12.8 Day 77
Capital 205u
Write a summary for this week
To summarize, this week all trades were opened according to the strategy, managed to hold back, no other trades were opened, no opportunities, just stood by with cash, no orders were filled, and I missed one signal. Below is the strategy backtest.
1. Strategy backtest:
①$degen 0.176 long position opened, reason: four-hour bottom divergence appeared, ultimately lost six points and hit stop loss.
Review: The market has not stabilized yet, rushed to enter, expected the market to drop. At that time, I actually wanted to place orders at 0.17 and 0.16 for the stop loss. Also, the indicator I selected wasn’t particularly ideal, as it was a new coin + bullish sentiment, but there have been no signals for two days, which made me a bit anxious. Fortunately, it was a light position, and in the end, I hit stop loss.
②$TROY 0.412 long position opened, reason: four-hour bottom divergence, previous selling pressure has almost dissipated, ultimately reaching 0.45 and quickly dropping, with a maximum profit of ten points.
Review: One point off from reaching the take-profit target 1, then was quickly pulled down by the market. However, observed that a 30-minute bearish signal appeared fifteen minutes before being pulled down. Next time, a 1-hour or 30-minute bearish signal or pin bar can be used as an exit basis.
③ uxlink, goat, 1000cat orders placed, reason: uxlink has four-hour divergence, the other two have eight-hour divergence, but orders are off by one point from being filled. Average profit of 14 points.
Review: The order point is still one point off. Initially expected the market to drop a bit, but it went straight up. Next time, I can provide a current price point or slightly adjust the order up.
④$grass 2.82 long position opened, grass showed four-hour and eight-hour bottom divergence, continuously issuing signals. Ultimately profited 17 points.
Grass made a double bottom W formation, the first signal was issued at eight. I wanted to enter, learned from the previous degen lesson, and when the market wasn't stable, entering resulted in a loss. After waiting until twelve, another signal appeared, and I entered after the downtrend stopped. Still need to wait for market stabilization and a pin bar to be a good entry point.
⑤ Santos, sorry I didn’t notice this in the morning, fan token, currently still rising, has increased by 17 points. Currently at the top of the gains list, so why every time I don't buy, it rises so sharply 😂
2. Entry point: Currently, my choice of entry point is first to see if there is a signal, and secondly to see a pin bar. Generally, seventy percent should have a pin bar; otherwise, it won't break and won't rise. When placing orders next time, you can place them higher. I've checked, every time the difference isn't much; you can place them higher. I generally calculate based on the market and previous highs. Entry points still need further study.
3. Take profit and stop loss: Stop loss control is okay, take profit is currently aimed at a one to two risk-reward ratio, stop loss six points, take profit twelve points, generally achievable. Can take profit most of the way, if I can watch the market, seeing a pin bar allows for taking profit most of the way, roughly like that. Cannot gauge the pattern now, as it may rise for a while then drop, reaching W bottom to the opening price, then after a day, it may spike.
4. This signal 📶 is not from any software I wrote, it’s just an alert function. When this indicator appears, it sends me a message. This can be set up on the trading software TradingView, and it's free. You need to learn it online; it’s impossible to teach everything, and it’s all about learning from videos. Currently, I still think it's best to focus on four-hour and eight-hour strategies, about four to five signals a week is about right. More than that is too much to handle. Ensuring stability and accuracy.
5. Familiarity with tokens: Found that these new coins are still a bit unreliable, with no support levels, and I'm not very familiar with the main points. For coins I've traded once, I basically understand the trend won't be a big issue, so sometimes for new coins, I can trade lightly at first, just like with that degen I also traded lightly. These coins with a few days of history have no historical K-lines to reference, so I will look at various coin trends to familiarize myself.
6. Capital and mindset: This week felt pretty good, everything is under control. I understand the point situation, know why I earn and lose. Although some may feel that dealing with all this is troublesome and that opening more positions to make money is more useful. But I still think it's important to clarify each trade; otherwise, it feels like gambling. "I feel it will rise," "I feel it will drop," but if it goes against you, there’s nothing you can do, right? Still need to follow the plan, aim with purpose, can't control others, just do well yourself. Once this plan is made, I have a clearer understanding, much better than last week, errors have been corrected, and capital has increased by 70u.
Finally: I hope everyone finds their own method, don’t just look here and there. Everyone's energy is limited, striving for perfection in one method is better. But also validating from multiple angles is good; validating from multiple angles successfully indicates high accuracy. Okay, end of this week 🔚
Do you have any suggestions? Feel free to share.
