Hello all,
Nothing really needs to be said about that image above. This is half analysis, half education.
We are in a no trade zone currently. I would definitely not recommend shorting bitcoin at this moment. There are still a ton of leveraged shorts and I just can't be with the heard like that. Wouldn't recommend any one else be right now. $6,000 has beaten YoungShkreli. I will not be trying to short anymore until there is a move up.
Everything I said before about the bear market being almost over is even more true today. This is just not normal market behavior, you cannot safely bet on downside right now. You cannot be trading in this environment at all right now.
......
Everyone needs to be using a stop loss. I would further recommend that you have multiple accounts on multiple exchanges, but you absolutely must use a stop loss in a market that is unregulated like bitcoin. You will get destroyed sooner or later. Playing this game without a stop loss is the same as Russian roulette. It's gambling. It's adding unnecessary risk. That is called gambling. That is not the same as speculation. Speculation transfers risk. Gambling creates it. Don't gamble.
-YoungShkreli
Nothing really needs to be said about that image above. This is half analysis, half education.
We are in a no trade zone currently. I would definitely not recommend shorting bitcoin at this moment. There are still a ton of leveraged shorts and I just can't be with the heard like that. Wouldn't recommend any one else be right now. $6,000 has beaten YoungShkreli. I will not be trying to short anymore until there is a move up.
Everything I said before about the bear market being almost over is even more true today. This is just not normal market behavior, you cannot safely bet on downside right now. You cannot be trading in this environment at all right now.
......
Everyone needs to be using a stop loss. I would further recommend that you have multiple accounts on multiple exchanges, but you absolutely must use a stop loss in a market that is unregulated like bitcoin. You will get destroyed sooner or later. Playing this game without a stop loss is the same as Russian roulette. It's gambling. It's adding unnecessary risk. That is called gambling. That is not the same as speculation. Speculation transfers risk. Gambling creates it. Don't gamble.
-YoungShkreli