I Blew My Account (story time)I'm back y'all. I thought I vent a little. Here's a short story-time of why i've been gone and I hope it helps anyone in their trading journey. How's the week going?
Storytime
A short story about bitcoin's 2021.. NOT FINANCI.. oh heck.
STORYTIME.
So, once upon a time..
Early Jan: Institutions (smart money) are triggered, and buys in.
Late Jan: Retail take profit. Too yummy to resist.
Early Feb: Smart money continues buying.
Late Feb: FOMO profit taking is seen. Meanwhile, FOMO buying is also accumulating.
Early Mar: Strong FOMO buying > FOMO profit taking.
Late Mar: Smart money waits on the sideline, loads their ammo.
Early Apr: Smart money tests the water and sells a bit, baiting FOMO retail to buy in.
Late Apr: FOMO retail don't want to miss out $100k and takes the bait.
Early May: Smart money smiles. Opens their bag, overturns it. Retail still biting but..
Mid May: Retail unable to stomache the dip. Cuts losses and dumps for fear of more losses..
Late May: .. but they did not realise that Smart money, with their slightly empty bag, overturns it, but this time to gobble up all the bitcoins that FOMO retail are selling.
Moral of the story: 💎🙌🏻
GOOGLEI've been away, that just means I've been making more moves. Forex has changed my life tremendously and i will forever be grateful for actually trusting the process. For trusting myself, and my higher power.
This is not only for me but also for my family and future children and generations.
Please always remember your why. Keep going until you build a consistent positive skill. You got this.
Now lets make this money. Flag Pattern. Buy or Sell opportunity?
Look out lol
GOLD STORY TELLING TIMEThe ominous swings of the delicate "safe-haven" asset will reside in the short term as gold approaches it's ultimate arch nemesis, the 1700 level. It will sneakily approach 1700 with few signs of deterrence and enter the 1700 arena like a lion stalking it's prey, waiting for the right moment to pounce. The fragile gazelle (1700 level) will soon realize the pleasant valley it was grazing in was not as peaceful as previously thought, and the chase will begin. The lion (bulls) will be initially relentless as the gazelle runs for it's dear life. As the lion gets inches from it's prey and about to pounce on it's next feast, the lion will trip over a large stick and fall to twist it's ankle, delivering a striking blow... The lion will heal for a few days but when it comes out this time, it will not have time for games from it's prey. Think of a shark smelling blood in the water or the story of David and Goliath or your first win on Call of Duty Warzone. As the final circle is closing and decision time comes for the bulls and the bears, the bears will fall into a deep hibernation, and the bulls will break from their cages with unmatched vigor. Picture Spain's "Running of the Bulls" event. Gold will then live to see another day as it reaches it's next opponent, 1750.
Exciting TimesBack toward the resistance we go! This should be fun, just make sure to constantly update your stop losses so you don't get caught out. Now I've already posted a vibrantly worded analysis... kind of? Anyway, here's the deal; Bitcoin is like an explorer pushing through scrub, and now they're getting close to some thick 'n' thorny jungle. The question is, did they bring a sharp machete? We will find out soon enough, eventually it will break this bear market and the bulls will run again but is it going to happen this soon? I remain seated with a healthy skepticism, unable to shake the feeling that this climb has been a little too steep, considering the "healthy" trend channel (big and green) is getting left behind. Remain cautious fellow traders, and may the gains rain upon you all.
Story of how I panicked sold like a bitch + LTC Predictions (: Man what a crazy night. Definitely a lot of FOMO and FUD. It was a humbling experience especially when I broke my personal trading rules. I didn't step away from the computer and I let my emotions take control. I did cut my losses which I was prepared to do and 100% did not regret the decisions, but I realized I could have mitigated the amount if I reacted with conviction and surety. Then I did the worst thing any trader can do... I chased the market. There was a lot of price manipulation going on last night. I had buy orders back in at $68...I saw the market spike back to $70... saw that ETH wasn't dipping at all and I bought in.....BOOM two seconds later market dropped back down to $68. Sold at another loss....only to have the market recover...
The group chats had a great conversation about learning to trade without emotions. How some of them stepped away from the screen when they saw the panic starting to hit and went to eat a nice dinner. Came back and viola market recovered and all is well. While i stood at my screen semi raging at my own stupidity :P I drank some beer, played CSGO & PUBG and ended the night hanging with friends and a tough lesson learned .... cost me $3,000. OUCH (Still more than I learned in college, haha JK).Learning to streamline your efficiency as a trader involves getting a strong grasp of your emotional control and risk management. Yesterday I got a BIG FAT F in both departments. Thankfully I recovered most of the losses this morning.
I decided to update my TA's and when I looked at the original chart I posted last week i seriously felt like a big ding dong. The market has been following my predictions fairly closely and I threw away my hours of analysis and supporting evidence just because a couple pennies moved. Yes, we have to remain agile in such a volatile market such as crypto...but we also have to stick to our guns. I do not regret the mistakes I made yesterday, but i realized I could have handled the situation better. Hopefully, I am not the only to have experienced this.
Price Predictions:
Several things can happen here. We still have a strong support between $70-67 range. We can expect consolidation and buildup here. It has been bot actions and low volume for the past week. ETH and BTC are hitting ATH and little bro LTC is feeling underappreciated. Is he the middle brother Ball brother??? LOOL Let's hope not. Personally, I think LTC will get its rise to fame. We haven't hit the volume and stride we needed, but I thinnk we are almost there. This has been a very resilient little coin and has been on an overall uptrend. It continues to break barriers at every turn when people just want to give up. Holidays are coming up...and I know this little coin will do well. I am setting my sell points at $75 - 80 for the next three weeks.
Great buy in points are $69-65. Even lower if BTC falls off its ATH. I can expect a quick recovery for ALTs affected and a bounce back.
Resistance for LTC stands at the $72.5-75 mark. If we can get volumes like we did last week to break the $66 TP, we are golden poney boy.
Again....to qualm the storms of those who own cryptos and LTC. One day we are going to look back when LTC was priced at $70 and wished we bought some more. Let us start looking big picture and expand beyond the day trading mentality (you can still make $$$$ DT LTC). In the month of November, we moved from $50-70. That's a big step for LTC.This baby is going to $100-200 next year. It is only a matter of time. Soooooooooooooooooooo dont be a dumbass like me. Stick to your guns and be confident in the trades you placed. :) Happy Trading and Happy Thanksgiving. Don't forget to give to those less fortunate than ourselves. Remember all of the money/success in the world will not matter if we never made a personal impact in the lives of others.
