I've been back to trading for a few days, and I just feel exhausted. When I look at the market, I don't even want to touch it anymore. I just want to get a good night's sleep. It jumps up and down, thinking you can't live without it... Be your own master.
I suddenly realized how great it would be to have Ant Warehouse lead the trades: I could admire the beautiful candlestick charts and watch the market makers, and if I got lucky, even con people out of some money. Evil thoughts are creeping in—Amitabha.
$AGT : The results are completely wrong, and so is the process. Burdened by debt and focused on making my money back, even a correct trade still leaves me uneasy.
$AGT Luckily, I missed it. Otherwise, I’d have been swinging back and forth between profit and loss. At least, in hindsight, it was the right call: when it’s time to get out, get out.
$AGT Curious—the altcoin market is so small. Could any big shot from the Square come over and trigger a huge pump? It feels like altcoins are still getting a decent amount of attention right now.
Still losing sleep, wanting to trade altcoins for big gains while also wanting to check the market for just a few hours a day like a long-term investor. You can’t have it both ways.
Trading log I’d only just started trading again, and already I was up all night. I just wanted to test the waters, then QUSDT and $AGT came along 🤡 Busy all day; when I get a moment, I sleep beside the mountains. This trade is finally over. I should take stock of it, too. I’d say I’ve only managed to fix half of my old bad habits, and now I’ve run into new problems. There are two cardinal rules in a trading system: use stop-losses, and never add to a position while it’s in the red. Breaking these rules was the main culprit behind all those previous blowups. This time, I didn’t add to my position while it was in the red, so at least I didn’t speed up my own demise. Still, figuring out where to set a stop-loss and having the discipline to stick to it have definitely cost me a lot. Even if the market eventually proves you right, it doesn’t mean much if you’ve already been shaken out or are stuck holding the position. It also leaves you constantly on edge—you have to keep a close eye on the market, no matter how big your position is.
I’d only just started trading again, and already I was staying up all night. I just wanted to test the waters, and then I ran into QUSDT and $AGT 🤡 I opened the position at 0.07 and somehow held on through 0.2+. Busy all day long; when I finally get a break, I sleep alongside the mountains.
This trade is finally over, so I’ll take stock of my trading, too. I’ve only managed to change half of my old bad habits, and now I’ve run into new problems. There are two inviolable rules in a trading system: cut your losses, and don’t add to a losing position. Breaking these rules was behind all those blowups in the past.
This time, I didn’t add to the position while it was in the red, so at least I didn’t hasten my own demise. Sticking to stop-loss rules and acting decisively has definitely been painful. Even if the market eventually moves in the direction you expected, it doesn’t mean much if you’ve already been shaken out or are stuck holding a position. It also leaves you constantly on edge, glued to the market no matter how big your position is.
Another issue is frequently hedging against the trend without a sound basis, even while firmly sticking to stop-losses. It’s unnecessary, causes substantial losses, and can’t hedge away all the profits. Looking back, it was just patching over mistakes—completely pointless. So from now on, I need to get it right from the first step: have a sound basis, then cut the loss decisively.
What are the benefits of cutting losses decisively? You save time and make better use of your capital. You have plenty of time to rest your mind and look for new opportunities. Your capital is also put to much better use, rather than tying up enough margin to keep holding a losing position.
Know yourself. On the road to conquering yourself, you keep moving farther and farther ahead.
$Q I took a look at the share of holdings held by the top 10 addresses. It was 55%, and now it’s 56%. How is an address that can issue unlimited amounts and already holds so much adding to its position?