Well, with the markets at a dazzling height right now, I feel this is the best time to wait and watch (at least for now).
With #ETH almost the 200 day moving average of 2800, we can expect people to book profits. A good idea for those who are ready to enter will be to wait for a significant dip. Any purchase on dips will be profitable.
Eid-Al-Adha Mubarak to each and every one. Quite a bit of positivity in the market today. I hope there is peace, prosperity and happiness prevails with everyone.
On the lighter side, I hope the two greatest monkeys of the world keep their mouths shut so as to not disrupt the market situation. 🤪🤪😂😂😂
I happened to go through the news article just now which mentions that the "Greed Index" has recently gone up.
This article combined with the number of posts that I see here which claim to earn upto $30 per day without any initial investment or spending too much time in research brings to mind how susceptible most people can be to fraud and sure losses.
There are a few things to keep in mind as an investor:
1. Filter the noise: There's a lot of noise made by many people who "claim" to be experts in trading. They openly share their opinions. Learn to filter out the noise from the facts by verifying the information before you decide to make an investment or not.
2. Know your limits: We all budget our expenses, groceries, utilities, insurance, fuel, travel, education and the list is unending. Never use money that has been kept aside for something else to complete a trade, no matter how lucrative it might appear. One never knows when you could be on the wrong side of the trade and that money could be in jeopardy. Budget your trading account and be very sure to stay within the budget.
3. Be Patient: As the old adage goes, "Rome was not built in a day." Remember there's no short cut to becoming rich. This takes patience. Have a target buy price in mind and once you have bought your assets, have a target sell price in mind. sit down very patiently waiting for the target to be breached.
4. Maintain Discipline: If you have done your homework properly and you have kept the buy, sell and stoploss prices in mind, just go for it with discipline. Remember, you have done the research and you know what you want to achieve. If you try doing anything other than what you have researched, there's a possibility of doom ahead.
5. Follow the pattern: Like I have mentioned in an earlier post, all patterns point in the same direction, if you are familiar with the Bollinger Chart, trust it. If you are only able to read the RSI chart, it's not a problem either. Just trust your understanding of the pattern and don't let influencers cause you to deviate from what you know.
I was not very active on Crypto till recently. I usually used to be active in the stock market. I follow what we call Swing Trading where we go along with the flow. The usual wait time in the stock market is 2 to 3 weeks before we book a profit.
Can anyone please share your thoughts about the possible timelines I should keep in mind here?
#BinancePizza this is a great opportunity for one and all to complete simple tasks and earn a small amount of coins, tokens or points on a daily basis.
Ladies and gentlemen, there's a huge difference between a trader and an investor. Not that I support one and condemn the other. it is just how the mind works. Personally, I prefer to remain invested into an asset and only make a move to buy or sell if I get the exact price that's in my mind. while I am waiting, I lock the asset into earning flexible interest since this allows more liquidity.
I love the presentations that people make on YouTube. It is interesting to see how they can easily misguide you to believe that you can become a #millionaire overnight by following their tips whether it is pertaining to the stock market, currency market, commodities market or #crypto. These so called experts are everywhere creating a confusion among unsuspecting or inexperienced individuals.
My honest opinion is that there are no fool proof strategies to make a person rich overnight. Yes, here at Binance we have opportunities to earn by other means such as air drops and completing certain tasks, etc.
However, as a trader and invester we need to understand the market movement, study the trend according to the charts available and believe in the chart. It doesn't mean if I am looking at the moving average chart, I have an advantage over someone who is comfortable with the Bollinger Chart. All give the same output, we need to understand the trend and go with the flow.
We can only lose if we swim against the tide. In my next write-up I will explain how I follow the Moving Average chart. Others might follow strategies and I will definitely welcome them to share their views which can benefit others too.