ETHUSD Update: You would think after the magnitude of the recent BTC surge, this market would be much further than it is. Although a nice push off the 450 area, it could not get through the 480s which is certainly something to note. Keep in mind, it is easy to be tempted to buy into such a situation, and worse it can occasionally work which reinforces ineffective behavior over the long run. No matter how stellar a runaway market looks, having the discipline to wait for criteria to line up is key to long term sustenance.

Chasing A Runaway Market

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5 Responses
  1. Lucky7

    Hi, thanks guys for your great expertise.
    I don’t know when to short for small profit?
    I know it depends on the buying prices of coins. But in the past I sold small amount and then the price raised even more?!
    Could you please write more when to sell coins with notes… If you buy f. i.
    at 5200 you can sell a bit now at 7…( This is just as an example).~_^

    1. Marc Principato

      Hi and thank you for your question. Shorting for a small profit is not worthwhile in these markets in my opinion. We do not short these markets and for good reason. Shorting requires margin and we are U.S. based so we cannot use margin. Second, if you decide you want to get out earlier during a price surge like we just saw, typically the exchanges become inaccessible. It is insignificant when you have a small position on, but try getting out with a larger position. We look to get long on weakness and lock in profit during strength. If we want to short something, we look at the forex market. Thanks again for your question.

  2. pipercolt

    yes, my ego was brewing after missing this whole move in BTC as my exposure was only in Alts. hopefully ETH will give us some kind of a signal in the future.

    1. Marc Principato

      Hi and thanks for sharing. Ego is your worst enemy in this game. ETH will eventually line up for another buy. It is only a matter of waiting. Patience is one of the most valuable and elusive skills to develop as a short term trader. Exercise your patience muscle, it will save you from a shrinking account. Thanks again for your thoughts.

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