Stops keep you out of the game. If you feel like you need to add a stop then that means you have no confidence in your trade and you probably shouldn't be entering it all.
But you do have capital when you want to get back in, not like some traders I know about that couldn't make some trades because they were out of capital.
Then they need to trade less or size down lol. I don't need a lot of capital to get back in because I don't risk a lot of capital.
Why do you keep quoting these talking heads lol when you could just be quoting me? Anyway, I realize you are grasping at any news that you deem fits your narrative where this MUST go up...but you can't ignore the possibility of another extended downturn. Let's look at the chart...the ONLY thing that can forecast price. (4hr) The way I see it, to reach ath's this needs to rally over the next 24 hours, and in-validate 4 and go on to retest recent highs...if it doesn't, and we see another extension down to 5 then I'm expecting it to correct/consolidate over the next few months likely down to sub 60ks. You can't ignore that we have definitely seen a change in momentum...just a few days ago you were hyped and posting about 85k...and now crickets from you and the clown show...btw still waiting for the thumbs up/apology admitting I was right about this current drop in price and you (and the entire twitter-verse apparently that is now scrambling to explain it) were completely wrong and caught off guard.
You have mastered something when you can effectively teach it. deaddog has shown a genuine interest in your style but you havent been able to convince him. The rest of us who arent particularly interested in your particular style are even less convinced. Your communication style alone is grating. Youve gone downhill.
@semperfrosty! I thought you and the entire clown show would be too embarrassed to show your faces around here... Anyway, I'm not here to teach you guys! I have provided multiple links if you are interested. Besides I do not only use EW either...I use all facets of TA...so start reading about chart patterns, candlesticks, cyphers, fibs, wychoff etc etc and everything in between. You guys are just butt hurt lol. The only reason for your angst towards me is I am going against the plot. Deaddog isn't interested...he is being willfully ignorant because he refuses to acknowledge any of my projections...yet here we are exactly where I said we would be. And btw no you have not mastered something if you can effectively teach it...a lot of the most skilled athletes cannot teach/coach. What about Rodger federers tennis coach? or Magnus carlsons chess coach? They clearly haven't mastered to the same level. Teaching can be a good way of learning for yourself, but in no way equates to having mastered something. Yes I am comparing my TA ability to that of federer in tennis and magnus in chess.
No angst,I just think you can do better. Just my opinion though.Take it or leave it. My understanding of what youre doing is: -youve found a forecasting tool that you have faith in. -you are currently on the sidelines(outside your etfs)and you have levels that would trigger a long or short position when they are reached. -you dont expect things to bullseye(which is important)and you give yourself considerable margin for error by adding to losers and moving stops(I hope within reason). I dont see anything wrong with it and I actually sometimes see the charts meet your predictions. Theres a lot more going on with Bitcoin than charts though.I am a chartist in my shorter term trading but chart movements arent the intriguing part of a product like BTC,still in its infancy,still evolving.I would suggest that is why your ideas arent being drooled over right now. I'm expecting demand pressure to lift BTC over the next few months(your single correction scenario),however the future is unknown so if it sinks I will be interested to see how closely that movement tracks your posted charts(double correction scenario). Its all brain food. EDIT:we are having an edit off! .To challenge your last point:the student should surpass the master.
Nobody can bullseye anything. Yes I have an idea where price is going so I have entry points. I don't short...always in long except when holding in cash account. Where you are mistaken is there is nothing going on with bitcoin that isn't being telegraphed on the chart. I had the move up to 72k BEFORE etf's started buying as was revealed later in johnarb twitter screenshot...and I also had the drop to 69k BEFORE etf's stopped buying as was revealed later in johnarb twitter screenshot. I even said that we will probably be hearing that the rally was caused by etf's buying to match their inflow! This is why I am leaning towards a double correction here based on the recent price action...I guess in other words you could say I'm leaning towards more bad news coming out. The next 24 hrs as mentioned will be pivotal imo. If we do another leg down then I would expect sub 60k is imminent over the next few months as we begin the double correction...the news will just be whatever it is to justify the downturn. This goes back to the market being determined and not of free will...price must complete its cycles and the news will align with it.
Im a believer in cycles and they have made me money.I have kept elements of Gann in my trading from the beginning so I see where you are coming from. Right now,we are waiting for a catalyst.The chart printing a candle wont be that catalyst but there is a cycle the chart will follow after said catalyst.