
Learn | Do | Teach | Repeat Levels, Invalidation, Live on @WOLF_Terminal
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Joined December 2009
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Once again, long at the lows while the timeline was hunting shorts and calling for doom.
Same at 75–76k. 62–63k. 58–60k.
Did I know those would be bottoms? No.
Anyone who says they did is full of shit, full of themselves, or both.
What I did know: for years I had it backwards.
Bearish at lows, bullish at highs.
Excited after pumps, scared after dumps.
Bought when it looked great, sold when it looked uncertain.
So I stopped.
Buy low, sell high.
Buy red, sell green.
Buy dips, sell rips.
Everyone knows it. The hard part is the discipline to actually do it. It's a process. Not perfect. Still mistakes. Still losses. Just fewer of the dumb ones.
Everyone wants to buy the bottoms but they stay selling the lows... make it make sense people. bitcoin:native
Happy weekend!
b̾i̾t̾s̾o̾f̾w̾e̾a̾l̾t̾h̾ retweeted
I'll be livestreaming in the @candlecartel_x discord in an hour or so before tonight's Market Update livestream with @bitsofwealth at 8:00pm EDT | 5:00pm PDT.
discord.gg/HESJRCAeJ
b̾i̾t̾s̾o̾f̾w̾e̾a̾l̾t̾h̾ retweeted
FOMO Friday - What's next for Bitcoin? Crypto Market Review with @Bitsofwealth and @Natnatx007 xitter.cf/i/broadcasts/1RKZzBdZL…
Read 👇
If you are interested in understanding the way I write my posts, please continue reading. If not... well, too bad for you!
So, I remember very well how my start in the trading world began.
I was a young professional with some surplus income.
I Googled how to invest and lucky me, landed on some penny stock forums (sarcasm)! All I read was how great the idea was and that the company could only go up.
I bought into the idea being sold to me.
I had no knowledge of risk and money management or charts. I had no idea how stretched the price was from the moving averages. I just believed in the idea behind the company and put a lot of my savings into it.
After some time, the price went up a little, and I felt like I was right, that the story was right. But then the price started falling, back to my entry price. I bought even more, reading the comments on the forums saying the price was about to go back up.
But then, one night, I felt wrong. I could not sleep. My subconscious, for some reason, was telling me something was wrong. I was playing a game where I did not know all the rules.
The next morning, I sold everything for a loss. Can't remember how much, but enough to scare me...
Did I learn from this? Not immediately.
After a while, I read about another can't miss idea, so I dumped a bunch of cash into it, totally having forgotten the ill feelings I had that one night while playing the other stock, buying too much of it.
The price started going down below my entry, and I dumped it once again for a loss.
From that point, my cousin recommended I read Stan Weinstein's Secrets for Profiting in Bull and Bear Markets. Game changer!
I learned that the fundamentals were meaningless, that the stories meant nothing if the price was not exhibiting characteristics of a big base breaking out.
What helped me most were the stern words from @StanWeinstein13 and other traders like @PeterLBrandt. Rigid words, which could sound harsh to some. But these were words of experience. They had learned the hard way, and lucky for me, they decided to share their knowledge.
All the permabulls are dangerous. If somebody never says the words "stay safe," "sell," or "wait this out on the sidelines," then they are dangerous. Any professional trader with longevity will tell you that defense wins the game. That is what I specialise in.
I never enter at lows (which are only known with hindsight).
I refined techniques to help me spot the lower-risk, higher-reward entry points. Where the odds of having the fastest gains, for the most sustained periods of time, are more likely.
If the trade fails, I bail. Live to fight another day. The stock I trade will not get upset at me if I dump it. Only ego can hurt me.
Do I come off as harsh sometimes? Sure, depends on the day, depends on whether I read stuff that starts to grind my gears!
But the ones who had the sternest and most stubborn outlooks on objective and unbiased chart trading are actually the ones who helped me out the most.
Not the cheerleaders who tell you to double down in a downtrend.
Well, that is my journey, and hopefully this resonates with you. If you are reading this early in your trading journey, you can avoid the mistakes I made and spot the tourist traps!
Patrick
b̾i̾t̾s̾o̾f̾w̾e̾a̾l̾t̾h̾ retweeted
LIVE Market Analysis w/ @bitsofwealth - $BTC 81k, Crude $100, Silver $55 xitter.cf/i/broadcasts/1wxWjlNAL…
b̾i̾t̾s̾o̾f̾w̾e̾a̾l̾t̾h̾ retweeted
nobody cares if you called it
what matters is if you knew where you were wrong before you clicked buy
and that you sized it so being wrong didn't hurt
right or wrong is the market's job
risk is yours
process > outcome
Talked about crude oil on the @WOLF_Terminal stream today and how we could be seeing a few days or weeks of cooling off before another large move.
b̾i̾t̾s̾o̾f̾w̾e̾a̾l̾t̾h̾ retweeted
LIVE Market Analysis w/ @bitsofwealth - Bitcoin & Crypto, Crude Oil, Gold, Silver & More xitter.cf/i/broadcasts/1qKVmyqdR…
$BTC
daily closed 81.8k, under the 21 ema (82.4k) and under weekly mid (82k)
asia already took the PDL
1h reclaim + hold of PDL = sweep & reclaim and we look for higher prices
no reclaim = 80.6k (1D 50 ema) & possibly PWL
don't trade the middle
kill: daily close under PWL (79.8k) that holds as that opens mid to low 70s
b̾i̾t̾s̾o̾f̾w̾e̾a̾l̾t̾h̾ retweeted
I'll be livestreaming market analysis and methodology at 7:00pm EDT | 4:00pm PDT before doing my recording today over here on the @candlecartel_x discord.
It's free and sponsored by @BTCCexchange 👇
discord.gg/HESJRCAeJ












