Bitcoin breaks the top, again. AltSeason CoPilot signals a warning.

Trying to catch a short position after our trading signal flashed bearish has been almost a comedy of errors, almost a sitcom of near-miss attempts.

It's a good example of identifying the change of trend that my signal is based on, as well as implementing the risk control rules for the trading signal. It's also an example of how frustrating trading can be in the long term.

Regardless, it's always good to have another clear example of implementing the trading signal along with the risk control rules.

Common Trading Mistakes

No matter the longevity of one's trading journey, certain mistakes seem inevitable. These errors consistently surface not only in my personal experience but also in the experiences of countless traders I've interacted with over the years. Recognizing and understanding these common trading pitfalls can play a crucial role in refining your trading strategy.

The Power of a Trading Community

Continuous improvement is a hallmark of successful trading, a principle embodied by my own evolving trading tactics. In this journey, the contribution of fellow members from my trading community cannot be overstated. Regularly journaling my trading experiences, sharing them within this vibrant community, has proven to be a potent resource for bettering my understanding and interaction with my trading plan.

Mental State and Successful Trading

Further, my explorations into meditation and yoga have underscored the significance of mental state in successful trading.

It's clear that emotions, whether stress, worry, or fear, significantly influence the execution of a trading plan.

Fortunately, there are ways for traders to manually override these emotional states, bringing the brain back to a state of calm and orderly function, enhancing trading performance.

Three Steps to Improve Your Trading

1. Understand Your Trading System

Belief in your trading system is pivotal for its successful implementation, and this belief stems from a deep understanding of the system's data and function. Therefore, make it a point to study all 5 Stages of The Trade in your trading system from the ground up.

2. Emphasize Risk Control Rules

While a well-crafted entry and exit strategy is important, the inherent randomness of the market makes risk control rules even more crucial. They protect against negative risk and guide when to take on additional risk.

3. Surrender Results to the Market

The ability to surrender to market forces is a fundamental requirement for trading success. Acknowledge the reality that the future is unknown, and therefore, you must relinquish control of results. This helps maintain clarity about when to act and when to refrain, an essential balance in the trading process.

Update on the All Season Co-Pilot

Today's report shows a raft of coins moving into full exit status, and beyond that, they are now crossing into a continuation of the bearish trend.

I'm very pleased with the results from the Alt Season Co-Pilot spreadsheet. This trading system has three states of being for our money.

Over the recent months, this system has consistently kept us out of the altcoins, and recently moved us to a full cash position. 

It's always a lot more enjoyable to catch a bottom and a bull run. However, it's also extremely satisfying to dodge the bullet and stay outside of the noise rather than jumping in on the short time frame signals that were flashing before the continuation of the downtrend.

Here we can see the yellow is ALERT (get ready). This system held us out of the mini-pumps and filtered out the noise successfully.

Capital preservation.

I don't know what's coming in the long-term future for cryptocurrencies, but the short-term certainly looks bearish.