Topic: My Trading Journal Makes Me Money - page 2. (Read 410 times)
Almost 1 year does not often trade only occasionally, making journals can be a good thing to learn about mistakes or the right time when entering the market or going out, but everyone has different ways of trading, need consistency to keep a record of all our trading activities.
Every professional trader does have a strategy that is constantly being "twerked" or updated to keep up with the changes. I am not familiar with using journals for crypto trade but I did dabbled into trading on newly listed coins and I had my fingers burnt a couple of times, it does have huge rewards if it goes according to plans.Will be back when we are fully bullish
I used to focus on trading the coins that had tons of action with wild swings in price
New exchange listings, the hype coin of the week, those kinds of things.
it is difficult to find a market that fits this strategy, but wild movements also have a big risk.
I don't have a trading journal but the most important thing this market has taught me is never to be sure of any prediction or TA. Bitcoin is very unpredictable and trading altcoins is usually one big lottery.
It's interesting how the patterns always show up after the move. When it happens you start to see some similarities to the other bull or bear markets but before that most of us are running like headless chickens.
It's interesting how the patterns always show up after the move. When it happens you start to see some similarities to the other bull or bear markets but before that most of us are running like headless chickens.
I love when my trading journal makes me money.
Or, in this case, saves me from losing it.
There’s tons of opportunities to trade out there, but not all opportunities are created equal… ⚖️
I used to focus on trading the coins that had tons of action with wild swings in price
New exchange listings, the hype coin of the week, those kinds of things.
The potential to win big, and quickly, is definitely there. 🎯
But I found I wasn’t hitting those wins often enough.
Instead, I was hitting my stop loss more than normal.
Looking back at my journal, it was because I would get impatient and buy quickly instead of waiting for a better entry.
Then I’d get shook out right before the price jumps up. 🍃
The evidence was clear.
From there it’s just a matter of tweaking strategy to optimize performance.
What has your trading journal taught you?
Or, in this case, saves me from losing it.
There’s tons of opportunities to trade out there, but not all opportunities are created equal… ⚖️
I used to focus on trading the coins that had tons of action with wild swings in price
New exchange listings, the hype coin of the week, those kinds of things.
The potential to win big, and quickly, is definitely there. 🎯
But I found I wasn’t hitting those wins often enough.
Instead, I was hitting my stop loss more than normal.
Looking back at my journal, it was because I would get impatient and buy quickly instead of waiting for a better entry.
Then I’d get shook out right before the price jumps up. 🍃
The evidence was clear.
From there it’s just a matter of tweaking strategy to optimize performance.
What has your trading journal taught you?
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