Re: The Bullish Media Center (The 1 stop Bullish BTC news source)
We have winners and we have losers. Usually, more losers than winners. Everyone cannot win all the time unfortunately.
Actually, yes... It becomes so easy to get emotional and to do the wrong thing.. so in that regard a lot of people can get tricked into buying high and selling low... and so I agree, probably more people lose than win because it remains tricky, even when it seems simple.
I get tempted into such myself when the market is going up, it is very tempting for me to buy and make a little on the upsurge when I should be selling and sometimes it is very difficult to sell on the way up because I want to make more and more and more and to time the highest point when I should probably continuously have been selling as it goes up because the price trend can reverse at any time and for no reason.. and the same happens to be true when the price is going down.. sometimes I want to sell on the way down and I have a tendency to get greedy on the downward trend when I should be buying and in the end, I don't want to get caught selling at the bottom of such an awe inspiring dip when I should have been buying at that time in the dip, and I sometimes have to coach some people (in the real world who I attempt to help with this) over and over and over about not getting tempted to do the wrong thing at the wrong time.. and it is very difficult to help people to fight off the temptations to do the wrong things at the wrong times.. so if you build systems, you can stick to your plan and do only what you are supposed to do buy on the way down and sell on the way up..
I've found what helped me get out of reacting on emotions is to stop looking at any chart lower than the 30m. I remember I used to look at the 15m, 5m and 3m all the time. I would get caught up "in the moment" (15m, 5m and 3m charts) instead of having a plan based off information gathered to make a logical decision. I've had to force myself to exercise patience with trading to allow TIME for things to play out the way I previously determined they may play out based on the information I've gathered. Sometimes, this may take days and in some cases weeks to play out.
I remember when LTC was heading on a downward spiral. I told everyone they should wait to get in around .0065 in about 6 to 8 weeks. I have many witnesses on BTC-e about this. Paul (a moderator on BTC-e) is a witness to this. I provided charts for those who were interested. Sure enough, about 8 weeks later it hit an ATL of .0065 and I bought a slew of it to prepare for the LTC pump and dump due to the LTC block halving I knew was coming about 3.5 months later.
The swings are not broad enough to do any swing trading in my opinion. It's not worth my time to be near the computer to swing trade at present. Back in late 2013 and first quarter of 2014 it was nothing for you to have $50 swings almost every day. Now THAT is worth staying near the computer to get involved with.
Most of my trades lately have occurred over a 2 to 4 day period where I would enter and exit. I know some who may make only 2 trades a month (one entry and one exit) but they were big trades. I suppose it depends on the person and the amount of time they have to invest in front of computer screen to trade.
Our approaches are a bit different from one another.
I don't attempt to predict short term price movements in either direction,but I assume in the long run BTC prices are going up... so accumulating is going to pay off.
Therefore, I only sell within profits.. so for example if I hold 100btc, then I can only sell up to $1,000 for every $10 the price goes up, and so I continue to stagger on the way up and on the way down and the price intervals vary... but continue... I am somewhat agnostic regarding whether prices go up or down, but of course, since I have been accumulating BTC, I prefer that the prices go up.