Today I tried to bottom fish Ethereum, set a stop loss, and reviewed the situation
While watching the market today, I saw Ethereum drop from around 2650, fluctuating near 2500 twice. I judged that this was a critical support level, so I decided to try bottom fishing at this position.
I built a 10% position at 2500 with 10x leverage, planning to add to the position lightly at 2480, set a stop loss at 2450, and target a return to 2600.
In the end, this trade hit the stop loss, resulting in a loss of about 100 dollars.
In hindsight, the problem was being too decisive. Although 2500 is a decent technical support level, market sentiment was very weak, and there were no clear reversal signals at that time. I should have waited longer for effective stabilization or confirmation of rebound momentum before taking action.
I'm not afraid of losing money; the key is to review, summarize, and optimize my trading model. This small loss is within the planned range, and I can accept it. Compared to passively holding onto positions and gambling on rebounds, setting a stop loss in advance and having the courage to exit is what a trader should possess.
Bottom fishing is fine, but don't do it blindly; setting a good stop loss is always better than holding a full position against the market.
Trading is always a probability game; you can't use a single profit or loss to judge right or wrong, but you can enhance your understanding from every trade.
Continue to maintain a steady rhythm, slowly refine your system and patience.
If you often do short-term trading and enjoy researching rhythms, feel free to exchange ideas.
