$AI $XVG True story Read it so you don't make the same mistake idid for today
Learning from My Trading Mistakes
Recently, I made two trades that resulted in significant losses. In both cases, I held onto losing positions hoping for a profit turnaround. This approach led me to:
Ignore my stop-loss orders: I had set stop-loss limits to minimize potential losses, but I chose to override them due to the time and effort invested in the trades.
Become greedy: Hoping for an even bigger profit, I held onto the positions beyond my initial target profit, ultimately missing profitable exits
These experiences taught me valuable lessons:
Define profit targets beforehand: Determine a reasonable profit level and stick to it by closing the trade upon reaching that point.
Respect stop-loss orders: These orders are crucial for managing risk and preventing excessive losses
Be cautious with small positions:
Smaller accounts are more susceptible to significant losses due to higher percentage swings.
Approach volatile assets with caution: Be extra mindful of potential manipulation and volatility, especially with newer or less established coins.
By implementing these learnings, I aim to significantly improve my future trading decisions.
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