In the trading world, especially with a volatile market like crypto, leaving an open position overnight without monitoring is a serious mistake that many traders have paid dearly for. The market doesn't sleep, and while you are dreaming, the numbers can change rapidly, turning profits into losses in the blink of an eye.
Why shouldn't you sleep when there is an open position?
1. The market is constantly volatile:
The crypto and futures markets are places where prices change constantly, even while you are sleeping. Unexpected events, global news, or liquidity fluctuations can cause prices to plummet or soar overnight.
2. Risk of losing control:
If you don't set a stop-loss or take-profit before sleeping, the risk of losses exceeding expectations is very high. An unmonitored open position is like a ship without a captain in the ocean.
3. Psychological stress:
Sleeping while having an open position is not only financially dangerous but also affects your mindset. The anxiety of not knowing how the market is performing will reduce the quality of sleep, which in turn affects health and the ability to make sound decisions the next day.
How to trade more safely?
• Always set stop-loss and take-profit:
These are the minimum principles when opening a position. Even in a highly volatile market, these tools will protect you from significant losses.
• Limit trading before bedtime:
If you cannot monitor the position continuously, it's best to limit opening new positions at times when you cannot manage them, such as before going to sleep.
• Use risk management tools:
Leverage is a double-edged sword. Use leverage wisely, and do not risk too much capital on a single position.
• Monitor the event calendar:
Major news, economic events can create strong volatility. Be aware of the market schedule to avoid opening positions at sensitive times.
Conclusion:
The market never sleeps, and you shouldn't sleep when there is an open position. If you cannot monitor continuously, ensure that you have prepared enough tools to protect yourself. Trading is a long-term battle, and the winner is the one who knows how to stay safe and alert amidst constant fluctuations.
Trade cautiously and don't let the market teach you a
