I would like to save people from getting burned so after 3.5 years of being in this space here is my advice:
1. It is easy to fall in love with an investment, especially when you believe it could make you rich.
Have belief, but don't be blinded by it. Consider that you could be wrong, late, or even too early.
2. Price can remain irrational longer than you can stay solvent.
Getting chopped up in the range will dwindle your capital that can be very hard to recover.
3. If everyone knows it, the market will no longer follow that path.
The moment you determine a certainty is the moment you're destined to learn some lesson.
4. Doing nothing is hard.
It feels good to be all-in, but this pushes emotions to the brink for new investors that can't stop looking at the screens.
Trading/investing can be as simple as drawing one horizontal line on a chart.
Price goes above and you're in.
Below and you're out.
Numbers don't lie.
Develop a plan and cut the emotion.
1. It is easy to fall in love with an investment, especially when you believe it could make you rich.
Have belief, but don't be blinded by it. Consider that you could be wrong, late, or even too early.
2. Price can remain irrational longer than you can stay solvent.
Getting chopped up in the range will dwindle your capital that can be very hard to recover.
3. If everyone knows it, the market will no longer follow that path.
The moment you determine a certainty is the moment you're destined to learn some lesson.
4. Doing nothing is hard.
It feels good to be all-in, but this pushes emotions to the brink for new investors that can't stop looking at the screens.
Trading/investing can be as simple as drawing one horizontal line on a chart.
Price goes above and you're in.
Below and you're out.
Numbers don't lie.
Develop a plan and cut the emotion.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.