Read the success stories of crypto entrepreneurs.

Discussions are fun when we are part of a community.
Login Free Registration

Get 10 AltcoinN Points just by registering on this forums.

How to prepare for the next bull run

There are many in the industry who have taught traders a far too simplistic approach to entering and exiting positions. I am not sure how or exactly why this style of market play has become so pervasive, but it has. When I am asked about a particular trade or maybe about the direction of a market and it is usually followed up with a need for specific “price targets”. The problem with most traders mentality and their approach to the market is the fact they rely on just one entry and maybe two or three exit points/price targets. This is restrictive and binds the traders optionality, limiting their odds of success.
A new trader tends to plunge all of his or her capital allocated for a particular trade into the market all at once — at one particular price, at one specific moment in time. If you truly think about this concept, it is quite naive.. Trading is hard enough as it is to try and get both direction and time right. Why is it that some traders think they can pinpoint the exact moment in time and an exact price point to commit ALL of their hard earned capital? This limits your odds of success right from the beginning. It is not just the one entry method that restricts your probability of success, it’s this concept of two or three “price targets”.
I trade based on an oversold and overbought method using the cycles to my advantage. Employing a strategy where I do not buy in one lump some at one price but scale in over several entries while adding and reducing my size of positions further compounds my results. I exit positions based on the cycles and time, when a market becomes overbought and oversold, not just based on specific price targets.