(Originally sent to email list July 27, 2021)
First off, I want to disclose that i'm in the enviable position of being in crypto and Bitcoin since end of 2013 or so. Seeing Bitcoin trading above $1,000 is still pretty incredible, let along above $30k. Heck, less than a year ago it was barely back above $10k.
This perspective gives me a lot less worry than someone who's newer to crypto and maybe bought Bitcoin at $50k or ETH at $2400, so take my analysis as someone who's already done quite well whether it's trading at $30k or $60k.
For me, crypto is a long term strategy, proven time and time again that patience is the best teammate to play with.
Instead of hyperbolic headlines and meme's, my analysis is done the same way I analyze $NQ, Gold, $EURUSD and any other asset I trade.
We got long Bitcoin back in August of 2020 and more importantly we stepped out of the way when our stop losses were hit on May 21 of 2021, leaving all the chaos and carnage to...
Systems trading is by far the most boring way to trade
You know that you are either going to win or lose on the trade
You know how much you are going to earn or how much you are going to lose +/-
You know what time of day to review your setups
You know when you need to update your profit targets
You know when you are going to stop out of positions
You know how much money you will make that month
You know how much money you will make that year
You know when your system is broken and can turn it off
You know exactly how much money you need to use to achieve your financial goals
You know when you don’t have anything to do for the day
You know when you are going to be a bit extra busy (20 minutes instead of 10)
The only time it isn't boring is when you don't follow your systems rules, then there is no predictability and whatever the outcome you have no clue!
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