Forwarded from Crypto Narratives
If you took a sizable drawdown from your port ATH and it makes you psychologically unable to close positions at significant losses
Decide which amount you absolutely need to have in USD if shit really hits the fan
Sell enough of your positions to make sure you have this amount of cash, and put it away
Trade/invest with the remaining
Another option is to have a mental stop loss on your whole net worth and go flat whenever it is hit
It's not comfortable and you very likely won't sell at an optimal time, but at least if gives you a clear framework for the emergency situations, and it will prevent you from compounding stupid decisions that can make you go to zero
Decide which amount you absolutely need to have in USD if shit really hits the fan
Sell enough of your positions to make sure you have this amount of cash, and put it away
Trade/invest with the remaining
Another option is to have a mental stop loss on your whole net worth and go flat whenever it is hit
It's not comfortable and you very likely won't sell at an optimal time, but at least if gives you a clear framework for the emergency situations, and it will prevent you from compounding stupid decisions that can make you go to zero
Forwarded from Konoha Research Academy
promise to sell eth at 2.1k this time?
Forwarded from Birds of a Feather
My trade frequency has materially decreased in the last few weeks. I've become stricter and more disciplined to only take 4/5 or 5/5 trade setups and I think this has vastly helped my mental state + performance. Trading volume has dropped by 50-60% thereabouts.
Would recommend y'all look into your own frequencies especially if you keep trying to time every market move.
Would recommend y'all look into your own frequencies especially if you keep trying to time every market move.