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RE: Looking for the best entry for a trade
I think the mental side is what kills most people, they just can't stand the losing cycles, goes completely against human nature.
I think the mental side is what kills most people, they just can't stand the losing cycles, goes completely against human nature.
It's funny. I can handle the long term hits (my crypto portfolio is dropped to about 25% of its January value), it's just the short term trades that really stress me!
the problem is expectancy. If you have a system that wins 30% of the time but wins really big when it does, that could mean losing money for 8 months in a row and then winning for 3 months (and still be in good profit).
people just can't hack the long losing periods so they give up, or start gambling, breaking all the rules. They just need to tough it out and follow the plan.
Absolutely. Swapping systems at low points in them is the quickest way to incur a loss. When I started crypto trading I dumped coins left, right and centre every time they dropped in value. It took a few months to realise how the cycles worked (and how much profit I had been throwing away).