I don't know how many times I've heard that from other traders..."No, I don't trade in Crypto because there is a lot of manipulation" (LoL).
...and I don't doubt that either, but it's not like the traditional market is a "sea of tranquility" in that regard.
Without going any further, today I experienced a catastrophically manipulative episode on the GOLD chart in less than a minute that left me perplexed.
I have made the entry in 1Hour, Risk/Reward ratio 1, conservative size...
After a while, with the operation already in profit, this is what happened just before NY opening:
Perhaps the "drama" is better appreciated if I go to the 1 minute graph:
Obviously I had the position with the STOP-LOSS in place... something that the "market" seems to have memorized perfectly (LOL)...
...and at this point, all markets are the same, whether crypto, commodities, stocks or Forex...the only thing that works in all of them is risk management to at least not end up at zero in a sigh...
Have a very good weekend!
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I like the ouch and re-ouch haha
Easy bitcoin trade is: buy when weekly rsi is way into the oversold; sell whe... never sell.
True
All of the markets can be manipulated but I do think the crypto markets are easier to manipulate. There won't be an organization to fine people who manipulate crypto prices but there will be for stocks/ETFs.
Sorry to hear about it! Great that you had a Stop Loss on your position. Yeah, I think they unexpectedly increase volatility intraday to clean out high-leverage traders who don't have enough capital to hold their positions. Still, that means, they can manipulate price at least intraday, but probably others can manipulate it on a longer term.
Of course, it is a fact that all other such markets also go up and down in the same way, so if you want to make money in this market, you have to work very wisely.
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Every financial market is corrupted and manipulated.