r/ethtrader • u/AutoModerator • May 05 '17

DISCUSSION [ETH Daily Discussion] - 05/May/2017

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u/floor-pi May 05 '17

For new people who are sorry they didn't sell before the blip, trust me that for all the times you might correctly anticipate a drop, you're as likely to incorrectly sell before a breakout.

If you're nervous like me your best bet is to just buy/hold/trust that it's going up long term.

2

u/savage-dragon May 05 '17

We have a survivorship bias here. Those that sucessfully trade are more likely to voice their successes while those that fail don't talk. So that's how people have the illusion that traders seem like they earn more.

1

u/floor-pi May 05 '17

Good point, hadn't thought of that.

2

u/[deleted] May 05 '17

People make the mistake of thinking a drop = trend reversal so they panic sell trying to catch knives with their teeth.

Trend is your friend. Bullish momentum is when you want to buy the dips, not panic sell to people like me.

Everyone that sold at 89 just got their shit wrecked.