【Contract Reflection】After losing 2000U on MYX, I realized something

The trading of the past few days was like a loud slap in the face, bringing me back to reality from my fantasies. What started as a few casual trades ended up with me suffering continuous losses on the speculative coin MYX, totaling over 2000U. Fortunately, my stop-loss was set fairly timely; otherwise, I would have likely faced a total liquidation.

The recent trend in MYX seemed like a sudden windfall, but it was actually driven by emotional speculation orchestrated by the main forces, with multiple attempts to lure shorts before a strong pullback. It was indeed very unsuitable for a trader like me who is accustomed to trend analysis. Even more ridiculous is that I opened several short positions on this speculative coin, fully aware of the high risks, yet I still couldn't control my impulses—ultimately, I was ruled by the fear of 'missing out'.

On the other hand, the BANK trade actually aligned with my trading system: there was emotion, support, sector rotation, and indeed potential for a rebound. However, the losses from the previous trades shook my mindset, leading me to exit early with a stop-loss, missing the opportunity to secure a profit of 7000U. The feeling of 'missing out' is even more bitter than losing money.

I realize that in speculative coins, I lost not only funds, but also the discipline and confidence in trading; while in areas where I excel, I chose to retreat due to fear and insecurity.

The difficulty of contract trading is not just in predicting rises and falls, but in aligning knowledge with action. Knowing that I shouldn't chase shorts, yet still jumped in; knowing that I should hold firm, yet exited too easily. Reviewing my trades daily and honing my execution skills may be the only remedy I can apply.

This market will never mistreat rational individuals, nor will it spare those swept away by emotions. I lost this time, but I will not give up. I will maintain my mindset, set off again, and find back that clear-headed and decisive self.

I dedicate this article to remind myself and to encourage fellow traders on their journey.