#20u起家日记 2.24 154 days
Funds 400u
It broke, I've become the king of retail investors.
I woke up this morning and found a good order for shorting, entered at 12.9, with a stop loss at 13.1, just two points, and aimed for a take profit at 11.8. But after a while, I got scared and sold. Made ten u.
I realized I only make 10 u when I profit, but lose 40 u when I lose. The coins are getting fewer and fewer.
I opened the options and saw that the ETH put option I bought yesterday at 2725 only made 1 u. By this afternoon at four o'clock, it had only dropped to 2723, and then it plummeted at four fifteen. It’s frustrating; if it had dropped another twenty points, I could have made 30 u on ETH.
Previously, I had eight consecutive losses in options. I realized I couldn't even reach the options expiry time. Last time, before the big drop, it turned into a profit of 30 u overnight. Last time, if I had exited one position, I could have broken even. All the options I bought had a risk-reward ratio of 1 to 10, around 3 u each, and I lost 3 u when I lost. I need to study this more, buying two more. Losing ten in a row is just bad luck, alright? Next time, I’ll exit early. I bought all put options for ETH. You can try it out, buy those with a risk-reward ratio of 1 to 10, 3 u each. My buying logic is that ETH is at a high with a pin bar divergence, so I buy for the next day expecting ETH to drop near 150 points. But I can only say I'm always just a bit off; maybe I should buy for the third day...
Why did ETH not drop yesterday, and why did it plummet today? My explanation is that no break means no establishment; no pin means no short. If you look at the four-hour chart, it previously touched 2845 twice and dropped down, then reached around 2810 on Sunday, and hasn’t been able to drop since. What does this mean? It means no break, no establishment; it will definitely test the upside. If it doesn’t test, there won’t be a big drop, so it will move sideways at a high level, forming a small double top with a V reversal. Finally, after the pin is established, a lot of take profits will occur, and that’s when it starts to plummet.
So if you short near 2810, you should exit after a while; you need to understand why it can’t drop. It still needs an upward pin. If it drops a bit, it forms a four-hour big double top and then starts to come down. This is its biggest pain point.
By the way, BTC’s four-hour and daily moving averages are dense, plus ETH is pushing up, with ETH’s four-hour pin reaching the recent top. If you actually look at the weekly BTC chart, a small double top with a V reversal appears at a high level along with a downward pin. I believe it will choose to reverse downward, and there will likely be a sharp drop soon. This is just my personal speculation as the king of retail investors.