0626 Blue Star Trading Notes Part 4
In the investment field, Blue Star is just a small player.
When I make a profit, I want to post on social media, Twitter, and Weibo to show off.
When I incur a loss, I want to share my thoughts and reflections, driven by the need to show off as well.
My resolve is average.
Yesterday at the resistance level, FARTCOIN couldn't rise, and when it dropped from 1.12 to 1.08, I opened a short position after finishing my tasks, setting the stop loss at 1.12 and the take profit at 1.
During a wave of decline last night, I closed the position.
Why?
I recovered the losses from that day, and psychologically, I felt a sense of loss aversion, so I closed most of my positions, leaving a small portion open.
This is casually adjusting my trading plan!
The small portion is currently at a profit of 84%, while last night's profit was 34%. I placed a protective stop-loss order when my profit was only 10% during the pullback.
How can I avoid this psychological trap?
I've missed out on a large amount of profit because I've closed positions early due to having profits multiple times!
Lack of conviction!
When the market is favorable for my entry position, I should just set a protective stop-loss order. Once the protective stop-loss is reached, I should move on to the next operation without making manual changes!
I hope this is the last time I close a position early!
