One thing you need to understand is that a lot is happening around the world right now.
Inflation is high, yields are going up, stocks are selling off, crypto is going down, and people are panicking.
The Nasdaq was down almost 7% yesterday. The last time we saw something similar was around the COVID crash in 2020, if I'm not mistaken.
But think about it. This isn't just a crypto problem. Everything is under pressure.
You need to ask yourself whether you can handle the current market conditions, both emotionally and financially.
If you can't, just sit on the sidelines and watch until things settle down. Don't touch the market.
Do you think I've spent the last 10 years in this market for nothing? I've seen all of this. I've been through it all.
And one thing I've always followed is simple: When I don't understand the market, I don't trade.
Most of you trade like you have to do it every single day. As if this is your last chance and the market is going to disappear tomorrow.
That's not how it works.
If your goal is to trade for the next 5-10 years and pursue this as a career, what's the rush? Why do you feel like you always have to be in a trade?
I can skip trading today, tomorrow, for a week or even a month. I know the market isn't going anywhere. I'll find opportunities when they come, but I don't force trades just for the sake of being in the market.
Maybe someone you're following understands what's happening and is taking trades. That's fine. But if you don't understand the market yourself, don't touch it.
You need to understand whether your positions are something you can handle in the current conditions.
If you can't handle the volatility, financially or emotionally, just stay away.
Let the market do whatever it wants. Wait until things settle down, the market becomes easier to read, and you feel comfortable taking trades again.
You don't have to trade every market condition. Sometimes the best decision is to sit on the sidelines and do nothing.
Inflation is high, yields are going up, stocks are selling off, crypto is going down, and people are panicking.
The Nasdaq was down almost 7% yesterday. The last time we saw something similar was around the COVID crash in 2020, if I'm not mistaken.
But think about it. This isn't just a crypto problem. Everything is under pressure.
You need to ask yourself whether you can handle the current market conditions, both emotionally and financially.
If you can't, just sit on the sidelines and watch until things settle down. Don't touch the market.
Do you think I've spent the last 10 years in this market for nothing? I've seen all of this. I've been through it all.
And one thing I've always followed is simple: When I don't understand the market, I don't trade.
Most of you trade like you have to do it every single day. As if this is your last chance and the market is going to disappear tomorrow.
That's not how it works.
If your goal is to trade for the next 5-10 years and pursue this as a career, what's the rush? Why do you feel like you always have to be in a trade?
I can skip trading today, tomorrow, for a week or even a month. I know the market isn't going anywhere. I'll find opportunities when they come, but I don't force trades just for the sake of being in the market.
Maybe someone you're following understands what's happening and is taking trades. That's fine. But if you don't understand the market yourself, don't touch it.
You need to understand whether your positions are something you can handle in the current conditions.
If you can't handle the volatility, financially or emotionally, just stay away.
Let the market do whatever it wants. Wait until things settle down, the market becomes easier to read, and you feel comfortable taking trades again.
You don't have to trade every market condition. Sometimes the best decision is to sit on the sidelines and do nothing.