A couple things about this trade. It was an accident. I got lucky, but with that being said I made the decision to hold and therefore I made the money. In life I rather be lucky than good any day.
Background of this trade. I was working on a scalping strategy and this trade happened to fall into place with it. I was making trades back and forth in a short period of time and made a couple hundred bucks. This trade went against me fast and I could not get out of it. I decided to hold the position and wait for the selling to stop. After I saw a base forming I decided that it was worth the risk to continue to hold. This is when we broke out of the range that we were in from the previous few days. I nailed the entry.... lucky. Anyway I traded the exit terribly and started to take shorts in spots that I shouldn't have giving back some of the profits on the trade.
I learned a lot from this trade. One being that I rather be lucky than good any day. Two I have a lot more to learn. I have had enormous success this year trading crypto, as I am sure many have. This market is growing and the competition is getting smarter. The moves are more advanced and the players are more advanced. This trade taught me that persistence pays off. The market does not care about you. It generates opportunities and you as a trader need to be there to capitalize on these opportunities.
Personally I need to work on my trading and focus on statistics. The edge lies within experience and statistical data. Those that do not grow and adapt with the market will parish and I did not come this far to fail.
Feel free to leave questions in the comments below!
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All information in this post is my opinions and my opinions only. I do not advise you to follow my alerts and or trades. Do your own DD.
