Chop-chop -> worst market environment for my style.
I'm 100% cash, not much progress since last week, but I'm happy I could hold onto my winners and not give back basically anything.
My biggest lesson right now is to learn how to be more selective with my trades. Even though I risk MUCH less than before so even if I mess them up it doesn't have much impact on my results, they still add up. If I take 10 losing trades of 0.3% risk (which is not at all uncommon in this environment), that's still a 3% drawdown that could have been avoided just by sitting on cash. My FOMO is something I need to work on and not feel bad for missing trades. I need to develop probabilistic thinking more and realize that missing a few trades doesn't matter in the grand scheme of things. But damn this lesson is hard.
I'm 100% cash, not much progress since last week, but I'm happy I could hold onto my winners and not give back basically anything.
My biggest lesson right now is to learn how to be more selective with my trades. Even though I risk MUCH less than before so even if I mess them up it doesn't have much impact on my results, they still add up. If I take 10 losing trades of 0.3% risk (which is not at all uncommon in this environment), that's still a 3% drawdown that could have been avoided just by sitting on cash. My FOMO is something I need to work on and not feel bad for missing trades. I need to develop probabilistic thinking more and realize that missing a few trades doesn't matter in the grand scheme of things. But damn this lesson is hard.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.