BTC chart from the premium channel shared on Saturday predicting resistance at $11,800 (as seen) followed by a decline which would lead to my buy orders filling at $9,900 (FILLED) and $8,200. These buy orders correlate with ‘daily chart’ MAs (moving average). Buying dips at daily MAs was my plan throughout BTC’s run. Entering any new long or short positions was a pure gamble - I knew this, yet to many lacking in foresight I was wrong because I did not act immediately. Now, with a 50% BTC discount, my patience pays off.
Confusing gambling with trading is always a mistake. It seems everyone on Instagram and Twitter ran out of patience at once and became a team of speculators, populated with traders who shoot from long to short, coin to coin, like grasshoppers whizzing around in a field.
People now believe that the test of a trade technique is simply whether it worked. If they beat the market over any period, no matter how dangerous or dumb their tactics, people boast that they were “right”. But the intelligent trader has no interest in being temporarily right. To reach long-term financial goals, you must be sustainable and reliably right. To see temporarily high returns doesn’t prove anything. Imagine that two places are 130 miles apart. If I observe the 65-mph speed limit, I can drive that distance in two hours. But if I drive 130 mph, I can get there in one hour. If I do this and survive, am I right?
I saw so many influencers long on BTC boasting profits. In reality, they were only "right" for a moment. After a 50% correction they go quiet because I assure you, they were liquidated.
This week I will be posting an update on my trading account created January 1st with real money to prove the sort of returns that can be made. Today it stands at €22,000 profit.