C Hak Review Diary - 3

Date: October 26, 2024

Current remaining funds: 506u
Win rate: 0%
Loss: 94u
Profit: 0

Writing a review on a Saturday is really tough, I'm not used to looking at the market much on weekends, and having to write something makes it even harder. But if I don’t review now, I’m afraid I’ll forget. Losing money means I have to learn something; otherwise, it’s a waste.

First, let’s talk about trading psychology.

This is really a terrifying hurdle!
In the past few days, I’ve drawn the charts quite accurately.
But after placing orders, why haven’t I made a profit since then? 🐶

Actually, there’s nothing wrong with the price at which I opened my position. However, when the candlestick chart fails to move towards my target, I simply can’t accept closing out immediately at a small loss until hitting the stop-loss. Even when the price returns above my entry point, I refuse to exit, fantasizing that the price will move towards my target from that moment.

Next, let’s talk about myself:
Stop moving the stop-loss, it’s better to wait for the next support or resistance point to open a new position.

Now, let’s discuss the order I placed yesterday.

ETH
When I opened my order, it was based on its consolidation zone.
What I didn’t expect was that half an hour after I opened my position, the consolidation zone broke down. 😩
My stop-loss point was 2495, and when it broke 2500,
I was watching the market, but I couldn’t withstand the psychological shock.
I chose to move the stop-loss from 2495 to the lowest point of the next support level at 2436.
By the evening, when it reached 2560, I still believed ETH could take off, so I chose to revert the stop-loss back to the original.
The result, as everyone knows, was a stop-loss!
Why did I feel ETH would continue to soar? A large part of it is because the ETH/BTC exchange rate is so low! A small part is because the risk-reward ratio doesn’t meet my expectations.

The stop-loss level for LISTA was also originally set at 1%.
Later, when it broke below 373, I chose to set it to the next support level.
When I checked in the evening, I had made a profit of about 10u, but it still didn’t meet my expectations.

At 2 AM 🕑, for many people, it’s usually filled with regret.
I’m very glad I set a stop-loss.
Despite some losses, I’m glad I still have my principal.

Currently, I haven’t had a good start, keep it up! 👏

There’s really so much to learn!
I see many experienced traders in the community turning a few thousand from just a few dozen u in days.
But right now, I truly hope to take it slower and steadier, so that when opportunities arise, I can seize them and survive in this market for the long term.

Let’s encourage each other!

C Hak Review Diary-2

Date: October 24, 2024

Current Remaining Capital: 550u
Profit and Loss Ratio: 0
Win Rate: 0%
Loss: 50u
Profit: 0

Summary: Waiting

WLD

Determined the entry position based on today's high and low points at the 0.618 position
Stop loss is set at 1%

Actually, what I drew today was a triangle during this 4-hour period. I originally wanted to trade on the triangle breakout, or use the upper edge of the triangle as resistance and the lower edge as support for entry.

Unfortunately, my mindset got in the way, and I didn't remember the importance of [waiting].

ARKM

Also based on Fibonacci, so not much to summarize.

My mindset is consistently poor. After being stopped out in WLD, I actually thought of moving the stop loss point when ARKM was almost at the stop loss level. I really went 🐶.

Although I did get stopped out, at least I controlled my anxious hands.

As I write this article, I indeed saw a rebound after my loss.

So? However, I really need to pay attention to my stop loss level.

Currently, I basically set my stop loss level at 1% in the opposite direction of the entry price.

I determine the size of my entry based on the amount I can lose per trade and the stop loss level.

I have been thinking whether the stop loss level should be set at the high point?

Let me think it over 🤔.

To be honest, the two trades I made were indeed forced.

Both used Fibonacci to determine the points, and under the subjective judgment that the price would rise,
I chose to pull Fibonacci and aim for a 0.618 retracement.

The result was a failure.

I failed to correctly judge the market trend.

In fact, several indicators had already informed me that today would be more bearish.

Perhaps the continuous floor shorts in previous years have made me a bit fearful of shorting.

I should short!

Psychology is indeed very important; when trading, one must always pay attention to their mindset.

My mindset is really not good. If I'm afraid to short, I might as well not open a position.

Yet I chose to determine the entry position using a different method.

I am really a novice 🐶.

Novice 🐶 must practice more! I just want to see when I can open a green position!

I want to complain a bit about the ETHBTC exchange rate; I am really impressed.

But I believe ETH is not destined to fail. The more suppression there is, the bigger the rebound will be.

Get up, ETH!!!!!!!!

赌🐶的涅磐重生之 Road

C Hak Review Diary - 1

Date: October 23, 2024

Current Remaining Funds: 570u
Profit and Loss Ratio: 0
Win Rate: 0%
Profit: -30u

The first one is SUI: One sentence: Give up on illusions, trust your understanding.

I performed very poorly, not due to point judgment, but during the monitoring process
I failed to integrate what I had learned.
Based on volume and price, when encountering support or resistance breakouts, forming a large bearish or bullish candle with significant volume, one should give up on going long.
Afterwards, it often reached above the breakeven price, and indeed my mind was advising me to close the position and seek another opportunity! However, I was stopped by another demon, the illusion of completing a rebound.
Worse still, after the first bad click pierced the stop loss [1.9504],
I chose to move the stop loss to 1.94. I was so disappointed; there was no reason to move it, just my fantasy of a rebound. It really is laughable.

The second one is PEPE.

This trade didn’t have any issues when I executed it; although there was a slight rebound after the stop loss, it was reasonable for me.
My shortcoming in this trade was not monitoring; actually, it wasn’t entirely about monitoring.
I didn’t open this order based on support and resistance levels; even if I had monitored, the outcome would have been the same. I wouldn’t have exited at breakeven.
Because this trade was based on a triangle breakout, at that time it was not only on the 15-minute chart but also on the 1-hour, 4-hour, and even daily charts as a triangle. So I expanded the stop loss; I set it at the 2% position, with the stop loss amount still at 10u, reducing the position size. Today, the market is down, and this order also hit the stop loss.

However, currently, this triangle is only slightly ugly on the 15-minute chart; the other time frames are still perfect. I will look for opportunities to enter again.

😂 Time for hindsight:

When SUI breaks out and encounters a large bearish candle impact, one should seek a breakeven exit.
PEPE should also exit at breakeven when encountering a large bearish candle breakout.
Switch to a different time frame to open positions.
Keep it up! Improve your understanding a little bit every day! Welcome effective communication, learn more, and make progress!

赌🐶的涅槃重生之 Road