The cryptocurrency industry is quite picky about personalities. Apart from having some technical knowledge, those with an indecisive personality really can't survive. I have a friend in real life whom I've advised more than once to quit the industry; her personality is really not suited for this. Take opening a position for instance, she has no opinions of her own. Whether it's on the plaza, Twitter, or any other social media, when she sees someone calling a trade, she jumps in. Last night she opened a long position at 94200; it went up to 95000, and she set her trailing stop at 94600, but then it dropped and hit her stop loss. Immediately at 94600, she opened another long position, it went up again, and then she adjusted her trailing stop to 95000, but it hit her stop loss again at 95400. At 95500, she opened another long position, and finally, she stopped out at 94800. I believe many people operate this way. Brothers, what type does this personality belong to? She doesn't hold positions and knows about stop losses, but is trading frequently, losing a little every day, losing a little every day, like a frog in boiling water. Is she the type that feels uncomfortable without opening a position for a day? It really echoes that saying: a flurry of operations like a tiger, only to see the account down to 250. If she doesn't open a position for a while, she feels like she can't make any money. If you have this kind of personality, you should quit the industry as soon as possible. Frequent trading will really drive you to a breakdown, leaving you with no direction. The premise of opening a position is to determine which level to trade at: trend? Daily? Weekly? Four-hour? Once determined, find the direction from the monthly and weekly charts, then set the entry time from the daily level, and finally find the entry opportunities from the four-hour and one-hour levels. This hourly level requires monitoring the market closely, aiming to minimize the stop loss point. A skilled trader doesn't open ten positions and make ten percent on each; rather, they can accept ten stop losses but make two hundred percent on one trade!
