Principles of Trading
Wow,
I done fucked up.
I got burned out in a bull run.
How?
1. Obviously, I got emotional. Way too emotional. I Fomo’d in. I knew better than that but I let my emotions get the most of me. It was the damn top of the market. Since, the price has ticked down 2K. I am taking a long time out to ensure I follow the principles I laid out before.
2. I didn’t step into the market. This is what I did. 25X 1BTC Market. During a frenzy.
3. I didn’t watch the indicators. I just dove.
4. Emotion is what got the best of me on this trade
TOTAL LOSS: 1BTC May 11th, 2019.
Trade checklist.
1. When entering a trade. Only enter with 1/10th of planned position. The reason you are doing this is so that you can find the bottom.
2. Wait 45 minute intervals before entering next planned position. The reason you are doing this is because you got liquidated after 45 minutes on the trade. After 45 minutes. Enter .1 and wait 45 minutes again to see if you should enter again.
3. Not only should your indicators on trading view be inline, There should be heavy selling pressure followed by constant buying pressure before entering a trade.
4. News and trends should all be positive
5. Most importantly DAILY SRSI should be over sold and inline with 4 HOURLY
6. Don’t fuck up again.
Next planned position. BET 1BTC. Step into .1 at a time.
Wow,
I done fucked up.
I got burned out in a bull run.
How?
1. Obviously, I got emotional. Way too emotional. I Fomo’d in. I knew better than that but I let my emotions get the most of me. It was the damn top of the market. Since, the price has ticked down 2K. I am taking a long time out to ensure I follow the principles I laid out before.
2. I didn’t step into the market. This is what I did. 25X 1BTC Market. During a frenzy.
3. I didn’t watch the indicators. I just dove.
4. Emotion is what got the best of me on this trade
TOTAL LOSS: 1BTC May 11th, 2019.
Trade checklist.
1. When entering a trade. Only enter with 1/10th of planned position. The reason you are doing this is so that you can find the bottom.
2. Wait 45 minute intervals before entering next planned position. The reason you are doing this is because you got liquidated after 45 minutes on the trade. After 45 minutes. Enter .1 and wait 45 minutes again to see if you should enter again.
3. Not only should your indicators on trading view be inline, There should be heavy selling pressure followed by constant buying pressure before entering a trade.
4. News and trends should all be positive
5. Most importantly DAILY SRSI should be over sold and inline with 4 HOURLY
6. Don’t fuck up again.
Next planned position. BET 1BTC. Step into .1 at a time.
Note
Correction, 200, not 2K.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.