disclaimer
If you are in a coin for the long term, this article is not for you. I am writing this not to discourage anyone from fundamental trading, if you are earning lots from it, good! continue with it, but if not, please read :)
Anything under 'buy the rumor, sell the news' for me is called fundamental.
i will start with XVC
So many people i see FOMOing around XVC lately, if you look at the chart,
It has already gone so high up, and people are still greedy. If you use any technical indicators, you will know that its already overbought already at 16k, if it retraces at 16k, you can still buy, but it went all the way up, this is where all the risk is!
after that it's going higher till 30k, way too overbought, if you bought at 30k, you are one of the Fomos, it's okay if you are first time trading, but if you keep making Fomo mistakes over and over again, i suggest you join my telegram channel at cryptopedians and REALLY earns!
I myself have been in the shoes of Fomos alot of times, buy at high price, but most importantly, learn from mistakes and never do it again :)
then XVC retraces down till 19k but are you really sure that it won't crash from here? What if the news is fake? it has already gone up 100%, the marketing company sets target of 45k, and they deleted the target, lets see if it can be reached.
$ok one of those gulity of FOMOing
At least this guy don't delete the target, admit their mistakes :)
There has been a lot cases like $ok, $fun, $emc2, $xel. palm beach club and trading crypto coach to name a few, i will explain more in article 2.
we, as humans, are emotional people, when it goes up, we are greedy, when it goes down, we panic, it's normal.
what i am advising you is that, PUT stop losses and Take profit in these kind of highly risky trades. You have to be disciplined!
You don't gamble, if you want to gamble, might as well go casino. The luck is more in baccarat too :)
you have to stick STRICTLY to your trading plan, as the saying goes, 'fail to plan, plan to fail' .
Of course we want $ from day trading, but this is not the way to do it, it can bring you lots of money, but you will lose alot fast too. Stop losses and take profit is really important in short term fundamentals trading.
My plan is always to minimize risk and to gain as much as possible.
To end off,
Don't forget to follow, resteem and upvote :)
Any comments, whether negative or positive, is appreciated :)