Knowing when to advance and when to retreat, and being able to make choices, is essential to achieving the maximum return. This is a quality that only excellent traders understand and can achieve. 👍

#BTC #ETH

Livermore once said:
"The first dollar at the start and the last dollar at the end cannot be earned."

Why did the master say this?

The first dollar at the start of a trend is often accompanied by false breakouts and many "first dollars."

Therefore, the fish head is bony, has little meat, and carries high risk.
This is the market testing, luring, and creating the illusion of a breakout.
Only when the market has fully confirmed, breaking from the "first dollar" to the "second dollar,"
is our entry time for the trend to start.

And the last dollar
is the fish tail, with many bones, little meat, and great danger.
At this time, emotions are euphoric/panicked or excited, and reversals can happen at any moment.

We choose to only eat the "fish body,"
where the trend is clearest, momentum is strongest, and risk-reward ratio is optimal in the middle segment.

Learning to let go is sometimes also a good trade.