What Is Your Place In The Market?

G'day ladies and gentlemen, welcome to the Trader Cobb Crypto podcast. Well, it's the start of a brand new week for markets. And in this particular episode, I just wanna go through, you probably noticed that we're not doing as many podcasts of late, but we are going into a little bit of, well I am going into a little bit more detail on the, you know, just little

lessons and pointers that I'm hoping that the lesson is of the show, able to pick up on, to make them think is a lot of what we do here at Trader Cobb. Of course, it's about teaching and sharing perspectives and sharing our strategy and our knowledge and providing you with the opportunity to opt into, you know, get the full gambit of all that we offer without

trading and community and whatnot. But the other side of it is for those that haven't committed to their trading journey and, you know, doing my course and whatnot. That's absolutely fine. I still want to bring you snippets that is of value to you, to you and hopefully you'll get something out of this one. And today I wanted to discuss a place in the market. Of course,

I will go through the top 10 and do all of that as I always do on the shows. And yeah, it really got me thinking over the weekend as, you know, I spoke last week and said, okay, Bitcoin's looking a little bit shaky as in, you know, we had seen the run up, which was, you know, face melting. It was a 50-odd percent run up. And

then, you know, the last two or three weeks, we've really slowed down sort of sitting between, I know, 22.5 and, you know, about 24,000 peaking at 24.274 on the second of February last week. So it's been in a bit of a range. It's been up. It's been down. It's been all over. But now we've got diversion to start and it come into the chart. And we

are now on, we've had four consecutive days of selling, starting the second Feb down 1% on that day, the next day, but down 0.23, then down half a percent yesterday closing down 1.64%. So we are starting to see a little bit of a sell-off happening here. And this is the time where generally people start to question themselves. We're asked themselves these questions, which is, should I

take some profit? And as I spoke to last week, it'll be very interesting to see how I'm going to be able to see how I'm going to be able to see what I'm going to do. Now this most recent rally in Bitcoin holds. And if indeed it holds at all. And the reason I say if it holds at all is, again, coming back to last week's

show, you know, bottom line is this have people just taken, you know, the people that were buying or dollar costs averaging through the months of, let's say, November through to early Jan, you know, before the 10th anyone who is dollar costs averaging throughout that period will most likely will definitely leave their dollar cost averaging into Bitcoin or Ethereum or any number of the top 10 will

be in some pretty darn good profit. As I said, you know, from the, the, it was a 54% run up. So even if you're in say 30, 40% of profit, that's a very, very good profit. And also to add to that over a very short space of time. So this is where the question start to come in. The question start to come in as, oh, geez,

is Bitcoin going to fall? Are we going to see new lows? This year in this, what has been a very strong bear market? I mean, the whole of 2022 was essentially a bear market will 2023 set new lows. This is a question that none of us have the answers to. So how do we navigate that if we don't have the answers that we are in the

market, we got to start to think about some of the options that we've got. And I speak of this a lot in my courses a lot in pretty much all of my content. And that is what is the least worst case scenario. So let's say that, you know, you've been through out that November to January, early January period and you are in some good profit. But

just on those positions, you might have been holding other positions that have been down significantly. Well, how do we split that up? And how do we manage our own psychology as we come into what could become an uncertain period? And I know that as soon as the market starts to fall, especially after a very big run, there is a lot of noise out there on social

media or a bit of going to do this and Bitcoin's going to do that. Typically, I avoid that. I always avoid that noise. I also avoid when people say, oh, here's a repeated pattern. This is lighted out of that. Because at the end of the day, just because it's done in the past, doesn't mean it's going to do it exactly the same. And it's very easy

with hindsight to be able to find something that fits your narrative as to what message you're trying to get across. And I really try not to do that. I do look at history. I do present that forward to give thoughts and ideas in my perspectives. But there's never a solid object. This is what's going to happen type thing. I just don't think there's any amount of

certainty like that in the market. The only certainty I bring to the market is the certainty that I will be trading, checklist systems, and that's about it. So I invest for long term, the dollar cost averaging that you did throughout. I'm speaking to those that would dollar cost averaging through that period that are now in profit. We're buying just for a 30, 40, maybe 25% run.

If that's the case, execute, take some profits or take all of your profit. That's a lot to you to do. Well, you're buying at those levels, waiting for the next potential, very strong bull run for which we take out the all time highs. And we set new all time highs for a considerable period of time, like we saw in or throughout 2017 and like we saw

throughout 2020 and 21. Or, you know, you got to think your entry points, your entry point. What's your exit point? And this is why trading and for those that are not traders. I know I hear it all the time. I don't trade because I'm an investor and I just hold a hoddle. Well, that's fine. I got no beef with hodlers. I mean, look, I'm a hodler

to a certain extent as well with my investments. Sometimes people are forced to be hodlers because I don't want to take the hit from the eyes that they had. The thing is, is that without a plan, you'll always be a hodler and you'll never actually benefit your life and, you know, make things and perhaps a little bit easier or buy that new car or give that

money to charity or whatever it may be that are your goal set, your set of goals. So, I don't have a plan in place and that's why with trading, we always have a plan for the trade trade, your plan and plan your, so plan your trade and trade your plan. Now, for those investors out there that tell me, oh, I don't need to do trading or

I don't want to because I'm an investor. I get that. You don't have to go on trade. What would be very, very valuable is to start to take some of the elements and strengths of a trader and apply that to your own investing. Man, the amount of times that I've heard stories of seeing people that tell me, oh man, I'm down 80% of my portfolio. Well,

you didn't need to be. You know, you can be down 80% on whatever you decided to hold on to, but we should always be looking to lock in our profits. The question is, are you someone who's looking for the big game long term? If that's the case, you won't be selling now. Or was your plan to get in and look for a quick profit and then

get out. The conundrum that many people will face is that they never planned anything in the first place. They would just dollar cost averaging into the market without any real structure or plan or exit strategy. And that's when the emotion start to come in. That's when the questions of what we're doing starts to come in. It's when we see our portfolio up a certain amount. And

then we see a few days like we've just seen four days in a row, as I say, I've clawing its way back down and we start to panic. We start to get worried is Bitcoin going to fall? Is my portfolio going to fall? And the memories of, you know, 2022 and other bear markets that we've been through start to flood back and cause pain for the

individual. So it's having a plan of where you're getting in and why you're getting in at that level. If your plan was to dollar cost average in and hold to the next all time high, stick to that plan. Don't question yourself. Leave it as it is. If your plan was to get in and take a quick profit over time, or perhaps take some profit. If you

put, say $10,000 into Bitcoin as an example, now it's worth say 15 as an example, then maybe take the five off the top. Now you've only got exposure of five in the market because you've scaled out half of your position. You've minimized your risk from 10,000, which was your initial capital that you put in. Now you are down to having only five at risk while still

holding $10,000 of Bitcoin. But again, like I say, the point for planning is not post the position. The point for planning is not post position. That's a very difficult one to say. You've got to plan your trade first and then execute that. So if you are in that position where you are questioning things and you are slightly concerned, typically people get concerned when they haven't taken

profits because the position still has, well, all the risk on. It's called risk on when you have not taken any profits. And that's why when we're trading, although I don't always do this, the conditions are very, very good. Sometimes I won't scale out at one to one. I will look for a bigger move there. But most of the time, and certainly what I teach to my

students, especially those that are new to the market, is to scale out at one to one, which means that your exposure, if the position comes back and hits your stop loss, is nil. That way your psychology is in check. You can go hunting for new trades without knowing that you've got risk on on that particular market. So I don't have an answer for you as to

what you could do if you aren't asking yourself these questions. What I've tried to produce here is a number of different scenarios for which you can consider to get yourself some clarity to ease that tension and to just know that you're comfortable in the decisions that you've made because you've made them for whatever the reason may be. Stick to that plan. Don't just have it in

your head either. Write it down. Write it down. When we're trading and I'm teaching people, the course always suggests that take trading and then you can go back and review and refresh. Because I work from a checklist system, literally ticking boxes, it's very easy to go back through after the trade has been completed. So you can go through and have I missed anything here? Have I

executed this trade flawlessly? Because a trader is not defined by his profits. He's all her profits. I mean, obviously that is part of the game. But ultimately, you can have profits right away from day one without doing any education, without having any experience. It doesn't mean you're going to have longevity as a trader or as an investor, in fact. So having that ability to improve, but

having a road map for what you should be doing and comparing it to what you have done in the past will point out some of the flaws that you need to work on. So I hope that finds your well. Now we'll go into the top 10 and talk about the state of our markets coming into a fresh new week on the 6th of February. Okay. So

as I said yesterday, Bitcoin was down 1.3%. 6.4% and it's the first time in four weeks that we have seen a red or seller candle on Bitcoin. It's still on a weekly uptrend. Last week, we did close the weekly down 3.42%. And although it's not a great deal, it's still down. All right. Which is fine. As I say, the weekly is an uptrend, the moving averages

are in the correct order for my trading style. The 10 above the 20 period moving average and a pool back. I did mention it last week. I'm not sure if it could be on the cards now as far as looking for short. Sure. I can be looking for short because when I go down to the four hour, we do, in fact, have a four hour downtrend

here on Bitcoin. For me, if I was to get a position, the two things that I would need to weigh up whether to be on Bitcoin or any other markets out there right now is that our daily Bitcoin chart is still very much in a consolidation. We have not broken down through anything of significance. The uptrend is still in play. Sure. It's slowing. Sure. There's daily

divergence there. But currently, we do not have any real strength to the downside. So if you are to take a short position, you need to understand this. Number one, your short position is going to be carrying, you know, the potential for a very good profit. If the market does decide to capitulate and go, and head south. So there's a potential for very good profits around these

times. If the market does have the bottom fall out of it, the other side of it is what if we just consolidate sideways for some time, you're going to be in a position with your role of a cost each and every day. Now whilst this should not stop, you're from trading or deter you in any way, shape or form as long as you're managing your risk

and trading your trading plan, it is something to be aware of. The potential for upside, if the market falls hard, it's very, very good. Because it has had a very strong move to the upside. If I go sideways, now it's going to be a bit boring. You can always wait for confirmation or take a position with some managed risk and just see how you go with

that with the stop loss in place. You're only going to lose 1% maximum if you're following my rules. So on from Bitcoin at 22,000, 190, currently down 0.17% right now today on to Ethereum, which last week saw a decline, not much though, only down 1%. It closed the week. It's $1628 still finding resistance around that $1680 market that I've spoken of a little bit. The daily

however, look, it looks a little bit stronger than Bitcoin in the sense of the trend's acplicity on that daily, but we cannot and will not discount the fact that there is resistance. At $1680 currently, we are sitting currently down 0.2% at $1625. From there we go into Binance. And Binance daily has, look, it did quite well. The back end of last week actually, it pushed on

quite nicely to continue that trend running to the upside. We have seen two days of selling yesterday down 0.82% so far today, down 0.9% sitting at $325 and 20%. But in other news, the weekly did close up for Binance last week at up 3.4%. Interesting to see what happens here with Binance given we don't have a weekly uptrend or downtrend. The best trend that I'm seeing

right now on Binance is probably the 12 hour. It smooths things out quite nicely, down 0.8%. XRP closed down yesterday to 3%. Sitting at $0.39, down 0.35% of a% today, a very ugly looking chart to be honest on the daily, very much in a consolidation, the lows of $38.5, if taken out on the daily, will put XRP into a daily downtrend. The weekly last week, 4XRP

did close down down 3.5%, just a tad more than that. Yes, so that we saw a doge sell off 3.8% today, sitting at 0.9.1%, down 0.3% today. 0.6% of a percentage point last week, doge interestingly did close up up 2.22% again, not a very pretty chart. The daily did have a bit of a trend going. It's not looking all that crash shot again. We need some

momentum to come into our market as a whole. On the card, Darno, next, which closed down 1.74% it did actually hit a low of 38.2% before closing at 39.2% so a pretty decent little bounce there. Today, it's been a bit volatile. It's short up. The last few hours, and then it has since come back. We are flat for the day at 39.2%, and last week, it

did close down, but only down 1.3% after 4 weeks of moving higher there for Cardano. Next up is Maddick, which does in fact have probably one of the better daily up trends in our top 10 at the current time. Yesterday, selling off down 4% currently today, down 0.3%. Of a percentage, $1.19 last week. In fact, having a green candle up 2.2% there for Maddick. Not a

bad looking trend on the daily, but it is divergent. It's not all that strong. I've got to be honest. It's up half a percentage today, which makes the leader to the upside for our top 10. It's sitting at $6.66. And last week, look, it closed up, but only just up 0.4% of a percentage. That being said, it's the fifth week of green for dot from dot

2. Solana. It's down 0.3% today. $23.39 yesterday closing down. 3.5% of very sideways chart at the moment after a very strong run up. Now this pullback that we've seen last week on Solana ended up being 10% to the downside. Keep in mind, however, that it was only what 1, 2, 3, 4, 5, 6 weeks ago. That we were down around $8. So from the low to

the high, it's managed to climb 240% to pretty much get close to regaining where it was prior to the Alameda debacle. It's sitting at $23.38 right now. And if it does start to slide, it will be one that I'll be very interested in shorting given the size of the run it has recently had. 23.38 for Solana. Rapping up our top 10. Oh, we go to Shiba.

Sorry about that. I think it's in order to Shiba, which, well, look at how to bring it Friday up 15.5%. A massive leader. I'm not quite sure why the dog coins have come back, but hey, hey, Shiba Inu has certainly done that. It's up 0.6% today, which is now surpassed dot as the best performer. And last week, well, last week was a doozy. It is its

fifth week in a row up. And it closed up 18.3%. So that is the podcast for today brought to you by yours, Shirley Craig Cobb, founder of Trader Cobb.com. And look, I really want your help. I would like to ask for your help. If you have got this far through this episode, I'm going to ask you one thing. If you haven't gone to register for our

become a trader course, totally free on the Trader Cobb.com website. You've also got free access to the discord group. If you haven't done that, if you haven't done that and you know, you're in the markets. Please, do me a favor. Go and sign up for it. It is obligation free. There is no over a certain period. Then you pay, no. If you decide that you want

to do more, you do more. But for now, all I'm asking is that you get the knowledge that you need to prepare you for either the next bear market or bull market. It is going to improve your trading and overall understanding of markets. And it is going to be a value. Now, if you are somebody who has done to become a trader course or to become

a master course, which is the full three strategies, of course, then I'm just going to ask you out right. I do a lot for you guys are free. I do as much as I can to provide you with understanding of this market, my expertise and interviewing people and so on and so forth. And I've done this full free without being paid for any interview for five

years. All I'm asking is you see if you can get a couple of mates on to that become a trader course. So they'll have the slack support there. So not slack discord support that is also associated full free with our program. And it would mean the world to me. We need to get more people inside our front door. And I thought, you know what, I've been

a pretty good guy over the years. I hope so anyway. It's certainly haven't done anything on purpose. And if you like what we're about, I am asking speak to your mates at Smoker. Let him know. Let him know about it. Speak to your office buddy. Speak to your family. Whatever it may be. But give us a bit of a good wrap and get him on to

become a trader course. All they have to do is go to tradeocob.com. And it's there. Available to all for free. Have a great day and I'll speak to you again throughout the week. I hope you well and bye for now.