Quick Therapy session.

Alt season is fun, but the majority of you will piss away profit within a few days of earning it.

You've got to iron out the factors that are going to be hugely detrimental to you playing alts successfully.
1. "I need to use leverage and buy big here, going to be a breakout, I want to be a part of it."

No. You do not. With this mindset you tend to put yourself into a "this trade is a 100% success and I just need to get into it"

Price chops, stops you out 5 times and then moves up.
When you have this mentality the thought is "I'm going to make a lot when it breaks up"

You don't consider the 5 times you may get stopped by having to have a really tight SL.

By the time you've done that, you could have entered a far smaller position and been in better profit.
Weird how that works, but it won't cross your mind. Someone with 50% of your size, with wider stops, no triggered SLs, ends up with more profit than you.

Plenty of you will know this situation all too well.
Worst of all, you don't even consider the possibility of being completely wrong. Not just being stopped out, but continually re-entering the same position over and over again when it simply isn't working and isn't going to work.
Reducing size is actually a benefit for the majority.

Less risk + less pressure to have tight stops + less risk of being stopped out + less manual management of position = more profit.
2. "I'm entering big into this position on the 4h because when it moves up it'll be big $$$."

Price moves up...

"Oh shit, look at that PnL, big green, OK, 5m chart, selling off, damn my PnL is going down, 5m candles looking really bad, urm, shit, shit, close position."
This is a classic.

Up the size for a big 4h/HTF play. Get the move, instantly move to LTF to manage the position.

Your great expectations of the trade are now overtaken by the need to NOT lose your current PnL.

Larger PnL for most people means harder to manage positions.
So again, the answer to this? If you're planning on holding a trade for the long term, scale in and add on strength.

Manage your mentality.

Lower sizes, easier to manage, add when the trade is moving in your favour.
Look to scale in and scale out of position. They are fluid, you can adapt and change, re-add and remove. Do not become bound to your entry as a "I cannot add because it will change my entry number to something higher"

Start off small.
The reality to this is simply, reduce your position size overall. If you're using leverage, you'll get lucky once or twice, but you'll throw it all back getting stopped out on similar positions in the following few days.
Reduce your size, add to winners, be adaptive in your positions, don't trade your PnL, remember the reasons you took trades in the first place, did I mentioned, REDUCE YOUR SIZE.

Conditions are about putting risk on, but sensibly, and most won't survive the shakeouts.

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Cold Blooded Shiller

Cold Blooded Shiller Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ColdBloodShill

5 Apr
Significant for $XRP orr?
Sure looks that way.
Read 4 tweets
4 Apr
Sunday Stream

LIVE Tonight 21:00BST.

List of top 10 tickers from @FTX_Official will be covered in the stream. Post your tickers below, I'll produce a final list pre-stream.

The rest of the time will be Q education.

Come hang out with the boys then.

Surprised more people don't want to talk about $XRP with it looking like this... 👀 Image
1 hour of analysis and 1 hour of educational Q&A - failed set ups and whatever TA/psychology questions you have.

Tickers for coverage:


See you in 3 hours.
Read 4 tweets
27 Mar

The importance of not looking at charts.

Despite feeling the need to look at charts consistently it's incredibly important to learn to step back and not spend too much time on them.

Depending on the type of trader you are, or aim to be, it could be detrimental.
The need to look at charts all the time is caused by a couple of things:

1. Use of high leverage/overexposure of account - basically your size is way too big and you're micro managing your PnL to try and stay alive and ensure you don't suffer a huge loss.
2. Addiction. Yeah, unfortunately you're probably addicted, it's become a mechanical response to any downtime you have in life. Toilet > Charts. Boiling the kettle > Charts. Cooking your pasta > Charts. Wake up > Charts.

You've conditioned yourself to look at charts regularly.
Read 13 tweets
21 Mar

10 Reasons to be Buying Spot.

Still too few people take advantage of buying spot, instead focused on perp-contracts or leverage buying.

There are a whole heap of reasons to buy spot over perps and I want to try and tie that in to one thread here.
First "buying spot":

When we talk about buying spot, we're talking about buying the underlying asset, the raw coin/token.

You can do this through most exchanges, @FTX_Official have a conversion tool where you can convert between coins or from USD into your coin of choice.
Second "perps or leverage":

Using the perpetual or futures contracts or buying with leverage.

Typically seen as the "traders contract"
Read 23 tweets
12 Mar

Divergences are the talk of Twitter at the moment, suddenly everyone is using them, so I'm not posting any more content regarding divs.

I'll lay out the thoughts here in this final thread before I close off on this for a while and come back once we've calmed down.
The reason I won't be posting is too many anon-shithead reply guys trash the comments on my otherwise clean feed by saying "not a div" or "is a hidden div instead idiot".

So I'll just cool off from that side until they've found a new indicator they like to use.
For now this is the picture.

$BTC 4h put in a clean bearish divergence into the high last night.

I'd be looking for any impulse to take us down into the support region below.
Read 13 tweets
11 Feb
Revisiting this as a thought process for the action we've seen.

I discussed on stream yesterday using this "20-30% drop" as confluence with any support retests.

Sometimes the charts don't "look" like such significant drops have happened, but there have been examples recently.
$UNI corrected 25% from its high.
$SUSHI corrected 33% from its high.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!