RE:I respond to IrishThe biggest lesson I learned about the market is this guys the most important thing. Its not about price and earning and finacial reports. Its about psychology. See Irish is the byproduct of YouTube investing. He watch YouTube videos and sees some triangles and tea cup shapes and forms a strong narrative without actually understand the fundamental forces on the price. I've said this so many times and has been proven right. This stock follows bitcoin, not etheruem. Doenst matter what the narrative is, just look at the charts. If BTC is falling so are miners and company funded talk will come into lay when BTCs price stabilizes in a decade. For now its all speculation, hype and emotions. If you don't understand that, you'll never be successful in this business. Because price is all about emotions guys. Thats it. If they can drop price and raise it and induce people to go long while continually dropping price. They will, because now they have the liquidity to buy larger amounts for cheaper and you are funding that as they profit from shorting against you. If you don't understand price, then get out and go buy REITs and safe plays. This game isn't for the weak or faint at heart
AlphaJ wrote:
so people can see it if they pay attention. How Irishes obsessed on his narrative and what he think the market should be. Get that out of your head. When you place trades you should be placing based on where you are and direction of price. Take your feeling away. The chart tells you exactly how the market feels. And right now, looks like crypto moon boys are parking their space ship and applying burger check out at burger king. Take your feeling and narratives away. Just look at the reality and be patient. You'll do fine. But don't be like Irish. He's is a perfect example of a retail trader thats called, "the dumb money" last guys in and first guys to capitulate. Always 2 step behind. And don't feel bad for him because he chooses to make excuses and hate everyone instead of taking accountability for his greed and ego.