Are you shaping your own trading style yet? As for me, I've tried quite a few trading styles, typically like:
- Shorting at high ranges and then gradually DCAing as the price continues to rise or shorting at low price levels and continuing to DCA if the price keeps falling (for those with large capital), using low leverage, wide liquidation prices, holding positions.
- The second trading style is trading on a 15-minute timeframe and setting take profit and stop loss close, using high leverage, accumulating little by little.
- The third trading style I experimented with is hedging, taking long and short positions at the same price with equal trading volume.
After all these experiments, I ended up failing and losing money. The reasons revolve around things like moving stop losses, weak psychology unable to withstand the fluctuations when seeing the price go up and down, and for me, the feeling of waiting is like torture. I realize I need to find a trading style that doesn't require much waiting, doesn't need a lot of entries, and doesn't require guessing the tops and bottoms too much; perhaps that would suit me better.
Now I won't always enter trades anymore, nor will I short the tops or long the bottoms; I will only wait for when the H1, H4, and D1 timeframes align in trend and the price action is clear, with strong momentum before entering a trade. The important thing is to patiently wait for such moments. Fellow traders, feel free to comment with any suggestions.