Hey, fellow traders! After a lot of contemplation and some serious soul-searching, I've decided to shake things up in my trading game. You know me as the scalping day trader always chasing those quick wins on the 1, 5, and 15-minute charts, but times are changing friends.
So, what's the big change? Well, I'm making the jump from the hectic world of day trading to the more laid-back vibe of swing trading. Why, you ask? It's all about balance – balance in my trading account, my time, and, heck, even my health. I have too many things going on, and even with the Logical Trading Indicator calling the plays, day trading can be extremely stressful and time consuming.
Protecting the Capital
Let's talk dollars and cents. Day trading, while thrilling, can be a rollercoaster for your capital. I've got a small trading account, and I've realized that the constant ups and downs were playing with my nerves and my account balance. So, why not take a breather and let those trades marinate a bit longer? This will save my account from being chipped away by exchange and blockchain network fees. With a small account, these fees can really eat away at your profits. Swing trades take longer, but make bigger percentage gains without making so many moves that cost money to make.
Time is Money (and More)
I'm a busy guy, juggling multiple ventures like promoting the Hivelist e-commerce platform on Hive, rocking out on BlockTunes.net, tending to my homestead farm, and diving into the fascinating world of 3D printing. Let's not forget my content creation for Hive and my other outlets like Coin Logic. Day trading was simply eating up too much of my time – time that could be better spent elsewhere.
New Time Frames and Entries
Alright, let's get into the nitty-gritty details. In my day trading strategy, I was all about the 1-minute chart for entries and the 15-minute chart for spotting trends. Now, I'm dialing it back a bit. I'm using the 15-minute chart for entries and stretching out to 2-hour time frames for trend analysis and continuations. With help of my custom indicator I can set alerts to tell me when it's time to get in and out of trades while I still live my life.
Protecting the Real MVP: My Health
Now, let's get real. Day trading can be stressful. The constant ups and downs, the pressure to make split-second decisions – it's not for the faint of heart. And guess what? It was taking a toll on my health, particularly my blood pressure, and for a larger guy like me that is already ADHD and on edge a lot of the time, it was not a good combination. So, I'm taking a step back, embracing the swing, and giving my health the attention it deserves.
Wrapping It Up
There you have it, my trading dudes. A shift from the adrenaline-fueled world of day trading to the more chill vibes of swing trading. It's about protecting the capital, reclaiming my time for other ventures, and safeguarding my health. So, here's to new strategies, balanced portfolios, and a healthier, happier me. Making changes in your trading strategy has to be done from time to time, but that's all about trading logically!
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Many of my cryptocurrency related articles as well as trading articles can also be found on my crypto research site, Coin Logic.
I also post trading chart ideas on my TradingView Profile.
Disclaimer:
The information in this trade journal is for educational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
