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This post is a continuation of the risk management article and summarizes my knowledge about crypto:
❄️ The reason for losses is not because you chose the wrong speculation, but your emotions. Greed is what prevents you from closing a profitable speculation in hopes of gaining more, and the feeling of revenge that makes you enter a trade to compensate for your past losses, which often ends up being the most losing trade.
❄️ My analysis or experience doesn't matter as long as my portfolio is losing; the solution is to take a break for a while and don't seek revenge on the market by entering compensatory trades.
❄️ Staying in the market is more important than making a profit because opportunities will not end...
❄️ Do not follow any analyst, including me, unless you verify them and ask them about their analysis on why they expect this to happen, what are the technical reasons that lead them to write this, what this number indicates, and what the solution is if their prediction fails. If they do not answer you clearly, do not follow them.
❄️ Do not enter any speculation late out of fear of missing the opportunity; the market is generally designed to trap anyone who enters trades late, whether after a significant rise or after a sharp decline.
❄️ There is a point called Invalidation, meaning that your speculation has reached a stage where you cannot continue. Do not be stuck and do not wait any longer; as long as your stop loss has been hit, do not wait because the structure of the currency changes at that time.
❄️ Do not resist... as long as the market direction has changed, do not speculate against it; make the trend your friend or as the English saying goes, 'Trend is your friend.'
❄️ The reason for losses is not because you chose the wrong speculation, but your emotions. Greed is what prevents you from closing a profitable speculation in hopes of gaining more, and the feeling of revenge that makes you enter a trade to compensate for your past losses, which often ends up being the most losing trade.
❄️ My analysis or experience doesn't matter as long as my portfolio is losing; the solution is to take a break for a while and don't seek revenge on the market by entering compensatory trades.
❄️ Staying in the market is more important than making a profit because opportunities will not end...
❄️ Do not follow any analyst, including me, unless you verify them and ask them about their analysis on why they expect this to happen, what are the technical reasons that lead them to write this, what this number indicates, and what the solution is if their prediction fails. If they do not answer you clearly, do not follow them.
❄️ Do not enter any speculation late out of fear of missing the opportunity; the market is generally designed to trap anyone who enters trades late, whether after a significant rise or after a sharp decline.
❄️ There is a point called Invalidation, meaning that your speculation has reached a stage where you cannot continue. Do not be stuck and do not wait any longer; as long as your stop loss has been hit, do not wait because the structure of the currency changes at that time.
❄️ Do not resist... as long as the market direction has changed, do not speculate against it; make the trend your friend or as the English saying goes, 'Trend is your friend.'
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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