Trading Strategy: High leverage intraday trading, typically holding positions for 2-12 hours, taking profits and setting stop losses in a timely manner.
Sunday's trading was focused in the evening, so it was too late to write a summary. These past two days, there were actually some significant issues with my trades, but they were offset by the big moves of ETH and BTC in the evening, which made up for the losses during the day.
- Sunday daytime is really a terrible time for trading, so try to avoid it. Most coins have very small fluctuations, and only a few are manipulated by large players, making it impossible to trade based on price action. I incurred losses from repeatedly going short and long during Sunday daytime. However, based on experience, there will always be price fluctuations on Sunday evenings, so it's possible to find opportunities to enter the market.
- Hedging is not suitable for my high leverage trading. I tried breakout trading on Sunday evening, but it didn't work well. Breakouts can only be traded through pre-technical analysis and proper risk control in one direction. Taking ETH in the following chart as an example, when the trend line is contracting, if you open both long and short positions around 21:30, the long position will be hit by a false breakout of the trend line, and the short position will be in the wrong direction, making it difficult to profit. It can still work if you control the leverage ratio for long and short positions, but for me, the risk and difficulty outweigh the returns, so I won't consider it.
- Don't open positions before a potential big move in BTC, and if holding positions, try to align them with the potential direction of BTC. If it's difficult to determine, then only keep small positions. It's currently altcoin season, and there are only long opportunities when the big coin is oscillating or rising. Today, I also incurred losses because I opened positions before the Big Move.
✅ NEAR#
- Today, there were three consecutive situations where I picked the right coin but didn't exit in time, and it quickly went up and then came back down. Fortunately, I set a trailing stop loss to secure some profits, otherwise it would have been a wasted effort. There was also one that went up significantly and hit the take profit target I set in advance, which was a bit frustrating. From now on, I will set a 150% take profit target and not worry about it.