A little reminder to my fellow Binance traders: Don’t trade with emotions.
$ESPORTS started pumping yesterday and continued today. Naturally, plenty of traders jumped in to short it, and many ended up getting liquidated.
But here’s what I find interesting.
This coin was practically dead for months. Yet if you look back approximately a year, you’ll notice it had a similar pattern of pumping and dumping.
That history matters.
A lot of traders saw a coin that had been dormant for months and assumed the pump was an opportunity to short. Others probably got caught up in the excitement and chased the move.
The market doesn’t care about your expectations, your opinions or how convinced you are that a price should go down.
Study the data, understand the price history, watch liquidity and leave emotions out of your trades.
Sometimes the best trade is simply the one you don’t take.
$ESPORTS
$ESPORTS started pumping yesterday and continued today. Naturally, plenty of traders jumped in to short it, and many ended up getting liquidated.
But here’s what I find interesting.
This coin was practically dead for months. Yet if you look back approximately a year, you’ll notice it had a similar pattern of pumping and dumping.
That history matters.
A lot of traders saw a coin that had been dormant for months and assumed the pump was an opportunity to short. Others probably got caught up in the excitement and chased the move.
The market doesn’t care about your expectations, your opinions or how convinced you are that a price should go down.
Study the data, understand the price history, watch liquidity and leave emotions out of your trades.
Sometimes the best trade is simply the one you don’t take.
$ESPORTS
