Reflective Trading Question

[alastantiger]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

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[Edwardard]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

All Thanks to FED's continuous interest rate hikes, russia ukraine war fuds in between, luna debacle, ftx collapse and whatnot lmao.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

I dont think most traders are still strong or survived 😁. Even the institutions got rekt like 3AC, Celcius, etc. But yeah, BTC will make a comeback anyways.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I learnt that the TA guys are full of nonsense, fundamentals are more important than technicals. And the "funding rates strategy" kept on scamming traders since 60k, (negative = long, positive=short). Now I always follow main twitter accounts like elon musk, CZ, saylor, etc. Their actions on twitter move the markets and liquidates short term traders pretty fast if they just follow TA lol. And avoid trading during FOMC meetings or CPI data announcements.

[Stalker22]

It is certainly true that the cryptocurrency market, including Bitcoin, has experienced significant volatility and a bear market this year. However, it is important to keep in mind that the cryptocurrency market is influenced by a variety of factors, including regulatory developments, market sentiment, and the general economic climate, all of which can impact the price.

Depending on what type of trader you are, this can be a good thing. For some traders, a bear market can present opportunities to buy crypto at lower prices with the expectation that the prices will eventually recover. In other words, even though most traders would not wish to experience a bear market while they are trading, they can actually still benefit from them.

That being said, it is important to prepare yourself for a brand new year in the cryptocurrency world by learning how market trends affect the price of your favorite coins. If you know what you're doing and plan accordingly, even the toughest bear markets can provide opportunities to buy low and sell high.

[Maus0728]

what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

This is just an advice I have heard from successful traders though. But here it is

"Trade your plan, not your PnL"

I know it is tempting to see the percentage you gain upon executing the trade, however if a trader based his decision on the profit/loss he sees on the screen, then there is a chance you will miss an opportunity or suffer a significant loss. Perhaps try turning off the PnL indicator? 

[taufik123]

"Trade your plan, not your PnL"

hahaha, that's absolutely true, PNL makes us feel that the trade we made was very successful, even though it's just an indicator that isn't very useful just showing on the screen.

The trading plan is more important than that, because every trading step must be considered so as not to get caught in a situation that will be detrimental.


The bearish market throughout 2022 is a sign that we are getting closer to a bull market, we really have to prepare for it and hold some assets that do have good potential for the future.

Preparing a trading plan is one thing that must be done, apart from that a reserve of money is also very necessary to buy back when the market continues to go to the lowest price.

[jrrsparkles]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I don't feel that bear market is too long than we expected when we compare with 2018 cycle so as a trader I didn't feel too much pressure about being bearish. Well, the trading journey is quite stable and this is the best phase for the accumulation so long term traders should utilise it as much as they can and for sure you can reap your profits later.

[jaberwock]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I don't feel that bear market is too long than we expected when we compare with 2018 cycle so as a trader I didn't feel too much pressure about being bearish. Well, the trading journey is quite stable and this is the best phase for the accumulation so long term traders should utilise it as much as they can and for sure you can reap your profits later.

But, the bear market is not over yet. If you look at most of the coins, they are still in red and they are giving a sign that the decline will continue. Maybe there are coins that are still fluctuating, so indeed that as a trader, you can be able to take advantage of that and continue earning some profits. I think the pressure right now is on the side of the investors.

Traders are more on the active side, so they don't have any regrets but they already done the things that they are planning. If there are people who have regrets then that must be the investors again. Most of them didn't sell last time when the price is still a little higher because they think it will continue but that's not the case that happened.

[YOSHIE]

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

If you do crypto trading especially Bitcoin, a market like this is great if you choose the 52 weeks/90 days/30 days or 7 days method, this kind of method you don't bother to analyze/predict about bear markets and bull markets, you know the price of Bitcoin every time there is a change even if it happens only a few dollars up and down.

Say if you take the 30 or 7 day term trading method, in 30 days the lowest Bitcoin price is $15,599 and the highest is 18,318, then the low price in 7 days is $16,398 and the highest is $18,318, in 7 days you already have a profit of $ 1,920, keep doing this method in a matter/week, I'm sure you don't care about the bear/bull market when it happens, you will enjoy trading like that.

Or you can also do it per day like what happened yesterday, a comparison of low and high Bitcoin prices, a comparison of $ 16,000 and $ 17,000, this is also a trading method that is often used by crypto users in general, you can see the volume and trades of Bitcoin.

[michellee]

I didn't do much other than keep trying to get into buy and sell positions. Even though I often experience mistakes in analyzing, that's okay because I can still get a decent profit in 2022. But I am more focused on collecting more bitcoins especially in the last 4 months, as the price of bitcoin has been dropping to its current low. Not sure if later in the next year, the price will decrease again or even reverse direction to increase. We still have to be patient, waiting for the bear market to finish and be replaced by a bull market.

[jrrsparkles]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I don't feel that bear market is too long than we expected when we compare with 2018 cycle so as a trader I didn't feel too much pressure about being bearish. Well, the trading journey is quite stable and this is the best phase for the accumulation so long term traders should utilise it as much as they can and for sure you can reap your profits later.

But, the bear market is not over yet. If you look at most of the coins, they are still in red and they are giving a sign that the decline will continue. Maybe there are coins that are still fluctuating, so indeed that as a trader, you can be able to take advantage of that and continue earning some profits. I think the pressure right now is on the side of the investors.

Traders are more on the active side, so they don't have any regrets but they already done the things that they are planning. If there are people who have regrets then that must be the investors again. Most of them didn't sell last time when the price is still a little higher because they think it will continue but that's not the case that happened.

Well, the condition is more profitable for the investors than traders if they are patience enough to hold until the right time comes. Yeah there are people who sold at the wrong time which they may regret while they have another opportunity to use this bear market for making more returns than the previous cycle because what history tells that price of cryptocurrencies reaches new ATH for every new cycle and its atleast 500% higher than previous ATH.

[palle11]

There are certain things that I have learnt in trading this year that I was not practicing in the past and they have helped me to save some extra money that would have been lost unnecessarily and they are , I learnt to stop a losing trade where I see I would lose all the money if I allow the trade to continue. I have learnt to use stop loss and I have also learnt to be patient and watch my entry time to come.

[TimeTeller]

There are certain things that I have learnt in trading this year that I was not practicing in the past and they have helped me to save some extra money that would have been lost unnecessarily and they are , I learnt to stop a losing trade where I see I would lose all the money if I allow the trade to continue. I have learnt to use stop loss and I have also learnt to be patient and watch my entry time to come.

Those learnings will be used in the future, so whatever we lost before, may possibly be recover in the future.
But everyone in this market experienced loss at one point, no one is exempted from such situation.
Even expert traders now did have their own share of ups and downs. And that's when you will learn something valuable.
As we learned those tips, we are still prone to making mistakes again. As the situation varies from your last, sometimes you will overlook such warning signals.

[palle11]

Those learnings will be used in the future, so whatever we lost before, may possibly be recover in the future.

Whatever is in the past has gone to the past. Such money that have been lost as a result of past trades are gone even if you recover them you are only thinking like that by yourself because you made the said recovery because you have been trading better and making profit, so the past money is not what you have recovered you are just better in trade and have avoided the past mistakes. We don't need to look in the past because if we do that we will be chasing the market to recover and that is dangerous.

[Zanab247]

I guess, what traders are going through in this bear market, is a sign that people will not lack income next year because, many traders has used this season to purchased potential coins that will make their expectations come through before the end of next year. Even though the bear market will occur next year 2023, it will not last like this current price situation that is making people to continue holding until the bull market appear.

[kamvreto]

I guess, what traders are going through in this bear market, is a sign that people will not lack income next year because, many traders has used this season to purchased potential coins that will make their expectations come through before the end of next year. Even though the bear market will occur next year 2023, it will not last like this current price situation that is making people to continue holding until the bull market appear.

the people who are able to survive today are those who have a definite purpose in what they buy. We all know the market is bearish and the bitcoin market drop is -70% and which is quite an extreme downturn. 2023 is expected to be the start for the crypto market to form a bullish pattern that benefits those who are already prepared. Currently, bitcoin is still stagnant at $16k-$17k and trying to recover, if there is no external disturbance from FUD and other negative sentiments it might continue to increase.

[gabbie2010]

I didn't do much other than keep trying to get into buy and sell positions. Even though I often experience mistakes in analyzing, that's okay because I can still get a decent profit in 2022. But I am more focused on collecting more bitcoins especially in the last 4 months, as the price of bitcoin has been dropping to its current low. Not sure if later in the next year, the price will decrease again or even reverse direction to increase. We still have to be patient, waiting for the bear market to finish and be replaced by a bull market.

Honestly I had a tough time trading crypto this year, everything got on a wrong side, infact at a certain time I was frustrated by the bearish sentiment of the market despite having a trading strategy which works with both bullish and bearish market, though in most cases I incurred losses due to greediness on my part, I didn't take profit appropriately after earning some few coins, unfortunately price reverses and move against my position, though I have taken a temporary break and diverted to forex trading while working on my trading strategy and hope to resume crypto trading next year when the bullish sentiment resume.

[michellee]

I didn't do much other than keep trying to get into buy and sell positions. Even though I often experience mistakes in analyzing, that's okay because I can still get a decent profit in 2022. But I am more focused on collecting more bitcoins especially in the last 4 months, as the price of bitcoin has been dropping to its current low. Not sure if later in the next year, the price will decrease again or even reverse direction to increase. We still have to be patient, waiting for the bear market to finish and be replaced by a bull market.

Honestly I had a tough time trading crypto this year, everything got on a wrong side, infact at a certain time I was frustrated by the bearish sentiment of the market despite having a trading strategy which works with both bullish and bearish market, though in most cases I incurred losses due to greediness on my part, I didn't take profit appropriately after earning some few coins, unfortunately price reverses and move against my position, though I have taken a temporary break and diverted to forex trading while working on my trading strategy and hope to resume crypto trading next year when the bullish sentiment resume.

You already know where your mistakes so you can start learning to avoid making the same mistakes. We can still learn a lot from the current situation because market conditions have not changed for the better and we can start investing in bitcoins if we find it difficult to trade as usual. It may be more profitable because you don't need to analyse too much and only focus on buying bitcoin at low prices. But remember to control greed because it will be bad if we forget to control it.

[Beparanf]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

Being a newbie doesn’t mean you shouldn’t the price history of Bitcoin to determine that this is not a long bear market enough to beat those previous year bear market during 2017 after bull run. It’s still less than 1 year when this bear market in play. If we use Bitcoin cycle we still have more years to come to endure this bear market.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

Selling on top is what makes my trading improve because I will have more holdings if just didn’t become greedy during last year peak. I didn’t sell all my holdings at peak even I have chance and manage to sell half of my holdings. Right now my trading is improved because I can manage to sell on peak before dip hits crypto market due to crypto debacles.

[libert19]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

I would like to disagree. We have witnessed similar corrections in prior years too. Cycle repeats.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

I don't trade, just buy/sell coins/tokens every once in a while. Sold some of holdings close to the top (unbeknownst to me at that time), to purchase physical property. Thought that it was wrong decision but turned out to be right.

Could be much better though, because became bag holder or sold some coins much later than I should have.

[SquallLeonhart]

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

This is not the first time I am experiencing a long bear market of bitcoin trading hence I was already prepared to face a year long bearish trend in 2022. By end of 2021, I have sold around 0.1 BTC to buy back at the bottom of bearish market and I bought back when BTC reached $20k for the first time in 2023. This way I got chances to double my trading capital. If I am capable of predicting the ATH earlier than I might have got chances to triple my capital.

Bitcoin trading needs lots of knowledge and right decision making on accurate timing. I am sure that I am not equipped with such skills hence I always try to make profits in holding way and in bearish market also I got chances to make decent profits in my usual way.

[teosanru]

The year 2022, seems to me like the most challenging year for the cryptocurrency market especially Bitcoin. No one could have guessed that the  bear market would persist this long.

And for traders, I can't even imagine what they went through. Despite this we are still growing strong and thriving.

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

Right 1 year before exactly around these days I was pretty happy, i was all in fiat and market was almost around 50k or something. But then i somehow decided to step again in the market thinking that it will boom again and basically that was my biggest mistake, since then i have lost almost everything I earned in cryptos due to market falling once again, i just think everyday that how much more could I have earned if I had kept everything in USDT at that time.

[kamvreto]

Right 1 year before exactly around these days I was pretty happy, i was all in fiat and market was almost around 50k or something. But then i somehow decided to step again in the market thinking that it will boom again and basically that was my biggest mistake, since then i have lost almost everything I earned in cryptos due to market falling once again, i just think everyday that how much more could I have earned if I had kept everything in USDT at that time.

At that time you might have been hit by Fomo because when bitcoin will reach a price of $ 50k and above there are many rumors circulating that bitcoin will reach a price of $ 100k. But if you're getting in at around $50k why don't you sell when it hits $60k? maybe you want to get the price more and continue to hold it.
I don't think that's the biggest mistake of entering at $50k, it's just that your buying goals are not clear either long term or short term. If you make a purchase for the long term you certainly have to hold it until now and there will be no loss before you sell it, it's just that the reduction in asset value continues to fall. If you deposit USDT and the price keeps going up and up one more time, then there will be no profit for you. The risk of profit and loss is certain, you only need to do good financial management, and setting aside some money for reserves will help from losses more and more.

[teosanru]

Right 1 year before exactly around these days I was pretty happy, i was all in fiat and market was almost around 50k or something. But then i somehow decided to step again in the market thinking that it will boom again and basically that was my biggest mistake, since then i have lost almost everything I earned in cryptos due to market falling once again, i just think everyday that how much more could I have earned if I had kept everything in USDT at that time.

At that time you might have been hit by Fomo because when bitcoin will reach a price of $ 50k and above there are many rumors circulating that bitcoin will reach a price of $ 100k. But if you're getting in at around $50k why don't you sell when it hits $60k? maybe you want to get the price more and continue to hold it.
I don't think that's the biggest mistake of entering at $50k, it's just that your buying goals are not clear either long term or short term. If you make a purchase for the long term you certainly have to hold it until now and there will be no loss before you sell it, it's just that the reduction in asset value continues to fall. If you deposit USDT and the price keeps going up and up one more time, then there will be no profit for you. The risk of profit and loss is certain, you only need to do good financial management, and setting aside some money for reserves will help from losses more and more.

Obviously yes I was the biggest advocater on the forum to beware from both any kind of FOMO and FUD no matter what the situation is just hold on to the original plan. And when the market lured me just a little bit i went in altogether only to Sail a ship that sank. Anyways I am still hopeful that market will surely revive itself in an year or so. Maybe it'll give me back my money at that time if I am brave enough to hold onto my holdings till then as well.

[Rahul09]

There are certain things that I have learnt in trading this year that I was not practicing in the past and they have helped me to save some extra money that would have been lost unnecessarily and they are , I learnt to stop a losing trade where I see I would lose all the money if I allow the trade to continue. I have learnt to use stop loss and I have also learnt to be patient and watch my entry time to come.

Of course, you need to have some common knowledge to trade. Among them are stop loss and good time to trade. If you think that you will trade for a little longer time then you always use stop loss. Because you never know what the market can do. So it is better to use stop loss to avoid losing your original money. If you always trade, you will lose.When you see that there is good news for Bitcoin in the market and the price has dropped a bit, buy Bitcoin low and wait to sell high.

[TheUltraElite]

As you reflect on your trading journey so far as the year comes to an end, what did you do that so significantly enhanced your trading that you wished you could have done it earlier?

Nothing new really, I have been following my old but effective method and it always works out.

Buying low and selling high keeping patience in between works the best. No need to jump into newly launched shitcoins and attempt day trading with your holding. Keep it simple and you can sleep peacefully at night.

There will be good and bad news every year, that is the time you need to capitalize - every bad news brought down the market and it is a coincidence that too many happened this year. But treat these just like any other number and you will not fell anxious to trade.

[RealMalatesta]

Right 1 year before exactly around these days I was pretty happy, i was all in fiat and market was almost around 50k or something. But then i somehow decided to step again in the market thinking that it will boom again and basically that was my biggest mistake, since then i have lost almost everything I earned in cryptos due to market falling once again, i just think everyday that how much more could I have earned if I had kept everything in USDT at that time.

That may not be your mistake alone because I remember that many people had speculated about longer bullish trend like a new ATH to happen by mid of 2022 but nothing happened and most DCA investors also got trapped like you. At the same time, you sound like a swing trader who keeps buying and selling depends on market direction, such type of traders will face hard time sooner or later as market fluctuations are that kind of wild one.

Keeping your BTCs as it, could be the only way to remain happy and it is possible only for the people who bought bitcoin in the previous cycle.