ETH and Keeping Your Cool

I still remember when I jumped in and bought ETH thinking I was getting in on a breakout early. A few minutes later, everything flipped and my stop-loss went off. Talk about frustrating. That experience really hit home for me on how emotions can mess with your thinking, making you react instead of sticking to your plan. As time went by, I realized that sticking to the strategy is way more important than getting all hyped up. ETH couldn’t care less about how I feel. The charts keep moving, and my job is to manage the risks and follow my own rules. Emotions just amplify the losses, while discipline helps keep them in check. So, when ETH is testing your nerves, do you trust the plan or just go with your gut?

You set stop loss because you are a trader. If you are a holder, you will only buy it, move to your noncustodial wallet and not sell it at all. But traders will prefer to buy or open a position and set stop loss. I think it is not spot trading that you are referring to, because most traders that I know that use stop loss are perpetual future traders. Although, stop lose is also possible in spot market.

Risk a fixed percent per trade and place stops from structure or ATR. For breakouts to be valid, they require a close above and a quick retest. Don't go chasing the first pump.

Ethereum has been a tough hold from the last cycle. We are barely even at an ATH 4 years later, especially when you factor in inflation. The technicals haven’t changed though, it is still a really good buy in my opinion. I think it will break $6000 in the last few months of this year which would be a success as it has not been a good few years.