This is a common mistake weâve all made at least once, and itâs important that we learn from it to avoid repeating it. To recognize your trading mistakes, you must keep a journal of all your trades. After some time, reviewing your trades will reveal your weaknesses and errors, helping you avoid making the same mistakes again.
LIVE
Mrsignal
--
Many traders tend to hold onto losing positions, hoping the price will return to their entry point. Conversely, when they're in a winning position, they often close the trade prematurely for minimal profits due to fear. To become a successful trader, itâs essential to adopt an optimistic mindset when youâre in profit and a more cautious approach when youâre facing a loss. Set a stop loss for losing trades instead of holding on to them. However, when you're in profit, let your trades run to maximize your gains.
Let me give you an example:
Imagine you bought #ETH at $3000 in the spot market, and now you find yourself in a losing position. You think, "Since I bought in the spot market, Iâll wait for the price to come back to my entry." However, as time goes on, the price of #Ethereum continues to decline, and without a stop loss in place, you hold on, hoping the market will recover so you can sell at your entry point.
After four to six months, the price may finally return to your entry or slightly higher, and you close the trade quickly, either at break-even or with a tiny profit because you fear the price will drop again.
Now, you might argue that waiting for the price to return to your entry isn't a problem since you didnât incur a loss.
Yes, you didnât lose any money, but you wasted valuable time holding onto that coin, time you could have used to invest in other opportunities or engage in short-term trades. I can promise you that if you make this mistake once, you are likely to repeat it, trapping yourself in a cycle that can hinder your trading success.
I can promise you that many of you have purchased countless altcoins in the spot market at the wrong time and price, holding onto them for months or even over a year, still clinging to the hope that the market will recover so you can sell at your entry point.
Many traders tend to hold onto losing positions, hoping the price will return to their entry point. Conversely, when they're in a winning position, they often close the trade prematurely for minimal profits due to fear. To become a successful trader, itâs essential to adopt an optimistic mindset when youâre in profit and a more cautious approach when youâre facing a loss. Set a stop loss for losing trades instead of holding on to them. However, when you're in profit, let your trades run to maximize your gains.
Let me give you an example:
Imagine you bought #ETH at $3000 in the spot market, and now you find yourself in a losing position. You think, "Since I bought in the spot market, Iâll wait for the price to come back to my entry." However, as time goes on, the price of #Ethereum continues to decline, and without a stop loss in place, you hold on, hoping the market will recover so you can sell at your entry point.
After four to six months, the price may finally return to your entry or slightly higher, and you close the trade quickly, either at break-even or with a tiny profit because you fear the price will drop again.
Now, you might argue that waiting for the price to return to your entry isn't a problem since you didnât incur a loss.
Yes, you didnât lose any money, but you wasted valuable time holding onto that coin, time you could have used to invest in other opportunities or engage in short-term trades. I can promise you that if you make this mistake once, you are likely to repeat it, trapping yourself in a cycle that can hinder your trading success.
I can promise you that many of you have purchased countless altcoins in the spot market at the wrong time and price, holding onto them for months or even over a year, still clinging to the hope that the market will recover so you can sell at your entry point.
The price of #SOL fully reached the grey zone and surged over 11% to the upside, all without leverage! âĄïž
If you managed to catch this trade, book 50% of your profits, set a stop loss at the entry point, and hold for the second and third targets. â
LIVE
Mrsignal
--
Bullish
#SOLUSDT | 4 HOUR TIMEFRAME UPDATE
On both the weekly and daily charts, I'm still bullish on #Solana . I'm waiting for the price to reach the zone between $140.188 - $133.100, where we can then look for confirmation on the 1H time frame to enter a long position. â
Target levels for this upward move are $149.886, $155.839, $163.712, and $171.050. đ
On both the weekly and daily charts, I'm still bullish on #Solana . I'm waiting for the price to reach the zone between $140.188 - $133.100, where we can then look for confirmation on the 1H time frame to enter a long position. â
Target levels for this upward move are $149.886, $155.839, $163.712, and $171.050. đ
With the current escalation between Israel and Iran, including reports of rocket launches and potential retaliation, the financial and crypto markets are likely to experience heightened volatility. In such unpredictable situations, it's wise to step back and avoid any trades. Staying out of the market during times of geopolitical instability can help protect your investments. Exercise caution and stay informed.
After #Ton hit the bearish weekly order block, it plunged by 12.45%âwithout leverage! đ„
So, what's the takeaway from this #Toncoin analysis?
Always prioritize the higher time frames (monthly, weekly, daily) in your trades. Once you've identified the trend on these larger time frames, you can then refine your entry and confirmation using the lower time frames.
LIVE
Mrsignal
--
Bearish
#TONUSDT | DAILY TIMEFRAME UPDATE
I'm currently watching #TON to reach the $6.056 - $6.366 zone, where we'll be looking for potential short positions.
Why is this grey zone so important? đ€
This area, as seen on the weekly chart, is a key bearish order block and also represents the premium zone for #Toncoin. Once the price enters this region, weâll shift to the 1H timeframe to look for confirmation signals before entering a short position.
As soon as confirmation is established within the grey zone, I'll provide the target levels. â
#Bitcoin has finally dropped below the sell-side liquidity (SSL) at $62,310. âĄïž
If you managed to catch this move, consider closing 90% of your position and setting your stop loss at breakeven. Alternatively, you can choose to close the entire position for profit. đž
LIVE
Mrsignal
--
Bearish
#BTCUSDT | 4 HOUR TIMEFRAME UPDATE
The $65,041.9 - $65,722 range could serve as a key resistance level for #Bitcoin . If youâre holding long positions in Bitcoin or other altcoins, itâs a good time to book profits and either set your stop loss at breakeven or close your positions entirely.
Once Bitcoin reaches this zone, we might see some downward movement. However, opening short positions carries high risk, as the overall trend on the higher time frames remains bullish for #BTC
Answer: Currently, we can expect this downward trend to continue. I anticipate the price will fall below the SSL (Sell Side Liquidity) level at $62,310.
Once the price drops below $62,310 or even lower, I will publish a new analysis for #Bitcoin
LIVE
Mrsignal
--
Bearish
#BTCUSDT | 4 HOUR TIMEFRAME UPDATE
The $65,041.9 - $65,722 range could serve as a key resistance level for #Bitcoin . If youâre holding long positions in Bitcoin or other altcoins, itâs a good time to book profits and either set your stop loss at breakeven or close your positions entirely.
Once Bitcoin reaches this zone, we might see some downward movement. However, opening short positions carries high risk, as the overall trend on the higher time frames remains bullish for #BTC
Keep an eye on #TONUSDT and revisit my latest analysis for #TON
As mentioned before, there's a bearish order block on the weekly timeframe, which is likely to act as a resistance for #Toncoin
LIVE
Mrsignal
--
Bearish
#TONUSDT | DAILY TIMEFRAME UPDATE
I'm currently watching #TON to reach the $6.056 - $6.366 zone, where we'll be looking for potential short positions.
Why is this grey zone so important? đ€
This area, as seen on the weekly chart, is a key bearish order block and also represents the premium zone for #Toncoin. Once the price enters this region, weâll shift to the 1H timeframe to look for confirmation signals before entering a short position.
As soon as confirmation is established within the grey zone, I'll provide the target levels. â
The $65,041.9 - $65,722 range could serve as a key resistance level for #Bitcoin . If youâre holding long positions in Bitcoin or other altcoins, itâs a good time to book profits and either set your stop loss at breakeven or close your positions entirely.
Once Bitcoin reaches this zone, we might see some downward movement. However, opening short positions carries high risk, as the overall trend on the higher time frames remains bullish for #BTC
Intermediate targets for this upward trend include $1.1716, $1.2468, and $1.3600, while long-term targets are $1.4756, $1.6000, $1.8150, $2.2000, $2.5400, and potentially higher. đ
These targets are realistic but will require patience, as reaching them may take time.
It's important to note that a break below $0.8000 would invalidate this analysis.
I'm currently watching #TON to reach the $6.056 - $6.366 zone, where we'll be looking for potential short positions.
Why is this grey zone so important? đ€
This area, as seen on the weekly chart, is a key bearish order block and also represents the premium zone for #Toncoin. Once the price enters this region, weâll shift to the 1H timeframe to look for confirmation signals before entering a short position.
As soon as confirmation is established within the grey zone, I'll provide the target levels. â