Did it ever occur to you that those of us who are kind of good at spotting when a correction isn't over yet (you, TERA, mmitech, maybe me) are also the guys who have a harder time figuring out exactly when the tide has turned and the correction *is* over finally (or at least: for the mid term)?
You know, if there only was a name for that kind of mindset that makes it easier to see the built up risk in a market at a given moment vs. those who have an easier time (too easy, often enough) only seeing the potential benefits... something like cows vs. ursidae... yeah, that sounds catchy!
Excuse me.
But I said loud and clear that I believed the bottom was in many times over and the trend had reversed for now. I missed the absolute bottom by less than $9 with a 60BTC buy-in (no staggered tranches....u wouldnt believe the fkn idiotic trading decisions I make...if I just followed what I write on here I would do a whole lot better).
I also stated (in this thread) that a break out above $580 would be a trend reversal point for me, and this point I would be buying in (I done this). Admittedly, I favoured a retest of the lows and common sense seemed to suggest that this was on the cards. For a break out to occur, an X-Factor was required, and an X-Factor came, my short margin was called. (-$800, ouch!)
I am a shitty trader....especially when things happen that I wasn't expecting, like yesterday....any discipline which I lack at the best of times anyhow, and common sense go right out the window. From that insane bull run yesterday, I am limping away with a quarter of the profits that I could have easily have bagged if I weren't such a fraggle.
I do however rate myself with sensing out the general trend. General trend from here is up, but not without a good retracement from the current levels..unless of course Mr X-Factor comes along, again.
You can't say that I never called trend reversal, cos I did many times, including in this thread. U can accuse me of being a shite trader though, cos I am, and I admit it.
I didn't say any of what you defend against. Strawman much? I just brainfarted that the ideal trader would have the (justified) pessimism during times of correction like you did, when you went through your 'short ALL the coins' phase, and the (justified) optimism of sgbett during or near the reversal. I then decided to *share* that brilliant idea with the rest of the world, and I enthusiastically invite you to THANK me for it.