Brothers, I have been liquidated, 50,000 USDT is gone. I chased the price up at 2450, then stopped losses, repeatedly trading. Then, I bought the dip at 2400, felt something was off, stopped losses again, and then it dropped to around 2300. I went short again, and stopped losses. Due to high leverage, I was overexposed and got liquidated. 😭😭 It's like going back to square one. 😓😓
Here are a few personal insights for my brothers:
First, follow the trend, control your position size, and avoid frequent trading. Buffett once said that time and patience are the best tools for investing. Never hold onto losing trades or trade too frequently. If you walk by the river often, you will get your shoes wet. Catching a few market waves in a year is enough. You can maximize profits by rolling over with your profits, just like this recent Ethereum bull market.
Second, try to stick to mainstream coins, which have fewer spikes and a higher market share. Trust the trend, don’t stubbornly hold onto losing trades. When bottom-fishing, try to go long, do less shorting, unless the trend indicates otherwise.
That's all I want to say. Even if I go back to square one, I will come back!!!