This was one of the most heartbreaking wins I ever had...
BTCUSD
was a pair I had been building a relationship long before I ever made this entry. This pair is extremely volatile. I mean it is crypto! I decided to dable because I had a high probability setup. Although the price did go my way, I got greedy and decided to hold overnight. Big mistake. I nearly went back into drawdown the following day, but i set my SL in profit, in case i walked away from my laptop. Unfortunately, what was my biggest trade, ever turned into a brace for near disaster. If only I set some parameters, such as a TP 1 & 2 I would have secured more profit! This is not going to be my last rodeo with crypto, but I like to share that a plan and mindfulness are key, to trading a highly volatile instrument such as bitcoin.
DID I FOLLOW MY PLAN?
Yes, I identified enough confluences to take the trade!
WHAT DID I DO WELL?
1. I allowed price to Break Structure of my Trend line.
2. Identified a Reversal Chart pattern
WHAT CAN I DO BETTER?
Set a Take Profit as I am in the trade to secure profits.
WHAT DID I LEARN?
This pair is most volatile.
DID I PREPARE PROPERLY?
YES, I measured my confluences.
I went with the flow of the trend.
WHY DID I TAKE THIS TRADE?
Saw a order block bounce!
WHAT IS IT YOU WERE SEEING?
The momentum of the overall pair going bullish.
GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
When in doubt, pull out! Its no need to prove yourself to the market!
WHERE DID YOU EXIT?
64,792
WHICH SESSION DID YOU EXIT?
USA
BTCUSD
was a pair I had been building a relationship long before I ever made this entry. This pair is extremely volatile. I mean it is crypto! I decided to dable because I had a high probability setup. Although the price did go my way, I got greedy and decided to hold overnight. Big mistake. I nearly went back into drawdown the following day, but i set my SL in profit, in case i walked away from my laptop. Unfortunately, what was my biggest trade, ever turned into a brace for near disaster. If only I set some parameters, such as a TP 1 & 2 I would have secured more profit! This is not going to be my last rodeo with crypto, but I like to share that a plan and mindfulness are key, to trading a highly volatile instrument such as bitcoin. DID I FOLLOW MY PLAN?
Yes, I identified enough confluences to take the trade!
WHAT DID I DO WELL?
1. I allowed price to Break Structure of my Trend line.
2. Identified a Reversal Chart pattern
WHAT CAN I DO BETTER?
Set a Take Profit as I am in the trade to secure profits.
WHAT DID I LEARN?
This pair is most volatile.
DID I PREPARE PROPERLY?
YES, I measured my confluences.
I went with the flow of the trend.
WHY DID I TAKE THIS TRADE?
Saw a order block bounce!
WHAT IS IT YOU WERE SEEING?
The momentum of the overall pair going bullish.
GIVE ME A BRIEF SUMMARY IN 1-2 SENTENCES:
When in doubt, pull out! Its no need to prove yourself to the market!
WHERE DID YOU EXIT?
64,792
WHICH SESSION DID YOU EXIT?
USA