I cut my losses. I went to Shenzhen, and everything was fine before I left, but after a meal, things blew up again. When Bitcoin fell below 65,800, I completely lost confidence in what was coming next. Cutting my losses was inevitable; the question was where to do it. The market kept falling with no support at all, so I couldn't make a decision or wait for a rebound.
On the way back, I finally decided to return to the parking lot, stop the car, and cut my losses. My crypto long positions are over. I won't be going long on these major coins for the time being.
Looking back at this whole stretch, I made a little over $5,000 shorting, lost $2,100 going long on Ethereum, $150 going long on Bitcoin, and $200 going long on US stocks. Altogether, I lost about $2,500. That wiped out half my profits and pushed me to my psychological limit.
Over. I cut my losses. Now it can go up. Good luck, everyone.
On the way back, I finally decided to return to the parking lot, stop the car, and cut my losses. My crypto long positions are over. I won't be going long on these major coins for the time being.
Looking back at this whole stretch, I made a little over $5,000 shorting, lost $2,100 going long on Ethereum, $150 going long on Bitcoin, and $200 going long on US stocks. Altogether, I lost about $2,500. That wiped out half my profits and pushed me to my psychological limit.
Over. I cut my losses. Now it can go up. Good luck, everyone.
