Will you enter a trade after a drop or wait?

[Bushdark]

Source: Coinmarketcap
My question is, are you going to enter a trade after seeing a drop or you will want to wait for the market to show you a clearer direction first before making a decision. There is something I noticed with bitcoin between today and last few days of the week. The price has been moving around and that reminded me how easily some traders jump into making a decision without properly analyzing it simply because they are afraid of missing out on the next move.

This your question somehow shows that you could be struggling with trading due to the way the price of Bitcoin has been moving which any sign of Bitcoin going bull or going bear. The price of Bitcoin has been consolidating for weeks and trying to trade the market currently need extra analysis in order to not end up in loses. Seeing a drop in price and trying to long the market can still lead to loses.

I have seen different occasion when price went down and I trying to buy but to notice that price continue to go down without any sign of going up. This is where trading analysis is very good before entering the market. Doing analysis can safe a trader from unforseen loses that is inevitable without an analysis.

[Jegileman]

This your question somehow shows that you could be struggling with trading due to the way the price of Bitcoin has been moving which any sign of Bitcoin going bull or going bear. The price of Bitcoin has been consolidating for weeks and trying to trade the market currently need extra analysis in order to not end up in loses. Seeing a drop in price and trying to long the market can still lead to loses.

Trading is such manner will only lead to permanent loss in the market. Trading without analysis is a wrong idea to be used to enter a trade in the market. If you’re fond of doing that, you’ll meet more losses than wins in your overall journey in the market and you may exit the market sooner. Traders also go to the extent of still waiting for confirmation before entering a trade, this is done in order to still confirm the direction the market will head to with the analysis they’ve done of the market. This doesn’t still guarantee a win trade always but has a more tendency of occurring than if you’re not confirming. The market will be there tomorrow but rushing your trades to catch buys or sell without analysis or extra confirmation, you’re only clicking buy and sell buttons in the market which will lead to account loss and eventually liquidation.

[Powerjumboo]

My question is, are you going to enter a trade after seeing a drop or you will want to wait for the market to show you a clearer direction first before making a decision.

When the market is down, it becomes very risky to enter the trade because it is not possible to accurately predict which direction the market will go at that time. Many people enter the trade when the market is at its lowest. They think that the market may rise very soon, but it turns out that their guess is not in their favor. The market falls further and they suffer losses. However, in my opinion, if someone enters the trade when the market is very down, then he should not use the entire amount of his money. Of course, he should keep some money in hand because if he has $500 to trade, then he can use $200 for trading and the remaining $300 for trading because then he can trade understanding the market situation.

[Wind_FURY]

There are many posters in BitcoinTalk who like "giving advice", but when you ask them if they're actually profitable "traders"  they ignore the question.

Sers, if you're not a good and profitable "trader", then don't give such advice like you're speaking from experience. We're mere PLEBS. We merely need to HODL Bitcoin.