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INTERVIEW: Inmortalcrypto
Inmortal has been a crypto trader and investor since 2018.
“I understood that to be a better trader, I had to change things that had nothing to do with trading.”
JIM: TRUST YOURSELF
CT is generally a cesspool of exaggerated emotional takes at bad prices.
It can be difficult sometimes to see big and small accounts celebrating higher prices as if they hold generational entries printing money.
But honestly, I think 90% of people bull posting aren’t even in positions, or are late and are pushing their bias onto you in order to validate their own decisions at bad prices, such as buying at HTF resistance.
The reality is that we have barely done anything for two weeks other than chop to death those holding a strong directional bias.
Don’t let these sensationalist takes make you feel bad about missing anything.
Catching a bottom entry and holding until now, if you are honest with yourself, is a rare occurrence that is difficult to execute and hold with conviction, especially in this uncertain environment.
Don’t feel too hard on yourselves. I have seen only a handful of people execute that trade out of the many bull posts I’ve seen, so keep that in mind.
Most people here aren’t traders; let’s face it. It’s a loose term here, and most are more hopeful of catching one good entry and riding it with as little management as possible, yet call it trading.
Ignore these people. They won’t help you. Focus on your own thoughts and ideas and execute them.
If you don’t have the confidence and conviction to execute your own ideas, try trading with insignificant amounts, as confidence and conviction in yourself is something you have to nurture and build.
You haven’t missed anything, friends. There is always a trade, never dwell and keep looking forward.
-Jim
JELLE: BOLLINGER BANDS
This article first appeared as a Twitter thread. Thanks to @cryptojelleNL for allowing us to share here.
One of the more straightforward tools to use, Bollinger Bands is a solid addition to your toolbox.
Bollinger Bands are a volatility indicator that can also tell you whether an asset is overbought or oversold. With a 20-day moving average and standard deviations, it creates a certain bandwith around price that expands and narrows as volatility comes and goes.
Most traders use the standard configuration, where the upper and lower bands are a twice multiplied standard deviation away from the moving average.
Bollinger Bands can be used for two purposes:
Overbought and Oversold: Generally speaking, the market is overbought as it trades at the upper limit of the Bollinger Band, and oversold at the lower limits. One can expect a reversal towards the moving average.
Volatility Expectations The Bollinger bands expand with volatility and contract without it. Some traders like to countertrade this information, where wide Bollinger bands signal incoming consolidation and tighter bands would signal a violent move is coming soon.
As with most indicators, Bollinger Bands do not provide much insight when used on its own. However, when combining it with other indicators that provide more directional insight, it can work quite well.