It’s interesting that the bear market is in the air right now in the crypto market, while Bitcoin is trading over $60k. To me, this is bullish news… retail interest is low, people are getting shaken out of the market, but BTC is strong on the higher timeframes.
For those of you who have only been into crypto, especially trading, in the past 6 months, you may be panicking or just realizing that not every trade is going to generate a 5%, 10%, or 15% gain! Those of us who have been through the bear market have seen worse than this past week!
You probably realize now why I am like a broken record when it comes to "risk management". You will not win every trade. We have to accept that. Yes, there are many times when we win 25 or 30 times in a row, but that is not guaranteed. In such cases, the chances of a stop loss being hit are higher and the chances of a stop loss being hit are higher.
Trading is like a football game. You won't win every game, what matters is where you are at the end of the season. You won't win every trade, what matters is where you are during the year.
Stick to risking 2-3% of your account per trade and you will be able to get to the next round. If you ignore this and over-leverage, you may not be able to get to the next round.
In these difficult times, if we outperform Bitcoin, then we are doing well. So far this week, I closed APT at a -1% loss, closed ETH at a small profit, but basically broke even, and BTC is currently in profit after DCA. So effectively no gains, no losses. This was my slowest week in months... Bitcoin is 4% below the weekly open.
Anyone who is uncomfortable reaching SL or even breaking even is most likely over-leveraged. Or they just have a short-term mindset. Too many people want instant success - a very common human trait that eats away at traders. Trust me, in this game, short-term thinking means you can only survive in the short term. Long-term thinking is a key requirement for long-term successful traders.
I'm sorry to write this post but in my opinion this is a very important information that can help everyone. $BTC $ETH
