Share your trading experience throughout February!

I have 7-8 years of experience from futures to foreign exchange margin. Until January, a friend recommended $BTC to me, saying that he made more than 500,000 U this month and suddenly became rich. So I became interested and entered the currency circle.

To be honest, I had gone through many twists and turns before and had several positions blown out! I thought that the trading experience I had accumulated before was enough for me to master the actual risk control, and then I overestimated myself. I started a cooling-off period for a week to reflect on my mistakes and then enter the market again.

I will probably list a few fatal mistakes!

1. Overconfidence in one’s own trading skills

2. Following the chain effect caused by the first point above, when the leverage is full and the position is full,

3. After setting the stop loss and taking the loss, you are eager to enter the market and the principal drops rapidly.

After two cooling-off periods, the pie had been blowing out for a while. At that time, it had been hovering between 50,500 and 53,000 for 12 days. During this period, I had been waiting and watching. It could not go down or go up. After all, it was a bull market, so I decided Waiting for the opportunity to go long, the last trial order was at 50981 and I also found a few altcoins to enter the market. I won’t say more about it later. After the trial order is successful, the capital and profit will be guaranteed.

However, yesterday there was a huge amount of altcoins in the pie, and they followed suit. Fortunately, there was a guarantee, otherwise the position would have been liquidated. However, the cost of the pie was relatively low and it was not swept out. Later, there was a manual profit stop and anti-short movement (the reason was that the big players wanted to promote Bitcoin. How can a rise bring a lot of people on board?) What’s more, in March every year, the market mostly falls, so I decided to go long and go short. I don’t dare to guess where the correction will be. A conservative one is 58,000, and a pessimistic one is 48,000~50,000. In short, the market will be very different after April. Well, if you can, take advantage of the opportunity for a pullback!

Summary: It is normal to suffer losses when trying orders. You must have the discipline to spend 10% or 5% of the principal each time you enter the market according to your own tolerance (every time the leverage is fully opened, sooner or later the position will be liquidated). If you lose money in one day No more than 30% of the principal. If you fail every time, there must be something wrong with your strategy or you are simply betting on dogs!

Real traders will wait for opportunities before taking action. What is an opportunity? (Your most profitable pattern) may be left, right, moving average, news, K-bar pattern, etc.

Although I am a swing type, my winning rate is low, but when the bull market or bear market comes, I can always win from the beginning to the end. It is purely a personal trading sharing. It has nothing to do with me if you have opinions. Trading requires a good mentality [mind is not as good as technique] mentality. I don't think your deal will be any better.

Playing contracts in the currency circle can indeed double your assets, but on the contrary, failure to do a good job in risk control can also make your assets return to zero overnight.

#WIF #ORDI #DOGE