I’m well known for my ability to take a punch from the markets… but I gotta say… boy oh boy, the last few months of crypto trading have left a few marks. And it’s not that I haven’t been through the wringer many ties before, so I sort of knew what to expect. But it sucked big time, not gonna lie.
A dam breach is considered a catastrophic event and when one occurs in this day and age you rarely ever hear the end of it. Everyone’s focus is suddenly on the underlying reason for the dam’s failure and of course who or what is responsible.
A few action items came up over the weekend and rather than writing a longwinded post I decided to put together a video for your erudition. Since I have a face for radio I never really enjoyed filming myself but I think I’m slowly getting the hang of it.
When analyzing a market the most important consideration is whether you are looking at a trend (up/down) or a trading range.
Who wins a race? Not a fair race though, rather an anything-goes if you ain’t cheating you ain’t trying hard enough kind of race. Probably the guy who leaps first, all else being equal, right? So you get advanced warning on who the BIG winners are going to be because they take off early and they are relentless in fighting for the win.
Look it’s not your fault but you are doing it all wrong. Don’t feel bad, it’s simply that nobody ever taught you how to do it the right way. No I’m NOT talking about that thing your spouse complained about the other day – your secret is safe with me. I’m talking about trendlines and specifically the right way to draw them. And how to profit in the process of course!
August carries a bad but undeserved reputation as the month when bad things happen to good people as well as a few not so good professional traders. I’ve come here to dispel that entire notion as August’s bad rep is entirely based on a few outliers which happen to stick out like a fistful of sore thumbs. Naturally that’s what everyone is focused on whilst completely dismissing the entire rest of the dataset.
Sometimes trading opportunities stare you right in the face but most traders are either unable or unwilling to see them. A lot of that has to do with what many refer to as one’s personal ‘lens’. But honestly the reality is that many traders have a tendency to stick with what they already know and the way they do it, even if that has been proven to not yield positive results on a long term basis.
Don’t you sometimes wish you could somehow travel backwards in time and place a few trades based on what you know? Or perhaps travel forward and then return with next year’s football almanac or next week’s lottery numbers? Unfortunately my time machine is still in the shop but in the interim I can do you a solid and teach you the next best thing: How to interpret the financial news to your advantage and consistently bank mighty coin in the process.
Much to the chagrin of all those detractors and doubters … Bitcoin just hit $40,000 overnight. Yes, it happens that fast in a bull market. From zero to hero. Which is exactly why I didn’t design the system to jump in and out of tethers or what have you for (perceived) safety. You know who you are 😉