I did some calculations today. The profit from the initial retracement that day was 4,500, minus the commission. In the afternoon, I lost 6,300, plus the commission, which comes to around 6,800 oil. That's a loss of about 2,300 oil for the day. Adding the 8,500 or so profit this time and the 3,300 retracement, the total retracement is around 14,000 oil. It's really painful, and mainly because I'm completely clueless right now. I don't plan on entering the market with a large position anymore. I can't understand the current market at my level anymore. I didn't short because I'm afraid of a crash if I do.
I'm probably in a state of confusion right now, so I'm taking a break and trying to figure it out. I had a good night's sleep today and saw Ergou's lowest point near 4,193. Luckily, I didn't rush into a long position last night, otherwise I would have continued to lose money. Today's wave of holding back has made me realize what it means to be afraid. Last night, when it repeatedly reached 4,350, I thought it was going to break through, but the resistance level remained, and it was pushed back over 100 points. Although it peaked around 4,380, I wouldn't have exited even if I had entered, and I would have definitely ended up losing money.
A while ago, short positions were being slashed, and now long positions are being slashed. When everyone's afraid to go long, perhaps the market makers will launch a desperate attack. It's getting close to 4160 now, and I'm afraid to move, and I don't want to open a short position. If it does fall below 4160, that would be great, giving me some bargains. At the current price, I'm already feeling overwhelmed, so I don't dare to short, leaving the more courageous to take advantage.
Today, I'm going to find a good movie to watch. The cryptocurrency market moves so fast. 100,000 yuan can be reduced to nothing in a matter of days. I hope that next time there's a good market, making 100,000 yuan will be as easy as losing it. I'm really disenchanted with the second-billion-yuan coin. I'm pulling out because my mentality is a bit broken. Mainly because I haven't been shorting lately. I was too well-prepared when I was long. It's all karma. Amitabha. $ETH