Post
Topic
Board Speculation
Re: Major mistake all traders make
by
Canis Majoris
on 21/02/2018, 13:03:51 UTC
I don't really get what you're saying here. But I'm assuming that you're saying that people should ready themselves for anything and even if when SHTF they have a clear strategy of what they want to do instead of following their emotions?

If that's true, then yeah. It's definitely one of the skills you have to have trading and speculating on bitcoin.

Basically, you can't ready yourself just for anything which may potentially happen. It is simply impossible to prepare yourself for every shit that is likely going to hit the fan. But it is not required. And this is where I draw the distinction. Some people become kind of frozen when they get into an unchartered territory. Their instinctive impulse is to sit and wait till things get sorted on their own. I consider this a wrong attitude or approach. Whenever you find yourself in this type of predicament, you shouldn't wait, you should get out of it immediately until it becomes too late. Trading is just a particular activity where the devastating consequences of not making a decision at the right time are most visible and apparent.