A trader just closed a $DOOD long at a $90,327 loss.
$DOOD rallied nearly 300% this week, yet somehow, this trader managed to turn the move into a nearly $100K loss.
The crazy part? He used no leverage, only 1x. A 30% drop was enough because the position was roughly $300k.
He thought he was buying the dip, but $DOOD was still up around 75% from where the pump started.
He was trying to catch a dead-cat bounce. Instead, he caught the bill.💀
Well, that's the risk of catching a falling knife. You might be hoping for a dead-cat bounce, but you never know if the bottom is actually in.
But when you look closely at it, waiting for confirmation and keeping the position size small could have saved him, and anyone else making the same mistake, a fortune.
Did you chase the DOOD pump? How did it turn out?
Drop your results below 👇
$DOOD rallied nearly 300% this week, yet somehow, this trader managed to turn the move into a nearly $100K loss.
The crazy part? He used no leverage, only 1x. A 30% drop was enough because the position was roughly $300k.
He thought he was buying the dip, but $DOOD was still up around 75% from where the pump started.
He was trying to catch a dead-cat bounce. Instead, he caught the bill.💀
Well, that's the risk of catching a falling knife. You might be hoping for a dead-cat bounce, but you never know if the bottom is actually in.
But when you look closely at it, waiting for confirmation and keeping the position size small could have saved him, and anyone else making the same mistake, a fortune.
Did you chase the DOOD pump? How did it turn out?
Drop your results below 👇