The importance of PATIENCE
Trading is supposed to be exciting, and it can be.
To be successful trading long-term, you need to utterly crush that impulse for daily excitement. Replace it by the lovely feel of banking larger profits on a monthly basis.
Look at the BTC chart above. It took 78 days for the weekly to break out of its accumulation pattern to start the 4-5 move. Here we are sitting in what I believe to be a monthly accumulation, and everyone gets excited when it moves a couple of thousand dollars either way. Get real. Even if we take the area around 30k as the start of the accumulation, we still have no reason to expect a surge any time soon.
Be patient. Wait for confirmation if you have bullets left in the gun. Don't expect every single move to be "THE ONE". Nine times out of 10 it won't be. Be patient, when the break comes, look for a retest and confirmation of the change of character.
Once confident, you can play the game in decent size with a good feeling.
We are still bullish at these levels. If Crypto-Twitter is calling 12k, then do you really expect that to happen?
To be successful trading long-term, you need to utterly crush that impulse for daily excitement. Replace it by the lovely feel of banking larger profits on a monthly basis.
Look at the BTC chart above. It took 78 days for the weekly to break out of its accumulation pattern to start the 4-5 move. Here we are sitting in what I believe to be a monthly accumulation, and everyone gets excited when it moves a couple of thousand dollars either way. Get real. Even if we take the area around 30k as the start of the accumulation, we still have no reason to expect a surge any time soon.
Be patient. Wait for confirmation if you have bullets left in the gun. Don't expect every single move to be "THE ONE". Nine times out of 10 it won't be. Be patient, when the break comes, look for a retest and confirmation of the change of character.
Once confident, you can play the game in decent size with a good feeling.
We are still bullish at these levels. If Crypto-Twitter is calling 12k, then do you really expect that to happen?
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THE CITY TRADERS: thecitytraders.com/?aff=9
Discord: discord.gg/Ma7SnExcWA
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