Dogecoin is causing the rest of the cryptosphere to respond, and it is causing the doldrums to cease and the trough is no longer a tranquil horizontal line on a slow and steady decent, but now it's a cacophony and a flurry and a mix of activity.
For a day trader:
It is good to be able to adjust rapidly with your capital. Much of it is a mental adjustment, but a lot of it is the actual manual putting in and taking out of capital during at the right times, and having the access and ability to do so at a moment's notice is crucial during periods of active trading.
A few principles of trading that I can articulate concisely are like this..
During periods of overall predictable upwards market movement, it is good to have your capital in as profitable cryptocurrency, and conversely, during periods of overall market downturn, while it's decreasing in value, it is better to have your capital out of the markets and in a more stable currency.
When the overall markets are increasing in value, it is easier to see dollars growing, than when the markets are shrinking. During times of overall decreasing value, it is better to stay out of the markets mostly, and only go in just before a predictable rise in value, and it is easy to see capital rise in the number of cryptocurrency coins collected during these periods.
During the troughs, the doldrums, the times in the markets when the ups and downs are negligible and the market graphs look like they are drawing almost a straight line, during these times, not much trading is happening for me.
The more people and bots there are trading, the more volatile the markets are overall, though with the way a lot of these mega-bots operate, there emerge many predictable and sustained patterns throughout each trading day, and the more volatile the markets go, with the bigger swings from high to low values, the more opportunity there is for someone who is keen on watching and timing the markets to maximize profit.
Wanting to see and seeing are two different things, though your mind is powerful enough to make you forget so. It is possible to want something so much that it's all you can see, and this can happen with the markets easily, and a lot of the people who spit out jargon and quack like quackers every day about things that they really don't know about, they are mostly just trying to say things in a way that sounds good to get attention, and to sort of manifest their own reality and perspective, by saying words that they can then try to view reality from.
When coaching, one of the lessons I bring up is that if we can learn a lesson from an experience, it's not a wasted experience, and it's true. There is no need to waste an experience and end up with negative mental load from a situation that was temporary and is in the past. Yet, sometimes there are lessons that are learned through more deep, profound means, such as more intense pain, or sudden loss or disorientation, or simply a hard mental acknowledgement that there is wisdom for correction, and sometimes it would perhaps have been better to learn a lesson through forethought, or learning from someone else's mistakes, or from your own past mistakes, rather than having gone through the pain, loss, disorientation, or the difficult acknowledgements that come from unnecessary lessons.
We ought to have our perspective be from reality, and not trying to view our reality from some arcane perspective.
It is imperative to realize that there are some things which are temporary, and some things which last. The Word of God says that the only things which last are faith, hope, and charity. This charity is love. This kind of love is the kind of love that sees someone in need and invites them into your home and takes care of their needs. God has loved us with this love, and He has blessed us to be able to love others in this way, to look after others and see their needs.
When everything else falls away, what will be left?
When everyone else is gone, what kind of people will be around?
Those with faith, hope, and love will. To the end, we will love each other, and we will love all people.
If you have read any of my other posts that I have written here, when I'm talking about cryptocurrency, I want to always make people aware that I also believe that cryptocurrencies are going to disappear suddenly one day, and become inaccessible. Trading should be approached with money that is not necessary money for anything else, and money that won't hurt to lose, if one day it's suddenly gone.
Through one thing or another, I firmly believe that not only cryptocurrency will fail, but so too will the internet and many other layers of insulating comfortable technology that we rely on.
It's better to prepare beforehand, and think of things like where you will find and acquire clean water, and where other people will be going to do the same things.
Similarly, it's better to ensure that you are scraping out some of your profits from cryptocurrencies now, today, and every so often, to enjoy them while it lasts, because if you hold it all in there, attempting to maximize your profits by not spending any profits, then if your capital is in there when it all crashes, then you will have wasted all this time and not gotten to enjoy any of your profits. If you happen to withdraw all of your cryptocurrency into money before it crashes, then congratulations, you're the winner!
This is really a crazy game, a roller coaster of an algorithm, and a trap to put money into. I trade because I can multiply the plentiful resources which God has given me, and turn them into more resources. There are as many reasons to trade as there are people. There are many different ways to be successful, and many more ways to lose money in this economy.
In life, we can find many different realms and situations where things are uncertain or changing, and unreliable. People let us down. Organizations fail. Systems collapse. Conquerors conquer.
There is One Who is unchanging, Who never fails, and Who is reliable and trustworthy and His name is Jesus Christ. When this life is over, we will all meet Jesus Christ, and our eternity will depend on whether or not we trusted Him during this life or not.
There are many other good decisions to make in life, but until you settle this one thing, God's highest priority for your life is to show you your need for Him, and He says in His Word that He wins us with His kindness. God's patience is magnificently patient, and His mercies are new each day. When He gets ahold of someone's heart, He pursues us and reveals His love for us in a way that shows us that He will never leave us and that He will always love us. There is nobody else like this God. There is no other good decision like the decision to follow Jesus Christ, by believing on Him for salvation from our sins, by the forgiveness of our sins, by His sacrifice on the cross, where He laid down His life, and then after His body was dead for three days in the tomb, He rose from the dead and walked around this Earth for forty more days. Jesus then floated up to Heaven on a cloud and left us with His Word that He was going to prepare a place for us, and that He would return to take us to live with Him forever.
Being a Catholic doesn't make you Christian. Being a Baptist doesn't make you Christian. Being a child of a Pastor doesn't make you Christian. Sitting in a church pew every Sunday, singing all the songs, and going through all the motions doesn't make you a Christian.
Believing in Jesus Christ is what makes you more like Him, and that is Christian.
