(10.21 - 10.27 Trading Review Thoughts)
The trading target for this week was a return of 10% - 30%, but the final result was -30%, failing to meet the expected target. Below is a detailed review of this week's trading thoughts.
1. Trading Strategy Analysis
This week, I am optimistic about the rebound of altcoins, mainly dealing with altcoins. However, the actual effect is poor, as the selected altcoins have basically gone in the opposite direction. The market is unstable, and when mainstream coins fall, altcoins experience a waterfall-like decline. This indicates a deviation in the expectation of the rebound for altcoins; relying too heavily on a single strategy presents significant risks in an unstable market.
2. The issue of targets
1. 1inch: Poor trading volume, and the decentralized exchange (DEX) is virtually non-existent, with a very low total locked value (TVL). This is a failed choice, and during the operation, I did not stop loss in time, leading to holding too long and missing the opportunity for Bitcoin's correction.
2. people: Originally, I expected the election to bring a wave of increases, but the momentum is weak, possibly due to the large number of market participants, making the vehicle too heavy, and also being dragged by the market. I personally believe it should rise only after a wave of airdrop liquidation; although I did well in terms of taking profits and losses, my entry was too early and position control was not good.
3. Trading Psychology
This week, I relied too much on the rebound of altcoins, and when the situation was not right, I chose to continue increasing positions and holding on, being overly greedy with altcoins. When I wanted to abandon the targets, I hesitated and lost my rhythm. This trading psychology caused me to miss many opportunities in Bitcoin, and it also left me physically and mentally exhausted, resulting in heavy losses.
4. Trading Records
1. 1inch: Started looking for breakthroughs on the right side from 29, added positions down to 26, with an average price around 27, and finally stopped losses around 26.5. Initially, I did not consider the stop-loss level, resulting in holding the position for 4-5 days and missing the opportunity for Bitcoin's correction.
2. people: Started going long at 89, stopped loss at 87; went long at 81, stopped loss at 79. The directional judgment was correct, but the entry was too early, position was not reduced, and there was a lack of patience to wait for the key position.
5. Summary of Trading Experience
1. This week, there was a drawdown of about 30%. Before the waterfall, I decisively stopped losses, such as with Ethereum from 2530 to 2388, where I sold at 2530; with people from 80 to 71, I sold at 79. This shows the importance of stopping losses in trading, which can effectively control losses.
2. For unfamiliar altcoins, especially those with poor fundamentals, like the poor trading volume and fundamentals of 1inch, do not engage. Don’t try to touch garbage or harbor any lucky thoughts.
3. When selecting targets, in addition to considering popularity, the fundamentals of the products should also be examined. Choose a few targets you are familiar with; do not diversify too much, as focusing can better grasp opportunities.
4. Paying attention to others' real trades can help learn experiences, but it’s important to maintain independent thinking. This week, I focused on Master Wang's real trades; he went from a profit of 1.5 million to 300,000. Despite the drawdown, it was still profit, reminding us that drawdowns are normal and should be approached with a calm mind.
6. Future Outlook
Trading is like a marathon; success cannot be achieved overnight. We must maintain a positive mindset, continuously adjust trading strategies, view failures and losses as opportunities for growth, summarize experiences and lessons, and improve trading levels. At the same time, we must maintain discipline and restraint, starting from life and extending it to trading. Progressing little by little will not be in vain. Life is like a candlestick chart; crouching down is to jump higher. Here, I especially thank Teacher Dou for teaching me the phrase 'Progressing little by little will not be in vain,' and also thank Sister Ou for teaching me 'Life is like a candlestick chart; crouching down is to jump higher.' These two phrases provide me with the strength to keep moving forward on my trading journey.
In addition, I would also like to thank the guidance given by the starry sky big shot this week, the director for introducing me to a new way of exercise, and the teamwork of my partners. It is thanks to this support and help that I can continue to move forward on the path of exploration and growth.
In terms of life, this week I ran a half marathon and successfully challenged myself, feeling a sense of achievement. At the same time, there was a surprising discovery: I originally thought the garlic and celery I planted wouldn’t grow, but unexpectedly, after a few autumn rains, they started to sprout. Meanwhile, the seedlings I planted, whether cabbage or lettuce, have yet to grow, but I believe they just need time, just like many things in life. We cannot be anxious; patience will eventually lead to wonderful results. Keep it up!
