Every expensive decision I've made in this market happened when I was tired.
Not uninformed. Tired. There's a real difference and almost nobody accounts for it.
The market runs continuously, which sounds like an advantage until you notice what it actually does. It means your worst hours are tradeable. It means a chart can find you at 2am when your judgement is at its weakest and your appetite for a quick resolution is at its strongest.
Nothing about the setup changes at that hour. Everything about the person reading it does.
It doesn't matter whether the chart is Bitcoin at $78,551 or the smallest name on the board. The hour does more damage than the ticker.
Here's the practical version. Most people install rules about price and none about state. They know what level they'd act at, but not whether they should be acting at all given how they slept, how the day went, whether they're currently trying to make back something lost earlier.
That last one is the most expensive. Revenge is a strategy with a 100% failure rate and it never announces itself. It arrives dressed as conviction.
A simple rule beats a complicated system here. Decide when you are not allowed to open a position at all, and treat that boundary as seriously as any price level.
When did you last make a trade you couldn't have defended the next morning?
Sharing how I read it, not telling anybody what to do. Not advice, not an offer. Your decisions are yours.
#Crypto
Not uninformed. Tired. There's a real difference and almost nobody accounts for it.
The market runs continuously, which sounds like an advantage until you notice what it actually does. It means your worst hours are tradeable. It means a chart can find you at 2am when your judgement is at its weakest and your appetite for a quick resolution is at its strongest.
Nothing about the setup changes at that hour. Everything about the person reading it does.
It doesn't matter whether the chart is Bitcoin at $78,551 or the smallest name on the board. The hour does more damage than the ticker.
Here's the practical version. Most people install rules about price and none about state. They know what level they'd act at, but not whether they should be acting at all given how they slept, how the day went, whether they're currently trying to make back something lost earlier.
That last one is the most expensive. Revenge is a strategy with a 100% failure rate and it never announces itself. It arrives dressed as conviction.
A simple rule beats a complicated system here. Decide when you are not allowed to open a position at all, and treat that boundary as seriously as any price level.
When did you last make a trade you couldn't have defended the next morning?
Sharing how I read it, not telling anybody what to do. Not advice, not an offer. Your decisions are yours.
#Crypto