Winning in these markets is tough if you don't have a STRATEGY that both prepares you for:
• The markets are going back up.
• The markets are going further down.
Many individuals are ill-prepared for the markets not moving in their desired direction. They are either betting on the bottom to be in or not to be in with a prepared course of action.
But What if they are wrong? What if the market doesn't do what they expect it to do? Do they still come out on top?
Since the start my BIGGEST acceptance has been that my analysis will be wrong many times. I won't be able to time the markets but I will be able to prepare myself for the markets. And this will make ALL the difference.
I've had a bearish bias almost this entire year. If you have been following me longer than today you probably know this by now.
Wondering how to pick that one right coin -
https://www.ourcryptotalk.com/post/how-to-pick-that-one-right-coin
My bias remains largely unchanged but I know we won't keep dropping forever. Confirmations in the market always happen AFTER something has taken place. People won't know the bottom will be in once it has already been formed and price has been breaking higher. This includes me and anyone else. Any forecast is mere speculation and opinion. Even if I'm expecting lower prices I do want to be holding my favorite assets in the event the market does break higher.
In the event the market drops down further I want to be holding enough stables to take advantage of the opportunity. You basically want to be:
Holding enough crypto assets even if you are bearish and holding enough stables even if you are bullish.
Not even mentioning the "mental peace" this alone provides does wonders. Happy if the markets go down, happy if the markets go back up.
This prevents me from making any irrational decisions and keeps my mind at ease. At today's prices I've been accumulating a certain set of assets that I feel comfortable with to know it will "make it worth my while" if the markets go back up all while still holding enough stables to make me WANT to see the market come further down.
If the market really does go back up followed by higher prices with "bottom confirmation"?
Here's another take on the timing to buy crypto by Forbes -
I'll GLADLY deploy the rest of my stables at higher prices. You don't need to be buying the bottom to make money in these markets. As long as you still have the early advantage the opportunity is almost equally great. The only difference is you are playing with more confirmation.
If you end up deploying ALL your stables too soon however there's nothing left to be happy about. And you also don't know how close or far away you are from further falling prices.
Buying too early with everything all at once generally doesn't end well.
Even if you believe the bottom is in, you should still accept that you can be wrong.
Just buy in a little bit higher. Bull markets last way longer than 2 months after all.
If you are into crypto and looking to hold up discussions, join communities and network better with traders and crypto enthusiasts from all over the globe, you should definitely check out -
https://app.ourcryptotalk.com/