The market has been choppy, but we have to face the facts. š
Of the 7 trades closed last week, 2 were winners and the other 5 were losersāa win rate of just 28.6%. I thought picking up spot positions would pay off, but reality was pretty harsh.
Letās break down the 5 losing trades first so we can all learn from them. Trade $SAND LONG 0.07187, entered on 5/10, went bust this morning at 0.065000. QNT 255.97 and HBAR 0.1044 also hit their invalidation levels early. GLMR 0.00997 and NOM 0.00303 went bust the very same day. š Clearly, I rushed into buying this time before the signals were truly clear, or set my invalidation levels too tight, leaving the price no room to breathe. I thought the price might rebound, but the market gave me no chance.
The two trades that helped recoup some losses, MOVR LONG 1.665 and SAND LONG 0.07274, both played out as expected and hit their targets. This week, it was more luck than skill. š
The lesson from this week is to be more patient, especially when volume is low, and not try to call the bottom just to take quick profits. Iāll adjust my strategy by prioritizing stronger signals and setting more reasonable invalidation levels to avoid getting stopped out by wicks.
Letās break down the 5 losing trades first so we can all learn from them. Trade $SAND LONG 0.07187, entered on 5/10, went bust this morning at 0.065000. QNT 255.97 and HBAR 0.1044 also hit their invalidation levels early. GLMR 0.00997 and NOM 0.00303 went bust the very same day. š Clearly, I rushed into buying this time before the signals were truly clear, or set my invalidation levels too tight, leaving the price no room to breathe. I thought the price might rebound, but the market gave me no chance.
The two trades that helped recoup some losses, MOVR LONG 1.665 and SAND LONG 0.07274, both played out as expected and hit their targets. This week, it was more luck than skill. š
The lesson from this week is to be more patient, especially when volume is low, and not try to call the bottom just to take quick profits. Iāll adjust my strategy by prioritizing stronger signals and setting more reasonable invalidation levels to avoid getting stopped out by wicks.