Let me ramble a bit
It's been almost two months since I entered the crypto circle, on November 1st I switched from okx to Binance (principal 3866u)
This month's maximum loss, three trades directly lost a quarter of the account, this month's profit has given back 800u, account principal lost 800u
Also met the village chief on the 1st and 8th during the Bitcoin trade, at that time BTC had a floating loss of one or two hundred u, I was very anxious and wanted to wait for it to recover. Just then the village chief was live streaming, I asked him in the stream whether to cut losses, and he told me not to cut losses and not to add positions. Later, I couldn't help but add positions to pull up the price, and in the end, it turned out the village chief was right
At that time, the price kept breaking new lows, and the floating losses kept increasing. My mind was crashing, my hands were shaking, and I thought about the fear of being liquidated when I entered the crypto circle (okx) in October, losing the entire account 1200u (principal 400u) in one go. I couldn't help but keep closing positions in the meantime, and in the end, I lost more than 700. After closing, I finally let out a sigh, losing means I can continue to earn, at least I don't have to bear this kind of pressure
The last two ETH trades were similar to BTC. I remember it was around 10:30 PM when the market suddenly surged. I guessed there would be a chance to drop in between, but I felt very scared. Even though my liquidation price was in a safe zone, I still closed my position. Then the second ETH trade was when I felt like I was losing all day, which was very frustrating. I thought about winning it back, and felt that after ETH surged, I could short it at a high to recover some losses. Then the market suddenly surged again, and I closed my position out of fear.
Reasons for losses
1. At that time, the BTC liquidation price was very safe. I could have turned this unrealized loss into a long-term trade or waited for a chance to recover in between.
2. The two ETH trades resulted in significant losses that day, which was frustrating. I forced myself to trade. The first trade, I didn’t pay attention to the U.S. stock market opening time. In the second trade, I closed some positions, and even with a safe liquidation price, I could wait for a chance to recover.
3. Or there are areas I haven’t realized, but I will engrave the three trades in my mind and reflect on them constantly.
In the past two days, I’ve been following the village chief's live stream. He is different from many plaza hosts I've encountered. I won't say any flattering words; just one thing: instinct. I think the village chief is very strong, especially in terms of his foundation in the Chán theory.
So today I watched the village chief's live stream and continued to invest in BTC and ETH. This time I wasn't afraid (well, actually when I opened it and saw the unrealized losses, I was a little scared), but I will continue to follow along. Borrowing the village chief's words, the so-called missed opportunities are all fantasies, and the so-called holding positions are all fears. This time, I will not easily increase my position or close it. If the village chief increases his position, I will too. It was from the village chief that I learned about the Chán theory. I have placed orders based on the village chief's recommendations for beginners in Chán theory, and I also found materials about Chán in the internet and am reading them. Now I will reduce some short-term trades and try long-term (small amounts).
It’s really a bit verbose. I have to turn it into an article to post. I won’t change it, as it’s just a record of myself.
