$BTC This week has been pretty flat, but last week I already had enough ups and downs 💀. 7-day recap: 12 trades closed, 6 wins / 6 losses, 50.0% hit rate 😅. Definitely nothing to be proud of.
Breaking down the losing trades, most were Longs. ERAUSDT Long 0.0932 failed after breaking the 0.082400 level. SOXLBUSDT Long 64.44 also lost when it hit the 58.000000 invalidation level. Likewise, ONEUSDT Long 0.00173 and GNSUSDT Long 0.455 were knocked out after breaking the 0.001600 and 0.420000 levels. ✍️ Clearly, I was too biased toward Longs when the market hadn't shown any clear bullish signals. I should have stayed out or waited for stronger confirmation.
Fortunately, a few trades helped make up for the losses: BARDUSDT Long 0.1325 hit 0.145000; PEPEUSDT Short 0.00000456 hit 0.000004; INITUSDT Long 0.1991 hit 0.235000; SOXSBUSDT Short 57.27 hit 54.000000. Interestingly, the Short trades played out more smoothly. This shows I need to be more flexible when reading the trend instead of fixating on Longs.
Lesson: Don't try to catch the bottom too early without strong signs of confirmation.
Breaking down the losing trades, most were Longs. ERAUSDT Long 0.0932 failed after breaking the 0.082400 level. SOXLBUSDT Long 64.44 also lost when it hit the 58.000000 invalidation level. Likewise, ONEUSDT Long 0.00173 and GNSUSDT Long 0.455 were knocked out after breaking the 0.001600 and 0.420000 levels. ✍️ Clearly, I was too biased toward Longs when the market hadn't shown any clear bullish signals. I should have stayed out or waited for stronger confirmation.
Fortunately, a few trades helped make up for the losses: BARDUSDT Long 0.1325 hit 0.145000; PEPEUSDT Short 0.00000456 hit 0.000004; INITUSDT Long 0.1991 hit 0.235000; SOXSBUSDT Short 57.27 hit 54.000000. Interestingly, the Short trades played out more smoothly. This shows I need to be more flexible when reading the trend instead of fixating on Longs.
Lesson: Don't try to catch the bottom too early without strong signs of confirmation.
