I traded without emotions for 18 hours.

I traded without emotions for 18 hours.

By MadMaxx | Psycho Crypto | 8 Jan 2020


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Emotions play a big role in trading.

And that's what makes us unsuccessful most of the time.

We spend hours upon hours making a solid trading plan.

And we decide to buy BTC at $8500 thinking the 'breakout' is real. (I'm still crying on the floor)

So I decided to stick to my trading plan.

No emotions.

How on earth did I do this? Deep down, and even not so deep down I'm still a human.

Well, I achieved mechanical trading by just being firm.

I created a small trading account from scratch. I did this on my platform of choice, Bitfinex.

I funded it with about $15 worth of Bitcoin.

And I traded the BTC/USD pair.

I did what my indicators and candlesticks told me. Not what I wanted to do.

I bought when the RSI was under 30.

I sold when it was over 70.

I followed my Bollinger bands squeezes and Stretches.

And everything in between.

And I recorded the cleanest trading day in all my years of trading.

I followed BTC all the way up, and made 6%!

Had I not followed my trading plan, there would have been points where I would have sold to lock in those 0.3% profits, even though the RSI hadn't spoken yet.

True, indicators aren't God.

They still make mistakes.

But they rely on facts.

Our emotions rely on....well....fear and uncertainties and doubt.

This causes us to take profits too early in fear of crashes, and to ride losses too long in hope of rebounds.

But following a fixed plan brings a wonderful result.

Although it is said that the market rewards those without a plan, and punishes those with a plan.

Thanks for reading!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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