Woke up this morning to find I’d once again, yet again, held onto a losing position—and on top of that, missed a big juicy move. Honestly, it feels awful.
Last night, I saw $SAND getting close to the 2-hour support and thought it was an opportunity, so I entered. I got stopped out first, then it immediately bounced back up. With a heavily loaded 50x leveraged position, those 8 points just vanished.
Reflecting on it, the problem was that I set my stop-loss too casually; afraid of getting wicked out, I placed it randomly. Next time I’ll use a smaller position and put the stop-loss where it belongs. I need to stop fighting my own trades.
$SAND $BTC #Cryptocurrency
Last night, I saw $SAND getting close to the 2-hour support and thought it was an opportunity, so I entered. I got stopped out first, then it immediately bounced back up. With a heavily loaded 50x leveraged position, those 8 points just vanished.
Reflecting on it, the problem was that I set my stop-loss too casually; afraid of getting wicked out, I placed it randomly. Next time I’ll use a smaller position and put the stop-loss where it belongs. I need to stop fighting my own trades.
$SAND $BTC #Cryptocurrency