慢慢1357

Bull market correction is a normal situation. Seize the opportunity during corrections, and only buy low, not high. Adding to a position when long is underwater is acceptable, but being stuck when short has psychological costs.

According to the Fibonacci retracement lines, assuming the previous low (0.4313) to the previous high (0.66) represents an upward wave segment, several common retracement levels can be calculated.

1. 0.236 retracement level:

0.66 - (0.66 - 0.4313) \times 0.236 = 0.6093

2. 0.382 retracement level:

0.66 - (0.66 - 0.4313) \times 0.382 = 0.5698

3. 0.5 retracement level:

0.66 - (0.66 - 0.4313) \times 0.5 = 0.5457

4. 0.618 retracement level:

0.66 - (0.66 - 0.4313) \times 0.618 = 0.5216

5. 0.786 retracement level:

0.66 - (0.66 - 0.4313) \times 0.786 = 0.4871

U-based position has been set at 0.52 for averaging down, and coin-based position at 0.52 for opening. If it drops further, I will add spot to supplement.

#btc历史新高 My assets have lost more than half
#高倍杠杆 vs low leverage
#赌徒心理 Leverage and the brain's reward and punishment mechanism
#投机赚钱 Slow is fast

This is my first post on Binance, and I've wanted to express this idea for a long time.

In March this year, I entered the spot market, buying several mainstream assets at that time. BNB has doubled, and ETH once surged to 4000 without selling, but currently, there is still a 30% floating profit. I felt that making money wasn't actually that hard, and my mindset was still stable. Later, I felt that this way of earning was slowing down, so to improve my trading skills and earn more while keeping sensitivity to the market, I switched to futures trading.

In the first phase, I was still quite risk-aware, using a small position with 20x leverage, experiencing both wins and losses, and sometimes holding positions. Significant losses or liquidation would make me feel uneasy. I tried to summarize the reasons for my failures, but there wasn't much improvement. Looking back, the profits were basically based on luck. Even if I could catch some profits, due to human nature's aversion to risk, I would often take a small profit and run, while stubbornly holding onto losses, failing to grasp a good risk-reward ratio. This phase lasted quite a long time.

In the second phase, I learned some technical analysis, trend trading, speculated on the thoughts of market makers, etc. I continually validated these ideas through futures trading. Although there were profits and losses, a significant loss would often result in heavy damage. After watching some KOL videos, I benefited greatly and felt that these accumulated losses were not worth it compared to joining a paid channel; trading still requires some strategies. So after joining, my leverage skyrocketed from 20x to 100x, focusing on the short-term ETH trades provided, all based on just a few points. I anxiously followed the K-line movements, staring at my phone in restlessness. On the first day, luck wasn’t on my side; I made one trade with a floating loss and another that hit my stop loss, resulting in over 3000 U lost on the first day. Just the trading fee for opening a position was already over a thousand bucks, and it was instantly heart-wrenching. Later, I gradually opened more trades with both losses and gains, but due to high leverage, hitting the stop loss essentially meant losing my position, and once a spike occurred, I would passively hit the stop loss. Finally, after several bad luck episodes, I lost most of my U and chose to give up.

At the same time, I started to buy more of my coins at lower prices, using a coin-based leverage of no more than 5x, slowly accumulating holdings, and gradually adding positions during downturns. Cumulatively, it turned out that I also had a considerable profit, and I finally understood that a stable mindset with low leverage is more suitable.