Seth Walsh
The man in the mirror is my only threat
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So.
The advantage we have versus prop shops, hedge funds etc is that we have NO OBLIGATION to trade every day.
The best objective strategy? You WAIT for the markets to move (i.e., you wait for price to displace from a "mean" point, in 1 direction, with follow through and continuity).
Something traders get confused on is "buying the dip". Buying the dip is for long-term investing. Trading requires buying assets that are trending, and you buy with the trend, and limit your downside losses. That's how you stay in the game.
Simplified to a one liner?: Wait for the markets to trend. The best strategy when markets are moving sideways, or choppy is to KEEP YOUR DRY POWDER.
^^ Simply do nothing.
I am using some of my 2023 Solana gains to jump into coins like Injective and Dogwifhat. Very nice profits so far. I have no take profit target, I'm in it 'til the markets trend no more.
I do know exactly where I'll get out if the markets move back towards my enter price though.
Cap your downside. Compound your home runs. Do not trade in markets that aren't trending. And most importantly - all these cryptos are CORRELATED.
You could trade any of the big coins and still make as much money as if you traded a higher volatility coin.
When you adjust volatility for a coin like $WIF. You can see it's very similar to just trading Bitcoin with leverage.
It's all about the risk reward. It's all about keeping your money and having it ready for the next market surge.
It's stop start. Those who are always in the markets get crushed. Knowing when to stay out and when to jump into a position all guns blazing, makes all the difference.
We don't know what will happen, we don't know how far the prices will move up. We have to be reactive. Imagine the price can move up ad-infinitum. Preparing for that situation, while capping your possible losses with stoplosses, leaves you in the most advantageous position possible.
Good luck in all your trading!
The advantage we have versus prop shops, hedge funds etc is that we have NO OBLIGATION to trade every day.
The best objective strategy? You WAIT for the markets to move (i.e., you wait for price to displace from a "mean" point, in 1 direction, with follow through and continuity).
Something traders get confused on is "buying the dip". Buying the dip is for long-term investing. Trading requires buying assets that are trending, and you buy with the trend, and limit your downside losses. That's how you stay in the game.
Simplified to a one liner?: Wait for the markets to trend. The best strategy when markets are moving sideways, or choppy is to KEEP YOUR DRY POWDER.
^^ Simply do nothing.
I am using some of my 2023 Solana gains to jump into coins like Injective and Dogwifhat. Very nice profits so far. I have no take profit target, I'm in it 'til the markets trend no more.
I do know exactly where I'll get out if the markets move back towards my enter price though.
Cap your downside. Compound your home runs. Do not trade in markets that aren't trending. And most importantly - all these cryptos are CORRELATED.
You could trade any of the big coins and still make as much money as if you traded a higher volatility coin.
When you adjust volatility for a coin like $WIF. You can see it's very similar to just trading Bitcoin with leverage.
It's all about the risk reward. It's all about keeping your money and having it ready for the next market surge.
It's stop start. Those who are always in the markets get crushed. Knowing when to stay out and when to jump into a position all guns blazing, makes all the difference.
We don't know what will happen, we don't know how far the prices will move up. We have to be reactive. Imagine the price can move up ad-infinitum. Preparing for that situation, while capping your possible losses with stoplosses, leaves you in the most advantageous position possible.
Good luck in all your trading!
