These are not really trading journals or anything. I'm just keeping track of what I learn everyday regarding trading. Most of what I learn is reading messages from Dada on discord and after a few days trying to apply it when there's an opportunity. So it's easier for me to look back at my blog to search for important information rather than searching through thousands of texts on discord.
The market has been moving sideaways for the last few days and it's boring as hell. But there's lesson to be learned even in boredom!
Also, "Do you wanna learn how to increase your crypto portfolio even in a sideways market? Do you want to learn how to grow crypto holdings even in the bear market? Then stick with me till the end!"
Did 'ya fall for it! LOL!
Nah, I'm no trading guru or any guru of any sorts to be preaching knowledge! So why all the dramaticism (not sure if this is even a word.) ?
For my amusement. As you can see from the title, I am bored. But yes, there is something you can do to bla bla bla increase your crypto in the sideways market...I'll say it at the end! suspense enough?
So back to the sideways market....you can look at the following ETH chart and call me an idiot for calling this a sideways market.
But dada has forbade us from selling ETH, only keep adding small amounts where ever we can. so there's that! The market itself is not sideways, but tokens of my trading portfolio are sideways.
Most of my trading capital is HIVE. As I have detailed in a previous post I look for my 2 cents to take small profits from trading HIVE. HIVE has been agonizingly static, so not much opportunity to trade there.
Although I have used quite a bit of the profits from previous trades of HIVE to enter a trade in $GRT and exited the trade with nearly 30% profit. But since then I have entered a couple more trades which haven't really moved.
While I'm not at any loss, it is extremely boring to watch the charts do....well, nothing. So I was considering exiting the trade and just sit on USDT to enter a more exciting trade if there was a chance. But the I remembered something dada had said. "Sometimes not making the trade itself is the trade."
Also there was this passage shared by @notacinephile from the book "Mastering the Trade" by Jhon Carter.
"The biggest issue for newer traders is to reprogram their brains into realizing that in trading, losing is winning. A professional trader’s job is to take small losses. Period. Most traders don’t realize that there are only a few days each month where big profits can be made. The rest of the time, traders are doing their job if they’re keeping their heads above water. The idea is to keep the trading account intact for when the big moves come along. If on Monday some traders take three small losses in a row and end up down on the day, they’re doing their job and have the chance to be successful professional traders, because they will have maintained the bulk of their account to use on one of the few days when the markets really move. That is what trading is about."
I absolutely loved this. I should pick up this book.
So since I wasn't at a loss, and I am only dealing with small amounts because I consider this my training period, I decided to train patience and practice dealing with a boring market without making stupid trades in search for an adrenaline rush.
This has been going on for the last 4-5 days and today my portfolio is up 25%. But I have decided to not yet exit any of these trades because one, there's more room to grow with the healthy volume they have (completely my perception, I may be wrong) and two, I want to see if I can decide when is the right time to exit the trade.
Oh right, I was supposed to "teach" how to increase your crypto in a boring market. It's very simple actually! Just write on HIVE, engage and expand your reach!
What..? Were you expecting some magic formula or something?