I started trading sometimes in 2020 during the lockdown. I had worked so hard to save up to $2000 to start my trading journey.
I had followed YouTube videos about trading and technical analysis, NOBODY taught me that fundamental analysis, market sentiments and prevailing economic situations sometimes exact a greater influence over the market.
I opened a short position on $SOL with 20x leverage and about 30% of my funds. Within a few minutes I had made about 30USD wow! I was on my way to making thousand within a day or so I thought.
I opened another short position, decided to take a little nap only to wake up and discover that I had lost 70USD that I opened the trade with. I got angry, I must make back the money, I lost, I opened a long position on BTC, within an hour I was down about 30USD. By the end of that month my 2000USD capital had reduced to just 600USD.
LESSON 1: Never Ever Trade without a Stop Loss. No matter how accurate the signal is, there could be a Black Swan Event, or a Market news that can sway the market against you.
LESSON 2: Never trade when your emotions are high. Never, Ever revenge trade. If you find out you are loosing money on trade, leave the market for the day and start again the next day when you are much calmer.
Always keep.notes on why you lost money on a trade and what you did wrong
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