Why I Don't Like Bottom Fishing, but Prefer "Getting In at the Halfway Point"
Many people think: buying at the lowest point is impressive, so they are always thinking about bottom fishing.
But in the highly volatile cryptocurrency market, I prefer: to get in at the halfway point once the trend is confirmed.
The reasons are simple:
1) The lowest point can only be known after it has passed; bottom fishing is essentially gambling;
2) Once the trend is confirmed, there is still a lot of room to profit;
3) Getting in at the halfway point, although the price is not "perfect," has a higher win rate.
My approach:
Wait for the price to regain the key moving average/upper range, then intervene when it pulls back without breaking;
Set the stop-loss below/above the structure, and exit when the structure breaks.
Remember: We are not here to win the "lowest price/highest price championship"; we just need to secure that segment that is repeatable and replicable.
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