In an asset class where 80% drawdowns are a regular occurrence, it goes without saying you need to manage your damn risk.
By simply identifying a level where you get out of the trade, you are at a substantial competitive advantage, in this asset class more than any other.
There should be no shame in flipping your approach as new data comes in. At our shop, we pride ourselves on it.
But to the crypto junkies and laser eyes crowd, that'll get you called a "FUD'ster" or "paper hands".
Don't listen to these people.
They're truly worse than the gold bugs and permabears. They don't deserve your attention.
With any market, not just crypto, our primary goal is to make money. And to do that, in more cases than not, we have to play defense. It's what we're doing in stocks right now - it's just a regular part of putting money to work.
As for us, we've been bullish Bitcoin, and have been riding many coins higher.
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