Today I traded BTC, BCH, ETH, NEO, SUI, ADA, YFI:
1. Overall, considering the two open orders, it seems like today was another lonely day in trading.
2. The variety of coins I traded is still too much and too mixed.
3. I couldn't control myself; during high volatility, I didn't have a firm bearish stance and was easily shaken out at some non-critical positions.
4. These non-critical positions are where we tend to lose money, and this highlights the difference between retail traders and professional traders.
5. I took a rough look at my settlement orders; many were just a few points lost or gained before I got shaken out, resulting in missing out on larger profits later.
6. This might be the benefit of watching the market closely; while it prevents significant losses, it also limits big gains, making it easy to get caught up in bad positions and open trades, leading to being shaken out in front of trends I believe in.
7. The psychological reason for getting shaken out is that I initially see some decent profits, but due to poor entry positions, it's easy for the price to retrace to my entry point or even deeper, creating unfavorable expectations. The longer this expectation gap lasts, the more likely it is to collapse my psychological defenses. This is a weakness of human nature; we tend to mistakenly think of unrealized gains as money we have lost.
8. It is very difficult for us to overcome this weakness of human nature. This is why 90% of people in this market lose money, and only less than 10% make profits or achieve significant results and can maintain them.
9. To be honest, this is an area I need to improve. I must ensure to open trades or take profits at better positions.
10. Lastly, the two stop-loss BTC orders did have a bit of a gambling logic behind them; there was no certainty, making it easy to hit the stop loss.
11. Take it slow; my goal is to achieve stable profits. Keep it up.