Don't short the surge blindly! My personal experience tells you: being a bear is not bravery, it's recklessness!!!
In the past, I was the typical retail investor who would get envious when a coin surged and couldn't help but open a short position, thinking, "How can it rise so much? It must be about to drop!" Especially when it started to pull back slightly, my confidence soared and I added to my short positions. What happened? I got burned every time I shorted, five times in a row, until my wallet was empty!
The worst time was when I saw a coin surge 600%. I thought I had caught the top and went all in with a 40x short, but it broke through my limits and soared another time, sending me straight to the rooftop.
I later summarized a life-saving principle: don't short on the day of a surge, after several days of increases, wait for the first daily candle to close red, and then consider lightly shorting at high positions on that day.
Don't go against the trend, especially with those coins that become so crazy that they even don't recognize themselves. A surge is not a top, being a bear is not a belief, and cutting losses is the only truth to survive!
Retail investors' lives are not for venting frustrations, they are meant to protect the principal. What you are shorting is emotion, while others are riding the trend.
