Simple setup. Moon mission $70k boarding if we get this last correctional C wave.
Comment:
A few thoughts on the coming months...
In hindsight, the PA before we broke ATHs was some of my favorite to trade. The big correctional C wave was baked in but the timing was a little off. You see, time and the function of timing something isn't your ally - not in life, not in trading. It's something that we hedge yet we have no way to actually mitigate the effects it has on us.
Why is this important to trading? You don't need to necessarily know how to time a correction, but rather you must know how to spot one on the event horizon. By spotting the correction before it happens, you can position yourself. By positioning yourself, you secure your ability to catch that correction - regardless of timing. But catching the correction doesn't mean you're catching the knife.
You see, positions should be built on the way up. Why? It's hard to be wrong when corn only goes up. You buy, buy, buy and price just goes up, up, up. You're a genius, you're a trading wizard, you're gonna be fucking rich. It's hard to find a bad time to buy and build your position when week over week the price just keeps going up.
Sure - you can be all of those things (maybe for other reasons), but at the same time, you're a ticking time bomb. What are all those sweet gains if you never realize them? If you give them back to the market? The most important part about trading is knowing when to sell. You see I called the top - I was off by ~2% sure, but I still sold.
Did I sell too early? Maybe. Could I of realized more gains if I sold later? Sure. But what I did do was preserved my winnings and when I sold at $64k in April I did it with conviction.
You see, again it's all about timing. Markets like life are cyclical, there are starts and finishes, ups and downs. Within time a correction will always occur but the real question is what side are you on when that happens? The side that can catch the correction and start to build their position when the market changes direction or the side that that wishes that was them?
I sold to guarantee what side I would be on. When many people were longing $68k in November, I shorted. Why? This one is also about timing. With euphoria, ATHs, and your favorite Crypto Twitter scammer calling for a straight shot to $250k, Bitcoin couldn't get over the white line for a second time. That failure happened at the perfect time to cause max pain.
So what's next? Purgatory for a while.
Okay, then when do we leave purgatory? Whenever the correction occurs.
Alright, ATHs? Whenever the correction occurs.
Fine, there is a correction coming, when does the correction occur? I'm not sure, but that's the thing - I don't need to know.
Why? Scroll to the top and start reading again.
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In hindsight, the PA before we broke ATHs was some of my favorite to trade. The big correctional C wave was baked in but the timing was a little off. You see, time and the function of timing something isn't your ally - not in life, not in trading. It's something that we hedge yet we have no way to actually mitigate the effects it has on us.
Why is this important to trading? You don't need to necessarily know how to time a correction, but rather you must know how to spot one on the event horizon. By spotting the correction before it happens, you can position yourself. By positioning yourself, you secure your ability to catch that correction - regardless of timing. But catching the correction doesn't mean you're catching the knife.
You see, positions should be built on the way up. Why? It's hard to be wrong when corn only goes up. You buy, buy, buy and price just goes up, up, up. You're a genius, you're a trading wizard, you're gonna be fucking rich. It's hard to find a bad time to buy and build your position when week over week the price just keeps going up.
Sure - you can be all of those things (maybe for other reasons), but at the same time, you're a ticking time bomb. What are all those sweet gains if you never realize them? If you give them back to the market? The most important part about trading is knowing when to sell. You see I called the top - I was off by ~2% sure, but I still sold.
Did I sell too early? Maybe. Could I of realized more gains if I sold later? Sure. But what I did do was preserved my winnings and when I sold at $64k in April I did it with conviction.
You see, again it's all about timing. Markets like life are cyclical, there are starts and finishes, ups and downs. Within time a correction will always occur but the real question is what side are you on when that happens? The side that can catch the correction and start to build their position when the market changes direction or the side that that wishes that was them?
I sold to guarantee what side I would be on. When many people were longing $68k in November, I shorted. Why? This one is also about timing. With euphoria, ATHs, and your favorite Crypto Twitter scammer calling for a straight shot to $250k, Bitcoin couldn't get over the white line for a second time. That failure happened at the perfect time to cause max pain.
So what's next? Purgatory for a while.
Okay, then when do we leave purgatory? Whenever the correction occurs.
Alright, ATHs? Whenever the correction occurs.
Fine, there is a correction coming, when does the correction occur? I'm not sure, but that's the thing - I don't need to know.
Why? Scroll to the top and start reading again.