I bought some bitcoin a few years ago at about $440.- and kind of had forgotten about it since as I only had been interested in digital currencies as a possible alternative payment method here at Evil Speculator. However after some research into the space I discarded the idea for two reasons: For one should BTC ever fail then switching recurring subs back to the old greenback would be problematic. And second the gyrations even back then made my head spin and I didn’t consider it ready for prime time.
Over the past few sessions a situation has arisen which effectively puts us at the edge of the abyss on two separate but related fronts: U.S. equities and the Dollar. While the mainstream media is once again entangled in a furious clickbait initiative courtesy of our favorite East Asian bad-boy Kim Jong Un, I’m more concerned about what I’m seeing on my comparatively boring technical charts. Not to milk every doomsday metaphor I can think of but the storm that’s brewing here could have serious medium to long term consequences. So let’s observe the potential damage as well as consider opportunities for leveraging the situation:
One tough lesson we all wind up learning during our time as traders, professional or otherwise, is that being right means nothing and being profitable means everything. Now that statement does not give you license to simply follow your whims as long as you wind up being profitable in the end. Instead the point I’m making is that you can be right but still wind up losing, especially when Ms. Market decides to turn into bitch mode. Did that sink in? It should because there are important implications:
To make sure you guys aren’t getting bored I decided to repost some timeless favorites from our Evil Speculator archives. Clearly the fight against information overload never ceases and is becoming more prevalent as the world is becoming more connected every day. As traders we need to give special attention to not only what information we expose ourselves to but also how much of it (good or bad) we let in every day.