The biggest criticism I have for myself this year in trading crypto has been "jumping at shadows". In other words, getting out of trades too soon when I should be letting strength run.

This "problem" is also what saved my ass in April - July.

So my takeaway & improvement is that it's okay to jump at shadows so long as you can be humble enough to get re-involved in new trades or former positions with clear risk management if/when the price structure warrants another swing.

Un-anchoring yourself from the cost basis of your first entry or your first TP is so critical. Trade the setup & the chart in front of you – nothing else.

The funny thing is, I've made unreal returns this year.

Could I have done better if I had just sat tight in my original entries at the beginning of November? Absolutely.

Some of those trades like $INJ $AVAX $RNDR and others have done 3-6x in spot gains over the past two months! Meanwhile, I locked in gains of +30% to +100%, though I did get re-involved in them again once a new setup formed.

But I don't have a crystal ball and didn't know that these would be 2+ amazing months. I don't know if the next 2+ months will be just as strong either. Sitting tight in high-conviction trades increases risk because the investment horizon can be thwarted by unforeseen risks & events.

But this risk is (theoretically) congruent to reward.

Investors should be compensated for taking that risk... and they have!

Investors who bought altcoins in July, shut their laptops and went on vacation for the past 5 months have probably done better than any of us active traders. Big kudos to them. I wish I had that ability, faith and foresight, but I don't.

So I'll stick to what's been working for me and continue to remind myself that sitting tight has been beneficial in the 2nd half of 2023. This will help to make me less "skittish" and perhaps boost my returns.

Trend-followers, by nature, are typically late to the party and tend to overstay their welcome because they inherently don't try to time tops & bottoms. No strategy is perfect & everything has its tradeoffs, so I've gotten comfortable with this "dilemma" and found ways to optimize it for my own strategies, timeframes, and risk tolerance.

The beauty of trading & being actively involved in the market is that it's a never-ending puzzle that offers a permanent opportunity to improve, adapt, and make adjustments. No environment is the same as the past, so we're forced to participate on the edge of the unknown.

I think that's fun.

As we go into 2024, celebrate the wins of 2023 and reflect on your own shortcomings from the past 12 months (if you haven't already). You'll be better for it.

Hopefully the lessons that I learned this year, not entirely encompassed in the post obviously, are beneficial for you.

Cheers fam.

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