LoonyToons

every trade, and I mean every trade, is DCA, if you're not dollar cost averaging into trades, then you're going get dumped on. These dump-oners are called "bag holders." I often got holding the bag during my first six months of trading because a) entering LONG positions late, rather than waiting for pullbacks and/or consolidations b) panic sold when some traders took profits, despite the strong uptrend, sentiment, FEAR/GREED index c) couldn't DCA, lower my price average because I was already over leveraged 10X or 20X; theses realized losses adding up with trade after trade d) revenge trading, balls to the walls, gambling, basically; temporary highs, or long-lasting lows e) and probably most importantly, not studying the weekly charts, the day charts, the 4-hour charts, and the one-hour charts before considering the bigger picture, the larger trends out of eyeshot, what the real traders were following. Blah, blah, blah ... just journaling guys ...

Basically, in confirmed bear markets, I learned to never over leverage LONG positions. During bear markets, my max is 7X lev, and that's only if the DXY is dropping and/or S&P 500 (and other indices) are rallying, passing higher highs, because of some positive news.

And my SHORTS are always 2X leverage max, because SHORTS are frightening. Let's face it, when BTC rallies back up to the 40's and 50's and 60's, the likelihood of it ever dropping back to 27K are slim. LONGS are like sun rays, man. They go on and on and on ... until some neutrino passes through your drug-addled brain in some retirement centre somewhere in some future reality. Dig?

You're stu...

Stupid

if SPX dumps down to 3800, we're looking at late first quarter 2023 for new higher highs on BTC, as in spring ...

that said, when it eventually moons later in the summer, HODL like the whales do.