The recent trading performance has indeed been less than ideal. Upon reflection, I realized that I have always been unable to control the frequency of my orders, ultimately due to a lack of sufficient certainty regarding the timing of purchases—there is no clear and definite entry point. Moving forward, I will focus more on filtering and confirming signals, establishing a set of buying logic that I truly believe in, reducing ineffective trades, and improving overall trading quality.
The frequency of orders today has dropped to two orders. Although I didn't make any money, the continuous drawdown has finally ended. A good start in May, let's keep it up!
The last continuous withdrawal in April lasted a week, and the main issue is still frequent trading. This problem must be resolved in May, with a maximum of three trades per day. Even if market opportunities are missed, we must execute trades; it may not be reasonable, but let's focus on doing it first. If we fail to do this one day, the square will distribute red envelopes to everyone. If the trading issue cannot be resolved continuously, the outcome is actually predictable.
Yesterday was overall a volatile market, which actually wasn't suitable for opening positions, but I still placed several orders, and the result was almost all losses. Now my position management and strict stop-loss have basically been executed well, and the next focus should be on: not to act easily when the market is unclear. At the same time, I should also review in a timely manner, identify those orders that shouldn't have been opened, summarize the reasons, and avoid making the same mistakes in the future to effectively reduce drawdowns.
I got involved in the cryptocurrency world in 2021. At that time, I was still a newcomer completely ignorant of high-volatility markets. Initially, I was very cautious, only investing 100U to 'test the waters,' and to my surprise, I quickly doubled my money. At that moment, I thought I had found the 'shortcut' in life. Thus, my courage also grew, and my capital increased from 100U to 1000, 5000, 10000... I no longer set stop losses for my trades, only thinking about making money with every trade. Even if I had floating losses, I was unwilling to admit defeat, increasing my positions and holding on. Surprisingly, I didn't encounter any major problems, and my account value gradually increased.
Today's overall profit is still good, the market was quite smooth in the morning, and I bought at a relatively good position. However, my ability to add positions and how to balance positions and profits during subsequent market fluctuations was not handled well enough and still needs more practice. Actually, today I was optimistic about #ZEREBRO and #DEEP , while #turbo was just a casual trade, but the result was that the turbo performed the best. The other two had one deep profit retracement by half, and the other ultimately closed at break-even. The market is always changing and unpredictable.
#DEEP Although the entry point for this trade today was good, the position was increased too slowly during the preceding smooth market, and the subsequent market fluctuations led to the position being adjusted to break even. The good thing is that I reduced half of the position in between, resulting in a final profit-loss ratio of five times. If done well, it should be possible to achieve a 20 times ratio, so more practice is needed. Currently at a 50 position opening, it should be able to rise to 100 next month. Keep up the rhythm, and let's go!
You can try to open more after this callback at #NEIROETH , with the stop loss set at the previous low point of the callback, make sure to set the stop loss properly.
#ZEREBRO is so unlucky, it got washed out at the tip, but that's how it is with increasing positions; sometimes luck plays a significant role, just accept it.