Yes, your suggestions are valuable. Recently I am also adjusting my state. It’s really cool not to watch the quotation sheet all the time!!! I will enjoy this time and improve my cognitive level
Yeah, I relate. My judgment most of the time is wrong when it comes to the market and that's why I don't want to continue and be pushy with my trades. If I go along with one trade and got a lost and my analysis got wrong, I'm stopping as much as I can and go back for being an investor. I invest in different projects but with only the little I have because most that I've got is in bitcoin and I don't want to sacrifice my funds there because of my wrong judgment and inaccurate predictions.
You are one of the best investment types I know, and your trading philosophy is what I need to learn. I’ve always wanted to ask a question, and I’ve never asked it here before. In the Bitcoin forums, most of the Bitcoin holdings are now wealth-free. In addition to the administrator and the Bitcoin startup team, the rest are also Have you got it from the beginning until now? Your experience in the middle must be the most exciting and exciting. Holding Bitcoin is a smart person's choice.
There is a very interesting thing that makes me a bit dilemma. Whenever I consider whether to look at an upward or downward trend in a trading cycle, things are always in the opposite direction. What is even more incredible is that when I want to abandon this transaction, the story is again It's the opposite direction.
1. Good speculators are always waiting, always patient. Waiting for the market to confirm their judgment
2. Don't completely trust your judgment until the market's performance confirms your opinion
I know exactly how that feels but you should know that if the market is going against you then there is probably something that you are doing wrong.
Until a few months ago I used to trade and make losses instead of profits because the market always used to go against my prediction.
Then I started learning analysis and started using stop losses on my trades. So far it has been beneficial and the most important thing is to be patient and let your orders execute.
Most often when put a buy or sell order we tend to put it based on emotions on not based on analysis.
Our buying and target price should be specific and by placing stop losses we can minimize the losses and find out where we are making mistakes.
The more mistakes we make the more we learn and at some point we start making the correct predictions and gain profits.
This is the turning point from where our profits and real trading experience starts.
Yes, we need to set stop loss and profit when we judge a trading cycle from the beginning of buying. There should be a callback value, its own standard. Don't speculate easily. Only under the premise of guaranteeing its own financial security can it proceed.
1. Good speculators are always waiting, always patient. Waiting for the market to confirm their judgment
This is the greatest item every trader/investor needs. If Patience were an app, I would advise everyone to head to playstore or apple store and get one. Patience is a virtue when it comes to trading (even in other spheres of life too). It tasks investors to wait. Sometimes, the wait could be for days to get the seemingly right entry level. Sometimes, the wait could even cause one to miss out on trades because no one truly knows how dip a trade could go. No one can truly pick out a bottom.
2. Don't completely trust your judgment until the market's performance confirms your opinion
This is why Stop Loss is necessary. No system is perfect, let alone indicators. Systems fail, so also do indicators. Trades won't always go one's way or predictions and when they don't, it doesn't mean that one's system or judgement is wrong. It simply means that one should review one's approach then.
Yes, the time factor is very important. No one will sell to the highest point and buy at the lowest point. Just not greedy.
1. Good speculators are always waiting, always patient. Waiting for the market to confirm their judgment
2. Don't completely trust your judgment until the market's performance confirms your opinion
Crypto market is always known for its tricky movements. Because, you might be experiencing only top most volatile things but you may not able to get the underlying direction of market which is the reason most naive traders are getting trapped over the time regardless of how much time they are spending for technical analysis or buying signal some others.
To solve all these dramas, you can simply switch over to long-term holding so that you will never need to concern about what is going to happen in next hour or in upcoming week but you can simply keep on holding so that you will gain big profits after years of holding.
Yes, it seems that long-term holding is the biggest winner. I try to forget the numbers in my wallet, and I fail every time. This has changed from regret at the beginning to ashamed to the senselessness now. This is my current state, I still need to adjust him, you are the reminder of my study.
The point is in trading mental strength and must be able to think positively when being hit by a bear market. at least it will control your emotions and not let FUD rule your mind. always try to control the mind and think everything will be fine then go back to the price recovery. Just being patient is not enough, you have to be really extra sure what you are holding is what you chose from the start.
Trading always gives all traders red and blue cycles but all have their own ways and methods of when and where they have to make decisions.
What you said is very correct, long-term holding, if I did not personally operate, I would not feel that I have to learn in this direction.
Always remember this: "Plan your trade and then trade your plan", there's no better thing than this if you want to start your trading career. If it's a wrong trade always program your mind that the next time you do it better.
There are too many factors you are on the opposite direction and one of it is your emotion, if you let your emotion on the frontline of your trade expect things a little bit messy. Trading is planning and you need to master it day by day, even professionals still learning everyday - it's a lifelong learning.
Yes, I agree with your point of view, and I will do the same. Keep trying.