Train like you play
Paper trading is a very smart way to start a trading journey or reenter into the markets after a break. It allows for testing a new system without putting money on the line. But make no mistake if you cut yourself some slack, you will do even worse when real money is on the line. Meaning you promise yourself once it is for real you won’t run that stop, won’t cash in too early, won’t break whatever rule you just broke in paper trading. Rest assured you will play like you train or worse. You need to muster up all your spirit to take each training session as seriously as if your mortgage is on the line. What you condition now will be ingrained for your later performance and all shortcuts will be magnified. Train like you play!
Trading requires the conditioning of certain behaviors. If you condition negative behaviors it will be tenfold as hard to retrain these bad habits later. With each segment of stepping forward, meaning with each time you anti up the exposed capital pain levels will be energetically magnified. Meaning the conditioning of these false habits gets deeper and deeper ingrained. Some even very successful traders might never recuperate from a staggering loss since the pain associated with producing the mistake that caused this loss is so big in proportion that it is hard to overwrite these levels of negative conditioning.
BTC-USDT, Monthly Chart, Simplify:
BTC-USDT, monthly chart as of September 7th, 2020
Clean, reduced, large time frame charts often give the best picture of what the future might bring. The white line on the monthly chart above of Bitcoin shows higher lows. An overall bullish notion. The green line indicates strong support and we do not see a high likelihood of US$6,416 to be penetrated by price. The yellow directional trend line has been successfully penetrated hinting towards higher prices. After that price breakout, the US$12.000 price level was rejected in August 2020. While September as a month has just begun, it so far confirmed the reversal of price and is likely to be closing a red candle. We anticipate October to be a month of uncertainty. The following three months in our view have a good chance to reach the US$13,000 to US$14,000 mark.
BTC-USDT, Weekly Chart, Just as planed:
BTC-USDT, weekly chart as of September 7th, 2020
Two months ago we posted a weekly chart with, what we call a “V’ formation (purple lines). We were hoping for higher prices above the US$10,000 resistance zone. The market turned into our favor. The yellow up arrow shows a trade we were able to make substantial profits on posted live in our free Telegram channel. Naturally, after such a breakout, advances ran out of steam and reversed. While the big number 10k was resistance it has now become support. We expect after a sideways zone of prices trading range-bound, with a possible quick stab for lower levels to take out weak hand stops, for Bitcoin to see advances again.
BTC-USDT, Daily Chart, Train like you play:
BTC-USDT, daily chart as of September 7th, 2020
The daily chart provides in price trading around the US$10,000 price zone a bullish tone. Multiple Candle wicks rejecting lower levels point towards a price advance in the future. Bitcoin is known for its volatility and we are living in times of a negative news dense territory. It would come to no surprise if an even extreme temporary spike to the downside would precede such a price advance. As traders, we play the odds and we were already able to produce a profitable trade from these support levels which we posted live in our free Telegram channel.
Train like you play:
What we aim to get across is, that even if you have just a slight hint of something not being quite right in your training session you should try to investigate. Find the culprit and work intensely on fixing the problem. Assuming this resolves later is futile. When stress levels are even higher due to money being on the line and additional challenges with real-time execution come along it is essential that the training sequences have been flawless.
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