Being a trader is like being in a rollercoaster of losses , gains as well as rising and falling emotions. One minute your trade hits TP and you're feeling sooo happy, and the next, SL. Emotions comes in rushing, and choking. The saddest part is when you have no crypto or Forex-minded people for you to share with.
One thing I've come to understand is that, trading is not just about the Tech analysis. It encompasses that. Trading psychology and ability to handle one's emotions is also very important.
Above all, it's a good thing that you remained profitable. That means you won against your emotions. That's a plus to you. Hopefully, this week, goes well.
What strategy do you trade?
Honestly, I don’t have any grand strategy. I rely heavily on experience and intuition. I simply look at the current price of Bitcoin and the specific coin I want to buy.
My main rule is to buy the dip. I never buy out of FOMO—jumping in just because something is rising and I want to catch a train that’s already leaving the station. I also try to take quick profits rather than waiting days to cash out.
That's some solid rule you've got there. It's good to plot key zones and check some other confluences off the checklist before entering a trade.
People who trade out of FOMO tend to buy the sell, and sell the buy (if you know what I mean). I think it's slightly the same as revenge trading. Though in revenge trading, the trader is blinded by emotions, while in FOMO the trader is scared of missing out of a big move, thus, buying when they were supposed to wait for a retest. Both FOMO and revenge trading are actually not good for a trader though.
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