Trader's tell you "Don't FOMO" for a reason!
Faith, a consistent effort and your own guarantee, that it's going to happen.
Fear is the mind doubting your faith, or realization of your ego allowing you to make the same mistake more than twice - which is a solution to save humanity from its end -- in all that matters.
So today, I covered my short, took a decent chunk of a loss averaging up. Exited all but a small portion of crypto to USDT while moving more to my short. If I don't see a pullback(after retesting 9k), I will keep on covering.
You call it a bull run, I call it parabolic growth with 0 test of support and it will be a giant slide -- WEEEEEEE --- if the littlest thing happens.
(Right at 9k as I was typing this, we saw it, it took very little to start it moving down.)
Let's say this. If we see 10-11k, before retesting 8k, crypto is gonna have a rough year. If we see 14k before an actual retest, you're homeless.
At that point, I won't even bother shorting, I'll cash out and wait for the bottom to buy for keepsake, as a reminder of what It could have been for retail, If you just listened.
We say don't FOMO for a reason.
Our Market is just a history built on patterns of human behavior.
We say everything repeats, because we never tried to do the opposite. Decentralization is a history we are writing now. Are you?
If you don't - then what are you doing? Next time you trade, try to call the moon for X1000 gains. If It doesn't work - call again.
Will the Market fix itself? - Yes.
Will It be at the cost of all #hodlers and retail investors if this continues? - Yes.
Will I still have more BTC then I do now? - Yes.
But I wouldn't be at #crypto at that point, because the purpose of decentralization would dissipate and be replaced by exactly what we wanted to escape from. If you came here for the dream, If you came here as innovator, If you wanted to be the leader of your own life - stop being a sheep.
To all of you, who is chasing #americandream. Remember, we are not here for the price, we are here for the value.
Make smarter decisions, and don't just fly in on every green candle. Greed will be your downfall if you continue doing this.
Resteem and Bidbots were used to help promotethis post, in hopes you gain value. Transparency is key, and until their is a solution to the abuse, I will atleast do my part and be transparent about it.
If you would like some actually informative posts of mine check
This One on Risk Management
This one on the March Correction
Or Check my Trading view on using Double Cloud for Confirmation on movements
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It’s almost comical, the same ones that fomo are ones that panic sell. You can somewhat say they are the the reason for the wild swings.
Sometimes I feel that this world is like being in the jungle and not just on vacation, much to learn.
Between the thin order books and panic buyers and sellers id absolutely agree!
Hilarious. Great job.
Even with labels and warnings and information some humans are still going to make the wrong decision. It is amazing how they fall for so many traps. Like the OTC stocks who change their name and description to crypto and blockchain. Dumb people bought the name change with no evidence that the employees even know what blockchain is. Now all those companies share price has collasped.
Just unbelievable.
Omg I remember seeing some random stock like 100x because it added Blockchain to their name. It's absolute insanity. It's the same people who stare at Binance all day and are like woonits going up dump all into the fomo coin first pullback "noooo market sell market sell" lol.
Great article and very informative, thanks for sharing. I've smashed the upvote button for you!
If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
That's super cool, great to know, thanks!
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Still the most valuble thing on Steemit.
As i continue to post, If i use Bots I will always disclose that they will be used on the post.
Also will always upvote @transparencybot to ensure it can let people know that results like this are not possible without using bots.
Thank you Joe for the support.
always!
Lot's of FOMO currently and I think the bears are top fishing. We are due for a pullback after this run. I'm watching for a pullback into a cup and handle, or further consolidation into a weekly equilibrium.
Yeah we are constantly trying to Pierce that daily cloud, and we are due for a pullback legit yesterday. This has been a great distribution phase and we need to markdown and reaccumulate. So we can build a nice support floor. Thank you for sharing TA we need more of that here!
Thanks for share, it is a usefull post.. I appreciate it..
no problem thanks for reading! Hopefully you get a chance to read some of the older posts!
Yea, i'll try to read some of your older posts..
Give him all your best Upvote and best comment and the sky will be how limit, always celebrate with the best, tomorrow is my birthday everyone, it @emmanueltare please show me love..
Brilliant post! Absolutely agree with your points.
As FT quoted Vitalik Buterin talking about everybody's attitude in the current Crypto climate: "Lambo[rghini], vrromm, buybuybuy now!”. I guess it says it all!
Best Wishes
@Shenobie
While the excitement to find the "next Bitcoin" will always be there and is what brings new money to the space, I truly believe that we need to self regulate better and offer as much help as we can to newcomers on TA and FA in hopes they do not continue down the same paths we did. The problem truly is that people came here for instant money, and several made out well, they spent it terribly thinking we would never come down, and now they are in a bad financial spot because of their poor money management. Sadly the only ones benefiting is old money, which also happens to be what we wanted to get away from and create a better future for ourselves.
I could not agree more!
Resteemed. Thank you, my friend.
Thank you!
yes fomo is reason 😂
#fomolife
I mean we have kids buying 100k SATs saying they are rich now.
Everyone has that one friend who was broke in 2011, and now sitting in a penthouse.
They all think they are gonna do the same and don't miss out. Turn that $100 bucks into a million.
They don't understand that institutions will rekt them and that moment when it feels like we are gonna go parabolic again, and everyone is losing their minds "moon" "lambo" "#hodlgang" and it's gonna dump. Like dump dump.
Like wyckoff distribution over time for markdown and fomogang will not understand and dump with it and we will eat it up :)