I feel like Bitcion BTC is teetering on the edge of a cliff. But I may be wrong.
Crypto Down Turn, This morning I closed my XRPUSD long and took profits. I am concerned that it is heading into a correction and I decided I wanted to buy back in at around $0.39.
Remember here I’m trying to predict the future, so I could be wrong and you must make your own decisions, this, of course, could be a tiny correction and XRP could rally straight up. But in my humble experience of trading and what the MACD is telling me I’m happy to pull out here and then buy-in at the lower price. I’m happy with the profits made so ready to move on.
To add to my thinking, my ETH I’m thinking about getting out of, however, if it breaks up from here who knows where it will go. It has had a small drop but this is normal for currencies.
To be honest it does like like it may have broke a trend line and lost interest in moving up. I just have one consideration. It’s Monday and markets have only just opened (well a few hours ago). So I’d like to see how the day goes before making decisions on my ETH holdings. I’m in a tidy profit and can afford to drop more than his but I may put my stop in at $1620.00.
I could be completely wrong on $BTC, $ETH and $XRP.
The thing you must remember here is I could be completely wrong. I mean drastically wrong, really wrong. BUT I have been doing this for about 10 years trading currencies. However. I can still be wrong.
That is why I don’t like signals. You really are relying on someone else to do the work for you. Get an education and learn the markets, learn about inflation, NFP, stocks, how markets move. I have autism so I’ve probably read most things and watched every youtube video on the subject.
Greed will kill you.
I do not like fast rallies. I do not like unpredictable markets. They are nigh on impossible to trade and you become a nervous wreck. One of the main causes of loss in any market is knowing when to quit.
I learned this the hard way. I tended to hold far longer than I should have. The problem is the belief, you buy into a stock or device, so you WANT it to go up, so you convince yourself by drawing lines on charts or reading the right stuff on the internet that somehow is going to make it move the way you want.
Be cold and hard on yourself and you will be a much better trader. It is however a very hard balance between taking the right risk and being so cautious you never hit the button. If it was easy everyone would do it. A lot try and fail.
