TRADING JOURNAL
A trading journal is a powerful tool meant to help become a profitable and stronger trader. Essentially, it is a written record of what happened during a trade.
1. Follow THE rules
- Speculate what markets wants to do
- Be inline with technical aspects
- Follow smart money and supply/demand zones
- Buy at support and sell at resistance
- After three losses, stop trading
2. AVOID mistakes
- Do not chase the price
- Stay patient (wait for pullbacks)
- Max 10 trades a day
- Max loss a day 30 USD
- You are Manager of your trade and Market is your boss
18/04/2022 – 24/04/2022
Comments
- This week there is a crypto sell off, but i do not participate in this actively.
- My main focus is on investing instead trading.
- I have invested in MET Metroverse NFT token which is overperforming all competitors while is extremely low in market cap. Available only at UNISWAP with price potential 100x.
- BUT as you can see apparently MET price is falling second week in the raw after heavily investing from same guys who sold out earlier and took profits.
- However when i observe similar staff in the past we can see that price went up after investors left it and sold off. This hypothesis means that price needs ~2 weeks after reverses. Lets check it out soon.
4. Weekly summary
- This week approach has changed, i have invested in NFT because got budget from CHF loan. Expecting to get 10x which will change life exceptionally. BUT.. as of today i am almost 50% negative which is sad. I will really need 12-24m to change sentiment and become profitable.
- Few stupid pseudo trades on BTC and SOL with 100x leverage which cased closure of my open position while i was right in the general direction.
- MET price has dropped and i am again loosing money. Crypto market may expect crash within 2022 by half and some of NFT projects may never recover to all time highs or half of those prices.
- DCA – dollar cost averaging, i have failed in this strategy and bought 100% at one price which is too high. Price was regularly falling down by next 50% so i could have 100% more assets comparing i have now (700k instead 350k) for SAME MONEY !!!
- PROCESS – This week i have heavily invested in crypto NFT. There is a chance to decrease value by half or more but there is also solid chance to get 10-20x from investment within next 12-24m. This is valid.
- MONEY – Current ROI in investment is negative. Cannot do too much about that, only wait and HOLD.
