<div class="bbWrapper"><blockquote data-attributes="member: 60847" data-quote="Ocean Man" data-source="post: 945285"
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Think it ultimately depends, I feel like the market is a bit weird at the moment. I've done the same thing in the stock market, continuously lowering my dollar cost average and ended up holding huge bags for a long time. <i>Which weren't worth it</i>.<br />
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The markets could go up, they could stay flat, or they could go down. Nobody really knows. But it'd be nice if it did go down to have pulled out beforehand and purchase more at a significantly lower price than what I would've got than if I held.<br />
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Definitely bullish long-term, I just think there's a coming correction that would drop prices significantly again and it'd be great to take advantage of that.
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</blockquote>Trying reading up Tom Williams' work on Volume Spread Analysis (VSA)<br />
And then The Secret Science of Price and Volume by Tim Ord. I've found these books helped me understand how to read charts much better and even see potential bottoms.<br />
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For DCA, I've felt safer to do it mindlessly for mutual funds, but for stocks, I'd have planned a limit on how much and how to continue dollar-cost averaging.<br />
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We also need to see why it dipped in the first place...was it to correct the charts back to a moving average, say 20-day or 60-day MA after an all-high peak? Predicting a potential bad news incoming? Sector rotation turning to another industry?<br />
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One of my theories on why the market is weird is because we now have too many retailers who SHOULDN'T be in the markets, but there they are.<br />
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So when the smart-money buys/sells amass, the retailers just fall for the usual traps and the panic buying/selling become even worse- their emotions are even more desperate.<br />
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<blockquote data-attributes="member: 57545" data-quote="Timmy C" data-source="post: 945307"
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I would focus more on fundamental analysis than technical analysis.<br />
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Most traders get Rekt. 90% + don't out perform holders. But im SURE <a href="https://www.thefastlaneforum.com/community/members/2302/" class="username" data-xf-init="member-tooltip" data-user-id="2302" data-username="@James Fake">@James Fake</a> is the exception. <img src="/community/imgs/emoticons/em-tongue.png" class="smilie" loading="lazy" alt=":p" title="Stick Out Tongue :p" data-shortname=":p" /><br />
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I just buy and hold.<br />
I do use TA sometimes, but I maybe sell some alts like 6 months after buying usually.<br />
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One position I've hold for more than 2 years and have just taken profit along the way.<br />
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The only coins I have not taken profit on is BTC and ETH and I am okay with that.<br />
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If you don't know what your doing, well, I don't what to say.<br />
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Someone csn tell you, but your ultimately the one that decides when to hit buy and sell for better or worse.
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</blockquote>I don't understand how daytraders are happy nabbing pennies by buying/selling on the same day.<br />
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I'd rather be patient and wait for the stock/instrument to give me a much better return.<br />
And this is where most traders fall short of ...patience. I myself have missed out good prices by buying early in the week, when Friday could be better lol.<br />
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I do some swing trades now and then, but they are more likely to work only if the overall market sector is bullish, and it has steadily kept to the moving average on a general uptrend before.</div>
