Biggest Loser | $APR -45.63%
$APR closed at $0.0249 today, down 45.63%—the undisputed biggest loser. It has slid 85% in 30 days from $0.1635. On Oct 17, volume surged and drove a single-day drop of 37.28%; at 2 a.m., it plunged to $0.0229. If you want to catch this falling knife, forget market orders: place limit orders at $0.0233–$0.0238 and wait for a second test of the lows. Cap leverage at 2x, set a stop at $0.0220, and target $0.0397. If volume comes in, look to $0.0485. If it breaks below the $0.0224 retest level, don't get emotional.
The whole past month has been one big fire sale: $0.1635 was the distribution top in September, where market makers pumped it up for retail buyers, and since then it hasn't even managed a decent bounce. On Oct 12, volume picked up and it plunged 26.25%; on Oct 17, volume hit 6.1 times the usual level and it shed 37.28% in a day. After wicking down to $0.0229, it recovered on lower volume. The funding rate is still at 0.0136%—even after a drop like this, longs are still paying. Bottom-fishers must have nerves of steel. An 85% drop doesn't mean it's done falling. Before catching a falling knife, work out your liquidation price.
$APR distribution top $0.1635 · wick low $0.0229 | T1 $0.0942 · T2 $0.1619 | retest $0.0224
My sister's friend A Nan was on this ride today: she saw the -45.63% drop and figured a massive rebound was inevitable, so she went all in on a 10x long at $0.0249, with 1000U margin and a liquidation price of $0.0224. At 2 a.m., the market maker's wick came down. The low was $0.0229, just a couple of points above her liquidation price—the wick barely missed her, then bounced back. She eventually closed at $0.0249, breaking even, but it scared her half to death. Her exact words: “It is cheap, sure, but this trade has really been nerve-racking.” Take it from her: before catching a falling knife, know exactly where your liquidation price is. The market maker's wick will always be faster than your hand.
Risk warning: An 85% drop doesn't mean it's done falling. The first step before catching a falling knife is to work out your liquidation price. The market maker's wick will always be faster than your hand. It only takes one wick to get liquidated. Position sizing and stop-losses matter more than direction. Don't cry over losses; hit like if you made a profit.
$APR closed at $0.0249 today, down 45.63%—the undisputed biggest loser. It has slid 85% in 30 days from $0.1635. On Oct 17, volume surged and drove a single-day drop of 37.28%; at 2 a.m., it plunged to $0.0229. If you want to catch this falling knife, forget market orders: place limit orders at $0.0233–$0.0238 and wait for a second test of the lows. Cap leverage at 2x, set a stop at $0.0220, and target $0.0397. If volume comes in, look to $0.0485. If it breaks below the $0.0224 retest level, don't get emotional.
The whole past month has been one big fire sale: $0.1635 was the distribution top in September, where market makers pumped it up for retail buyers, and since then it hasn't even managed a decent bounce. On Oct 12, volume picked up and it plunged 26.25%; on Oct 17, volume hit 6.1 times the usual level and it shed 37.28% in a day. After wicking down to $0.0229, it recovered on lower volume. The funding rate is still at 0.0136%—even after a drop like this, longs are still paying. Bottom-fishers must have nerves of steel. An 85% drop doesn't mean it's done falling. Before catching a falling knife, work out your liquidation price.
$APR distribution top $0.1635 · wick low $0.0229 | T1 $0.0942 · T2 $0.1619 | retest $0.0224
My sister's friend A Nan was on this ride today: she saw the -45.63% drop and figured a massive rebound was inevitable, so she went all in on a 10x long at $0.0249, with 1000U margin and a liquidation price of $0.0224. At 2 a.m., the market maker's wick came down. The low was $0.0229, just a couple of points above her liquidation price—the wick barely missed her, then bounced back. She eventually closed at $0.0249, breaking even, but it scared her half to death. Her exact words: “It is cheap, sure, but this trade has really been nerve-racking.” Take it from her: before catching a falling knife, know exactly where your liquidation price is. The market maker's wick will always be faster than your hand.
Risk warning: An 85% drop doesn't mean it's done falling. The first step before catching a falling knife is to work out your liquidation price. The market maker's wick will always be faster than your hand. It only takes one wick to get liquidated. Position sizing and stop-losses matter more than direction. Don't cry over losses; hit like if you made a profit.