Trade entry journal - important lessons

“$BTC / $ETH plans vs. outcome

Total goal: +4.66R
Total captured: +3.51R (75.3% of plan)

Things to consider:

Stress reduction, mental clarity, bias reset for next trade. These things are super underrated and not discussed nearly enough in trading imo. Babysitting positions take a toll on your mental. And while sometimes there's obvious invalidations to tighten up stop losses, sometimes there's not, and you'll watch yourself round trip 3R in hopes of 4R. That's bad risk/reward, not only for your trade, but for your brain and overall health.

Current risk/reward (risking 75.3% for a chance at the last 24.7%). Would you open a fresh long here with stops at the lows? Of course not. In a perfect world, trades go from liquidity to liquidity and targets hit in a single, swift move, but that doesn't always happen. Sometimes your target gets front ran, the LTF starts to look a bit shaky, and you have to decide if you're willing to risk 3R worth of gains for a CHANCE at the last 1R. That's not worth it imo.

This is a post to teach rather than justify my decisions, I hope you know that. I'll take 3R off the table everyday and keep compounding over time. I put a lot of time and effort into this trade (and all my trades) and I don't take the gains for granted. Neither should you.

It's easy to get brainwashed by CT into holding and eventually round-tripping trades. Everyone gets euphoric on green candles, doom posts on red candles, but very few actually plan and take the trades. It's best to follow the advice of those who walk the walk, not just talk the talk.

Enjoy the gains my friends“

Link to the original tweet: https://x.com/Crypto_Chase/status/1940923823819297071