Profit will always be chased.
We are all in the market to make profits and market players always find a way to use this principle to manipulate the market to their advantage. A lot of traders who entered the market to enjoy the yesterday’s bullish wave were trapped.
Rising prices persuade all traders/investors in ways the best marketers envy. The bullish wave of price movement can serve as a drug that can turn value-conscious investors into naive optimists, detached from their own reality by the actions of someone playing a different game than they are.
Many trading and investment decisions are rooted in watching what other people do and either copying them or betting against them. But when you don’t know why someone behaves the way they do, you won’t know what exactly motivates their choices in the market and whether they ever learn the lessons from their mistakes.
When an influencer says, “You should buy this a particular asset”, keep in mind that they do not know who you are. Neither do they care whether:
- You are a teenager trading for fun?
- An elderly widow on a limited budget? Or
- A family man trying to shore up gains to make ends meet?
I don’t know where you fall in the three categories of people above but one thing is sure, their trading priorities would be different. Financial decisions are very personal because you face the consequences of any poor money decisions you make and vice versa.
In conclusion,
As ace into the bull run watch out and don't fall for the trap of chasing profits or blindly copy trades of other teaders because you can be swayed off by people playing a different game. Always have the patience to time your entries and a risk to profit ratio per trade to hedge your money.
