No Conviction

Some tools and some strategies work great in certain market environments but terribly in others.

The range can include the following: looking for bearish breadth divergences at the start of bull markets; using a long-term moving average as an entry in a sideways market environment; or even something as fundamental as deciding how to approach tactical trading opportunities.

In the case of today's crypto market, a big mistake would be to directionally trade Bitcoin when no real direction has been ascertained.