One idea that has been very useful in changing my trading habits these past two days is about missing market moves. People always say missing a move feels worse than losing money, but in reality, as long as you don’t place an order, there is no actual loss. Remember, if you don’t place an order, you’re just watching from the sidelines; there is no loss and no cost.
The real cost is never missing out; it is being wrong. Missing out just means you didn’t make money, while being wrong is what truly loses money. Many people can’t tell the difference between these two things and always feel that failing to catch an opportunity is the same as losing money.
Then, because of regret, they rush to find the next opportunity to "make it back," and as a result they enter the market when their emotions are at their least stable, making it very likely they’ll be wrong. That mistake is when the real losses begin. The principal is gone, and their mindset is broken too—losing on both fronts.
One of the fairest things about the market is this: there is never a shortage of opportunities. The move you missed this time will be followed by another one later. If you didn’t make it this month, there will be new ones next month. As long as you are still here and your capital is still here, opportunities will always be there.
But if missing out throws off your rhythm and you force yourself to chase or gamble, then you may still be here, but your capital may no longer be. $USELESS
I topped up 1,490 U last month as principal. I converted 10,000 RMB, and after losing, I only had 12 U left. Then I switched to withdrawing to a cold wallet. Last night, I withdrew the coins accumulated in the cold wallet. After I sold them to pay off my credit card, I had a Qingming dream. I woke up at around 4:00 a.m., grabbed my phone, and checked the market. At that moment, I felt impulsive—thinking I could double this round of money and pay off my loan. But my past experiences reminded me that in this kind of moment it’s very easy to end up at zero, because I only thought about profit and didn’t consider how much I could lose. Before placing a trade, had I actually prepared for how much I was willing to lose? I hadn’t thought about it. Then it occurred to me: trading is a game of losing less. Losing less is the real kind of profit—so I held back.
Later, I saw that if I had actually placed the order then, I would’ve been stopped out. The market also genuinely didn’t move in the direction I expected, and it kept going wrong for me several times. Then another sentence reminded me: I was only watching and missing opportunities, but I hadn’t actually incurred a loss. So why should I be anxious about missing out? I hadn’t lost money. So I held back.
From around 4 a.m. to a bit after 6, I missed a huge wave of upside action. But again, I told myself: I didn’t have any actual loss—so I held back. After seeing a big surge followed by a sharp drop, I predicted that the move might be over and that a reversal was coming. I saw an opportunity, placed an order, and it almost instantly started to get me back on track—profit nearly recovered. I closed the position immediately. The whole holding time was only 3 minutes. Price drops often move faster than price rises because human fear spreads quickly, so short positions usually need to be closed as soon as possible. Plus, my past experience told me that after making a big gain, I should withdraw and stay away from the market. So I immediately withdrew both the principal and the profits, then paid off my credit card in full right away. And yes—I really did what I had wanted at the time: make a big profit and then repay. Trading is just that hard. #trading #trader$AKE
I haven't updated the article for 5 months. Today I suddenly thought of my first transaction. This order was successfully recharged on the evening of June 26, 2017, for only 123 yuan. I wonder if there are old fans who still remember this website icon. The transaction volume of this website ranked first in the world at that time, and then it was closed after the September 4th Incident. It is Yunbi.com. I can still open the domain name now. I just tried to log in to my account. It is considered conscientious. It has been 7 years since I first came into contact with the cryptocurrency circle. To be honest, I didn’t make any money. Later I even got into debt. What really made me continue to make money was entrepreneurship and work. In the cryptocurrency circle, I made small money from spot trading and lost a lot of money from contracts. In the end, the money I made from spot trading was lost by contracts. So, contracts are poisonous to me.
This picture tells us that without a stop-profit and a stop-loss, we will die miserably. If we have a stop-profit and a stop-loss, we will die miserably if we chase randomly. I used to like this kind of thing, and I will remember it after a few losses. Now I don’t dare to touch such extreme fluctuations in currency prices. It’s quite interesting to watch its performance quietly. The fluctuations in the currency market will make me shout “fuck me” from time to time #TRB #4000Ustarted
Starting from 4000U - Almost making back the money
Yesterday, I kept watching the market and trading for a day, and then I came back. Although it didn't reach 4000U, I accepted it was insufficient and imperfect, so I let myself go. I was really tired. I didn't go to bed until almost 12 o'clock last night. I went to bed at 5:30 in the morning. Wake up, my trading method is still the same as when making contracts, short-term breakthroughs. It may be that in order to recover funds as soon as possible, I have been keeping an eye on the market and waiting for opportunities. As a result, most of my energy is focused on the market and I am not so active at work. In fact, only now do I know that my trading method is right-side trading, that is, I only enter the market when the market stabilizes. I must have developed it while practicing making contracts. The advantage of entering the market on the right side is that I have a defensive point and stop loss. Good setup, the market has stabilized, but the disadvantage is that you can never buy at the lowest price. If you are long, you can't sell at the highest price if you are short. This is determined by the method. So because I was trading on the right side, my trading method naturally became a breakthrough trend trade. These trading habits and systems are slowly formed after a lot of practice and market adjustment. Because everyone's personality and preferences are different, you have to see a little bit, and you can't just copy others when you see them making money. You have to know what you are doing. He and he are two completely different people, just like you and I are two different people. This is why traders are so strange. It is also because of this that the market is ever-changing, making it difficult for you to guess and understand. And you and I can only understand what we understand. A senior once said that you can only choose one between trend trading thinking and shock trading thinking. After reading it, I don’t know which kind of thinking is suitable for me, and I may not be able to distinguish the specific differences between the two. But now I seem to be sure that I have a breakthrough right-side trend trading mentality, because among my large number of stable profitable orders, this kind of orders account for the majority, and they are also the orders that make me feel at ease. In addition, these days I only trade spot trades without leverage, and choose orders without switching between long and short positions, which allowed me to gradually see my own methods clearly. But in fact there are still shortcomings, that is, I am too tired, watching the market and waiting for opportunities, and my whole attention is absorbed by the market. When I went out for dinner yesterday, a solution I thought of was to take this matter less seriously. Important, naturally I won't be attracted. Of course, the other thing is that I don't want to miss any opportunity that makes me like this.But this is unrealistic and cannot last long, so we have to continue to explore. Do you have any good methods? I plan to go out for shopping today, otherwise the great weekend will be wasted. Maybe trading is a lifetime thing, so there is no need to rush and enjoy it slowly. #BONK #4000U起家
Before going to bed last night, I saw an opportunity on the bonk spot one-hour line, so I bought it and went to sleep. When I woke up in the morning, I saw that it had fallen, and I saw that it would fall further, so I stopped loss. I did not set a stop loss for the spot, but the subsequent orders will have a stop loss even if they are spot. Binance does not have a planned entrustment function, so I have to study how to set it better. I just looked at the stop-profit and stop-loss functions, and the entrustment price does not have the market price option. This is not as convenient as OKX, because there will be slippage, and the transaction will not be completed after being triggered, so the entrustment price must be set lower than the trigger price.Then I got used to the previous short selling. In fact, I am also good at short selling and I like it more because the fear comes quickly. I am still a little uncomfortable to switch to long spot without leverage. The uncomfortable point is that I have to wait for a long time and can only look at the cycle of more than one hour. Because there is no leverage to magnify the amount, the time period must be long and the fluctuation space is large.
Yesterday I recharged 4127U, but because I missed 1000sats in the morning, I traded impulsively and was a little confused. I adjusted my mentality today and waited for the opportunity. #4000U起家