I find Altus's latest Tron post https://steemit.com/tron/@altus/tron-trx-analysis-the-rise-will-begin-soon to be very interesting. I don't know much about Elliot Waves, et al., but this is compelling! Go to Binance, select the 1 day view on the ticker, and see for yourself the trend Altus is pointing out.
The reason this matters is that FOMO has more influence the less knowledge you have. If movement up or down on the ticker can be seen through the lens of normality rather than as tragic turns missed, then we can make informed decisions rather than emotional ones.
Years ago I worked at a bag making factory (Cryovac) that made heavy-duty meatpacking bags. The process there was greatly affected by a mann named Demming and his four part approach to management:
PLAN: plan ahead for change. Analyze and predict the results.
DO: execute the plan, taking small steps in controlled circumstances.
STUDY: check, study the results.
ACT: take action to standardize or improve the process. Here's an article explaining that.
https://www.isixsigma.com/dictionary/deming-cycle-pdca/
In any case, the gist of it for us was this:
Set-up your system,
Observe it,
Check it,
Make small adjustments, etc.
But the philosophical point was that we needed to understand the nature of the systems we were working with. There was a certain level, or number if you will, that was an optimal measurement, but the machines would rise above that level and fall below it on a regular basis, like a wave. This was normal. When the numbers or specs varied too much, an adjustment could be made---but a measured one. I think some of the same logic can help with trading.