Good evening 😊
Most of us have bought alts recently - we managed to catch them at a good point - if not yet, look for entry on those which have not increased. Optimism has appeared on the market and most of them are growing beautifully - and with them our wallets in blockfolio. Probably some of us are already browsing the lambo catalog, others are choosing the color of the walls in the new house, which will set themselves, such as ETH will reach $ 4,000 - and very well - you have to have some dreams and a goal of earning.
- "Two stock market investors meet: *
- What would you do if you won 10 million in lottery? *
- Thread. I would continue to play on the stock exchange ... As long as I have enough money. "*
** But you can't buy it all unless you make a profit. ** Hence this entry. I write it so that in the heat of the fight not to make all these mistakes that have been hitting us for the last 2 years, seeing how the alts we bought in the wrong place fell by 98%. ** In the market entry level does not count, but rather the level of exit from it. **
Probably along with further increases there will be descriptions among * "esteemed analysts" * talking about increases of 1000% on everything that moves, etc. ... Do you remember what happened when BTC was after 17k or 20k? On most Internet groups, and even in traditional media, there were already analyzes saying 50k, 100k, etc. ... It was said then that the only direction the market could take is only further increases! And what? __BTC fell then over 80% __, and some of us stayed with him in the wallet and, what's worse, was selling at a loss during declines.
** I write and remind about it, because when taking a position you should adopt rigid rules for leaving it. ** There are different schools of approach to this topic. For example, you can make a wallet for long term - that is, we assume that we will buy a given instrument and hold it, e.g. 2-5 years or until it reaches BTC, e.g. 100k. You can make a mid term wallet - something that I have now done at home. I assume the scenario that I described here earlier - for me, the key deadline to make a decision to leave the position on the alts is the end of March or access to my TP. And the last option is a wallet for so-called Scalp - i.e. we are not waiting for TP, but we close after 3-5% candle up and jump to the next alt.
All of them, however, should be managed in a wise way - that is, you need to somehow lead positions. If I see that the alt I bought increased by 100% and has a correction, and my TP was at 125%, then I must be able to make decisions to close the position. Here, some basic AT indicators should help you, e.g. trend lines, ichimoku clouds, Williams alligator lines - whatever you will be leading positions on. According to these indicators, for example, after the price goes down into the cloud, average, etc., you will close your position - but on profit. Because if you hear from anyone today that * "it will not be cheaper" * or * "do not sell, because we are definitely going to ATH" , it means that someone has no clue what they are writing about. It is the market that will decide at the end who is right, but it's better to earn less than lose. It is worth remembering that * there is nothing more important than protecting your own capital **. And also about earning and investing money. Check the bank deposit offers - let me remind you that currently the best of them give 3% per annum, so if you do not enjoy the 10% earned in a month, it means that there is a good chance that you will only lose in the long run .
"A well-known broker who made a fortune on stock exchange transactions was once asked what the secret of his successes was. *
- It's very simple - the broker replied - I always buy shares of stock from pessimists and sell them to optimists. "*
Moonsoon and # 3k also *