IF YOU'RE A TRADER, READ THIS❗️
The market recently changed trend with almost a 50% dip & making new entries or looking at charts can be dangerous to one's mental health especially newbies.
Here's a simple thread explaining the current happenings in the crypto space.
#Retweet🙂
The market recently changed trend with almost a 50% dip & making new entries or looking at charts can be dangerous to one's mental health especially newbies.
Here's a simple thread explaining the current happenings in the crypto space.
#Retweet🙂
This current situation of negative volatility in the market is a clear reason why it's always advised from the start to always apply proper risk management and use stop losses in all trades (depending on your sentiment).
One thing you need to know as a trader is that the market doesn't go up always, there'll surely be pullbacks/corrective moves/retracements or what can simply be known as "dips" in simple terms, this is necessary to maintain normalcy and sustainability in the market
and this can be called the Bulls' push and the bears' pull, the dumps are always expected hence it would be very delusional if you believe in "UpOnly".
And you may want to ask "Why are there dips? Shouldn't everyone buy and hold to make money together?"
And you may want to ask "Why are there dips? Shouldn't everyone buy and hold to make money together?"
Lol fellas, one simple thing I want you to know is that no one eats crypto, it's just a digital asset and the goal of every trader is to make money from owning it, and as easy and reassuring it is to say "you haven't made a loss until you sell", it's also a very needed fear to
let you know that "you have not made profit until you sell too", what you see in your dashboards or portfolios are just mere numbers, what actually matters is the money in the bank, that is for you to cashout and spend, not money in portfolio unless you actually have it converted
to a Stablecoin like $USDT or $BUSD and the end goal of these is still money in the bank in my opinion though.
The Cryptocurrency market isn't controlled by robots, it's still a market made by man and whose control and directions is dependent on the actions of a selected and
The Cryptocurrency market isn't controlled by robots, it's still a market made by man and whose control and directions is dependent on the actions of a selected and
influential few who own the most and heavy shares of the market, these people are those we refer to as the whales, you know how big a whale is in the ocean or sea and how it's movements create water currents and can influence tides, this the same way we have super wealthy traders
in the crypto space whose decisions affect the operation of the market, if these whales decide to "cashout" as they always do, they'll have to sell for cash and when they sell, they sell in hundreds of millions of dollars to billions, and this simple movement from them affects
the market but this time, negatively. And this is the same way the market got pumped into profits due to big institutions like Tesla and Microstrategy and also wealthy traders and investors like Elon Musk and Michael Saylor entering crypto.
Now one thing I need to tell you is that EVERY MARKET IS MANIPULATED, even the physical markets where we buy and sell our essentials are manipulated by those in power and this affects the way we as end users or civilians live,
and this phenomenon applies to a markets be it Crypto, Forex, Stocks, etc.
This message isn't to cause FUD (Fear, Uncertainty and Doubt), but it's the reality of things which you need to know, there are those who amass insane volume of funds
This message isn't to cause FUD (Fear, Uncertainty and Doubt), but it's the reality of things which you need to know, there are those who amass insane volume of funds
and coordinated influence in the markets, and these are those we refer to as Smart Money, they work behind the scene and you don't trade against them, what you do is trade with them and follow their steps and that is why experience as a trader or guidance from an expert is needed
or else you become ordinary pawns in their game and they suck out money from you till you quit.
See this tweet explaining exactly what I mean
You see how perfectly planned and accurate that was?
Lol don't fret, it's normal and it happens everywhere.🙂
See this tweet explaining exactly what I mean
You see how perfectly planned and accurate that was?
Lol don't fret, it's normal and it happens everywhere.🙂
Richard D Wyckoff said and I quote …"All the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man's operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to
your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it"
And this sums up everything you need to know about trading in general, you can't avoid manipulation, what you can do is ride the waves and take advantage of it.
And this sums up everything you need to know about trading in general, you can't avoid manipulation, what you can do is ride the waves and take advantage of it.
These guys understand trading psychology and how it plays out on most traders which is why they move the markets to shake weak traders (paper hands) out, or haven't you wondered why you'll sell a coin and it'll pump a few days after? Or you buy a coin and the next thing is
it starts dumping and then you try to hold and you feel it won't recover in time and you sell, it starts pumping again which puts you at a double loss...
Lol, it's not robots that control those prices, it's humans that do so behind the scenes and this is why those of us who
Lol, it's not robots that control those prices, it's humans that do so behind the scenes and this is why those of us who
Calls on here because as profitable Cryptocurrency trading is, it's also very destructive which is something we're witnessing now.
If you're new to crypto, perhaps you joined last year or this year due to the hype and profit results you've been seeing all over the TL,
If you're new to crypto, perhaps you joined last year or this year due to the hype and profit results you've been seeing all over the TL,
You're now knowledgeable enough to know that things can also go bad too which is why you're always told not to invest any amount of money you can't afford to lose.
Almost every trader has lost money in this dip, but the impact it has on us differs which means we'll all have
Almost every trader has lost money in this dip, but the impact it has on us differs which means we'll all have
Different psychological reactions to this, and this takes us back to a topic - RISK MANAGEMENT.
Some people borrow to trade which is something that shouldn't be tried at all!
Do not leverage trade, and do not have too many bags... Have a trading plan and stick to it,
Some people borrow to trade which is something that shouldn't be tried at all!
Do not leverage trade, and do not have too many bags... Have a trading plan and stick to it,
Yes you'll surely have losses but they can be mitigated on time.
Know that for every individual that put their school fees or house rent into crypto and X100 it, 100 people dropped out or were sent out for doing the same but instead getting liquidated, and here's where you ask
Know that for every individual that put their school fees or house rent into crypto and X100 it, 100 people dropped out or were sent out for doing the same but instead getting liquidated, and here's where you ask
yourself is the risk worth it? What are the odds that this is going to work in my favor?
If the odds are against you which I'm sure they'll always be, it'll be better for you to step out and head another direction, Crypto isn't the only place to make money so don't let anyone
If the odds are against you which I'm sure they'll always be, it'll be better for you to step out and head another direction, Crypto isn't the only place to make money so don't let anyone
intimidate you (though everyone should know about it due to the financial benefits and progress it brings)
Don't get intimidated by what you see, a lot of people are showing results from a testnet portfolio, some are edited and not real, some are hedge positions,
Don't get intimidated by what you see, a lot of people are showing results from a testnet portfolio, some are edited and not real, some are hedge positions,
so don't FOMO or feel left out, there are always opportunities.... And if you feel you're losing money on a trade and it's affecting you, you can either choose to sell off at a loss or ignore the trade and expect an increase later on though like I said there are some bags you
don't sell and that depends on your sentiment because if you sell your bags, someone else is buying it up. Smart Money?
Remember:
- Don't FOMO.
- Don't borrow to trade.
- Don't overleverage.
- Always Take profits.
- Do your own research.
- Always Apply proper risk management.
Remember:
- Don't FOMO.
- Don't borrow to trade.
- Don't overleverage.
- Always Take profits.
- Do your own research.
- Always Apply proper risk management.
And don't forget to live in reality too, money isn't the goal, freedom is.. Money is just one of the means to achieving that goal.
If you're new and this is your first time experiencing this kind of dip, welcome to the crypto world.🤝
I wish us all a good recovery.
Thank you❤️
If you're new and this is your first time experiencing this kind of dip, welcome to the crypto world.🤝
I wish us all a good recovery.
Thank you❤️
Here's the beginning of the thread in case you want to retweet.
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