2025.5.1 Lao Jiu's Hundredfold Trading Review Goal: $100 capital to earn $10,000, currently $70 Today's number of trades: 5, profit and loss situation: -15%. Yesterday I was too frustrated, driven by the desire to recover, knowing full well that my trades were wrong, yet I continued to trade incorrectly. The losses were too large, I lost 36% over two days, with a drawdown exceeding 50%. I just want to give up and start over. I clearly know what is right and what is wrong in trading, but I just can't do it. Yesterday's and today's trades were completely irrational, only driven by gambling instincts; the weaknesses of human nature are so hard to overcome! With such a large drawdown, I don't know when I will recover.
2025.4.30 Lao Jiu's Hundredfold Trading Review Goal: Turn $100 capital into $10,000, currently at $95. Trading discipline goal is to not exceed 3 trades per day, and losses should not exceed 5%. Today's trading count: 36, profit and loss situation: -5.4%. Today's trading status is terrible, heavily shorting in the morning, incurred huge losses, losing over 10% of the capital. In the afternoon, I caught a skyrocketing coin, voxel, took profit on half the position, and planned to hold the remaining position, but ended up unable to hold. Originally, I had already increased my position when voxel retraced in the evening, but fearing to lose the already gained profit, I closed the position; otherwise, I would have made a big profit today. Yesterday, I also caught a skyrocketing coin but couldn't hold the remaining position either. The aversion to losses psychology needs to be overcome, or else I won't be able to make big money. In the evening, there was a crash, trading eth and voxel back and forth dozens of times, my mentality collapsed. Kept shorting and kept losing, couldn't make money during the crash. Made all the trading mistakes, operated back and forth, had too large of a position with too small of a stop loss, and couldn't hold profitable positions. Still need to make a trading plan, must create a trading plan before each trade, use the trading plan to overcome those bad trading habits.
Voxel surged, but unfortunately I closed my position the first time or I would have doubled it. The second time I bought back in, the position was too small. Frequent trading is truly a killer.
Too greedy, wanting to make a big profit in one go, but ended up with a big loss. Unable to control position, position too large, and stop loss too small easily triggers stop loss. Saw it correctly but didn't execute it correctly, a failed trade. 😭😭😭
If the direction is not clear, you shouldn't trade; it's just a waste of money. You haven't learned to wait for opportunities, like a hunter who only shoots when he sees his prey. Without direction, be patient and wait; why keep going back and forth? Sigh.
2025.4.29 Lao Jiu's Hundredfold Trading Review Goal: $100 principal to earn $10,000, currently $104 The trading discipline goal is to not exceed 3 trades per day and a loss ratio of no more than 5%. Today's number of trades: 19, profit and loss situation: 1%. Damn, the number of trades per day still can't come down. Today I watched Lu Xiwu's commentary on students' trading plans, learned some knowledge, and now I know how to make my trading record sheet template. Trading has four elements: long and short direction, opening position, take profit position, and stop loss position. Each element must be thought through to ensure it has logic and basis, rather than being set randomly. After each trade, summarize to see which element was not done well and whether it violated the trading discipline.
The Bitcoin one-hour candlestick chart has formed an equilateral triangle pattern, and a direction is expected to emerge during this evening to tomorrow morning.
2025.4.28 Lao Jiu's Hundredfold Trading Review Goal: With a capital of 100 USD, earn 10,000 USD; currently at 100 USD. The trading discipline goal is to not exceed 3 trades per day, and the loss ratio should not exceed 5%. Today's number of trades: 12, profit and loss situation: -6.13%. In the past two days, I've been studying Lu Xiwu's 'Trend Trading Method', gaining a lot of insights. Understanding trend confirmation and the application of wave theory allows me to better recognize the current market phase and improves my trading mindset. I had read it a few years ago but didn't dive deep; now revisiting it directly applies to my trading. I’ve known the concept of a trading system for a few years, but haven’t established my own trading system and still operate at a beginner level. Not seriously learning trading knowledge from trading experts, not summarizing my trades, not understanding my shortcomings, and not knowing how to improve my trading while naively hoping to get rich through trading is truly laughable and foolish.
Started shorting yesterday, was still profitable in the morning, but ended up reversing all day and turned from profit to loss. The position was too large, the stop-loss point was set inappropriately, and the trading mindset was not good. Kept staring at the price, afraid of losing and closing the position. A good trading mindset should be calm, prepared psychologically for any changes in the market.
Today, there were two significant losses due to not adhering to trading discipline, with excessive position sizes resulting in large losses. The loss on a single trade should not exceed 2% of the total position.
2025.4.27 Lao Jiu's Hundredfold Trading Review Goal: $100 principal to earn $10,000, currently $105 Trading discipline goal is to not exceed 3 trades per day, with a loss ratio not exceeding 5%. Today's number of trades: 22, profit and loss situation: -6.25%. The number of trades has increased again today, with not much market activity over the weekend leading to frequent operations. There are many downsides to high trading frequency, including higher fees, not holding onto coins which results in missing out on bigger market movements and profits, and making more mistakes leads to more losses. I haven't changed this bad habit this month, but I must change it next month and develop the habit of low-frequency trading. At least hold a position for a week. Today I shorted SUI, shared the position, and many people commented. I learned things from it, and my application of trading volume has improved compared to before.
2025.4.25 Lao Jiu's Hundredfold Trading Review Goal: With a capital of $100 to earn $10,000, currently at $117 The trading discipline goal is to not exceed 3 trades per day, and the loss ratio should not exceed 5%. Today's number of trades: 8, profit and loss situation: -6.4%. I have been shorting for the past two days, and it's hard to see the upward trend clearly, the pullback has also increased. The most important thing in trading is to understand what the current trend is and how far it has developed. This way, one can avoid trading against the trend, understand the development stage of the market, and know how to take profit, stop loss, and increase positions in the next step. I made some profit when the upward trend just started, but I didn't hold on and cleared my position to short instead, resulting in a pullback of half of the profit. I need to understand the market better and pay more attention to the waves and sayings.
2025.4.24 Lao Jiu's Hundred Times Trading Review Goal: $100 principal to earn $10,000, currently $130 Trading discipline goal is to not exceed 3 trades per day, and the loss ratio should not exceed 5%. Today's number of trades: 6, profit and loss situation: 0%. This afternoon, I shorted and originally made a decent profit, but the rebound caused the profit to disappear. I intended to wait for a further drop to make more profit before reducing my position by half. In the future, when the profit and loss ratio reaches 1 to 3, I will take profit on half of my position to at least recover some, and the remaining can also earn a lot when it takes off, I won't be greedy next time. Today's number of trades should have been 4 times, I traded Ethereum short three times, and my mindset started to deteriorate, leading to random operations.
Wait for a little more drop, take profit on half of the position, and let the remaining half double. The most important reason for trading losses is holding onto losing positions, frequent trading, and not being able to hold onto profits. It's common to misjudge the direction, and it's not that important. I've quit holding onto losing positions, and now I will focus on doing the other two well.
Trump is going to ship out soon, better drop by 20%. I've already made four trades today, and now I need to stop, can't open any more orders today, control the trading frequency.
The consequence of frequent operations led to closing the short position on a profitable altcoin and reopening a short on another altcoin, resulting in a loss. My mind was confused to make such operations.
2025.4.23 Lao Jiu's Hundredfold Trading Review Goal: $100 principal to earn $10,000, currently $130 The trading discipline goal is to not exceed 3 trades per day and a loss ratio of no more than 5%. Today's number of trades: 8, profit and loss situation: -7.14%. Last night, I didn't hold onto the profitable position, and today I keep wanting to short, which is really a bad mindset. There was no signal to short, and the long position was not good either; both long and short trades resulted in losses, and without any positions, I kept making random trades. In addition to controlling the trading frequency, I also need to cultivate the habit of holding positions for a longer time. When buying, I still need to use a small position to test the waters, and wait for a suitable position to add the remaining position; this way, my mindset will be better. If the buying position is not suitable, it is easy to get stopped out by a rebound, and the stop-loss can also be too large.