I’m tired of it. Watching retail investors buying Crypto especially with no research, no checking charts, nothing. Buying because they saw something on Social Media. Buying because “Their mate said it was a good idea”.
Then I watch as the very same people are then moaning and complaining that they “Bought the dip but it’s still going down”. They didn’t buy the dip, they bought into a downtrend. WHICH IS FINE if you are doing dollar-cost averaging.
FOMO (fear of missing out) is so much in play here. The number of times I hear “I wish I had bought Bitcoin when you told me to”. I know I get ignored, I bore people because I have autism. Hours and hours of detailed explanation of blockchain technology does that. I know it because I’ve asked my friends to tell me if I am boring them. But you have to understand my brain functions at a million miles an hour. I don’t sleep well, never have done. Sometimes I code all night.
I love you so much fellow retail traders but it’s like you grab your small investments and run headlong into a running downtrend. Like a frightened rabbit, you then drop your investment in the middle of the road and run off with a loss.
Most of my investments and ideas are longer term. For instance. I was listening to LBC London which I do from time to time, there was a discussion about legalising cannabis and a company GW Pharmaceuticals was talked about. How there were people involved in it from the government and they were supplying medical cannabis mainly to Europe as it’s not that widely available in the UK. So I invested because I looked at the charts, I can see that if cannabis gets legalised here then I guess these guys will supply it.
What do I see with retail traders? Rabbit trading. Don’t be a rabbit, be a sloth. Don’t rush headlong into buying XYZ stock, or the latest crypto without properly looking at the markets. Without doing research, without studying. Otherwise, YOU ARE GAMBLING, NOT INVESTING.
I recommend:
- Spend an hour a day studying charts especially daily charts and use the MACD indicator – this is called technical analisys
- Keep your nose to the ground on LONG TERM NEWS that will affect a particular market and add that into your trading mix.
- I subscribe to Bloomberg. I have their advanced Live TV screen running all the time. It looks like this:-
There is a live video feed with comment and interest and on the right and below news streams. It is BRIMMING with trading ideas and at an introductory offer of $3 a month for 3 months. It’s well worth doing. You need to see the markets as a whole not just that crazy Alt coin you just pumped your life savings into.
There are no short cuts.
Do your own research. Build your own portfolio and NEVER use leverage. (If your trade goes wrong and you have no leverage, the company, stock or crypto has to go bust for you to lose out).
Be First to Comment