Public Trade #11

Trade Details: -$1000 ; -50% loss Snapshot: https://twitter.com/KonikkoTrader/status...

Telegram: https://t.me/Konikko_telegram

Hello friend. I fu*ked up.. hardly. for the first time in 2 months. Made two most ridiculous trades. I knew this day would come. As cynic it would sound, it was a rainy day. My black Buddha statuette was watching me strangely. I found him (it) in march, few days after Bitcoin crashed, maybe some Russian zilionaire lost it in a green grass valley, I believe in superstitions only if they are positive. Anyway price moves like these, are for most traders suicidal, it's more about unpredictable events, rather than trading strategy, that's why risk management is important. I make risky 4x margin trades only with 10% or less of an account. I have lost 50% of that and now have to cover back with what's left ($1000), but now can increase margin to 5x

First trade SHORT was based on resistance and possible H&S reversal. Second trade LONG, on 1 week breakout. I should have considered, that bearish divergence on 1D chart would pull the price back, but have not thought enough about that, since I was waiting for 1 week breakout for so long.

After this, I have changed many things, in my trading strategy. This is how it is, damage is not big, but painful. It's painful to be wrong, but expensive mistakes are worse. This is my setup now, Important support and resistance lines and few trading patterns. I bet on purple curve, it should grow or there would be another post with another mistake