Today's order is the best order I have made since I entered the cryptocurrency circle in May. First of all, I overcame my fear, stabilized my mentality in the previous continuous losses, and bravely believed in my own judgment (after watching the market, I found that 60,000 was the pressure point. At that time, I considered shorting with a stop loss of 60,000 and a take profit of 58,000 if it fell below 59,000. If it rose above 60,000, I would go long with a stop loss of 59,000 and a take profit of 62,000.) When I entered the market at 60,000, I was a little scared when the market began to fall, but I still believed in my system and did not operate blindly. Finally, I made a profit.
Before this order, I felt like a newbie who knew nothing about contracts and had many fatal shortcomings:
1. I didn’t know the contract fees were so high (because I always use high leverage)
So basically, the return rate of each order must reach about 10% to be considered a payback. The system at that time was to take profit at any price when the return rate reached 30%, and stop loss at -20%. After a period of time, there were more losses than wins, and even if the position record added up to a profit, the actual position was a loss. (Because Binance's handling fee is not so intuitive)
2. Like to trade frequently.
As soon as the previous order was completed, I would immediately proceed to the next order without reviewing it in time. Because of the handling fees and the fact that I lost more than I won, this habit caused me great losses.
3. Not truly recognizing the risks of each order from the bottom of your heart.
Although I have a take-profit point and a stop-loss point for each order, I am still anxious every time I have a floating loss. This mentality has distorted my operations several times and led to several unnecessary losses.
4. Failure to find the market's pressure point, and trading at other price levels where no trend has formed.
Because if you want to judge the high probability trend of the market, you can't judge it by the comments of other people in the market. You have to find the corresponding pressure point by watching the market, and then judge the trend according to whether it breaks upward or downward at that time. (Of course, the trend I am talking about is that the probability of one side appearing is higher than the other side, not necessarily. Losses are allowed. I hope everyone realizes this. There is no system in the world that can achieve no losses.)
At present, I predict that the pressure level is 65,000 (just a prediction, the reason is that people in the market, even the officials are very sensitive to the price of 65,000).
If the market has an upward trend but cannot break through (meaning the price is close to 65,000 but cannot break through), then short sell at 64,000 with a stop loss at 65,000 and a take profit at 63,000.
If the market breaks through 65,000, go long directly at the price near it. Take profit at 68,000 and stop loss at 64,000.
I will send it out as soon as the order is placed. I hope that all the newbies in contracts can learn from my experience and avoid some detours. The road of trading is so lonely, I hope we can go on together.
(At present, I feel that 63200 seems to be a pressure point, but the time is too short to be sure. If I confirm it after observation, I may also operate near it.)
