@rtrtcrypto
You say I got burned? When and how? (trading wise)
Also, you have to understand something, unlike most people that do not follow TA, traders following some form of proper TA (not EW IMHO) can't get REKT if they do things properly:
1) Stop loss
2) No margin or small leverage
Like I said, risk management..
Although I agree with what you say in the post above, I must say that I don't agree with you in general. (leverage is evil and I'd advise anyone to be cautious after sudden changes in price)
The thing here, is that you assume everyone is only interested in getting more BTC from trading altcoins. If you knew the NEM community you would take into consideration that we are actually only interested in long term gains.
Therefore my risk management is :
Keeping my XEM in my wallets and hold them there untill I can really start using them in stead of dumping on exchange for bargain prices :-)
Let's be fair here , you are promoting day trading while you seem to be insensitive for the fact that lots of people are not interested in those practices.
Do you know how many people we've seen here that thought that they were selling during a high with the expectation to buy when XEM was on a retrace (or whatever daytraders call it) ?
Lot's of people have burned their hands while trying to achieve some additional gains. It may very well be that you are a master trader that has a system to prevent you from missing out on these spikes but there are some facts that you are missing here.
First of all, the reason why so little people have been paying attention to NEM is because we have never been interested in hyping NEM to traders. Nothing good will come from that in the long run anyway.
Getting attention from people that are in it for the long run and are actually interested in NEM's technology is the only thing that counts.
So although we may have gotten some daytrader attention now, I'm sure some new long term hodlers have discovered NEM in the last couple of weeks.
Ever wondered why so little people are dumping after a surge like that
Second thing. Lots of developments are going on behind the scenes.
Do you have any trading system/indicator that can predict the impact of the above mentioned things?
I may be wrong in not taking a profit here and there after a huge spike but at least I don't have to worry missing the train when it's leaving for the next station.
The reason I'm replying to your posts is mainly because I don't want newbie investors to listen too much to all that daytrading wisdom. It will only harm them in the long run IMO. As long as it's not daytrading that dictates the price of XEM your analysis will only get you this far, but may just as well force other people to make bad decisions for themself in the long run.
My advice to anyone interested in NEM:
1. Take your time to research what this NEM thing is all about
2. If you want to be a day trader , feel free to do so but don't forget lots of people are only losing money on it.
3. If you chose not to become a daytrader then don't let sudden price fluctuations affect your mood, don't panic sell and don't FOMO buy!
4. Enjoy the ride! Everything in life has its ups and downs. And it's the downs that separate the boys from the men (or girls from the women if you like
)
