Market manipulation. Man does it tick me off. How do I cope?
This is a TUTORIAL about ATTITUDE and is NOT technical analysis. Maybe my thoughts (rant?) will help you remain calm the next time they manipulate prices.
I'm gonna "get real" here and be a little rude and a whole lot long-winded. If you don't like me, that's fine. Block me. But my objective is honorable in that I hope to help you develop "stalls of beel" if you get my drift. Fingers crossed that will make it through the moderators.
Greetings from central Pennsylvania, USA. You can call me Pops. I'm 59. My thoughts on September 7th...
Here we go again. Another EIGHT THOUSAND DOLLAR DUMP in BTC price in TWO HOURS. Who among us is NOT frustrated? It's obviously market manipulation and it's universally DISGUSTING. BUT, it is not the end of the world. My ATTITUDE has saved me from financial loss during EVERY dump like this without fail.
So how do I avoid losing money? That's EASY. And how do I TRY to remain calm? That's not so easy. In fact, it's VERY, VERY difficult to remain calm because I hate it when "the strong" take advantage of "the weak." But remaining calm is possible - for ME - because I have DECIDED BEFOREHAND how important it is and how I am going accomplish it.
My "attitude/investment/trading" rules are, in general:
1. ABSOLUTE NUMBER ONE RULE is that I do my financial business on a large computer screen. NO MOBILE PHONE CRYPTO!! That's like trying to look at the universe through a pin hole. The first thing I tell friends is if they want to talk crypto investing, use a real computer or you're just not serious.
2. I refuse to "have" FOMO or FUD. They are EMOTIONAL reactions and I refuse to risk my money with emotional decisions.
3. It's all MY money. No leverage trades. NEVER, NEVER, EVER! Leverage, in MY opinion, would cause ME to "go broke quickly." No thank you. I'm patient enough to "get rich slowly."
4. I NEVER sell during these dumps. NEVER. Period. I know market manipulators have dumped the price because they are preparing to allow it to go up again. And - I have seen it over and over again - it will probably recover within a couple of days. Look, man, I didn't make no money and I didn't lose no money until I either take profits or sell at a loss. Until that happens, it's just numbers on a screen.
5. Every supposed "nightmare" like this dump presents an opportunity - for a person with a resilient ATTITUDE and a creative mind.
Those are just some of my general rules.
Now here is what my resilient attitude is doing with today's nightmare. To make the math easy and to keep this EXAMPLE easy, let's just say the 10 o-clock candle high was $51,000 and the 11 o-clock candle low was $43,000. Those are not the PRECISE numbers, but this is all "food for thought" and is "approximately" what I have done today...
I have now set aside a portion of my portfolio EXCLUSIVELY to take advantage of these dumps. In this EXAMPLE ( that's EXAMPLE) I bought .1 BTC at $4,682 when the 11 o-clock candle closed. I'm not gonna bullcrap you and say I "caught the bottom" at $43k. But that gigantic tail on the 11 o-clock candle says the close at $46.8k is about as low as I could buy without using a crystal ball. And I immediately set a sell order for when the price returns to $51,000 and I'll be selling my .1 BTC for $5,100 and now I've got a little bit more to "buy the dip" and repeat this process the next time this happens again.
So I've got chunks of money for different investment and/or trading purposes. And another chunk today. Not financial advice. Blah, blah, blah. I'm making a decent living, especially for an old dude in crypto. If you think I'm an idiot, you are absolutely correct. So block me and move on. Of course I'll be an emotional wreck for days, but, in time, somehow, my life will have meaning again.
However... if you are a person who understands the value of thinking outside the box, of brain-storming, of "kicking around ideas," then stick around because every post I make is going to be just like this.
NOW CHEER UP, MAN!
I'm gonna "get real" here and be a little rude and a whole lot long-winded. If you don't like me, that's fine. Block me. But my objective is honorable in that I hope to help you develop "stalls of beel" if you get my drift. Fingers crossed that will make it through the moderators.
Greetings from central Pennsylvania, USA. You can call me Pops. I'm 59. My thoughts on September 7th...
Here we go again. Another EIGHT THOUSAND DOLLAR DUMP in BTC price in TWO HOURS. Who among us is NOT frustrated? It's obviously market manipulation and it's universally DISGUSTING. BUT, it is not the end of the world. My ATTITUDE has saved me from financial loss during EVERY dump like this without fail.
So how do I avoid losing money? That's EASY. And how do I TRY to remain calm? That's not so easy. In fact, it's VERY, VERY difficult to remain calm because I hate it when "the strong" take advantage of "the weak." But remaining calm is possible - for ME - because I have DECIDED BEFOREHAND how important it is and how I am going accomplish it.
My "attitude/investment/trading" rules are, in general:
1. ABSOLUTE NUMBER ONE RULE is that I do my financial business on a large computer screen. NO MOBILE PHONE CRYPTO!! That's like trying to look at the universe through a pin hole. The first thing I tell friends is if they want to talk crypto investing, use a real computer or you're just not serious.
2. I refuse to "have" FOMO or FUD. They are EMOTIONAL reactions and I refuse to risk my money with emotional decisions.
3. It's all MY money. No leverage trades. NEVER, NEVER, EVER! Leverage, in MY opinion, would cause ME to "go broke quickly." No thank you. I'm patient enough to "get rich slowly."
4. I NEVER sell during these dumps. NEVER. Period. I know market manipulators have dumped the price because they are preparing to allow it to go up again. And - I have seen it over and over again - it will probably recover within a couple of days. Look, man, I didn't make no money and I didn't lose no money until I either take profits or sell at a loss. Until that happens, it's just numbers on a screen.
5. Every supposed "nightmare" like this dump presents an opportunity - for a person with a resilient ATTITUDE and a creative mind.
Those are just some of my general rules.
Now here is what my resilient attitude is doing with today's nightmare. To make the math easy and to keep this EXAMPLE easy, let's just say the 10 o-clock candle high was $51,000 and the 11 o-clock candle low was $43,000. Those are not the PRECISE numbers, but this is all "food for thought" and is "approximately" what I have done today...
I have now set aside a portion of my portfolio EXCLUSIVELY to take advantage of these dumps. In this EXAMPLE ( that's EXAMPLE) I bought .1 BTC at $4,682 when the 11 o-clock candle closed. I'm not gonna bullcrap you and say I "caught the bottom" at $43k. But that gigantic tail on the 11 o-clock candle says the close at $46.8k is about as low as I could buy without using a crystal ball. And I immediately set a sell order for when the price returns to $51,000 and I'll be selling my .1 BTC for $5,100 and now I've got a little bit more to "buy the dip" and repeat this process the next time this happens again.
So I've got chunks of money for different investment and/or trading purposes. And another chunk today. Not financial advice. Blah, blah, blah. I'm making a decent living, especially for an old dude in crypto. If you think I'm an idiot, you are absolutely correct. So block me and move on. Of course I'll be an emotional wreck for days, but, in time, somehow, my life will have meaning again.
However... if you are a person who understands the value of thinking outside the box, of brain-storming, of "kicking around ideas," then stick around because every post I make is going to be just like this.
NOW CHEER UP, MAN!