even if wrong. You just don't know how to execute on it in a refined, safe and stress free way. Costing you lots of capital, more than it should perhaps. Certainly the most frustrating phase because you are so close to success yet the most prone to overtrading, or some emotional leakage. (Classic valley of despair).
If you are 3/ you either don't care about it, or you don't know how to form a plan in the first place and are a beginner. Your options are funnily enough quite broad.
You could simply learn how to enter first, and just in good faith, let a runner go hoping price magically goes in the direction. If you get really good at just spotting reactions, you could actually become consistently profitable.
Are you could learn to form plans and enter broadly first, going through the psychological stress.
The second route is the most logical, the first route may be the most stress free route funnily enough.
Most perform a hybrid and learn both someway along the way. The key is awareness to what you are missing.
My next steps?
Since I longed at 77093 (and didn't try to make it obvious), I know there is some liquidity at 73.7k, so I go ahead and make it risk free right here, adapt the SL ("Below the low", mine is slightly different, just not trying to show how bybit can make an easy 1 mil+ on me), potentially setting me up for a massive run to our swing trade targets.
I hope this has been insightful. A deep dive into how I trade every single step of the way, and how institutions do it as well (with some variations, I am just "retail" after all).
Sound like an extensive process. But aside from the fact that I was able to write it in one post, it's the same process, every single time, for every single trade. Do it once and do it a few times, become confident, and you can do it again and again and again, scaling capital fast.
Suddenly, your life changes, drastically.
In his first Bloomberg Crypto appearance, @giancarloMKTS tells @timsteno and me why he thinks prediction markets should not be treated the same way as sportsbooks or casinos. We broke the exclusive of his Jefferies senior advisor appointment last week
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