When I first started trading crypto, there was one trade I knew I would never forget.
Even now, whenever I think about it, I still tell myself, âI really should have set a Stop Loss that time.â đ
Back then, I had only just started experimenting with Futures Trading. I didnât know much about charts or technical analysis yet. But the market was going up, and I started feeling that familiar FOMO â that feeling of âIf I donât enter now, Iâm going to miss it.â
So eventually, I told myself, âItâs probably going to keep going up,â and opened a Long Position.
Not long after I entered, the price actually started going up.
I still remember how happy I was seeing that green Profit number on my phone.
I was literally thinking:
âI made the right decision.â đ
The problem was, I hadnât really decided where to take profit. I hadnât set a Stop Loss either.
And when the profit kept increasing, I didnât want to close the position because I thought, âMaybe itâll go even higher.â
And thenâŠ
đ The price suddenly started dropping.
At first, I wasnât too worried.
âItâs just a temporary pullback⊠itâll come back up.â
So I waited.
But it didnât go back up like I expected.
It kept falling.
The profit I had been happily watching slowly disappeared.
Profit became zero.
Then it turned into a loss.
At that point, I kept checking my phone over and over. I didnât want to close because I knew I would be locking in a big loss, but at the same time, the position was getting closer to liquidation, which made me even more nervous.
Eventually, I couldnât wait any longer and closed the position at a loss.
It was honestly a strange feeling â going from being so happy about the profit to feeling completely stressed out by the same trade within such a short time.
After that trade, I sat down and really thought about what I had done wrong.
The truth was, I couldnât blame the market.
I simply didnât have a plan.
I hadnât decided where to take profit.
I hadnât decided where to cut my loss.
I saw the price going up and entered because of FOMO.
After that experience, I started asking myself a few questions before entering a trade:
âHow much risk am I willing to take on this trade?â
âIf Iâm wrong, where will I exit?â
Instead of immediately entering whenever I saw the price going up, I started paying more attention to my Entry, Exit, and Risk before making a decision.
I lost money on that trade.
But that loss became one of the most valuable lessons in my crypto journey.
In trading, knowing how much you could lose if youâre wrong is just as important â if not more important â than thinking about how much you could make.
Looking back now, I donât really hate that trade anymore.
Because that one experience taught me firsthand how dangerous FOMO can be, how important a Stop Loss is, and how quickly greed can change the way we make decisions when weâre already in profit.
What about you?
Do you have a crypto trade youâll never forget?
Whether it was your biggest win, a painful loss, or a trade that still makes you laugh whenever you remember it â
Share the most unforgettable story from your Crypto Journey in the comments. â€ïž
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