Quote from: bassclef on August 18, 2015, 06:14:39 PM

Quote from: TPTB_need_war on August 18, 2015, 05:42:48 PM

Everyone should have been short since $315 which is what I said first. And I should have stuck to that. Predicting the short-term moves is going to get you stopped out and you'll miss the entire decline. Everyone who did not short at $315 has already lost the decline to $254.

Trading is easy in hindsight as markets can do anything at anytime. That's why it's more about managing risk/protecting profits than being able to predict great moves.

A short from $300 looks amazing now but it's extremely difficult to do in the moment. And if we slingshot up from here in a few days, a long today would look amazing in hindsight. But what if it doesn't? Maybe we skid to $240 and go up from there. How does one plan for each possible scenario? You can't really. Fear, uncertainty and doubt are a trader's worst enemy.

Also, careful about being the charismatic great predictor. You'll gain a huge following then lose credibility the one time you're wrong. Just ask rpietila leading his newb army into Monero and whatever other go-nowhere altcoin project he was working on.

What went wrong there?