2021-12-31 15:15:30
Something I learned recently:
If you find multiple good trade setups that you’d like to take, instead of entering multiple positions with small size, try to find the one with most confluence and/or with upcoming fundamental catalysts and just enter THAT one with bigger size.
Why?
Because most of the times alts move together: if BTC goes up/down then alts most likely follow that direction, so there is no point in splitting up your bag.
Also, entering just one trade with high conviction helps you manage it better.
However, everytime I tell this to myself I get a voice in my head saying “but what if one of the setups I was looking at and decided not to enter is the one that ends up pumping the most?”
That’s part of the game, you win some, you miss some and you lose some.
If that happens, try understanding why the other one pumped more than the one you actually entered, there might be a useful lesson there to learn and remember for future trades.
So Never give up "Never".
Happy New Year To All.
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