Today, a guy who went long on Ethereum at 2,650 and got stuck came to me for help.
He’d been asking experts everywhere how to get out of the hole.
One told him to add to his position there,
another told him to add to it here.
The more he added, the deeper he got stuck. Now he’s out of money to add more,
on the verge of liquidation, and came to ask me today how to get out.
I can’t help him. I can’t make sense of market movements more than three days out.
I’ll say it again:
The market can’t be predicted; all you can do is respond to it.
The best way to deal with a bad trade is to cut your losses, admit you were wrong, and get out—not keep adding to your position and compounding your mistake.
Ethereum might reach 3,800 a year from now, but that’s a year away.
Let discipline set your floor, and luck your ceiling.
When the winds of change that can alter your destiny finally start to blow,
you might not even need wings.
As long as you’re still at the table,
fate will carry you toward the sky.
He’d been asking experts everywhere how to get out of the hole.
One told him to add to his position there,
another told him to add to it here.
The more he added, the deeper he got stuck. Now he’s out of money to add more,
on the verge of liquidation, and came to ask me today how to get out.
I can’t help him. I can’t make sense of market movements more than three days out.
I’ll say it again:
The market can’t be predicted; all you can do is respond to it.
The best way to deal with a bad trade is to cut your losses, admit you were wrong, and get out—not keep adding to your position and compounding your mistake.
Ethereum might reach 3,800 a year from now, but that’s a year away.
Let discipline set your floor, and luck your ceiling.
When the winds of change that can alter your destiny finally start to blow,
you might not even need wings.
As long as you’re still at the table,
fate will carry you toward the sky.