Thread 1/n
Post mortem on what happened yesterday on $BTC, $ETH and all the gang.
Take this as an opportunity to step up your game.
Let's start by saying that I lost a decent chunk (30%) of unrealized profits from this bull run in the alts account.
Several things happened:
Post mortem on what happened yesterday on $BTC, $ETH and all the gang.
Take this as an opportunity to step up your game.
Let's start by saying that I lost a decent chunk (30%) of unrealized profits from this bull run in the alts account.
Several things happened:
2/n
- Most people caught in this nuke said "nobody could have predicted it"...my man lol.
- I didn't "predict it", I surely didn't predict the magnitude of the move. What I predicted was that there was a strong possibility of further downside...
- Most people caught in this nuke said "nobody could have predicted it"...my man lol.
- I didn't "predict it", I surely didn't predict the magnitude of the move. What I predicted was that there was a strong possibility of further downside...
3/n
...and that the CT larpers that kept buying every single green 15 minutes candle until the day before were about to nuke their followers.
We were ALREADY in a clean technical downtrend, if you didn't notice.
...and that the CT larpers that kept buying every single green 15 minutes candle until the day before were about to nuke their followers.
We were ALREADY in a clean technical downtrend, if you didn't notice.
https://twitter.com/AlgoHammie/status/1394626940112359429?s=20
4/n
- Am I happy of losing money. NO. Could I have managed it better. NO. Differentiate between what you CAN and CAN't control. Your trading (and your life) will benefit exponentially.
- Am I happy of losing money. NO. Could I have managed it better. NO. Differentiate between what you CAN and CAN't control. Your trading (and your life) will benefit exponentially.
5/n
- I've seen a full barrage of bottom calls all the way down. A bottom is forming just now while I write, not complete yet, and it would be the first one at least in the last 7 days. The CT larper you're following can't even do basic TA (let alone trade).
- I've seen a full barrage of bottom calls all the way down. A bottom is forming just now while I write, not complete yet, and it would be the first one at least in the last 7 days. The CT larper you're following can't even do basic TA (let alone trade).
6/n
My algos "predicted it". Not really of course, they just reacted. But they made the whole ride down untouched. Why? They don't care about the SYper CyCles memes, all the fomo and the larping, the calls by your favourite cartoon character on CT. Something was there, in price.
My algos "predicted it". Not really of course, they just reacted. But they made the whole ride down untouched. Why? They don't care about the SYper CyCles memes, all the fomo and the larping, the calls by your favourite cartoon character on CT. Something was there, in price.
7/n
Several people saw it coming. The fact that your favorite CT larper didn't doesn't mean nobody did. This is like the Funnymental Analysis people telling you you can't time the market: they can't, so nobody can. Don't be this poor, try to step up your game.
Several people saw it coming. The fact that your favorite CT larper didn't doesn't mean nobody did. This is like the Funnymental Analysis people telling you you can't time the market: they can't, so nobody can. Don't be this poor, try to step up your game.
8/n
"Taking some profits on the way up", as good and reasonable as it sounds, it's a meme. You will just raise your risk (your max position will always be at entry), and lose reward. Just do the math. Don't fall for "what sounds good and reasonable".
"Taking some profits on the way up", as good and reasonable as it sounds, it's a meme. You will just raise your risk (your max position will always be at entry), and lose reward. Just do the math. Don't fall for "what sounds good and reasonable".
9/n
- Most big accounts on CT are not traders. They're glorified gamblers at best. They couldn't trade ass for a candy bar. If your whole strategy is to follow their calls, you ngmi.
- If you follow narratives (SUpeRcYles, FlipPenings and the like) I will take your money.
- Most big accounts on CT are not traders. They're glorified gamblers at best. They couldn't trade ass for a candy bar. If your whole strategy is to follow their calls, you ngmi.
- If you follow narratives (SUpeRcYles, FlipPenings and the like) I will take your money.
10/n
This can be a bottom or a complacency bounce. Do your math or people smarter + more prepared + more skilled than you will take your money.
This can be a bottom or a complacency bounce. Do your math or people smarter + more prepared + more skilled than you will take your money.
https://twitter.com/Trader_Dante/status/1395291333791830016?s=20
11/n
- CT is a circus. Very entertaining, completely fake. Some big accounts were still larping in the front, while answering to destroyed people in DMs. Other big accounts where completely transparent, and teaching you about focusing on risk. Clean your feed.
- CT is a circus. Very entertaining, completely fake. Some big accounts were still larping in the front, while answering to destroyed people in DMs. Other big accounts where completely transparent, and teaching you about focusing on risk. Clean your feed.
12/n
- Have a plan or give your money to people that do. You can't take random decisions and expect to have an edge on a statistical sequence.
- Have a plan or give your money to people that do. You can't take random decisions and expect to have an edge on a statistical sequence.
13/n
- FOCUS ON RISK. "The boooootom". Yes, the botooom. A bottom and a complacency bounce are identical. What happens if we go straight to 100k from here and you weren't buying the booootom? You miss 15-20% of a 300% move. What happens if you buy the boooOooOtom and we nuke?
- FOCUS ON RISK. "The boooootom". Yes, the botooom. A bottom and a complacency bounce are identical. What happens if we go straight to 100k from here and you weren't buying the booootom? You miss 15-20% of a 300% move. What happens if you buy the boooOooOtom and we nuke?
/end
Step. up. your. game.
And have fun doing it.
Have a great day ;)
Step. up. your. game.
And have fun doing it.
Have a great day ;)
https://twitter.com/AlgoHammie/status/1395086532004941829?s=20
addendum: stocks $SPY topped and were also moving lower.
Know who's your daddy. It's not the SuPercYcle.
Keep and eye on stock indices, especially tech $QQQ
You can consider crypto $BTC an ultra-risk on vapourware sector of tech.
If daddy starts de-risking, we fked
Know who's your daddy. It's not the SuPercYcle.
Keep and eye on stock indices, especially tech $QQQ
You can consider crypto $BTC an ultra-risk on vapourware sector of tech.
If daddy starts de-risking, we fked
addendum: survive
Beautiful thread by Dovey:
Beautiful thread by Dovey:
https://twitter.com/DoveyWan/status/1395304094009466880?s=20
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