Trading, NOT SELLING STEEM | UPDATE III: What I have learn so far...
I have not been trading STEEM, I am holding half of my PF on STEEM the other Half is in BTC either hunting good T.A and fundamentals or waiting for a significant drop of price in STEEM to get back in.
I have missed several +10% / -10% movements because STEEM is almost impossible to read.
The Current STATE Of My Steem
- 6588 STEEM liquid (not counting what is in my accounts to buy BOTs)
- 7137 (Actually: 0.57 BTC that if bought at current price would mean that much STEEM)
Total: 13700 STEEM (up 1700 steem)
Yesterday, during the bloodbath, I played FOMO with 0.12 BTC I had lying around left overs from missed sell opportunities I dumped it all and tried to sail the BAT ship... got out with a 18% loss, (0.1 BTC) entered MTL and got out with +10% (1.1) lastly got in AST and could have sold at a good price but forgot to set the order so i'm back down another 10%
Which proves that FOMO is the best way to either loose money or break even at best.
These are the lessons of this week I have spent trying to play with T.A and earn discipline.
- Next call i will enter with a Risk size of 4% not my usual 2%
- Sell 50% @ TP1 - Leave 50% for TP2 (Thus cutting down the risk back to 2% from TP1 on)
- Hopefully I will be using the free Stop loss @aqfaridi said will disclose .
I will stick to the Plan
- Also will make sure i enter properly (on breakout)
- And I will not look at the 1 minute / 5 minute timeframe.
- Buy the coin, set SL / TP and forget
"Plan the trade and trade the plan".
What do you think?
Over the long term I need to be Bullish on STEEM hopefully I will be able to put more SP on my account once i finish this operation.
Yes, don't trade on emotions follow a strategy. Check out botje11 on tradeview he is my go to resource for TA.
I will take a look thanks!
I made a small binance account with 10% of my PF to be able to vent my emotional trading hahahaha
Right now that account is all in $MTL
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