Physcological mistakes that led me to blow my account
1. Moving the stop loss . Believing that price cant really move that low. learnt the hard way with bank coin #BANKUSD . Removing the stop loss thinking that there will be a sl hunt. Stop loss is very essential
2. Holding on to a losing trade that is charging ridiculous funding fees of 2% at an hourly rate #MYX . this was such a nightmare
3. Holding on to a losing trade as well that is giving me funding fees. i believed that because the funding was lucrative. buyers would keep on pushing the pricing up. only for the funding rate to just drop from 1.6% to 0.4 % in a split lf a second and realising a reversal in price that came with a huge loss.#HOMEusdt
4. Doing DCA on a losing trade coupled with a high leverage. This brought me to the liquidation price at the speed of lightning.
5. Beleiving that some coins at the top losers will rise up. no matter the set up some coins wil not ever rise up nomatter the setup. #MelaniaScam
6. trading coins which are to be delisted hoping that it will quad rupple like the #ALPACA . that was 1 in a million scenario. it just ends in tears
7. trading new coins placing buy orders hoping that they will increase in value like moodeng, wif, algo and inj. The truth is this is also rare. its better to wait and find the right authentic set up
1. Moving the stop loss . Believing that price cant really move that low. learnt the hard way with bank coin #BANKUSD . Removing the stop loss thinking that there will be a sl hunt. Stop loss is very essential
2. Holding on to a losing trade that is charging ridiculous funding fees of 2% at an hourly rate #MYX . this was such a nightmare
3. Holding on to a losing trade as well that is giving me funding fees. i believed that because the funding was lucrative. buyers would keep on pushing the pricing up. only for the funding rate to just drop from 1.6% to 0.4 % in a split lf a second and realising a reversal in price that came with a huge loss.#HOMEusdt
4. Doing DCA on a losing trade coupled with a high leverage. This brought me to the liquidation price at the speed of lightning.
5. Beleiving that some coins at the top losers will rise up. no matter the set up some coins wil not ever rise up nomatter the setup. #MelaniaScam
6. trading coins which are to be delisted hoping that it will quad rupple like the #ALPACA . that was 1 in a million scenario. it just ends in tears
7. trading new coins placing buy orders hoping that they will increase in value like moodeng, wif, algo and inj. The truth is this is also rare. its better to wait and find the right authentic set up