$ETH Review: Recently got roasted hard, but it's all good, my trades deserved the heat! After all, some decisions really were stupid from a god's perspective. I usually play the ultra-short game, and after all these trades, I've had a few rough runs with big moves against me. No matter how much I added to my position, my total stack was only about 6 ETH at most. With my initial capital of 2800 USDT, a 6 ETH position was basically a full stack at 3x leverage, which is pretty safe.
When ETH shot up to around 1840, my trading buddies were blowing up my phone, telling me to cut my losses. I thought it couldn't push any higher and even considered adding a couple more ETH at 1880, but I hesitated, weighed the news late at night, and decided to cut back 2 ETH instead. Little did I know, right after I cut back, it started to drop—it felt like I sold at the top. Looking back, that cut was pretty dumb.
Then it dipped to 1670, but I missed the chance to close my position. I saw it bounce back to 1700, so I held on. ETH fluctuated between 1700 and 1780 for several days, which was pretty torturous. I ended up adding another 2 ETH along the way.
Why didn’t I use stop losses? I do use them when going long in a bear market, but not when I'm shorting. My positions aren't huge—I'm not going 100x leverage all in. Using tighter stop losses just eats into my capital, and that’s a real pain!
In this one-sided bull run, my max drawdown was 20%! Other big traders faced max drawdowns of 60%, so the pressure and backlash they endure is way more than what I've experienced!
Thanks to the homies who’ve stuck with me! And to those who had to stop-loss and bail, I'm sorry! This trade was indeed trash! To those who roasted me, I won't argue back—I'm a dog for that!
The trading journey will never be smooth sailing! Let's keep pushing!
When ETH shot up to around 1840, my trading buddies were blowing up my phone, telling me to cut my losses. I thought it couldn't push any higher and even considered adding a couple more ETH at 1880, but I hesitated, weighed the news late at night, and decided to cut back 2 ETH instead. Little did I know, right after I cut back, it started to drop—it felt like I sold at the top. Looking back, that cut was pretty dumb.
Then it dipped to 1670, but I missed the chance to close my position. I saw it bounce back to 1700, so I held on. ETH fluctuated between 1700 and 1780 for several days, which was pretty torturous. I ended up adding another 2 ETH along the way.
Why didn’t I use stop losses? I do use them when going long in a bear market, but not when I'm shorting. My positions aren't huge—I'm not going 100x leverage all in. Using tighter stop losses just eats into my capital, and that’s a real pain!
In this one-sided bull run, my max drawdown was 20%! Other big traders faced max drawdowns of 60%, so the pressure and backlash they endure is way more than what I've experienced!
Thanks to the homies who’ve stuck with me! And to those who had to stop-loss and bail, I'm sorry! This trade was indeed trash! To those who roasted me, I won't argue back—I'm a dog for that!
The trading journey will never be smooth sailing! Let's keep pushing!