I think one of my worst traits in trading, and that I fall for very often, is that I am an "all in or nothing type". Either I am in a position with size, or I'm sidelined. From a conviction perspective, this is great, because why bet on other ideas than your best one, but it also leads me often to not pull the trigger at all/fast enough, and I miss lots of good entries because I want it to go even lower. But when the low I visualized is there, I want it even lower. Hehe.
For example yesterday, when Garret Bullish had a public liq level at 2260 for ETH, I placed a limit bid slightly higher, at 2290, but when we came close to this price I decided to cancel my limit order. I chickened out. Instead what I should have done was to just reduce my size, and at least get something filled. Just to be in the trade, and with the possibility to average down. I have many other flaws btw, but this is one of them.
am i doing wrong because i am all in eth?
yes but gave back all my profits
still in profit, no? but sure...it was much higher :(
Interesting... my problem the last four years has been like the exact opposite where I tend to undersize all my trades so my big winners are never really that big lol...
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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