How do you develop stronger hands?

[topshelfcrypto]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term? 

I'm finding my calls are right, way more than 50% of the time, but I'm not as profitable a trader as I should be, because it seems more often than not, there's either a dump out, the chart starts to look like it's turning bearish and I begin to lose confidence in my calls.  Then I might set a stop loss and there's a shake-out, it eats through my order, then the trend turns around and basically does exactly what I had originally called.  Or if it starts dumping I might panic sell. 

I'm typically more profitable if I do not even look at the chart, like at all, after making my buy.  Not sure that's good either. 

What do you recommend in this case? 

I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me? 

Any feedback welcome.

[1715384214]

1715384214

[mk4]

In a trader's perspective: assuming you're a decent trader, then just set your plans and price targets, and totally stick to your plan. If your emotions still get a hold of you, then you either toughen up or just admit that trading is not for you.

In an investor's perspective: Though I like buying at dips, I mostly don't even look at charts and time entries lol. After approximately 4 years of holding, FUD and negative posts in general pretty much does nothing to me. Knowledge and experience will simply make you realize that all of those are just small bumps and hindrances for the long term.

[jrrsparkles]

How much profits matters the most than how many times your trades are at profits so stop over doing the trades. Just take a break and analyze why you are not making the profits, if it simply happens because you make some profit on a trade but in the next few it ends in a loss means you need to go for mid term trading so you can wait for the perfect time and make more profitable trades than loss.

Trading is risky job though but highly profitable on the paper but in real world the traders are losing more when they are doing more trades so HODLing can be better if you have other job to satisfy your monthly bills.

[maydna]

How do you avoid getting 'shaken out' in the short term? 

By not panic if I see the price is down, try to analyze more to find if the price will go down for more or go up after a few minutes or hours later. We need to have control over ourselves to stay calm and not panic because that will help us analyze more and see if there is a good time to buy more bitcoin or just wait for a while.

What do you recommend in this case?

I recommend you stay calm, and not panic as I said before, so you can see if those drops are a correction or a downtrend. If you can stay calm, I am sure you will know what you need to do, and if the price still goes down, you will see the best time to buy more at a low price. You should look at the chart to find a good time to buy or sell, but you don't need to watch the chart every minute because that will make you panic if the price is down.

I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me? 

If you can analyze better, you will see what is going on the market, and you will not worry about what happened to the market because you already analyze that the situations will not go bad. But if the market is still going down out from your analysis, you will not panic because you have another strategy based on the current market movements.

[GreatArkansas]

STICK TO THE PLAN.
This is one of the major problems I encountered in my trading life. Sometimes I don't stick with my plan, like my price target, entry price and the most important, the stop loss.
Sometimes I am ended up taking profits below my price target, it will result low profits and change of risk reward ratio.
My best advice is always stick to your plan, since for sure before you open a trade position you have your plan right? Where is your entry, stop loss, price target.
And don't be sad if your stoploss triggered or lost in a trade. There are always lot of trade opportunities in the future.

[hugeblack]

I advise you to remove your emotions from trading, wait until you have gathered enough information, start with a medium and long-term trading strategy, place orders, avoid tracking analyzes, trust your instincts and always there is an error rate so do not worry about losses.

We learn more from losses than profits, so learn and have fun.
Do not trade with the money you fear losing and know that any amount you lose is better than spending on buying items that will give you comfort in the short term.

[Lakai01]

In a trader's perspective: assuming you're a decent trader, then just set your plans and price targets, and totally stick to your plan. If your emotions still get a hold of you, then you either toughen up or just admit that trading is not for you.

This. There's really no better way to describe it. Make a plan and stick to it. If the plan doesn't work, you have to adjust the plan and not intervene yourself:

A [forex] trading plan is only effective if it’s followed.

You have to stick to it.

It sounds simple to do. It is really just common sense but most traders still can’t do it.

Source

If you do intervene manually again and again, one possibility would be to use a bot that you provide with your targets and stop losses and it then takes over the trades for you. So you are not tempted to intervene yourself.

[jzone23]

You need to set a target or goal and once you set it, you have to stick with it no matter what. Just stay calm and avoid getting hype or getting in FUD coz it will confuse your mind and will lead you to either buy on high and sell on low.

[boyptc]

I'm not a day trader and I think what you just need is to experience a very hard correction and bear market. How long you've been into crypto and trading with it?

If you've gone through 2018 and 2020 bear market, you've grown today and became stronger. Those experiences will make you hold stronger and I didn't do anything but to be patient during those times.

[maxreish]

Have you tried the hugging strat? Like having two entries with opposite ways? It's risky though so you may atleast practicing that strat and wouldn't recommend to non pro trader.

Perhaps change your technical analysis. If at some point youre having a profit while not reading your chart, that's just a coincidence that you listened to your instinct and made a good profit. And if youre asking if whales are manipulating it? Probably is.

Sideways or sudden drops and pumps are normal, it's just that I can see you wrongly enter the market and doesn't have any stop loss, do you?

[cryptoaddictchie]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term?

If the target and period of time doesn't fit the prediction then it's time to call it a day. Or if the result wasn't exactly the one we are expecting we should accept the fact that it's not always 100% right. Accuracy on trading especially for crypto will never be perfect due to high volatility but technical parameters are helpful somehow.

Traders always must have discipline and most importantly don't be greedy cause this is the root of having more loss.

[DoublerHunter]

^ Discipline is very important when you are in the trading field, you should always set in your mind that whatever consequences happen you always prepared, and then next is stick to the plan. A Stonger hand will depend on your mind and emotion, you should not follow FUD and as they say, stick to the plan always. Nevertheless, you cant control the crypto market due to its volatile price but it does not mean you can't take advantage of it. That's why those who already understand investing in crypto especially bitcoin are preferred to hold long-term than a day of trading.

[Obito]

STICK TO THE PLAN.
This is one of the major problems I encountered in my trading life. Sometimes I don't stick with my plan, like my price target, entry price and the most important, the stop loss.
Sometimes I am ended up taking profits below my price target, it will result low profits and change of risk reward ratio.
My best advice is always stick to your plan, since for sure before you open a trade position you have your plan right? Where is your entry, stop loss, price target.
And don't be sad if your stoploss triggered or lost in a trade. There are always lot of trade opportunities in the future.

Solid advice but I want to play devil's advocate here, what if the plan does not work out as intended? Will there be a back up plan because as far as I know, it is difficult to formulate a plan let alone having a back up one. Have to agree with you about not getting sad or feel bad if you did not make a good trade, my teacher once told me that if you mix emotions with rationality, your plan/argument/business will collapse.

[michellee]

Once I learnt about being a holder, they suggested that I have patience, not panic, and still try to do something else to distract our minds from watching the market. They said that I could buy and forget it for a while, but I need to have a target price to sell and set the alarm that will ring when the price touches my target price. It is hard for the first time, but if we have something else to do, we can do that and will not always think about the price. The important is we will not panic to see the price is up and down.

[exstasie]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term?

I'm finding my calls are right, way more than 50% of the time, but I'm not as profitable a trader as I should be, because it seems more often than not, there's either a dump out, the chart starts to look like it's turning bearish and I begin to lose confidence in my calls.  Then I might set a stop loss and there's a shake-out, it eats through my order, then the trend turns around and basically does exactly what I had originally called.

You can't avoid stop runs. It's just part of the market. One of the biggest keys to success is being able to get stopped out and then jumping right back into the same trade again if/when the setup presents itself. Most people do the opposite and get scared out of the market = missed opportunities.

Stop runs often mark the beginning of a trend, so this is pretty crucial.

Or if it starts dumping I might panic sell.

If you're resolute about using stop losses and keeping to them, you don't need to panic sell and you'll eventually become less and less emotional about these situations. I am extremely mechanical and unemotional about trading after years of rigidly following risk management rules.

[so98nn]

You stay firm at your decision and hold whatever the case may be.

For example, since yesterday we saw huge dump in the crypto currency’s and basically btc also fell very badly. I literally invested at ATH and also when it started to fall I added more bits into my portfolio. I have repeated this few times with capable amounts since yesterday. Now just look at the market, it has started to recover and time by time I’m getting closer to break even point. But this would have been impossible if I would have not controlled my mind in first place.  Or if I would have shaken out like you said.

With all these these months of experience you get to know there is no use when you panic and sell. So control your mind, set your goals and keep trading in upper direction only.

[XZERO1]

The only way to solve that is to minimize your risk exposure, you get doubtful of your decisions in your trades mostly because you're afraid to lose and if you're too much afraid to lose money it's because you're invested too much money in trading, that's of course if you chose the coin/token right based on FA/TA.

So in most cases just reducing your risk and putting less capital into trading should solve that problem, but even then if you continued to have doubts and having a hard time to make decisions that could mean maybe trading is not for your and I'd suggest investing instead(after doing research about them and not risking too much capital).

[gabbie2010]

From my own point of view I only set a virtual stop loss whereby I will give the price the room for some draw down if there is no any clear indication of the price changing direction towards my buying or selling I close such a trade manually, I have been having similar experience when price will hit my stop loss in many occasions and thereafter turns back towards my intended direction, after a close observation I will allow the price action to take place without any fear although not easy of course I will take a minimum risk for each of my trade i.e trading with the amount of money I can afford to lose.

[Wind_FURY]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term?  

Zoom out. Bitcoin has only been going up and up, with a few major crashes.

I'm finding my calls are right, way more than 50% of the time, but I'm not as profitable a trader as I should be, because it seems more often than not, there's either a dump out, the chart starts to look like it's turning bearish and I begin to lose confidence in my calls.  Then I might set a stop loss and there's a shake-out, it eats through my order, then the trend turns around and basically does exactly what I had originally called.  Or if it starts dumping I might panic sell.  

The secret is HODLing, never selling, and buy more if it crashes, to lower the average entry price of your position.

I'm typically more profitable if I do not even look at the chart, like at all, after making my buy.  Not sure that's good either.  

What do you recommend in this case?  

What works for you?

I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me?  

Any feedback welcome.

I believe $30,000 will be the new $10,000. It will go up and down from there, before another big surge to $50,000.

[rhomelmabini]

I'm typically more profitable if I do not even look at the chart, like at all, after making my buy.  Not sure that's good either. 

I guess that's more of an assumption to me or have you really observe it on your end? Not looking into a chart is like waiting for a miracle, I suppose, just because you haven't look at it doesn't mean you're profitable when you see it again. Plan your trades, trade your plans. There's nothing better than those who have a plan especially to cut losses sometimes, there's still the next day you could plan for it.