Good evening all…
Yes…everything is dropping. No doubt some may be feeling the pressure on their portfolios. Holders…they can either accept everything is cheaper, or switch their portfolios for safer options.
When in “Cash” (no capital is at risk) you tend to be some what relaxed. Whether you are shorting or going long, the trader, has no bias to sentiment. However he uses this to his advantage to determine the likelihood of a trade going in his desired direction.
As I type this….bitcoin is dropping. Ethereum is taking a hit. The previous pool of liquidity (29k zone) in bitcoin is looking like it wants to test the 30k zone, and get those orders filled.
How do we prepare ourselves going into chaos?
See, the mind will always try and seek the safest option…
Naturally, many will be feeling fearful right about now.
Fear is good when it’s present. It’s what you do with it that will determine the effect of it.
Do we become fearful and not trade or do we use that fear as a tool to understand the sentiment by the market maker and exploit it.
Why should we be optimistic when price is rising and not the same when it is dropping?
Well my friends, the true skill that a trader develops, only if he chooses is the idea of perspective….
You can either sit on the side lines and wait for things to calm down or you take the path that will lead you to challenges that will test your ability as a trader.
Trading is a continous feedback loop. Learn from everything that you do…
The Battle in our minds may be now or later.
But believe me when I say to you. A trader is forever at war with himself in this game. It is only when he calls a truce to himself that he then stands a better chance at survival in the hardest easiest way to make money….
Going into tomorrow….prepare yourselves. It’s like no other trading day. Up down and sideways.
We are traders…..F#%$ what price is…it’s what we allow it to make us think that separates the good traders from the great.
Tomorrow we hunt.
Till then my friends.
Mad love
T
