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RE: My Steemit review (rant)

in #trading7 years ago

What Steem ? My account is worth about $20 or something, and only because of hike in price recently :-)

I don't need to learn any more about crypto to trade it, if there are people and money involved then I think I'd do ok. Look at that BTC example from the other day, nailed it perfectly ;-)

Something I was going to mention the other day but forgot. You know that diagram that everyone references about market cycles ? You've even used it yourself to good affect in a couple articles. Well I'm sorry to say that's not real !

The first part of the diagram cycle sure, that's what a new asset normally looks like and follows pretty much all those stages. But that's only the initial cycle, it doesn't keep repeating like that ! Everyone is waiting for the cycle to 'start over' with a huge spike up in price. It doesn't work like that, everyone is reading that diagram wrong.

Trust me, I've been staring at charts for more than 20 years and I've never once seen a stock repeat that pattern, ever. It's a one time deal and it only happens on new products, where it's very predictable for sure. Just don't get your hopes up like everyone else who misread that diagram and think it's a 'map' of whats to come.

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Rather than reply to this now, I think I'll dedicate a post to you later ;)

oooh ! my first 'dedication' ! Good idea, we should stop having these lengthy chats and turn them into articles anyway :-)

True. Might as well monetise our many pearls of wisdom!