So this is a typical “liquidity grab” scenario as what traders like to call it. Basically means that many are shorting from this area with tight stop loss hence they get stopped out easily before the trade eventually moves into their predicted direction.
Painful but it is what it is. This is why it will always be easier to trade with spot compared to leverage. Precision is key when it comes to leverage. Esp on high leverage. Whereas, on spot things are more forgiving as price can retrace all it wants but if at the end of the day, the daily chart closes to your liking, you can always keep holding onto the trade.
The downside for this is limited gains compared to leverage. But don’t be fooled by influencers posting +200% for their trades, next thing you know they might just be putting in a dollar per trade to farm engagement lolol.
For many, (including myself) avoiding leverage and focusing on buying at major support levels and selling after each bounce would make sense. Pentoshi style to say the least.
Greed will eventually creep on you if not kept in check. Being objective is key. Have a plan and execute it. If ETH drops till $750, I’ll defo be buying some. Prolly selling on the bounce if it is decent and buy some lower again.
Another good series on Netflix, honestly highly recommended. Retail investors vs institutional investors. Imo, there wasn’t any clear winner that came out of this. Many hedge funds got screwed shorting it and lost prolly around 20billion in total.
Retail investors on the other hand, made millions with their small starting capital but fail to capitalize on their profits and ended up giving it all back. One infamous influencer (Roaring kitty) as yall probably know. Made 30-40m from a starting capital of 50k. ROI: 600x LOL. Mad shit.
This documentary has clearly reflected the bitterness of many normies with the financial system. Prolly one good take away is to NEVER underestimate the power of attention. This technically falls under the category of narrative trading.
When people think that a stock price can’t go up any further and starts shorting too early, thats when they get screwed. The main difference between retail and institutional investors is the knowledge disparity and insider information. But knowledge disparity also an edge for retail investors, because its how degen apes are born.
Truth to be told, you need degen apes that literally buys without second guessing. If you accumulate a huge amount of degen apes, that’s what you get. A game stop run. Unlike institutional investors where they have to go through numerous approval and fundamental analysis before investing a large amount, for retail investors, investing is just a click away.
Mental really LOL
I think this story further validates my thesis on taking a punt on small cap meme coins for fun. The more you understand how things work, the more you realize that fundamentals are BS. Hype and narrative is the only thing that moves prices imo. Which is why analysing price action and narrative is key.
It is defo tougher in this current market sentiments because narratives only last for 2-3 days? Remember FOAN? How that lasted for 1-2 months. You need to be extremely quick to react for you make a profit now. Additionally, the profits are a measly 5-7%, pathetic compared to the bull market imo. Which is why personally I feel that it is a waste of time to chase narrative currently. Might as well just chill, do something else, come back when the charts are cleaner and start buying aggressively.
I have a meme coin in mind, but I would keep this play to myself. Dont want anyone to get rekted lolol.
Show me a nice accumulation zone with compression of EMAs and I will be going in. Either moon or rug. Small punt, let’s see if I get the chart that I want.
Really hope that AURY finds a good accumulation zone eventually. I will be there to accumulate when the time comes.
If the price action does not show any signs of bottoming then I would not be investing, simple as that. Additionally, 26 may is when the locked staking pool which be “unlocked”, so I do expect selling pressure leading to end of May.
I am cautious for now. Show me the bottom and I will be scooping it up. If not, happy to wait. I don’t mind accumulating and waiting for 5 years tbh as long as I see an accumulation zone, I’ll be going in.
The chart will guide the next course of action, be objective as possible as you when it comes to Crypto. Don’t give up your money until you find a compelling reason to.
CRV has been accumulating for 18 months now, when this explodes, it will be massive. Again, I dont mind waiting for a few years.
PYR, CRV and GENO are the only ones that look decent and if I were to choose. I would prolly choose to DCA into any of these 3. Also, I would be paying close attention to WILD/APE as the charts don’t lie. Don’t fade WILD, I have said it before, with such great developers and funding behind it, I dont see how it would not be 1-2b Mcap eventually.
Same sentiments, $1 remains the current objective. Been talking about this for awhile now. Still being patient and I agree with the underside rejection. But XO’s even more ambitious, keeping long term target at 60 cents. Not sure if it’ll get down that low, will re-assess again at $1 but I will definitely be adding when it reaches $1 and again at 60 cents if it gets there. I’ll be adding big but not all in, always keep some spare at the side. This is why concentration helps because I’ll always have some to spare.
The farming opportunities in FTM eco-system that allows you to further lower your average price is beautiful. Make good use of it anons!
Even tho, sometimes finances can be really tight esp as a student. I always tell myself that it will be worth it in the end. This current short term discomfort will set me and my family up for long term comfort.
Remember when BTC was 29k on July 2021 and people were calling for 20k? Remember when your favourite CT accounts keeps calling for lower prices when prices were already considered attractive? That didn’t turn out so well didn’t it?
Truth is no one can predict the market. However, one can only make an educated guess until the point of invalidation and then quickly flip bias.
This is exactly why I choose to stay risk on and will continue to DCA in regardless. Nobody will ever know when things will start to kick off again.
Back in August 2021, when BTC started to bounce alil from 29k to 40k, everyone was saying that it is a dead cat bounce but guess what? It bounced all the way to new ATHs lolol.
Likewise at 60k when everyone was saying that it’s going to 100k, it slowly bled all the way to 30k again. Time and time again, it shows that nobody can time the market.
So the best way for me personally, would be to continue to DCA in at support levels and be more aggressive at major support levels.
Not sure if we would go lower from here, but if it moons from here, I’m exposed enough. If it goes lower, I’ll be loading up more.
Let’s see how my portfolio performs at the end of this year. Close to -50% currently but it’s all part of learning.
Covid crash taught me to be gusty when everyone is fearful. I ignored my fear during that time and aggressively bought more and more. Currently 20% positive for my tradfi portfolio.
Gonna apply the same principles here, only time will tell if I’ll be successful or not. Hang in there anons!
I remember asking my seniors these questions when I was in year 1, “how does it feel like to be in Y3”, “Man, how does it feel like to finish your last practical exams”, “how did yall do it?”
Fast forward to my turn, I finally finished my final practical exam and honestly it feels surreal. I remember practicing so hard just so that I could get a good grade. That was my aim from Y1 and obviously I didn’t managed to obtain my desired grades many times and I always beat myself for it.
The desire to obtain a good grade slowly dwindled and it became more of a “survival” game than a “trying to win” game. Frankly speaking, as long as I did my best and I don’t fail, I’m honestly ok with that.
Thinking back, I’ve sacrificed a lot to be in my current position.. mental health, nights with friends, games, time with family and so much more.
Was it worth it? Yes of course. Was it tough? Yes of course. As cliche as it sounds, I think that it’s an understatement to say that it feels rewarding to be in a position where you can change the lives of others.
The next challenge after the final practical exams… would be the long awaited clinical placements…
Despite hearing all the fear inducing stories about hospital placements. I would say that I am willing to go in with a clear mind without any of these weighing me down and learn as much as I can!