#hippo 1 minutes from floating profit of 2000u to slippage loss of 2000u, the cryptocurrency market is truly fraught with risks. In this market, even with strict stop-loss orders, sometimes they do not get triggered. However, with your take-profit orders, no matter how much you could potentially earn, you cannot make more money than what you've set. This is the market; it is very inhumane.
Moreover, I generally encounter several instances each month where my set stop-loss orders do not trigger, and by the time I realize it, I have lost even more. I can only manually stop-loss, and this happens even when I am constantly monitoring the market. For example, with the trade I made on
#prompt , I had set a stop-loss of 6000 USD. Just because I got tired and stopped closely monitoring, the stop-loss did not trigger. When I checked again, I was already facing a floating loss of over 14,000 USD, and it was heart-wrenching. I had to painfully enforce a manual stop-loss to close the position, as referenced in the attached image.
Just now, I made a trade on
#hippo , increasing from a capital of 10,000 to 30,000 USD within half an hour. At the peak of floating profit, it was over 8000 USD. Then this coin started to fluctuate. When my floating profit was down to around 2000 USD, I felt that the market could not continue moving up. I decisively closed my position manually. Just two seconds after I closed, the market surged rapidly, climbing 7 points in one minute. As a result, my profit went from 2000 to a loss of 2000. This is the market; even two seconds after closing, it did not spare me, and I lost 2000 outright. However, I have experienced such situations too many times, so I am no longer surprised. This shows the high-risk nature of trading at any time.
I want to give everyone a piece of advice for trading: this industry is devoid of humanity. It is a place where the strong prey on the weak, and it is a very brutal environment. If you do not have proper risk control and defense, you are just lambs to be slaughtered. Even if you have good defense, once you place a trade, you must watch the market closely and monitor your position, because the cryptocurrency market can throw unexpected surprises at any moment, and it only takes one minute to wipe you out.