Market Noise and Choppy Conditions
The market is currently experiencing a lot of noise and choppy conditions, compounded by geopolitical tensions. It's surprising how a multi-month range can affect our mindset. Despite being in the 60-70k range, many people have recently lost significant amounts of money.
We weren't very active over the past 2-3 days because there is no clear direction, and the market is just liquidating positions. Trading right now feels more like a losing game.
Take some lessons from this situation:
➡️ If you're new to crypto, avoid investing large amounts initially. 99% of the time, without proper guidance, you will lose your money.
➡️ Setting a stop-loss (SL) is essential. Always know your exit strategy before entering a trade.
➡️ Fundamental analysis doesn't apply to crypto as it does to other markets. Most altcoins are speculative assets. Follow what the charts indicate.
➡️ When you start trading crypto, you automatically accept the volatility. It's a high-risk, high-reward game.
You can make substantial money in crypto, but you must be prepared for both good and bad days. The key to success is preserving your capital in poor market conditions.
Feel free to DM with any questions.