Be pessimistic
How many times have you bought a coin that was showing all the signs of an uptrend, and the market reversed, causing you to lose money?
If your answer is several times, then you buy out of fear of missing the opportunity (FOMO), and this most often leads to more losses instead of profits.
Most of the times I lost to the market was when I bought on signs of an uptrend; my portfolio was almost wiped out because of this trading approach.
Now, even if a coin shows clear signs of an uptrend, like in the image of $BABY , I place my buy position below the previous minimum price, why?
Because if the market turns and the coin starts to depreciate again, the chances of it appreciating again after reaching the low are much higher, thus, the chances of you losing are lower and your profitability percentage is greater.
I prefer to miss the opportunity than to lose money. New opportunities arise all the time; you just have to be patient.
