Quote:
Originally Posted by OneHungLo
Oh I believe you on the price moves, what I don't believe is that you're accurately picking which way the move is.
This is like me saying hey there's this game called roulette and every spin it's either black or red....
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it is not like roulette at all...in roulette you lose what you put on the table if you call it wrong...in crypto you lose 0.05% if you put in your stop loss at the purchase price...in roulette its 50-50% (if we ignore zeros for arguments sake)...in crypto it is not 50-50...after a drop the chances of a recovery are slightly higher...then if you place a buy order somewhere up the road then the chances of that direction are again slightly higher if the condition is met...
also in roulette you can not move your stop loss up with the price...you can not use stuff like previous resistance/support levels and news to give you an edge in trading...you can not "know" the house like I know binance, on most days there is a movement when asians/americans/europeans wake up or go to bed...you can not use moving averages and RSI to give you a small edge because you know other traders/trading bots will be using them...also in roulette you do not have other exchanges that pump up/down the price and the resulting arbitrage guarantees a movement in that direction...a sudden spike at one exchange is guaranteed money on another and pump alerts are a thing...
I agree that 90% of all traders lose money...maybe even more...but not me...