When the market shrinks and consolidates, have you strictly implemented your trading plan?

On the news side, Facebook's Libra project continues to dominate the headlines in the currency circle. According to The Block,eBay, Stripe, Visa and Mastercard have all announced their withdrawal from the Libra project。

The successive withdrawal of heavyweight partners reflects the uncertainty of these companies that Libra can pass government supervision in the short term. Under the pressure of supervision and public opinion, they are wise to protect themselves. hit by this,The probability of Libra's official launch in the short term is further reduced, which is consistent with my previous judgment. Before the Libra project has made substantial progress, its impact on the digital currency market is minimal.

In the absence of news, we need to focus on transactions. It was suggested before,Everyone needs to have their own trading system or strategy before formal trading, Buy low and sell high, fixed investment, stop profit and stop loss, etc. all count. Going to the battlefield without a trading system is tantamount to swimming naked and cannot withstand the blow of a storm.

actuallyA trading system or strategy, simply put, is to observe discipline, list several trading plans or steps for yourself, and then implement them perfectly. The reason why you have a trading plan is because trading is anti-human. You need to keep personal greed, panic, fluke, extravagant hope and other emotions out of the door. The best way is to simply execute your trading plan.

For example, if you bought a Bitcoin at $10,000, your stop loss plan is to stop the loss when BTC falls to $8,000. As a result, the lowest intraday price of BTC dropped to $8,000 today, and you stopped the loss as planned. But then the BTC price rebounded all the way, rising to $9,000.

Judging from the transaction results, your operation today is very bad, and you think this method is wrong, and you have lost $1,000. butAccording to the trading process, your trading plan is actually executed perfectly, and this is the correct approach. Transaction results and transaction process are two different things and need to be treated separately。

If you don't stop the loss and ignore the trading plan, you will be glad that you lost $1,000 less. On the surface, you lose less, but this is the most dangerous place, because you get "rewards" by violating your trading plan, so you will continue to have a fluke mentality in the next time you trade , Further violate your trading plan, the consequence is a high probability of being caught. In the face of a complex and changeable market, no one can accurately predict the next market trend,Your random operation only increases the probability of uncertainty, and it is naturally more and more difficult to make money。

The advantage of following a plan is that,You have developed a good habit, which can be used to test the correctness of the trading system, so as to constantly correct your plan in practice, and your trading system will only become more and more perfect and accuratetherefore,

therefore,For transactions, the success or failure of a transaction cannot be calculated solely by whether it wins or loses, but depends on whether you abide by your system and planOperation suggestion:The correct trading process is 100 times more important than a correct trading result。

Operation suggestion:

BTC: It once hit $8,800 yesterday and then quickly fell back. The hourly long-short double-boom market is staged again. It dropped to $8,200 this morning and then stopped falling. The trend rebounded slightly, but the volume is very weak. If the support near the MA60 hourly moving average ($8,400) cannot be regained in a short period of time, once the market is suppressed by the air force, it may fall further. , and once it effectively falls below 8,200 US dollars, the market will once again test the previous bottom support of 7,700-8,000 US dollars.

Judging from the big contract data of Okex, after yesterday’s double explosion of long and short positions, the total amount of BTC contract positions dropped sharply, and there was no obvious increase in positions, which means that the willingness of both long and short parties to open orders is not strong, and they are more cautious about the market outlook , the number of long and short positions hovered around 1 for a long time, reflecting that participants were more cautious about the market outlook and lacked confidence. Therefore, the market may continue to fluctuate and go down in the short term, so it is necessary to operate with caution.

ETH: The short-term continued downward trend, with weak support near the 4-hour MA60 moving average ($180), and weak volume. Looking at the breakthrough of 185 US dollars in the short term, if it can be effectively broken through, there is still room for improvement. If it falls below, it may drop to the bottom range of $170.

LTC: Short-term sideways trading, oscillating slightly up and down at $56, before failing to effectively break through $60, the market is mainly on the sidelines, with the bottom supporting the range of $50-52.

BCH: The disk fluctuates slightly around 220 US dollars, and the short-term strong pressure is 240 US dollars. Without news stimulation, it is difficult to have an independent market and link the market trend.

EOS: The range of 3-3.2 US dollars consolidates the trend, and the daily line pressure is 3.3 US dollars. In the short term, we need to pay attention to the risk of continued retracement.

XRP: The overall trend is in the range of 0.26-0.28 US dollars, and the volume can shrink at the same time. It needs to wait for the direction given by BTC before linkage.

TRX: In the short term, focus on the support near the 4-hour MA60 moving average ($0.0155), and the risk of falling below is intensified.

ETC: 4-hour level, the decline is more obvious, all the previous gains have fallen back, the short-term support is 4.6 US dollars, and there is a risk of waterfall after the disk effectively falls below 4.5 US dollars.

Platform currency: Maintain a range-bound trend. Before there are new hot spots, the market will most likely follow the BTC trend, and there is no good market to speak of. The market of platform currency has passed, don’t have too much illusion about the platform currency and IEO currency issued by some new exchanges. In the short-term, BNB consolidates its trend in the range of 16-18 USD, HT operates in the range of 3.2-3.55 USD, OKB fluctuates in the range of 2.16-2.4 USD, GT trend is still weak, and the short-term support is 0.5 USD.

Altcoins: A small number of currencies performed slightly, but the significance of participation is not great, and the overall focus is on the sidelines.