Top trader Eugene: I have closed all positions, uncertain whether $60,000 can be held.
Top trader Eugene Ng Ah Sio posted on the X platform, "To provide some updates on how to deal with losses in real-time for some people, I have recently experienced two drawdowns in trading perpetual contracts, and due to the recent price trend, I have also experienced a significant drawdown in spot trading. The first trading error was due to a lack of discipline in executing my ETHBTC trade, as I closed the BTC short position too early. Ultimately, I closed the ETH long position, resulting in a net loss of $1.1 million on the two trading pairs. Although I avoided some pain, I decided to go long yesterday after the market plummeted on Friday. However, the market clearly did not reward this decision, and the spot price continued to fall to $60k. The entire account lost about 3-4%, totaling $750,000, and I have closed all positions. After this, I clearly realize that the unknown unknowns have increased. Although the risk-reward ratio of buying at support levels is usually better than chasing momentum, I am not sure if $60k will hold. Additionally, I have experienced emotional imbalance for the first time in a while, so I have decided to stay away from trading for the next few days to adjust my mindset. This is not always easy, but we will regroup and move forward."
