HOMEWORK
I wanted to add the following to my recent post of a students question in regards to the turning point for alt coins in March this year
If somebody held their alt portfolio through this in essence quadruple top on the daily time frame without significant profit taking and would like to handle their positions differently next time around rest assured jus reading my post won't change any behavior.
What is necessary is to dissolve unwanted behavior in ones subconscious through conditioning a larger pull towards the new implementation like the application of the Quad exit.
One such way is to take your portfolio at the time of march 18th this year and calculate the profits of an entire liquidation at that point
Next do the same thing assuming a liquidation on June 24th when i started posting possible entries for alt coins again
Subtracting the figure from the first one will provide for the effective loss you have acquired
do keep in mind that you are already in the green again if you would have repurchased and keep in mind the principle that a 50% loss requires a 100% profit just to get to the break even point again.
99.9% of traders will never do such a work intensive and moreover painful homework but the difference between losers and winners is precisely that winners do what losers aren't willing to do
it will be this pain experienced that will come to the forefront next time around when greed or other unwanted behaviors might step in to hold you back executing the quad exit properly
another way in general is to take screenshots of your last 100 to 1000 trades and compare the exits you took versus exits that on the charts look more principle based and discover where possible exit shortcomings might stem from and how to improve them.
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