31st Oct 2008: Bitcoin's whitepaper was published.

31st Oct 2020: It hit $14000 per coin.

It's still not dead.

Not really. Even pros get it wrong sometimes, but not too often like Mnadii. Mnadii's calls are too erroneous to be traded profitably. His win-rate is unacceptably low and his risk-reward is mediocre at best. I may have exited early, I admit. But I didn't go short and proceed to lose money. I am always long or square but never short in a bull market.

That being said, I still wouldn't hop back in at current prices of $13,700 (as a short term trader). Getting in at current prices would only make sense to an investor looking to hold long term and probably take a bath or average down in the interim. In the short term, the risk of getting in right now isn't worth the potential reward and those buying at current prices for short term speculation will probably get roasted.

Everything points towards institutional buying on a massive scale. That's why only BTC is pumping as alts remain in the blood basement. The smart money is getting in en masse.

Will you buy at 15k?? You're a braver man than I

yikes, this run seems crazy, it's now knocking at 16k! spot volumes on binance are at record high. the fall of bitmex perhaps has given us the bull market we have been waiting for :D

Altseason is back. All my bags are squarely in the green. I'm glad that I went for the jugular

The herd will join us fully in a few weeks. We will need people to sell the heavy bags to. Rinse and repeat with professional risk management.

this next rally will be truly parabolic. the golden one! get in the right shitcoin and you can retire once it blasts off. achana na mambo ya kujenga ma bedsitters for rentals!

BTC will be at 19k soon. Yikes this pump is something else. vertical! sad i got caught flat footed. deep in the alts basement.. RED

I'm net up but the pullbacks ain't no joke, even with proper risk management. The next leg up is inbound. The long green candles are back.

It is a delicate balance. That's why as a professional trader, you have to manage risk. The idea is pretty straightforward. You have a series of winners and losers, but the winners are large enough to pay for the losers and leave a massive profit. That's how professional trading works. A pro must have an all inclusive strategy.

- The strategy must have a statistical edge. Most retail traders don't even have a strategy let alone an edge. They just buy and cross their fingers.

- The strategy must have a reasonable win rate that is psychologically survivable. Anything around 50% win rate is acceptable. A strategy can be extremely profitable but with a very low win-rate. That makes it psychologically challenging to implement because you just have to miss one big trade and go through another long run of losers.

- The risk-reward must make mathematical sense e.g risking 1R to make 3R. The whole point of trading is making more money when you are right and losing less when you are wrong. Taking small managed losses is part of the game.

- You must size correctly. No professional trader will go all in on black and hope for the best. You can use Kelly's Criterion to determine how to size your positions. You can have a strategy with a statistical edge, but if you size incorrectly (too big), you might experience a very large drawdown from a bad streak e.g five losers in a row. On the other hand, if you size too small, you will take forever to make a meaningful return. You size too big, you blow the account, you size too small, you make peanuts. You must know the optimum size that prevents large drawdowns and gives reasonable returns. If you are careless enough to lose 33% of your bankroll in any way, you will need to make 50% profit to get back to break even. There reaches a point where the odds of ever recouping that money are extremely low.

Those are just the basics for professional traders. There is some level of mathematics involved in trading professionally.

Back to your observation, I bought SNX cheaply and I'm still riding that position. I'm net up 27%. Exited RSR yesterday net up 50%. Still riding Sushi net up 22%. Riding Uniswap net up 4%. Exited Band with a loss of about 6% twice i.e the coin burned me twice. Also Exited RLC with a 7% loss. All that in less than a week!! My winners far outweigh my losers so its all good.

In trading, you need to have a thick skin like a rhino to survive the pullbacks and stick to your guns. But the hustle is worth it when you look and find several thousands (USD) in your PNL when targets are met.