Review of the trades on May 16

Entered a long position on Kaito at a price of 2.06 at 6:35 PM, then manually closed it at a price of 1.92 at 8:03 AM on the 17th. Huge loss!

After analyzing the reasons, it seems I was deceived by a false breakout, but in reality, I violated my trading principles. For breakout trades, I must confirm whether the MACD indicator is divergent and whether the trading volume has increased accordingly. If either of these conditions is not met, I should not enter the market. I let my lucky mindset take over, deceiving myself into thinking this time was different, that I didn’t have to follow trading principles, and then ended up suffering such a loss!

Additionally, today there seemed to be no trades, but I actually executed quite a few.

First, I went long on syrup at a price of 0.373 last night and closed it at a price of 0.349 at noon.

The reason for going long did not meet the trading system's criteria; it was just because I felt there was potential from looking at the daily chart, and I impulsively entered. I even thought that going all-in with double the amount wouldn’t be risky, just like a fool, completely forgetting my repeated reminders to myself that an imprecise entry could ruin a chance to make big profits!

Moreover, when I closed the position at noon, it wasn’t because the price retraced to my stop-loss point, but rather the price movement of spiking up and then falling back made me feel nauseous. After getting emotional, I carelessly closed the position.

Once I calmed down, I couldn’t help but ask myself, you’ve already lost half a cow, why do you care about the jump of a cow rope? Are you out of your mind?!

Then around 2 PM, before the market took off, I also added to my Ethereum short position, which did not meet the system's criteria for adding positions, and even after adding, I knew the market wasn't completely clear yet. At that moment, adding a short position was too hasty, but I just acted out of impulse.

As for not keeping up with the market's rise in the afternoon, I can accept that because it did not conform to my trading rules. It’s right to participate less in markets I don’t understand, just waiting for my hitting zone.

Overall, my old habit of impulsive trading has resurfaced in these past few days, likely related to my emotions during this time.

My mind and heart are chaotic, my chest feels like it’s on fire, and I can’t find any peace. #Trader #FinancialInvestment #Bitcoin #Psychology