"The inspiration and reflection that Reef brought me"
Foreword: I hope that everyone who is still fighting against the dog farm can let go of themselves or become a better version of themselves.
In fact, I have been reviewing my trading strategies and order-taking mentality in the past few days. I didn’t think of playing with contracts some time ago, but I just happened to use it to play with other friend platforms that gave me a few hundred U of trial funds...
It's okay to play and lose, but my script is very similar to other people's. He won for me again and again, and my mentality began to expand. It was at this time that I encountered the coin Reef...
Wow~ The price tripled from the bottom. After seeing that there was no problem, I just left it empty. I didn’t think much about it, it was a gift anyway, so I started from 14 to 19. During this period, I got to know the tariffs and prices again. Does the term "dog bank" exist? At this time on Binance, I opened a short order at reef 19 and a long order at CKB 12. I wanted to follow the banker to get the increase and fees.
Fortunately, one day later, the total profit of these two orders was close to 3000u. The total profit of the tariff was close to 300u. At this time, the Reef had dropped to 15-16. Of course, I didn’t think too much about whether there was another order. Once it falls back, everything will be fine.
Little did I know that after carrying the charges for several days, my trial fee of nearly 100u was deducted (the trial fee was discounted by 50%) and the floating loss reached nearly 1000u. At this time, the reef had reached the position of 21.
At this time, I saw an upward convergence matrix. Normally it should be a breakthrough position, but I don’t know why I feel that I should have a "dog bank" mentality at this time. What I want at this time is to open a short position. In just one night, Reef moved from 21 to 26. At this time, my floating loss on two orders had reached nearly 2500u.
But if I give up at this time, doesn’t it mean that all my profits in the previous few days have been in vain? So I started to allocate funds to increase the margin, and planned to fight this coin to the end...
At this time, the margins of my reef orders on the two exchanges have been raised to around 13,000u, and the liquidation positions have reached 0.0054 and 0.0049 respectively.
But I have seen similar situations before, including that such a strong currency usually has the opportunity to explode on the last day, and I have learned from the past that I did not participate in TRB at that time, but it pulled from single digits all the way to 629...I am Be an audience
So I was actually quite worried about whether I would just rush up and poke him out. I spent some time thinking about whether to stop the loss... but what I was facing at this time was a currency that did not have a deep correction. myself in the mirror
I know very well that if I just let him continue, he will be no different from a gambler, but will it just keep rising like this? But it wouldn’t be a problem to sell garbage with such a low market value several times... I fell into self-questioning and self-answering reflection.
I saw that the tariff had dropped to -0.09%, so I decided to continue to "bet on". At this time, I basically understood that all my thoughts at this time were just to find ways to rationalize my "continue" behavior. The price of reef is 0.0025
At this time, I looked back at the short order at 21. In fact, it was just a word of greed. It was a strong pull and a high degree of control. I did not follow the long position or wait any longer, just to copy the short position from 19 to 16. Just a single success.
Then I opened it again the next morning and saw with my own eyes that it suddenly climbed from 24 to 0.002793, close to the 28th floor, and then quickly fell back to 25. I knew that Gouzhuang had started to act again. At this time, the floating loss of the position came to close to 3200u... and At this time, I was powerless. I knew I would have another chance to continue climbing but I didn’t have the courage to stop the loss.
In one afternoon, the floating loss became 4300u. I knew that I was obviously on top and wanted to bet against this garbage. But I didn’t have the courage to choose to go long or stop the loss. Now I know very clearly. I fell deeply into it... I was in the state of boiling a frog in warm water and watched with my own eyes as the dog farm slowly raised the water temperature.
That night, my mood actually got better, because this was the first time that the tariff became positive... The floating loss once fell back to around 3,700. When I was shopping and looking at the positions, a drop of rain fell on the "Close Position" position, which almost made me lose my money. I ended this order immediately, I was scared to death
The next morning, this was the first morning after the Federal Reserve announced its first 50 basis point interest rate cut... After yesterday's price shock, a new group of small partners should have opened short orders, directly pulling the price back to At the position of 0.0031, my floating loss came to -4700u...
I was watching very calmly, and I didn’t even have the strength to resist anymore. I just waited quietly for the day when the force was forced to settle (0.0049).
Two hours may be shorter. The currency price dropped from 0.0027 to 0.0036. In the meantime, I made up the margin and chased short positions (the average opening price reached 0.0027), and I became a complete gambler.
At present, the overall margin has been increased to more than 20,000 U, and the current floating loss - 7290u can now understand the feeling of those who carry the order, saying that when the order is passed, they will go to see the sea🥲
Very understandable…
Now at 1730 in the evening, there is a main rising wave again today, and the currency price has risen directly to break through 0.004 within two hours... The current floating loss has come -10709u's loss has come to nearly NT$350,000
Obviously, the floating loss was less than 80,000 yesterday morning, but because of my greed, I increased leverage and ignored the warning of such a strong currency and high-density market control⚠️
I knew that I was not far away from being liquidated, but I was still full of unwillingness. I knew that not pressing the stop loss would be like a frog in a boil, but it was really the word "unwilling" that caused the problem.
In addition, I did have the experience of carrying an order from -1400 to +1400, so I wanted to reduce the negative number by adding margin, but it got further and further away.
A few hours later, at night, the price dropped directly to 0.0048, and the floating loss came to -16105u, which was about NT$500,000. I actually felt very unwilling and regretful. I knew clearly the risks I might face at every step, but I still chose to take the risk. Step towards the abyss
I made an appointment with a friend to hang out and chat. I’m still very grateful to him for allowing me to better adjust back to a normal life.
Once it fell to 0.004, I did not choose to stop the loss and exit because I saw a glimmer of hope and felt that everything had a chance to fall back to my original position or even lower, so I chose to continue holding the short order in my hand.
One day later, it is now morning, the price has reached 0.0047, and the floating loss has returned to -14990u, which can also be said to be a loss of 15000U, carrying a loss of nearly NT$480,000...
I mentioned this matter to two friends at one point. One of them asked me to think about it carefully, and the other said that if the price does not drop after 5 hours, I should stop the loss.
But I still want to choose to believe in my trading strategy. Do you mean that I believe in the strategy? Or in fact, I just don’t want to close such a big hole at all. Maybe I just want to make a negative order. Maybe only bystanders can see clearly.
Then the day came, when it dropped directly from 36 to 46, watching the endless flow of buy orders suddenly rushing in all the way to 50, I chose to stop the loss at 43. It was very quiet at the moment, but it seemed that the stone in my heart had finally been let go.
I lost a total of 12460U on these two trades, which was almost NT$400,000. I learned a lot, and I also saw the accurate control and harvesting ability of this dog dealer. By the time I woke up from sleep, I also officially saw him break through the 50 position. Now it is back at 0.0048, so I feel that my choice of stop loss is not bad.
Is this a lot of loss? I asked myself this, after I stopped the order, in the early hours of the morning I analyzed the market according to some data I had checked in the past few days and followed the market with a strict stop loss strategy. In addition, I made money without opening the reef in the past few days. Overall, Probably a loss of more than 7800 U
Seeing that the tariff has now reached -0.1888%, and the price has fallen to 0.00494, I know that the dog dealers are about to start taking action again, and another group of people are coming in to play. I have some thoughts and ideas that I want to share these days. Here you go:
1. Don’t short a junk coin whose market value is very low and has fallen by more than 90%.
2. Don’t set your stop loss too close, otherwise you may be liquidated by the banker.
3. Life is still important, and so are the family members around you. Spend more time with them.
4. Please set a stop loss and imagine in advance how you will operate when an extreme market situation comes.
5. If you want to equalize the price, don’t just increase the price by 5% or 10% to gamble.
6. Please don’t short a junk coin that has a very low market value and has fallen by more than 90%.
If this article is helpful to you, or reminds you of something you want to share, please leave a message below~ You can also follow me. I hope I can share more experiences in the currency circle with you in the future❤️
