2024.9.2 Funds: 39282U
Knowing there are tigers in the mountains, I still go to the tiger mountains!
It is another big retracement. The funds have come below 40,000. FLOKI is another currency that made me lose 10,000 U. The short-term rebound did not close the position, and it was another round of through-fall. The bottom is still not in sight. BTC may not break 56,000, and maybe the rebound is coming soon!
Risk and return are proportional. The larger the opening, the greater the loss of funds. My previous positions were actually quite good. Almost every time, the leverage of the head position was less than 1% and was 5 times. There was room for operation both up and down. I didn't expect that an erroneous position would really produce a butterfly effect.
A hurricane blew, and my funds, which should have continued to rise, fell heavily. After falling, it was more difficult to climb up step by step again. I chose to change the trading method. At that time, it was also quite successful to return to the short 50,000 U for a while, but it was fleeting.
Now that I have changed to rolling positions, I want the funds to return to more than 50,000 U quickly, but I am still in a hurry. A wave of wrong opening directions + wrong stop losses made me retreat more than 2,000 U just after returning to 50,000 U, and I felt dissatisfied. Yes, I don't admit defeat, so I didn't open positions at a fixed ratio, and I wanted to open positions by hitting 50,000 U.
I saw another opportunity to eat up the fees, thinking of opening more to eat up the fees, and then returning to 50,000 U with a little more increase. 50,000 U is really my obsession, and I still want to go back immediately now. But the road ahead is long, and I am lost in the fog. Every time I write a diary, I can review and know my mistakes. I also know that it is a mistake, but I still make mistakes.
No one is perfect. I didn't hold on last time and missed the reversal. I don't know if I can survive this reversal.
At present, I have stopped opening more positions below, and I will hold positions and wait for a reversal. Maybe this wave will take a while, as short as a week or as long as a month. Be prepared.
Of all the speculative mistakes, there are few greater than trying to average out losses. Always remember to close positions that show losses and keep those that show profits. There is nothing more foolish than adding good money to bad positions.
