Real Trading Records and Self-Reflection (1) from $THE 2024.11.29-12.1 Opened the position at 3.1 PM on the 29th, and then it started to fall. This process was very painful to hold, as I used 20x leverage, and the margin was not enough, constantly hovering on the edge of liquidation, with the maximum loss being -5500u. In between, due to insufficient margin, I partially closed several times.
During this time, I experienced several price levels that stayed flat for a long time, which was quite torturous. Fortunately, I kept buying low and selling high, bringing my cost down to 2.74 (the closed portion at that time was -3900u). Just now, a wave of price increase allowed me to break even, and I closed everything. Not losing money is considered making money, so I’ll have a good sleep and continue.
Reflection: 1) Initial position must be as low as possible, leaving enough room for myself. 2) When there is enough profit, dare to increase the position. Since I chose to play contracts, it is inherently a risk and gamble; do not fear liquidation and being wiped out. With insufficient principal, one can only rely on high risk for high returns to build wealth! 3) Contracts must be entered and exited quickly. Once again, I did not strictly execute the stop-loss mechanism. When my cost reached 2.98, the stop-loss was set at -2000u. At that time, if I had directly triggered the stop-loss and waited for another opportunity to re-enter, the mindset of holding the contract for profit after breaking even would have been completely different. This time, I was lucky to have the chance to break even. If it continued to drop, I would have been completely liquidated, losing both my principal and the chance to gamble again! 4) One must stick to their judgment while strictly executing discipline. Trading itself requires going against human nature and staying away from one's comfort zone!
$THE Panic selling short-term ended, starting to stabilize Can aim for a small rebound It feels like Binance listing this coin resulted in a total mess, it's too ugly, but there should be something, just that the process was too torturous.