Reflective Trading Question - page 2.

jrrsparkles

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Quote from: alastantiger on December 20, 2022, 11:57:21 AM

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I don't feel that bear market is too long than we expected when we compare with 2018 cycle so as a trader I didn't feel too much pressure about being bearish. Well, the trading journey is quite stable and this is the best phase for the accumulation so long term traders should utilise it as much as they can and for sure you can reap your profits later.

taufik123

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Quote from: Maus0728 on December 21, 2022, 04:59:43 AM

"Trade your plan, not your PnL"

hahaha, that's absolutely true, PNL makes us feel that the trade we made was very successful, even though it's just an indicator that isn't very useful just showing on the screen.

The trading plan is more important than that, because every trading step must be considered so as not to get caught in a situation that will be detrimental.

The bearish market throughout 2022 is a sign that we are getting closer to a bull market, we really have to prepare for it and hold some assets that do have good potential for the future.

Preparing a trading plan is one thing that must be done, apart from that a reserve of money is also very necessary to buy back when the market continues to go to the lowest price.

Maus0728

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Quote from: alastantiger on December 20, 2022, 11:57:21 AM

what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

This is just an advice I have heard from successful traders though. But here it is

"Trade your plan, not your PnL"

I know it is tempting to see the percentage you gain upon executing the trade, however if a trader based his decision on the profit/loss he sees on the screen, then there is a chance you will miss an opportunity or suffer a significant loss. Perhaps try turning off the PnL indicator? Cheesy

Stalker22

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It is certainly true that the cryptocurrency market, including Bitcoin, has experienced significant volatility and a bear market this year. However, it is important to keep in mind that the cryptocurrency market is influenced by a variety of factors, including regulatory developments, market sentiment, and the general economic climate, all of which can impact the price.

Depending on what type of trader you are, this can be a good thing. For some traders, a bear market can present opportunities to buy crypto at lower prices with the expectation that the prices will eventually recover. In other words, even though most traders would not wish to experience a bear market while they are trading, they can actually still benefit from them.

That being said, it is important to prepare yourself for a brand new year in the cryptocurrency world by learning how market trends affect the price of your favorite coins. If you know what you're doing and plan accordingly, even the toughest bear markets can provide opportunities to buy low and sell high.

Edwardard

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Quote from: alastantiger on December 20, 2022, 11:57:21 AM

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the bear market would persist this long.

All Thanks to FED's continuous interest rate hikes, russia ukraine war fuds in between, luna debacle, ftx collapse and whatnot lmao.

Quote from: alastantiger on December 20, 2022, 11:57:21 AM

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

I dont think most traders are still strong or survived 😁. Even the institutions got rekt like 3AC, Celcius, etc. But yeah, BTC will make a comeback anyways.

Quote from: alastantiger on December 20, 2022, 11:57:21 AM

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I learnt that the TA guys are full of nonsense, fundamentals are more important than technicals. And the "funding rates strategy" kept on scamming traders since 60k, (negative = long, positive=short). Now I always follow main twitter accounts like elon musk, CZ, saylor, etc. Their actions on twitter move the markets and liquidates short term traders pretty fast if they just follow TA lol. And avoid trading during FOMC meetings or CPI data announcements.

alastantiger

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The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

Topic: Reflective Trading Question - page 2. (Read 305 times)