Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon. How do you avoid getting 'shaken out' in the short term?
Zoom out. Bitcoin has been going up and up, with a few major crashes.
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I'm finding my calls are right, way more than 50% of the time, but I'm not as profitable a trader as I should be, because it seems more often than not, there's either a dump out, the chart starts to look like it's turning bearish and I begin to lose confidence in my calls. Then I might set a stop loss and there's a shake-out, it eats through my order, then the trend turns around and basically does exactly what I had originally called. Or if it starts dumping I might panic sell.
The secret is HODLing, never selling, and buy more as if it crashes to lower your average entry price of your position.
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I'm typically more profitable if I do not even look at the chart, like at all, after making my buy. Not sure that's good either.
What do you recommend in this case?
What works for you?
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I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me?
Any feedback welcome.
I believe $30,000 will be the new $10,000. It will go up and down from there, before another big surge to $50,000.
