When trading futures pairs, ZOOM OUT!
I started trading NEO perpetual futures ( BINANCE:NEOUSDTPERP ) mid to late 2020 IIRC. Binance only had so much history on the trading pair. The "start" price for the coin was $25 and I started trading this pair around the $4 to $5 range. I got comfortable with the pair at the low time frames, I never really looked above 4 hour.
I remember when the price reached $19 - $26 range. I'd made decent returns scalping and swing trading at this range. Looking back, I some how shut out the idea that the coin would go any higher, I'd made my money, time to move on to another coin.
I wasn't buying spot in these days, at least outside of BTC and ETH, so the thought of holding never crossed my mind.
I wonder if i'd had the sense to look at NEOUSDT to see the true price history relative to current prices if I'd have a different perspective on NEO.
TLDR; I was a futures scalper, I made some gainz, but futures price action history (on your exchange) starts when the coin gets listed there. that "starting" point on that chart could be a high or a low for this coin. ZOOM OUT! Find an exchange that lists the _full_ coin's price history before you convince yourself the coin has reached its max potential.
Not financial advice.
I remember when the price reached $19 - $26 range. I'd made decent returns scalping and swing trading at this range. Looking back, I some how shut out the idea that the coin would go any higher, I'd made my money, time to move on to another coin.
I wasn't buying spot in these days, at least outside of BTC and ETH, so the thought of holding never crossed my mind.
I wonder if i'd had the sense to look at NEOUSDT to see the true price history relative to current prices if I'd have a different perspective on NEO.
TLDR; I was a futures scalper, I made some gainz, but futures price action history (on your exchange) starts when the coin gets listed there. that "starting" point on that chart could be a high or a low for this coin. ZOOM OUT! Find an exchange that lists the _full_ coin's price history before you convince yourself the coin has reached its max potential.
Not financial advice.
