Loser loser trade abuser

It’s completely dishonest to only talk about the good days, but I have crappy trading days as well.

Let’s enjoy a little Schadenfreude at my expense, eh?

Two days ago Finrev was positioned net short, and we’ve endured a dizzying down-up-down couple of days.

>be me, algo trader

> short squeeze wiped out a big chunk of the profits we just earned.

>algo reduced position sizes

>move down started again, but with reduced size so we won less than we lost before we reduced risk

You can see what happened on bitcoin, it looked dead, rallied hard, then promptly died again.

Here is the coins I follow plotted against each other.

Random, innit?

Here’s how to think about a spaghetti chart (you can build this yourself for free with tradingview)

ETH is the biggest altcoin and therefore a middle of the road gauge for altcoin sentiment. If most coins are beating ETH we are probably in some variant of “alt season”

• ETH is basically flat.

• About half the coins are up, and about half are down bad.

• There are a number of outlier up and down coins

• The last 2 days the up coins were down, and the down coins were up

I want to be clear. This is NOT a good environment for our (or any system)

We need a clear directional trend to make money, and this ain’t it.

What’s happening here is clearly a market thats evenly balanced between buyers and sellers.

Buyers can push it up, but there aren’t any sideline buyers jumping in to keep a rally going.

And the crypto psychos have endured so much anyway, they aren’t selling now.

What this is giving us is a picture of UNCERTAINTY.

Traders are nervous.

Jumping in and out of their positions.

This is not a time to take a strong directional view.

Shitty but honest take: It might go up and it might go down, but it probably won’t do either until everyone has PTSD for another few days.

What can you do?

Stay out of the zone of fuckery and wait for it to resolve.

In the meantime if you want to learn what my trading really looks like, its a lot simpler than you probably think.

I don’t waste any time mentally jerking off over market direction.

EVENTUALLY markets start moving. When they do I will be on the right direction.

Until then my account will probably go sideways.

Making peace with that lets me sit on my hands and make money when there’s money to be made.

If you want to see how I do it CLICK HERE

When you are ready to join us with press-button-wealth creation CLICK HERE

Scott