"By three methods we may learn wisdom:
First, by reflection, which is noblest;
Second, by imitation, which is easiest;
Third by experience, which is the bitterest."
If you were bearish at the top, you’re allowed to remain bearish after 50% market-wide drawdowns if you are so inclined.
If you were bullish at the top, bullish all the way down but suddenly bearish at -50%, are you really bearish or simply a bitch?
"When the market is showing weakness that is the time to start to watch for relative strength. In an environment of sell pressure across the board during some kind of market wide event it is worthwhile to see which charts are putting in higher lows, and which ones are not."
Honestly a bear market or consolidation market is where you sharpen your skills. Anyone can look like a genius or great trader in a bull market all you have to do is buy a dip - This market is about survival
@Project_R097@_oogl_@BigCheds Not taking a position *is* taking a position... and is the best thing to do if you are not confident in entering a trade. But also, why not take a short with a reasonably tight stop loss (when you believe the time is right)? No more dangerous than a long with a stop loss.
Takes just one momentary lapse of judgement, one period of fogginess, to give up months, years or even a lifetime gains.
If you're going to play the trading game, you better be laser focused and serious, otherwise just buy hold/hodl. Your hard earned capital deserves it.
Make some really good money flipping an NFT, Alt-coin or whatever?
Don't just lever up on more junk.
Take some of it, add it to a #bitcoin hodl stack, add it to an ETH2 node, stake on SOL. Be it long focused. You get the drift.
Trader schizophrenia is real.
The same people in my feed who were bullish at resistance a couple of days ago are posting endless bear porn now at support.
It's a great window into the psychology of humans and the reason that almost all traders fail.
The main purpose of a diagonal trend line is to alert you as to when to look for a horizontal line break -
Be extremely careful structuring any trade based on a diagonal break