Faz's Crypto Thread

we can legit rip through to 35k easily from here

It can short squeeze pretty hard

Stopped out 29888 for 17% profits

Fun

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Today has been choppy day hard to trade while working.



That's why I don't play short

It's fun but I like the aspect of learning over short term gains

In which case I feel better off just doing or reading things and avoiding directly interacting with the market because it saves me time, brain ram, etc

I really don’t understand this short term predict the market trading style. Is it some type of probabilistic system where you try to simply be right more times than you are wrong but accept that say 49% of the time you are going to just lose money while 51% of the time you’re going to gain money and the 2% difference is all that matters? Or do people literally trade and when they take a wrong trade treat it as they did something wrong and could theoretically make money every trade if they only knew enough about market indicators

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I’ve done short term trades before with options and my method was to look at the news and think “does the news make me think the number will go up or down tomorrow” and I would just buy what I felt based off pure speculation

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There's is specific ways markets move.


It took me probably a year of watching charts and learning to understand what to look for and where the price is likely to move based on the structure of price movement

You have to understand that most of the markets is traded by bots and alogarythms and price moves to where liquidity lies. Short side long side or market gaps

Yeah I think that's how people do it. We look at good traders and assume they always have been when the good ones are experienced and that comes with knowing all the mistakes to make because they've made them

This stuff truly is a risk because the market isn't perfect to predict. It's all hedging your bets. At the end of the day it moves irrationally and movements are defined by big players so you will be punished for making right calls sometimes

I don't like that personally and try to abstain for that reason but if you don't recognize that then you're deluded. And that does make it a gamble but it's not really pure gambling either. You can't look at a table and get a rational feel for what the next rolls might look like in what is Traditionally considered gambling.

Price generally during a trend return to certain points and then continue with a trend

like this is super basic but very applicable to majority of the moves if you spend time watching charts

there is a lot of great material, I just enjoy it as hobby to learn about it.
It takes years to fully grasp because you need to live through market cycles to have a better understanding