Despite guessing the trajectory for Ethereum over the last few weeks quite successfully , my trading profits have been " okay , " but not up to par with what I would accept as " worthwhile . " I even opened a short two days ago at support but got stopped out , instead of following my plan and opening a long . Why is that ?
. After all , much of my analysis up until this point has been a psychosocial exploration of collective human behavior and psychology . But it is hard to produce such material without experiencing the emotions and the second - guessing , and to some extent building more self - awareness . This post will hopefully help readers discover for themselves what works . In the end , it doesn't seem to be about predicting , but managing one's own behavior .
Here is the ETH / USD chart zoomed in on the 4H timeframe
Looking at the above , it seems like it could either fail at the $ 1700 resistance again , or head back up towards $ 2k in time for the " merge . " So again , it appears to be a guessing game . If I were still following this plan , I would actually attempt to scale into a short here , since the market seems to be overwhelmingly biased to the long side . Then , I would probably close that short quickly as soon as I see profit , since I do think price can still continue higher . you'll see I was able to get good entries consistently at resistance and support . But where could my performance have been better ? CLOSING . I noticed that when I would see my trades well in profit , I had a tendency to think , " Well , what if this time the range fails and it breaks support ? " In the 1400's , I felt that price could just sink lower to sub - $ 1000 , so why would I close there when I got such a good entry ? In simple
The solution , if I were to continue day trading is quite clear : Always close in profit , and especially if price reaches a pre - determined target level . There is a reason traders use TA , and that is to create goalposts and manage behavior ( not to predict ) . It doesn't matter how much the profit is . There is always another trade to be made , and it's better to build a habit of building your account up slowly , rather than trying to triple or quadruple it in a week . Granted , I ended up doubling the account overall , which still far outstrips the actual market performance since I began this day trading spree when ETH was $ 1800 + . However , there was a moment when my account was nearly 4x yet I did not close my positions . Ultimately , this proves that self - control and discipline are absolutely necessary . Bad day trading is way more common than " good " day trading . I'm an okay day trader , but it ultimately doesn't appear to be worth the time or stress . Instead , I like to look at broader economic cycles , as that tends to be where the greatest wealth is made . It was much easier for me to sell my crypto for life - changing money after waiting a few years than to sell short - term ETH positions for comparatively small profit . Maybe this means I should simply day trade with a larger amount .
Dr. Amir hossein heidary
Academy grs
. After all , much of my analysis up until this point has been a psychosocial exploration of collective human behavior and psychology . But it is hard to produce such material without experiencing the emotions and the second - guessing , and to some extent building more self - awareness . This post will hopefully help readers discover for themselves what works . In the end , it doesn't seem to be about predicting , but managing one's own behavior .
Here is the ETH / USD chart zoomed in on the 4H timeframe
Looking at the above , it seems like it could either fail at the $ 1700 resistance again , or head back up towards $ 2k in time for the " merge . " So again , it appears to be a guessing game . If I were still following this plan , I would actually attempt to scale into a short here , since the market seems to be overwhelmingly biased to the long side . Then , I would probably close that short quickly as soon as I see profit , since I do think price can still continue higher . you'll see I was able to get good entries consistently at resistance and support . But where could my performance have been better ? CLOSING . I noticed that when I would see my trades well in profit , I had a tendency to think , " Well , what if this time the range fails and it breaks support ? " In the 1400's , I felt that price could just sink lower to sub - $ 1000 , so why would I close there when I got such a good entry ? In simple
The solution , if I were to continue day trading is quite clear : Always close in profit , and especially if price reaches a pre - determined target level . There is a reason traders use TA , and that is to create goalposts and manage behavior ( not to predict ) . It doesn't matter how much the profit is . There is always another trade to be made , and it's better to build a habit of building your account up slowly , rather than trying to triple or quadruple it in a week . Granted , I ended up doubling the account overall , which still far outstrips the actual market performance since I began this day trading spree when ETH was $ 1800 + . However , there was a moment when my account was nearly 4x yet I did not close my positions . Ultimately , this proves that self - control and discipline are absolutely necessary . Bad day trading is way more common than " good " day trading . I'm an okay day trader , but it ultimately doesn't appear to be worth the time or stress . Instead , I like to look at broader economic cycles , as that tends to be where the greatest wealth is made . It was much easier for me to sell my crypto for life - changing money after waiting a few years than to sell short - term ETH positions for comparatively small profit . Maybe this means I should simply day trade with a larger amount .
Dr. Amir hossein heidary
Academy grs
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