The guy running the telegram channel I'm in, where we discuss Technical analisys and plan our targets, gave us a pep talk the other day about sticking to the plan.
Remember Most of the Profitable Traders of the world having have accuracy of 40%-55%, Still they are sitting at Huge Funds, WHY??
Because of Trading Discipline and Taking High RTR Trades.
"Plan the trade and trade the plan".
Don't confuse sentiment with using intelligence acquired information to secure your profits.
Entering and exiting according to plan is part of the Risk control strategy.
There are two TPs and the way I see it. TA will almost 100% of the time properly tell TP1, however TP2 is a possibility which is much more influenced by external factors. (Not necessarily Sentiment)
For example:
BTT jumped because it was listed on KuKoin and that is what triggered TP2 and above.
The same way, PHX lost its momentum because of the Volume migration to BTT initial listing hype and didn't reach TP2 (yet?)
I don't know if I'm right but I try to keep an eye on external factors and then choose if I stay for TP2 or content myself with TP1
Like big bet, small bet... but the risk is the same because what controls it is your stop loss
What do you think?
Over the long term I need to be Bullish on STEEM hopefully I will be able to put more SP on my account once i finish this operation.
If you like my journal of trying to make a shitload of steem please comment