The story of Yirbu

[kiwiarian]

Merry Christmas and a very happy new year all.
Enjoy your holidays and thanks for this year.

OIP.jpg

Hopefully everyone has a good break then

[Yirbu]

I'm going to buy a lobster, a pack of oysters and a bottle of champagne first now.

[Yirbu]

Bitcoin starting prices matter

[IgazI]

Bitcoin starting prices matter

January could see it climb higher, but I'd expect some kind of mini crash before the larger move;
of course, markets don't always do what we expect them to do.

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[Yirbu]

Bitcoin starting prices matter

January could see it climb higher, but I'd expect some kind of mini crash before the larger move;
of course, markets don't always do what we expect them to do.

sub35.png

Indeed, I was expecting a mini crash for over 3 months now, going back to the 30k mark and I'm still waiting...

But see how price never pulls back a lot in January before choosing it's final direction.
Choosing the right direction on btc in the first days of January can be very profitable for a longer term trade.

[Yirbu]

First forex trade of the year.
Lots of pips.

First had some trades up, some down and I lost +/- 1%
Eventually I could hop on this one. Got scared at the 1st pullback so I took half but when price continued I went in again.
I didn't have the guts to sit through the second pullback as we were at a nice round number and a H4 Z-Line/FVG.
Took my profits and I'm fine with that.

I did try a small reversal trade but with all that weight coming down it was short lived.

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[IgazI]

"An animal caught in a trap will chew off its own limb to save itself; what will you do?" -The Bene Gesserit Reverend Mother.

I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.

[Yirbu]

"An animal caught in a trap will chew off its own limb to save itself; what will you do?" -The Bene Gesserit Reverend Mother.

I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.

That's exactly on my learning list for 2024:
Become fearless

[Yirbu]

Didn't plan to post this chart for various reasons and initially marked it up for my personal archive.
I do think there is some learning value in this chart so here it goes....

The first entry was a nice entry. It is a mixed entry; inside bar; I like to enter short early when price has just took the top of an IB, in this setup price also enters and leaves the "alias" zone.
My target was already defined at a H1 Z-Line and only a clean break would have made me keep the postion open.
Took profit and went long (if you exit because you think price will reverse it's just stupid if you don't open a position going the other way)
Got killed fairly quickly...
Jumped in again and everything was looking bright and sunny until it didn't....
I was holding on to my long because I felt much more "up" was coming but at the same time wasn't so sure so I opened a short.
Eventually I closed my long for only +5 and closed my short at the Z-Line again.

It was a nice profit but unfortunately I lost most of it later in some us30 trades.

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[IgazI]

The question I have is whether you are wrong because of 'A' or 'B'.

An easy, and better(?), way to control this size of your losses is to enter in 6ths:
- short 1, if it doesn't turn into a 'B' situation then short another 1.
- short 2, if it doesn't turn into a 'B' situation then short another 2.
- short 3, if it doesn't turn into a 'B' situation then short another 3.

If you lose on 1, you've lost 1/6 * pips.
If you lose on 2, you've lost 1/3 * pips.
If you lose on 4+ then you've lost only profit.

If you get to '3 + 3' then you're making more than you could ever lose.

Trying to control the size of your losses with just a stop loss is an uphill battle.

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