Okay, okay. Not really. I made it all back, plus more just days later. Let me explain how the value of #BTC to dollars works, and why it doesn’t matter in the long term. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
We saw a massive drop in bitcoins price from 1/15 to 1/17 - falling all the way from $14,000 to $9,000. As bitcoin fell, the entire market fell, and my portfolio at its lowest had dropped nearly $160,000 from what it had been just 48 hours prior. Was I shocked? Yes. Was I upset? No. Let me explain. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
As a trader, I care more about accumulating bitcoin than I do about accumulating dollars. The reason being that if you are a #bitcoin trader, you understand that the value of bitcoin versus the dollar will continue to rise along the short term, so you’re main goal is to accumulate as much BTC as possible. When bitcoin slipped down $5k and took the market with it, opportunities stood out everywhere among alt coins to make massive 30-50% profits. I moved my bitcoin into severely undervalued coins once a support level was found and waited for the market to rise. In the end, as BTC slowly gained back its USD value, I had made an additional 50ish percent of BTC with my trading stack. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
It’s important to be able to detach yourself emotions from your trading. I lost more money in 2 days than most people make in 2 years, but because I was calm and reacted with a plan instead of exiting all my positions, I managed to come out on top. Remember - even on your worst days, you’re still making more money than the #forex guys 😊
#Repost from bro @cryptonary
Yes, the transaction speed is too slow for now, and it has issues with scalability.
But, I took my #altcoin profit into #BTC as safe haven, not #FIAT
Peace bro ✌️ respect your opinion and love your content 👊
Often times we enter a winning trade only to blink and find ourself in a losing trade. How many times have you said to yourself: If only I took my profits, while calculating how much you could have made. The more I give back my unrealized gains to the market the more I realize that it’s not about identifying the top of the trade but mastering part of the trade, taking profits, and sizing up! Don’t forget profit=profit and profit>loss
After having two very green weeks I got a little too confident and started going into each trade with about 100 more shares than I normally trade. I had 5 red days in a row this past week while risking more than I was ready for on unfamiliar patterns. In retrospect, I should have traded 50-100 LESS shares or not have traded at all and simply just watch the market
In order to be consistently profitable, you need to train yourself to trade without fear.
Here are a few ways you can do that:⠀
1. Accept that losing is part of winning.⠀
2. Practise proper risk and money management.⠀
3. Review your past trades and learn from both your wins and losses.⠀
Download our FREE Ultimate Trading Guide for Beginners! (Link in bio)⠀
Week 44 Summary $ALQA $APPS $ARLZ $BLRX $CRNT $CYTR
Compounding wins will make hundred of thousands dollars consistently!
In 44 weeks we only had ONE losing week! That’s a 97.7% win average!
Our goal is to provide value to those who are interested in trading. We want to show you the power of turning over your money weekly with a proven strategy that works, and prove it with our data the exponential growth potential of your hard earned money.
We show you what we are buying and at what price targets, we show you our strategy, we show you our process of how we pick the stocks, and you keep all the money you earn!
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All trading is at your own risk. -
The Plan. The Psychology. The Profits.