If you are among those people who put too much emphasis on historical prices. Drive results by data analysis and make decisions based on history; you are the failed trader. Did you know when the market moves in the trading world, prices are meaningless? So why will you be paying too much attention to it and bringing massive psychological pressure? Trading is always based on trends. Sometimes it reaches new highs and sometimes it reaches new lows. If you think that I am wrong, then check BTC historical figures. You can learn that when it reaches the high, it always touches new high points, and when low, it breaks previous records.
From a short-term trading perspective, these traders have more difficulty; like, if the trend is falling, how he will make a profit? In reality, these traders always face difficulty during the entry and exit position because if the trend is falling, how can he justify the asset reaching the specific high? If you are denying the trend, you always look for a reversal, but could you count how many times you are wrong?
Forget the bull and the bear; if you think that the market is rising, then you could set a goal to achieve some target. It is most probably your winning rate, and it is the probability trading. But how do you determine the success? Did you learn about the news, fundamentals, and technical aspects? If your answer is no, then how do you justify your decision?
If you are the person who believes in perfectionism in the trading world. But, trading world is based on thousands and thousands of traders decisions. The better approach is to get rid of perfectionism, learn the reality, and make the decision that is best at the moment.
If you change your mind and start believing in the trend now, you are on the correct path. High volatility is your best friend; only this will bring huge profits if used in all trend-following strategies. Whether you love mid-term or short-term trading, you get the expected results. A profitable trader always adapts to the current market situation and explores potential opportunities. He never looks for perfect opportunities or buys at the bottom. Thanks for reading.
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