The decision to go short yesterday, only realized how rushed it was during the review today. Although in the end I didn't lose but made a small profit, this is not the correct trading approach.
Look at the 2.25-2.33 range, support level, concentrated chips, and the upper trendline of the downtrend — three technical lines almost converge at the same point. This is a typical turning point, and the direction is unclear. When encountering such a situation, the smartest move is not to bet on a direction, but to wait.
Wait for what? Wait for the direction to truly emerge. Wait for the price to give you a clear signal. This is much more cost-effective than forced guessing.
Looking back, every trade should prompt three questions. Find three reasons to support this trade before taking action. If you can't find them? Then just hold off. Although this discipline may seem to cause missed opportunities, it actually helps avoid more pitfalls.
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CryptoSourGrape
· 14h ago
Damn, isn't this just a replica of me yesterday? Lucky enough to guess right and feel proud, so embarrassing.
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AirdropHuntress
· 14h ago
Lucky to make a profit, but that's just the gambler's mentality. Waiting until three lines intersect before taking action is what a sensible person would do.
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Token_Sherpa
· 14h ago
luck masked poor process, that's the velocity trap right there. won in spite of yourself, not because of anything...
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CryptoHistoryClass
· 14h ago
lucky guess masquerading as skill... the oldest tale in market history, really. statistically speaking, you just survived what took down 90% of the 2017 cohort doing exactly this.
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AirdropLicker
· 14h ago
Lucky to have guessed right, but it is indeed a gamble, and everyone aware and conscious of this understands it.
The decision to go short yesterday, only realized how rushed it was during the review today. Although in the end I didn't lose but made a small profit, this is not the correct trading approach.
Look at the 2.25-2.33 range, support level, concentrated chips, and the upper trendline of the downtrend — three technical lines almost converge at the same point. This is a typical turning point, and the direction is unclear. When encountering such a situation, the smartest move is not to bet on a direction, but to wait.
Wait for what? Wait for the direction to truly emerge. Wait for the price to give you a clear signal. This is much more cost-effective than forced guessing.
Looking back, every trade should prompt three questions. Find three reasons to support this trade before taking action. If you can't find them? Then just hold off. Although this discipline may seem to cause missed opportunities, it actually helps avoid more pitfalls.