If you don't use stop-loss, in this kind of market, it's really possible to lose everything and go bankrupt. This is not an exaggeration. From the rise of the second contract from yesterday to today’s peak around 2245, the daily increase has already exceeded 20%... I don’t want to calculate the exact increase, because about 80% of retail investors are losing money, and probably another 30% are holding on. How did I come up with this data? It's a guess.

Today, among the familiar faces that got blown out, there are already no less than 20 people. Of course, there are also a few like me who went long directly for short-term trading, but they are rare. Most of them are liquidated, and the main reason is that they didn’t use a stop-loss. You think about opening a position of 50 or 100 contracts, and you wonder where this trash can rise to; if it goes up, you’ll just add more.

You opened a short position at 1920, added a position at the resistance level of 1980, and thought it would be safe at 1960. Unexpectedly, it instantly rose to 2040, and you continued to add at around 2050, thinking it would at most rise to 2080. To your surprise, it quickly reached 2140. You kept thinking that it had risen so much and could not rise further, so you added more at 2160, but it continued to surge. Ultimately, a big bullish candle at 2220 blew up most of your funds that were set for stop-loss, and then it fell back to around 2160. You thought it had finally come down. At such a high position, when would you short? You continued to recharge and short again, but unexpectedly, the second contract continued to rise, reaching 2240 today...

The old friends who silently hold their positions may still be there, but the smiles on their faces have turned into gloom. I have emphasized countless times that when opening a position, you must use a stop-loss. Holding on for 10 times, if this time you can’t hold on, is it really all gone? Is 2245 the top? I don’t know; I only know that there aren’t many bears left. Those who should be blown out have already been, and some may be hovering on the edge of being blown out.

Usually, people who use stop-loss when trading, in yesterday's market, instead held onto their positions, which I really cannot understand. It’s really just that they are too fixed in their thinking due to the framework structure. The reason for enduring too long in the range of 1720 to 1872 sometimes makes me really want to beat the old friends who hold positions without stop-loss; it’s frustrating to watch!!! Last night, I directly went long at 2115 and set a stop-loss at 2080. If I got blown out, it would have just been one stop-loss, and now it seems I made a lot of profit. The neighbor couldn't post a picture, and Binance made a profit during the cooling-off period yesterday; the group friends know.