RE: "No one man can make a market"
Thanks for a great article! I'm 100% new to trading (and about 95% new to crypto). Watched what felt like about 100 hours of your stuff yesterday and loved every second - this is the kind of opportunity I've been looking for.
One question that's somewhat related here since we have a pretty downward trending week driven by news/rumors/etc. - does your strategy change at all in a clear bear market environment?
It seems like with the daytrading approach it would be easier to deal with: catching shorter-term dips and spikes. With a more position trading approach (I'm not sure if I'm using those terms correctly, by the way) where you intend to move in and out over periods of hours or days, it seems like it would be MUCH harder to catch the bounces.
Keep up the good work, sir. You're a gem in the community!
I'm finding it a bit challenging to catch the bounces using position trading; this current drop of ours being a prime example. I set a bunch of buy order to trigger at this 'unrealistic price' but I think they were still a bit too conservative, as they all triggered pretty early into the drop. I'm now left holding the bag on 'suddenly expensive' coins as I watch the drop fall further. Granted, the chart is nearly back to where I bought in and as I'm in BTC, I'm not worried about having to hold on a bit longer than expected, but it does leave me without capital to play future bounces until I can make myself whole again.
I think once I settle, I'm going to lean a bit more on alerts, or at the very least, split up my advance buy orders a bit more so that I'm covered against any overnight, sudden sales. Setting all my buy orders in advance has left me out of the game for both of September's surprises; I think I've finally learned my lesson there.