2025/01/21
Review and essays written before trading plan
1. Don’t short in a bull market. Don’t think you are awesome and can take advantage of both long and short positions. You are not a god.
2. Waiting is always more important than opening a position randomly. You may make money a little slower, but you should be steady and keep your mindset adjusted!
3. You can have subjective cognition, but don’t put cognition above the market! You think there is support and resistance. If you are right, follow the plan, if you are wrong, follow the market! Buy when you should buy, sell when you should sell! Even if you think it is too high or too low! Even if you think you shouldn’t buy or sell (the premise is that you must have a plan, and the daily trading plan must be completed! Even if you only trade big pie)
4, always remember to use light positions and low leverage. Why do countless futures tycoons on Wall Street jump off buildings?! Cut losses when you should, high leverage is unbearable. Money can be made endlessly, but losses can wipe you out quickly!
5, techniques can be honed, but principles and mindset must not be compromised! Standing on the shoulders of giants, you will become a giant.
BTC
Without a doubt, the big coin is bullish on the weekly line; it's a bull market! Although the 5-week and 10-week moving averages are converging, there may be short-term fluctuations. However, until there is a significant drop, one cannot determine that we have entered a bear market. Caution is absolutely necessary when shorting.
Today’s large bearish candlestick on the daily moving average has consumed several previous doji stars, and the 5-day moving average has failed to hold. It is worth noting that after the speaker did not mention virtual currency, the big coin held the 10-day moving average, but we still need to see Wall Street's reaction tonight.
On the 4-hour line, it is clearly observed that the candlesticks are getting weaker, in a state of chaos, and are currently below the short-term moving averages and between the long-term moving averages. Patience is needed.
All moving averages are under pressure on the 1-hour line, and the rebound is weak. Bearish.
Personal plan
1. I will not short at this price point; the long-term moving averages indicate a bull market. Holding short positions is a poor experience. I do not like to go against the trend.
2. Assess the long-term cycle and find opportunities in the short-term cycle. The current entry point is unclear; it may be near the convergence of the 20-day, 30-day, and 60-day moving averages (around 97000).
3. Enter from the left side, first fully invest at 1x leverage, then gradually increase (to prevent extreme situations, set a stop loss at 85100 with the 120-day moving average).
