The shanzhai market has surprisingly continued for more than two weeks. I have opened short positions on 18 cryptocurrencies, most of which have been trapped. The maximum drawdown from the trades reached 50%, and I have also stopped out several positions. Overall, the leverage has gradually increased to around 4 times, and the risks are accumulating. Many traders with high-leverage short positions have already been liquidated and are celebrating with fireworks.
Suddenly, I started to feel fear towards this market, questioning my strategy and the market itself. This might be the difference between machines and humans; human emotions can influence judgment, while machines only execute commands.
What is needed at this time is rationality, a madman's mentality, and persistent belief. In the long run, shorts will always win; every setback is just a small stone on my path to becoming wealthy. $VIRTUAL $WCT $GUN