📈📉 I lost $5,400 fighting trends early on. Trust me, for us retail traders, trying to pick tops and bottoms is a fast track to liquidation. Trend following isn't about being first; it's about being right *with* the market's momentum. It stacks probabilities in your favor, avoiding those brutal whipsaws countertrend traders face.
How do you spot a trend? Simple: an uptrend makes consistent higher highs and higher lows. For confirmation, use moving averages – the 20 and 50 EMAs are my go-tos. If the price is consistently above both, and the 20 EMA is above the 50 EMA, you're likely in an uptrend. My golden rule after those painful mistakes: ONLY long in an uptrend, ONLY short in a downtrend. No exceptions. Don't fight the current.
Imagine BTC just broke above $70,000, then pulled back to...
How do you spot a trend? Simple: an uptrend makes consistent higher highs and higher lows. For confirmation, use moving averages – the 20 and 50 EMAs are my go-tos. If the price is consistently above both, and the 20 EMA is above the 50 EMA, you're likely in an uptrend. My golden rule after those painful mistakes: ONLY long in an uptrend, ONLY short in a downtrend. No exceptions. Don't fight the current.
Imagine BTC just broke above $70,000, then pulled back to...