Many of you have asked about how to deal with perceived setbacks, so I wanted to share some of the principles that have helped me in moments like this. #principleoftheday
After successfully deviating and taking our RL from the previous range BTC now tries to keep its bullish momentum. Expecting this kind of organic movement.
#btc
The moment these $25K breakout traders give up longing it is when we'll see the proper breakout.
So far, we've seen quite a bit of long crowding into the breakouts which caused them to get flushed out shortly after.
Fear of being wrong typically leads to poor trade management.
- Closing around entry as soon as PnL flashes red
- Immediately jumping to low time frames to monitor a higher time frame trade
- Moving stop to break even as soon as possible even though nothing has changed
1/5
A weak mind must be constantly entertained and stimulated. A strong mind can occupy itself and, more important, be still and vigilant in moments that demand it.
"The modern mind is overstimulated and the modern body is understimulated and overfed.
Meditation, exercise, and fasting restore an ancient balance."
@naval