I blew it. Ever since I bought AVAX spot, I haven’t made any money by going long with the coin. Today, it directly hit the liquidation position and went to zero. I don’t know where I got the 5u trial voucher from today, so I’ll start from this. Next time I won’t trade against the trend anymore; I’m tired of losing money. This time I plan to take 10% profit and run. Take 10% profit and run. Compound interest. Let’s see if I can make a comeback with 5u.
I haven't done much trading for many days because I have been holding it in AVAX coin with low leverage for long positions, and I have also withdrawn some money.
Today’s drop is really terrifying, but it highlights the importance of position management. In such a harsh environment, being able to ensure no losses is already great. In the past, this would have meant a complete loss by now.
Currently, I've reached over 8000 yuan. Yesterday's sats truly opened my eyes. I just happened to make this trade and successfully took a big chunk. I entered at 0.00012 and reduced my position to just a base amount at 0.14. Later, I gradually increased my position to 0.00016, and it directly dipped down. At this point, it hadn't hit my breakeven loss yet, and then it spiked up, hitting my take profit and even going up to 0.00019, before it dropped sharply again. Really impressive! Luckily, I took my profit; otherwise, I might not have been able to react in time to a stop loss. It was terrifying! Thankfully, I managed my positions. Even if I hadn’t set a stop loss, the loss wouldn’t have been too significant. This shows how important position management is. Also, when opening a position before bed, I only open with no more than 5x leverage and must set both take profit and stop loss. Hehe, that's all for today. #交易理念
I was careless today. Missing out on such a good market and not making money is really painful. So painful!! However, I still need to keep my mindset steady. The cryptocurrency world is never short of opportunities. I can't chase the market out of FOMO just because I missed out today. Currently, all my funds amount to 7,500. I bought spot at 6,800. The rest is in contracts. I am determined not to over-leverage. Staying alive here is the most important thing. Fast is slow, and slow is fast.
The trading mindset is still not mature enough. Today I lost over 300 USD. When I saw the auction at over 50, I didn't dare to short it. Then it dropped to 42, and I directly went all in with a low leverage short. As a result, it rebounded sharply and scared me off. Later, when it fell to 32 and then back to 37, I actually bottomed out with 300 USD at 10x leverage. Clearly, I got liquidated. I really can't believe it. Sigh, I can only say that the more FOMO I feel, the less stable my mindset becomes, and the easier it is to make mistakes.
Today, overall, it was still profitable and improved position management by changing from a full position model to a逐仓 (partial position) model. This reduces the situation of risking a loss of -200%. Stay humble and calm; today was still a bit impulsive, and some orders were placed directly instead of using limit orders, resulting in one order losing 50 USD. Previously, every order was 100 USD, 200 USD, or even 300-400 USD, all adjusted to 50-80 USD per order. Profits are all put into spot trading; keeping the green mountains means we’re not afraid of running out of fuel. Being able to profit 400 RMB every day is already better than working a job. Don't let profits cloud your judgment and go all in; that’s foolish. I still remember the countless times I got liquidated. Each time, it was just about making a little profit, but the more I played, the bigger the bets became, and in the end, it always led to liquidation. Keep going; the trading path is long.
Today I still have a few orders from yesterday that haven't been closed. One order's profit retraced by 80%, still too greedy. I can't stick to strict profit-taking and stop-loss. However, there was one order that did incur a loss, losing 220u. I'm glad I didn't hold onto it, otherwise I would have lost more. Stupid bmt. There are also some other orders today that haven't been closed for profit. Profit and loss keep fluctuating. I'm exhausted.
Let me say a few words. I am a useless college student who has been lying at home for a year, not working. I accidentally came into contact with the cryptocurrency world and have no other source of income. Trading cryptocurrencies has indeed allowed me to earn a little money, so I plan to trade cryptocurrencies at home and not go to work anymore. Currently, my capital is 6500. I will update daily to see how long it takes to achieve financial freedom. Hehe, you can follow along.