After looking around, I feel like everyone made a lot of money in May. So let me, the only one losing money besides James, summarize what I did for a month of busyness in May that amounted to nothing.
It seems like a summary of May's trading, but it also feels like a collection of my trading mistakes most of the time.
1️⃣ Not taking profits. In the first few days of May, with the surge in the crypto market, my funds reached a new high. Generally, taking profits at new highs is usually a good idea. However, I aimed too high, and I deserved this drawdown.
2️⃣ Recklessly bottom-fishing without considering the fundamentals. Here I'm talking about $SUI. First, the macro market conditions weren't that good; second, the hack challenged the underlying logic of $SUI. Even if I were to bottom-fish, I should have taken a short-term profit and left. Now, it's time to eat instant noodles in the dark, with losses in the spot market.
3️⃣ Trading disorderly beyond my usual ability and trading habits. The only time suitable for me to trade in May was actually at the beginning of the month, which I know myself. But I overestimated myself, refused to rest, and only stopped after losing the profits through turmoil.
June goal: Reduce trading, do things that suit me, and read more and learn more.
This is an expensive lesson, so I need to remember it, Fiona.