Brothers, hello everyone, I am the trader Zhu Yidan. Today the market continues to rise sharply, and my positions are almost fully back to breakeven. My funds are about to reach the high point of May. The market always brings joy to some and sorrow to others. Early this morning, I received messages from several fans, some are stuck in short positions, and some have been liquidated. People's joys and sorrows are not shared.
A friend who was liquidated while shorting usually took trades with stop losses, so I was surprised by their liquidation. They told me that after being stopped out yesterday, they opened a revenge trade to continue shorting, and when they woke up in the morning, they found they were liquidated. Trading discipline can only be executed by oneself, but people are emotional and can be easily swayed. A single wrong decision can lead to losing everything. In my opinion, this is the difficulty of trading. The solution is either to suffer enough losses to remember the pain or to make discipline a habit, completely adapting to it—this is related to personal willpower.
My original positions have been rising these days, but I sold off a position in sto. This coin was one I bought at a low price, and those who watched my livestream should know that I had four contracts at that time. The gun I later bought back lost money. I was afraid of falling back into the previous state of holding all positions. If this size of position retraces, I won't be able to cover my margin. So, I cut the profitable sto, directly selling off 70,000 U. This experience taught me to maintain a reasonable position size, which is defined as a position size that keeps you at ease. If the position is too large, it creates tension and distorts your trading, which can lead to missing out on big profits. I greedily bought back the gun, which indirectly led to cutting the promising sto while losing on gun.
In a bull market, setting a target for profit taking means you should look at the market less. The more you stare at the market, the more likely you are to miss out on profits. Often, when the market comes, the rise exceeds many people's expectations, especially in the case of altcoins. I’m not sure if this pattern is correct, but once I reach my predetermined target, I will withdraw funds without hesitation and leave a portion to play with. This way, my mindset will be better. Many people laugh at my holding positions, but being able to survive in this market for the past two years is proof. Of course, holding positions is not a good habit, and I must learn to cut losses.
I hope everyone can gain something from this market wave, whether it's money or experience. If I had a choice, I would choose money, hahahaha!
