Yes, do nothing is better than blind following
Atualizado
If you take a look at the number of views on TV, you would notice that any charts on Cryptocurrency received the most views by far. Why ? I really don't know.
What I had learnt after mistakes and mistakes and still making mistakes is to take into consideration the bigger time frame like day and weekly.
With these two time frames, one can see with clarity where the price is moving. At its current price, I would neither long nor short. Why ? Thanks for asking that question .
1. You can see we are almost reaching the bottom , i.e. 80.15 as at Dec 18 pricing. Another 50 plus dollars or so if it make it there.
To short, it is wiser to sell it from a higher price level so that you can ride the wave down and enjoy a better rewards compared to the risks you had to bear. It is hard to say when the price will turn from here, it can be at the 128 level, 99.75 or 80.15. Or maybe, somewhere in between. Thus, I have to monitor the smaller time frame to ensure my profits are protected in case of volatility. That is not what I want.
2. Buying - I am still willing to stake a small % of my portfolio to bet on cryptocurrency but low can get lower and I believe there is more downside from here. So I have to be patient and wait out, probably checking back into this chart every few days or weeks.
Unless you have a clear and proven strategy that works, intraday trading carries high risks and nimble hands to execute the move. Yes, the excitement and adrenaline pump you get is like striking a lottery. I have been there and I must say it is addictive.
The objective of trading (at least for me) is to gain financial freedom and spend more time doing what I like and spend more time with my kids. If I am so stressed out monitoring the price action, how free can I be and what quality of life is that ?
So, I am doing nothing on all cryptocurrencies for now but would be monitoring their price action. Once there is a trade opportunity surface, I would update again.
Best of luck to those who are trading. Remember your SL , capital management and stay calm.
What I had learnt after mistakes and mistakes and still making mistakes is to take into consideration the bigger time frame like day and weekly.
With these two time frames, one can see with clarity where the price is moving. At its current price, I would neither long nor short. Why ? Thanks for asking that question .
1. You can see we are almost reaching the bottom , i.e. 80.15 as at Dec 18 pricing. Another 50 plus dollars or so if it make it there.
To short, it is wiser to sell it from a higher price level so that you can ride the wave down and enjoy a better rewards compared to the risks you had to bear. It is hard to say when the price will turn from here, it can be at the 128 level, 99.75 or 80.15. Or maybe, somewhere in between. Thus, I have to monitor the smaller time frame to ensure my profits are protected in case of volatility. That is not what I want.
2. Buying - I am still willing to stake a small % of my portfolio to bet on cryptocurrency but low can get lower and I believe there is more downside from here. So I have to be patient and wait out, probably checking back into this chart every few days or weeks.
Unless you have a clear and proven strategy that works, intraday trading carries high risks and nimble hands to execute the move. Yes, the excitement and adrenaline pump you get is like striking a lottery. I have been there and I must say it is addictive.
The objective of trading (at least for me) is to gain financial freedom and spend more time doing what I like and spend more time with my kids. If I am so stressed out monitoring the price action, how free can I be and what quality of life is that ?
So, I am doing nothing on all cryptocurrencies for now but would be monitoring their price action. Once there is a trade opportunity surface, I would update again.
Best of luck to those who are trading. Remember your SL , capital management and stay calm.
Nota
Ok folks, watch closely now if you are into cryptocurrency. It sits nicely on the support area around 127.30 and next week, it might breakout from that level.
Aviso legal
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