Most of the losses come from greed. Every time I use more money than I can afford to increase my position, the probability of losing money will be greater. So I only use one tenth of my funds each time, so even if my position is blown up, I still have 9 chances.
If you want to succeed in contract trading, you have to forget the orders in your hands and throw away the short-term K-lines, especially for trend traders like me. The best state is to open an order, set a stop loss, and leave the rest to God.
I picked 4 knockoffs, two of them increased in price and two of them remained the same. I feel it’s pretty good. I will stay in seclusion for another week to perfect the knockoff logic.
Livermore said that buying is about making money, so the core of the copycat is still the trend. When the trend comes, just follow the trend. Copycats should never think about buying at the bottom, because if you think about buying at the bottom, there will never be a bottom.
This week and next week, I will review other people's logic of altcoin trading, the logic of entering or exiting the market. Because it is too boring to only do Bitcoin, and also because I often read the experience of those big speculators in the stock market recently, I think it is actually quite interesting to play altcoin well. I will use a small amount of funds to practice in the next two weeks. The yield just broke 600 today, but it was all made in Bitcoin, so I just tried altcoin today.
I think the most important thing in trading is patience. In the past, I could complete several orders in a day, but now it is normal to take half a month or a month for one order.
There is a futures gap between 58500 and 59500. There will be a brief correction to fill the futures gap. There will not be a big drop, so don't worry.
Last time I opened a long position at 53000 and took profit at 64000. My idea of taking profit is that when the indicator reaches a high point and the price also reaches a high point, I will observe whether the indicator will correct downward if the price remains unchanged. If the price and the indicator do not change, there may be a risk of falling. And when the price and the indicator both reach a double top at the same time, it is a signal to escape.
The two indicators I often use have bottomed out. Looking at this oscillation box, the bottom position is probably at 57,200. I don’t think it will fall below this range. The market should go up tomorrow at the latest. If it cannot break through this box next week, then a big waterfall may be coming. Next week is critical.