Hey guys! The last couple of days I've been releasing these mini market updates and some of you seem to find them quite useful and informative, so I've decided to try and pump one out daily!
The overall market
As you can see, the markets are in the green again today! Leading the charge we have EOS and ADA with double digit gains while the other cryptos are mostly single digit gains.
However, Steem seems to be losing a bit of traction slipping from rank 24 to 26 since we last had a market update. We have gone down a bit on the Steem/BTC pairing but at least due to BTC's increase we're still neutral on Steem/USD!
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My Prediction
I feel like after a small bear trap a couple days ago, this sort of recovery indicates that we are indeed once again bullish. I am very confident that we will be breaking $500 billion soon and nearing all time highs again within months.
Note: I am not a financial adviser nor trained in economics
My Tips!
DON'T FORGET TO TAKE PROFITS!
This was my mistake. I felt on top of the world when my portfolio went x100 in less than 6 months but I only withdrew about 3 times my initial investment... before things started going to shit. Since then I've withdrawn around 10 times my initial investment altogether, which is not bad but could of been a lot better if I wasn't so greedy.
I recommend taking out your capital asap and withdrawing a bit every time you hit a personal goal, for example withdraw 1-2% of total every time you go up 50% from last target or something, set objective targets or else you're never gonna take profits and you'll get burnt like I did...
Don't give in to FOMO or panic + little story
Even at the worst of times, think rationally. For example, today my largest holdings COSS took a massive hit, dropping around 40% within hours. I sold and soon regretted it, but didn't buy back in due to FOMO, I waited. Not before long, I bought back in at a profit (in terms of COSS), and bought more and more and eventually had around 35% more COSS than I started, then COSS went back up and I sold all of my COSS again. I sold near the bottom, bought again near the bottom and then sold again way before the peak. I could've made a lot more money but I'm happy with the $6,000 I made today, of which I might put some into Steem! So I don't think about what COULD have been, because it's not reality.
Thanks for reading!
What do you guys reckon about my predictions, tips and advice? Discussion is welcome!
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A lot of the indicators I'm looking at on the daily are looking bullish. I've been taking profit in 5% increments.
Nice! I'm gonna be taking profits when btc hits around $10k and using half the money to momentum trade alts! Hopefully it will work out alright haha
Hopefully! I've been riding EOS, ONT, and ZIL all week. Just started taking profit on all three. The daily indicators on ONT and ZIL still look good but maybe there isn't enough history.
Starting to scale out of my position hete. Funding fee is gonna be high next Couple periods I night Just take a 1:1 short and snatch up the funding fee from longs.
Which coins are you trading @joeyp978?
I don't short or long anything, I'm too scared so I don't really understand that jargon LOL
Maybe I'll get into it one day though :)
This post has received a 21.85 % upvote from @boomerang.
Thank you very much for your analysis and your recommendations, for whom we are starting these reports are very valuable, and we dream of being followed some day by someone like you. but of course that's just a utopia for someone like me (the one you follow me haha). but stop joking, really very grateful for your prediction, I hope the market continues to improve, so that people from countries in crisis like mine (venezuela), we can be supported and have better profits from these markets. I follow you and I will be aware of your publications.
I wish you a happy day and a better life
It is very important to learn how the block market works, and I think after reading some of your publications, that although you are not an economic analyst, you already know a lot about it, knowledge that you have gained from your experience in the market and although I do not know much about the market and investment I can see that currently is the investment system that is generating more profits, as long as it is studied and analyzed and thanks to reports and predictions like yours @cryptoeater many are the beneficiaries.
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STOPYour post gives me encouragement at least make a prediction to the rise I also think that going up at least I have fun writing my posts and sharing my readings with other participants. I do not handle the language well and I use a translator but this is not an impediment to be communicated. Blessings
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