Trading Positioning: High leverage intraday trading, generally holding positions for 2-12 hours, taking profits and timely stop loss.
I was a bit tired yesterday, so I didn't write. Let me briefly summarize yesterday's situation.
- Trading too frequently, always thinking about not leaving funds idle, so I rushed into several coins. There were both long positions and short positions following the brief decline of the market. Frequent trading makes it difficult to grasp entry points, resulting in multiple stop losses triggered and increased transaction fees.
- I will never play coins manipulated by winter mute again, specifically mentioning Blur and Arb. The price increase is real, but the manipulation is also real. Anyway, my trading strategy is easily fooled.
Yesterday, I watched @BryptoBheem's streaming on YouTube and got some inspiration. While looking for entry points, it is also important to pay attention to the resistance levels of the coin. If there is enough room, there is a possibility of a significant increase.
Taking WOO as an example, you can see on the 4-hour chart that there is no significant resistance formed within the range of 0.2630 to 0.3430, so there is a possibility of a straight upward movement. It's a bit of a pity that I didn't go long in the morning because my position was not enough.
Overall, there were fewer mistakes today, and I learned from the lessons of the previous two days and achieved the following points:
- Reduce frequent trading. After finding trading opportunities on the 5-minute chart, always check the 30-minute and 1-hour charts before trading to confirm the trend.
- Analyze the charts in advance in the morning, select coins with potential for the day, and analyze them one by one. This way, when the market arrives, I won't panic and blindly jump in.
- For long positions, wait for the trend of bottoming out and rising before entering, instead of blindly pursuing the lowest position. For high leverage trading, entry points are really important. If it falls, just stop loss.
- Be cautious about chasing highs and be cautious about entering after the rally starts.
✅ ATOM#
- Went long all the way according to the trend line and made good profits. Took profits and exited after confirming the break of the trend line.
- I was in a hurry with the entry point and should have waited for the upward trend to emerge. Almost hit the stop loss. To prevent sudden price changes, when the direction and support level are clear, you can enter 50% first and then consider adding another 50% if the trend continues to decline.
- When there is a significant price breakthrough before the trend ends, it means it's time to exit. Don't hesitate, take profits and don't lose.
❌ RSR#
- Didn't notice that the upward trend was already weakening. Entered after the breakout of a small range of consolidation, but ended up falling along with the market. Exited with stop loss amid the sharp rise of many other coins.
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