I love when my trading journal makes me money.
Or, in this case, saves me from losing it.
Theres tons of opportunities to trade out there, but not all opportunities are created equal
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I used to focus on trading the coins that had tons of action with wild swings in price
New exchange listings, the hype coin of the week, those kinds of things.
The potential to win big, and quickly, is definitely there. 🎯
But I found I wasnt hitting those wins often enough.
Instead, I was hitting my stop loss more than normal.
Looking back at my journal, it was because I would get impatient and buy quickly instead of waiting for a better entry.
Then Id get shook out right before the price jumps up. 🍃
The evidence was clear.
From there its just a matter of tweaking strategy to optimize performance.
What has your trading journal taught you?
To begin with I congratulate you for keeping a trading journal, most people do not and that is why they never learn about their mistakes and what they can do to improve their strategies, however be careful it is very easy to over-optimize your strategy, while in paper this will make it seem as if your strategy is now a winner the truth is that the conditions of the market never repeat themselves, also if you are investing in coins with such high volatility your risk of ruin could be very high if you do not limit your position size.