80% of my trades look like this and TP hits at the wicks. Fixed risk/reward trades are nonsense. You need to be able to read the chart and find the place for your TP based on probable price reaction points. It doesn't mean that the price will stop going lower or higher, but it is predictable where we might see some temporary reaction between buyers and sellers. If your TP are hitting at the wicks, it means you are doing a good job at finding these places. #eurusd #gold
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In trading, you always need to have a full picture of how to manage things, and any partial knowledge will be punished with a loss. For example, I see around an 80% chance that BTC will be higher in the next 7 days, but I can't long it because I have no strategy for how to manage that if it's not going higher this time. It just gives me a signal that I can't short it, but at the same time, I can't long it because I don't know how.
Noobies will try to trade 20 strategies to always stay in the market and feed their egos, but that's not the way to do it. You have to control your ego and understand that there is no point in always being in the market. #btc
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Its hard to believe how many respected experts are out there when 99% of the time it's impossible to predict moves based on the news. They just rationalize it after the fact
I really have no idea why things move the way they do, and I really don't care. It is fun to speculate, for sure, and sometimes things are obvious. But in the long run I do best staying 100% technical.
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MD retweeted
I really have no idea why things move the way they do, and I really don't care. It is fun to speculate, for sure, and sometimes things are obvious. But in the long run I do best staying 100% technical.
People are obsessed with narratives.
From BTC saving the financial markets, to GOLD as a safe haven during war, to Silver shortages based on solar panel production and how the factories have no way to manufacture the solar panels anymore (currently down 56% from the TOP), and now the AI memory demand narrative.
People never learn. These are just stories we tell ourselves to justify our investments. They just reflect our hopes so we can feel we made decisions based on smart financial analysis instead of greed.
But it is always greed.
If you need to find yourself a good story to justify your investments, it's always greed. And it always ends the same when the music stops. #mu #btc #silver
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Everyone tries to compare this market with with .com bubble, but fundamentally it’s much more like Crypto bubble in 2021.
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