The high cost of ignoring my own rules on $BTC dips
Looking back at the last major $BTC dip earlier this year, my biggest mistake wasn't the initial long entry, which was based on solid on-chain metrics and a clean retest of a significant support level. My real screw-up was letting a 5% stop turn into a 20% loss. I had clear invalidation points and a predefined risk for the trade, but as the price sliced through my stop, I rationalized holding, thinking it was just a liquidity grab before a swift recovery. "Just a blip," I told myself. That little voice, the one that whispers 'don't sell at the bottom,' got the better of me. The market doesn't care about your feelings, and my conviction in the trade became an emotional anchor instead of a disciplined execution. The capital tied up in that drawdown prevented me from redeploying into much better setups that emerged a week later, effectively costing me twice over. It was a stark reminder that even with a strong thesis, sticking to your risk management plan is paramount; those hard stops exist for a reason.
That's a tough lesson to learn, but a common one. It sounds like you had a good initial plan, and sticking to those predefined rules, especially stop losses, is always the hardest part in the heat of the moment. Did you review what specifically led you to override your stop?