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Hahaha
I got cocky and got rekt!
The market's an animal! ๐ค
It took me days to build this yet a few hours to destroy everything!
Here are some lessons I've taken home,
1. I don't have to trade all the time. I got into this trade after securing a handsome profit from a short trade.
2. I will react to the market changes ASAP. As soon as the trend changed, I should have reacted and shifted my trade to longs instead I gave in to sunken cost fallacy and kept shifting my stop loss upwards.
3. Trade familiar territories! Well all this happened because the BABY coin distracted me! $BABY
I hope these lessons help you in your trades. The secret that got me the profits in the first place were two, I'll share one:
1. You have to have some skin in the game. Just not too much skin.
Hey, if you got any ideas on how I can recover from this, I am ready to listen.
Obviously I am not giving up and I will keep you posted!
Robi out!
See you in the next one! ๐ฅ