On Saturday evening, I entered an XRP trade and an ETH trade as shown in the picture.
The strategy I set is to buy at the bottom and sell when institutions start entering the market; then the price rises. I have been using this rule for a long time to reap profits at the level.
But this week, an idea struck me as follows:
Since two weeks have passed and the bullish momentum is still there and cryptocurrencies are still rising, why not leave these trades until the end of the week, either Thursday or Friday morning?
Monday came, and the profit reached up to 500 dollars, and I did not close the trades.
In fact, it was a very stupid idea.
Tuesday came, and I did not close the trades. The bullish momentum began to decrease, and the cryptocurrencies started to decline. My profits reached 350.
Then 300
Then 250, here the mind began to awaken from the influence and illusion that I had immersed myself in. I realized that I had deviated from the working strategy.
I did not think twice until I went and closed the two trades with a profit of 230 dollars.
The lesson: When you set a plan, do not try to break it. Stick to the path you have drawn and do not try to draw a new path.