“Buy low, sell high” is the most basic rule of trading and a typical banter among traders in all types of financial markets. Simple as it may sound, this rule is often violated because most traders would end up doing the exact opposite.
Here are 4 reasons why almost every trader would violate the basic rule of trading at some point in their life.
- Blindly follow free trade signals from strangers who eagerly share their charts but not their trade results.
- Actively take up short-term trades and hold a portfolio that is too diversified.
- Lack of time or know-how to plan a good entry and exit strategy.
- Don’t have the patience and discipline to follow through with their trade strategy.
If you get into trading thinking it would make you rich overnight, then you are sure to lose money quicker than you can imagine. Any successful trader who has learned the ropes from their success and failure would tell you that, “Trading is a marathon, not a sprint”.
While it is true that trading crypto assets can be very rewarding, the volatile crypto markets can also be extremely risky and with thousands of crypto assets to choose from, where does a trader even begin?
This is where we come in.
At CryptoEZ, we focus on a handful selection of crypto assets that have the strongest fundamentals and offer the highest probability of good investment returns over the long-term. Our premium forecasts function as a map and compass to guide our members through the sea of uncertainty. By helping our members gain better insights of the market trend, they can come up with a strategic trading plan that works best with their risk management and time horizon.
To give you an example of how our actual premium forecast would often look like, here is an Ethereum (ETH) chart that was taken from our past market forecast.
On April 17th, we shared the above forecast in our members’ area and explained to our members why we believed Ethereum was on the brink of a major upside breakout from the neckline area ($167), a key resistance level that was holding back the asset price at the time.
Aside from that, we also highlighted several important price levels in the chart, which include:
- Support Level – the price area of $150 where the asset would likely find buyers if it drops below the neckline, and;
- Targets – the price areas of $233 and $280 where the asset would most likely pullback from, in the event of an upside breakout.
Now let’s take a look at the second Ethereum chart below that was taken a month later, on May 19th.
Notice that after the asset price made it past the neckline resistance, the market rallied to our anticipated target levels?
While Ethereum stormed past our first target level at $233 without any pullback, exhaustion eventually caught up with the markets as the asset price immediately plunged 25% after topping out slightly above our second target level at $280, a key level that we had forecast a month earlier.
Our members who bought from the neckline breakout (entered a long trade position from $167) and sold at $280 have successfully increased their portfolio value by 68% in just a month’s time.
As a premium member, you can take advantage of our expertise and experience to gain a clearer perspective of the market you trade even when it is often uncertain and impossible to predict. Go premium now!