Search results

Been there; done that. Never again. Too hard on the psyche. I need to protect my capital and what's left of my mind.

I'm not disagreeing that it could go higher. If right now you have 70K at what point do you sell if it starts to drop? I can understand the FOMO. But I have trouble grasping the reason one would hold on to an asset that is falling in value or that one feels is overpriced. Why would you hold...

Do you have a process to do this? Dump the whole position or scale out. Where and when?

What's the object of a core position? How big? Is there no risk control on the core position? Why hold a position if it's moving against you?

Just to clarify, we are talking about positions that have initially moved in your favour. I'm assuming that you have a stop in place when you enter the trade and exit your full position if that stop is hit. Or is the 2 day low process your exit strategy from the start of the process.

OK my question is if you are actively trading why would you hold during a downturn? When the trend turns why not exit and buy back lower? Why hold a position if you were not willing to buy at that price? The worst thing that can happen is the price starts to rise right after you sell. The best...

Why does the amount of capital make a difference? Wouldn't the process remain the same?

So you don't have an exit strategy. Just buy and HODL.

If you have access to the Canadian market there is an inverse bitcoin ETF. (BITI) The upside of using an ETF is you can only lose what you invest, unlike shorting a stock where you can lose a way more than you put up initially like happened to GME shorts.

Hold until when?

What is the process for scaling out.

I wonder how many tulips a bit coin would have bought at the top of the market. Always control your risk.

Write down what you plan to do.. Then go buy yourself an electric nail gun. When you don't follow your plan drive a nail into your leg. If you are trading small you can start with a stapler. Figure out what your afraid of. Losing money. Being wrong. Missing opportunities. Then ask yourself...

Think about it. You have a guaranteed profit but you turn it down because it might keep going up so you lose money. You consider that a missed opportunity. If you sell where you think you should instead of giving in to FOMO, and it goes up you have also lost opportunity. But in this case you...

Why do you think that?

You never get out at the top. You either sell on the way up or on the way down. One method I've seen promoted is to sell a portion on the way up and the rest on the way down. sell 1/3 at a target or a certain time into the trade; Sell 1/3 at a trend line or moving average and sell the last 1/3...

then it's a lottery. As a trader you have nothing to lose and with that short a time frame it's a coin flip. Consistency is what matters, not getting lucky for a week.

This seems to conflict with a tight risk management strategy? I have trouble considering averaging down a risk management strategy. Am I missing something?

Something similar to the US investing championship? Trader trades his own real money account. Minimum balance. Trade whatever you want. Who ever has the best results at the end of the year wins. If you go broke your done. No reloading.

I gotta disagree on that one. Way less stress swing or position trading. I'd rather spend my time on the golf course that in front of a monitor. I spent about 1/2 hour a day on trading, most of it when the market is closed. Very little stress.