In the last 10 days, I have cut my positions by 1 million, resulting in an account loss of nearly 40%. During this process, I indeed made several mistakes: - Confused position management - Confused stop-loss - Confused breakeven settings - Confused entry signals - The most critical issue is that I also made frequent trading and other basic mistakes
The more I lose, the more I get caught up in it, opening more positions when losing. Besides not holding positions and over-leveraging, I basically made all other mistakes, completely falling into a state of "anchoring effect." This is a very scary state, and the main reason why the vast majority of traders suffer continuous large losses is due to becoming puppets controlled by the anchoring effect.
**Solution** How can we make such an effect disappear quickly? Currently, I know two methods: 1. The simplest method: let the account drop to zero, completely stop trading, and the anchoring effect will disappear directly 2. The second method is to "stop": a completely calm method is to stop trading and allow myself to slowly return to the best state. During this period, I need to continuously learn from past knowledge, especially trading psychology knowledge.
**Current Adjustment Status** - My trading has basically stopped in the last 2 days, even when I see opportunities, I have also stopped trading - At this stage, I mainly adjust my state by writing posts, doing live streams, playing basketball, and traveling - Waiting for specific market conditions that belong to me, reducing the trading frequency to the historical lowest point - Maintain a "watching and not trading" state: I will not open positions unless there is a major market movement - Refuse external interference: I remain steadfast when anyone mentions market conditions and analysis
**Thoughts on Trading Discipline** - Although discipline is very important in trading, "waiting for opportunities" is the most difficult part - Discipline only needs to restrain human nature, while waiting for opportunities requires resisting market temptations - The market is ever-changing, and those who watch the market for a long time can easily be led by various market movements - Most people cannot wait for the right market conditions, which is precisely why it needs to be cultivated.
🧧👇Yesterday (Thursday) we traded a total of 2 contract strategies, hitting take profit on 2 contracts, 0 stop losses, and 0 emergency exits. The first order was laid out 12 hours in advance, with an early notice to hold a BTC long position at a cost of around 94,500. After holding for 1 day, Bitcoin surged to over 97,000, hitting all of our strategy’s take profit points, using 100x leverage, yielding at least a 150% profit, with the highest currently around 280%! The second order was during the night ETF opening + live trading. We shorted at 96,500 and finished the trade within 30 minutes. We took profit on all positions between 95,888 and 96,000 in a smaller 15F wave, quickly making a profit of about 60%. Summary: Today is Friday, and the major non-farm payroll data is being released, which will cause significant fluctuations. If the data isn't too bad, ETH could experience a double explosion on both long and short sides over the weekend; the retail investors losing money are mostly on ETH, while Bitcoin almost always brings in profits. 👇Detailed analysis records 👉返佣
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1) Attention Question: HOW DO YOU THINK XRP in June WILL GROW UP TO 7 $ ❓
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$BTC The market makers in the Asian market don't seem to know what they're thinking, how can they keep buying at this price? During the live stream last night, I made two charts from different perspectives of the weekly price. Just for the family to reference. Those who didn't watch the live stream last night can also check the replay, which includes a chart-making tutorial.
Let's start analyzing from the perspective of the first chart: If this 95600 is the high point of this rebound, I think it's quite good. If it pulls back and then adjusts for a while before forming a weekly W-shaped pattern, there will be a chance to push towards 150000.
Analyzing from the perspective of the second chart: If this round just directly V-bounces to 110000, then 110000 will be the endpoint of this bull market. Because the pattern is not good, if it doesn't form a weekly W-bottom pattern, it will form a weekly M-top pattern. So if it goes straight up to 110000 and then declines, the 60000 can’t be held.
Let's also take a look at the weekly chart of Ethereum: Personally, I don't think Ethereum will rebound immediately. Think about it, below 2000 the Ethereum Foundation is selling, and Trump's team is also cutting losses. Is it possible to rise in the short term? Moreover, there hasn't been enough time for accumulation after the drop; the main forces won't be so kind to come down and let us on board and then immediately rebound to let us make money. So I think it will continue to oscillate and decline...
Why do I say not to play Ethereum? Because Ethereum is currently the fastest and most powerful coin for cutting retail investors. Why do I say this? Because many new retail investors have a misconception that Bitcoin is too expensive to afford, while Ethereum is now over 10,000 RMB and has huge potential. So, retail investors are all playing Ethereum; the more people playing it, the larger the capital flow, and the easier it is to cut retail investors. No matter how high the coin price is, what you invest is your principal's profit. Coins can be split for purchase, so don't have this misconception that you can't afford it. If you can't understand Bitcoin and can't make money from it, then you'll lose money even faster on other coins.
Contract Strategy:
XRP shorted around 2.3 the day before yesterday, currently using 2.3 as the break-even stop-loss position.
BTC in incremental mode, shorting in the range of 95000-95300 with 10x leverage and 20% position size. Stop-loss position: 97850, Take-profit position: 91346, closing half at 欢迎加入币安王牌BlackGodBit的顶级策略聊天室。.
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