I have a better suggestion. Do not trade 1 minute chart, trade weekly chart instead.
Topic: Don't fight a bull trap (worth reading) (Read 1270 times)
Disclaimer: I am currently 25% BTC, 75% $
I don't brow beat anyone for not holding bitcoin, but why are you holding so much usd? The usd market is looking grim atm. You don't have to be a goldbug to know that you should diversify out of the usd.
I've made many mistakes in the past. The biggest of which was turning all profit into $. Wont make that mistake again.
ha ha, and another mistake is turning 75% into $Maybe, but I would wait another 36 hours before being sure.
Monday morning is the time to re-evaluate the strategy for the coming week.
I've made many mistakes in the past. The biggest of which was turning all profit into $. Wont make that mistake again.
ha ha, and another mistake is turning 75% into $
I've made many mistakes in the past. The biggest of which was turning all profit into $. Wont make that mistake again.
I thought you sold 99% of your BTCs and were through with trading?
Then the bear trap came and I made a tidy profit 30 mins later.
It's an addiction. I'm working on it, but yeah... it's hard when there are so many suckers out there.
So you made huge mistakes trading yet you're still giving advice?
Huh? He sold before the drop and he made a profit buying back in, how is that a mistake?
I thought you sold 99% of your BTCs and were through with trading?
Then the bear trap came and I made a tidy profit 30 mins later.
It's an addiction. I'm working on it, but yeah... it's hard when there are so many suckers out there.
So you made huge mistakes trading yet you're still giving advice?
I thought you sold 99% of your BTCs and were through with trading?
Then the bear trap came and I made a tidy profit 30 mins later.
It's an addiction. I'm working on it, but yeah... it's hard when there are so many suckers out there.
So you made huge mistakes trading yet you're still giving advice?
Disclaimer: I am currently 25% BTC, 75% $
A bull trap occurs when you get a bullish signal on a stock only to watch that stock fall further and further down. When a situation like this happens it is important to remember not to fight it. Don’t put more money into a losing position trying to force it to go back up, (unless you have several billions of dollars of play money of course.)
Every investor and trader will get caught on the wrong side of a trade from time to time no matter how good of a trader they are. You can lessen how often it will happen by looking at things like trends, and fundamentals of a company. But nothing can eliminate bad trades altogether.
So, what do you do when you’re caught in the middle of a trap? The most important thing to do is to cut your losses short. The smaller your losses are when you are wrong the less they will affect your account.
The way to succeed trading the stock market is not to never make mistakes and always pick good stocks. We will all make mistakes from time to time we are not perfect and the signals that we trade off of are not perfect either.
The secret of making money in the long term as a trader is to make sure your losses are small and your winners are huge. If you get into a stock that heads down you can always cut your losses short and move onto the next trade. If you keep your losses short you do not need to win big on the next trade in order to come back from it.
If you do not get out of a bad trade early or even add to the bad trade it can drastically increase your loss for the stock. This means your next winner will have to be huge just to make up for the previous loss, and if you want to be profitable overall your winners have to be that much bigger.
Something my dad always taught me is when you are digging yourself in a whole; the first thing to do is to stop digging. It is the same when trading stocks. If you are losing money on a bull trap the first thing you should do is to stop putting money into that stock.
That is why it is considered a buy signal when a stock is at support. If a stock breaks support it is likely that it will continue to go lower and it is time to get out of that position. In other words by buying at support or close to it you can easily exit with a small loss if the stock breaks lower, and let it run if it continues to go up and make higher highs.
It is impossible to predict exactly what will happen next, regardless of what method you use. So reacting and preparing for all possible situations is essential to making a decent return.
A bull trap occurs when you get a bullish signal on a stock only to watch that stock fall further and further down. When a situation like this happens it is important to remember not to fight it. Don’t put more money into a losing position trying to force it to go back up, (unless you have several billions of dollars of play money of course.)
Every investor and trader will get caught on the wrong side of a trade from time to time no matter how good of a trader they are. You can lessen how often it will happen by looking at things like trends, and fundamentals of a company. But nothing can eliminate bad trades altogether.
So, what do you do when you’re caught in the middle of a trap? The most important thing to do is to cut your losses short. The smaller your losses are when you are wrong the less they will affect your account.
The way to succeed trading the stock market is not to never make mistakes and always pick good stocks. We will all make mistakes from time to time we are not perfect and the signals that we trade off of are not perfect either.
The secret of making money in the long term as a trader is to make sure your losses are small and your winners are huge. If you get into a stock that heads down you can always cut your losses short and move onto the next trade. If you keep your losses short you do not need to win big on the next trade in order to come back from it.
If you do not get out of a bad trade early or even add to the bad trade it can drastically increase your loss for the stock. This means your next winner will have to be huge just to make up for the previous loss, and if you want to be profitable overall your winners have to be that much bigger.
Something my dad always taught me is when you are digging yourself in a whole; the first thing to do is to stop digging. It is the same when trading stocks. If you are losing money on a bull trap the first thing you should do is to stop putting money into that stock.
That is why it is considered a buy signal when a stock is at support. If a stock breaks support it is likely that it will continue to go lower and it is time to get out of that position. In other words by buying at support or close to it you can easily exit with a small loss if the stock breaks lower, and let it run if it continues to go up and make higher highs.
It is impossible to predict exactly what will happen next, regardless of what method you use. So reacting and preparing for all possible situations is essential to making a decent return.
I thought you sold 99% of your BTCs and were through with trading?
Then the bear trap came and I made a tidy profit 30 mins later.
It's an addiction. I'm working on it, but yeah... it's hard when there are so many suckers out there.
Disclaimer: I am currently 25% BTC, 75% $
A bull trap occurs when you get a bullish signal on a stock only to watch that stock fall further and further down. When a situation like this happens it is important to remember not to fight it. Don’t put more money into a losing position trying to force it to go back up, (unless you have several billions of dollars of play money of course.)
Every investor and trader will get caught on the wrong side of a trade from time to time no matter how good of a trader they are. You can lessen how often it will happen by looking at things like trends, and fundamentals of a company. But nothing can eliminate bad trades altogether.
So, what do you do when you’re caught in the middle of a trap? The most important thing to do is to cut your losses short. The smaller your losses are when you are wrong the less they will affect your account.
The way to succeed trading the stock market is not to never make mistakes and always pick good stocks. We will all make mistakes from time to time we are not perfect and the signals that we trade off of are not perfect either.
The secret of making money in the long term as a trader is to make sure your losses are small and your winners are huge. If you get into a stock that heads down you can always cut your losses short and move onto the next trade. If you keep your losses short you do not need to win big on the next trade in order to come back from it.
If you do not get out of a bad trade early or even add to the bad trade it can drastically increase your loss for the stock. This means your next winner will have to be huge just to make up for the previous loss, and if you want to be profitable overall your winners have to be that much bigger.
Something my dad always taught me is when you are digging yourself in a whole; the first thing to do is to stop digging. It is the same when trading stocks. If you are losing money on a bull trap the first thing you should do is to stop putting money into that stock.
That is why it is considered a buy signal when a stock is at support. If a stock breaks support it is likely that it will continue to go lower and it is time to get out of that position. In other words by buying at support or close to it you can easily exit with a small loss if the stock breaks lower, and let it run if it continues to go up and make higher highs.
It is impossible to predict exactly what will happen next, regardless of what method you use. So reacting and preparing for all possible situations is essential to making a decent return.
A bull trap occurs when you get a bullish signal on a stock only to watch that stock fall further and further down. When a situation like this happens it is important to remember not to fight it. Don’t put more money into a losing position trying to force it to go back up, (unless you have several billions of dollars of play money of course.)
Every investor and trader will get caught on the wrong side of a trade from time to time no matter how good of a trader they are. You can lessen how often it will happen by looking at things like trends, and fundamentals of a company. But nothing can eliminate bad trades altogether.
So, what do you do when you’re caught in the middle of a trap? The most important thing to do is to cut your losses short. The smaller your losses are when you are wrong the less they will affect your account.
The way to succeed trading the stock market is not to never make mistakes and always pick good stocks. We will all make mistakes from time to time we are not perfect and the signals that we trade off of are not perfect either.
The secret of making money in the long term as a trader is to make sure your losses are small and your winners are huge. If you get into a stock that heads down you can always cut your losses short and move onto the next trade. If you keep your losses short you do not need to win big on the next trade in order to come back from it.
If you do not get out of a bad trade early or even add to the bad trade it can drastically increase your loss for the stock. This means your next winner will have to be huge just to make up for the previous loss, and if you want to be profitable overall your winners have to be that much bigger.
Something my dad always taught me is when you are digging yourself in a whole; the first thing to do is to stop digging. It is the same when trading stocks. If you are losing money on a bull trap the first thing you should do is to stop putting money into that stock.
That is why it is considered a buy signal when a stock is at support. If a stock breaks support it is likely that it will continue to go lower and it is time to get out of that position. In other words by buying at support or close to it you can easily exit with a small loss if the stock breaks lower, and let it run if it continues to go up and make higher highs.
It is impossible to predict exactly what will happen next, regardless of what method you use. So reacting and preparing for all possible situations is essential to making a decent return.
I thought you sold 99% of your BTCs and were through with trading?
Disclaimer: I am currently 25% BTC, 75% $
A bull trap occurs when you get a bullish signal on a stock only to watch that stock fall further and further down. When a situation like this happens it is important to remember not to fight it. Don’t put more money into a losing position trying to force it to go back up, (unless you have several billions of dollars of play money of course.)
Every investor and trader will get caught on the wrong side of a trade from time to time no matter how good of a trader they are. You can lessen how often it will happen by looking at things like trends, and fundamentals of a company. But nothing can eliminate bad trades altogether.
So, what do you do when you’re caught in the middle of a trap? The most important thing to do is to cut your losses short. The smaller your losses are when you are wrong the less they will affect your account.
The way to succeed trading the stock market is not to never make mistakes and always pick good stocks. We will all make mistakes from time to time we are not perfect and the signals that we trade off of are not perfect either.
The secret of making money in the long term as a trader is to make sure your losses are small and your winners are huge. If you get into a stock that heads down you can always cut your losses short and move onto the next trade. If you keep your losses short you do not need to win big on the next trade in order to come back from it.
If you do not get out of a bad trade early or even add to the bad trade it can drastically increase your loss for the stock. This means your next winner will have to be huge just to make up for the previous loss, and if you want to be profitable overall your winners have to be that much bigger.
Something my dad always taught me is when you are digging yourself in a whole; the first thing to do is to stop digging. It is the same when trading stocks. If you are losing money on a bull trap the first thing you should do is to stop putting money into that stock.
That is why it is considered a buy signal when a stock is at support. If a stock breaks support it is likely that it will continue to go lower and it is time to get out of that position. In other words by buying at support or close to it you can easily exit with a small loss if the stock breaks lower, and let it run if it continues to go up and make higher highs.
It is impossible to predict exactly what will happen next, regardless of what method you use. So reacting and preparing for all possible situations is essential to making a decent return.
A bull trap occurs when you get a bullish signal on a stock only to watch that stock fall further and further down. When a situation like this happens it is important to remember not to fight it. Don’t put more money into a losing position trying to force it to go back up, (unless you have several billions of dollars of play money of course.)
Every investor and trader will get caught on the wrong side of a trade from time to time no matter how good of a trader they are. You can lessen how often it will happen by looking at things like trends, and fundamentals of a company. But nothing can eliminate bad trades altogether.
So, what do you do when you’re caught in the middle of a trap? The most important thing to do is to cut your losses short. The smaller your losses are when you are wrong the less they will affect your account.
The way to succeed trading the stock market is not to never make mistakes and always pick good stocks. We will all make mistakes from time to time we are not perfect and the signals that we trade off of are not perfect either.
The secret of making money in the long term as a trader is to make sure your losses are small and your winners are huge. If you get into a stock that heads down you can always cut your losses short and move onto the next trade. If you keep your losses short you do not need to win big on the next trade in order to come back from it.
If you do not get out of a bad trade early or even add to the bad trade it can drastically increase your loss for the stock. This means your next winner will have to be huge just to make up for the previous loss, and if you want to be profitable overall your winners have to be that much bigger.
Something my dad always taught me is when you are digging yourself in a whole; the first thing to do is to stop digging. It is the same when trading stocks. If you are losing money on a bull trap the first thing you should do is to stop putting money into that stock.
That is why it is considered a buy signal when a stock is at support. If a stock breaks support it is likely that it will continue to go lower and it is time to get out of that position. In other words by buying at support or close to it you can easily exit with a small loss if the stock breaks lower, and let it run if it continues to go up and make higher highs.
It is impossible to predict exactly what will happen next, regardless of what method you use. So reacting and preparing for all possible situations is essential to making a decent return.
Jump to: