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Please tell me if I'm stupid
I'm trading Bitcoin futures with 15x leverage. What I do is draw a trendline - 5 min / 15 min to see the direction its generally moving in and also use support and resistance lines. I open the trade without a stop loss and set a TP of 11% - 12% and just let it run. It usually hits my TP during the day and if it doesn't i let it run overnight (I do think letting it run overnight isn't smart and I've at times had to hold for a few days due to bad decision making) But in general, this seems to work really well!! I take losses and get into a mess because of greed, I'll hit the TP and if it's still moving i open again and get myself into a pickle. Another reason I take losses is because i try to conform with what is "correct" and tweaking what I'm doing (I'm still learning.) Example: Today was CHOPPPPYY and I was trying to risk 5% to make 10% so I closed 3 trades in loss. Tonight I opened another trade my regular way and guess what? It eventually hit my TP of around 11%. All the trades I opened today and then closed at the 5% loss eventually went in my direction and I would have got my 10% much earlier today. Please tell me if I'm being stupid? I have a very small account but I want to trade it up (and probably add some of my own cash) to 3k and take all profits from there. That would = $300 / day which is really a very good amount in my eyes. Am I just getting lucky? And yes I have been humbled by getting liquidated once within a few days of opening my binance account 😂 but I think I've learned a bit since then.2
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