Record of breaking even on the second day
Current balance: -1730000, unrealized loss increased by 935000😵
Good news: Swing trades are gradually generating profits💰
Bad news: Short positions were opened too little, resulting in higher unrealized losses, feeling a bit nauseous
Today, U.S. stocks started to drop mixed with many bearish news
On the contrary, the crypto market is holding strong, not dropping to the 60300 level given during the live stream
Thus, the 5 BTC short positions didn't successfully take profit, but that's no biggie, we'll re-enter when it goes up
Highest unrealized loss over 900,000 USD
Everyone fears sudden extreme market conditions, combined with the info from last year's charts
The lowest hit 48888 mainly for three reasons
Concerns about U.S. economic recession, large-scale unwinding of yen arbitrage, and chain liquidations amplifying the drop
I mentioned during the live stream, this situation leads to chain liquidations, big fish eating small fish, when the big fish fall, the small fish get swallowed too
48000 is the shutdown price for miners... etc.
Constantly looking for positions on higher timeframe charts, seeking psychological comfort
Trying to push the liquidation levels below 40k
To say I'm not nervous would be a lie, directly facing a massive unrealized loss
At this point, the most important thing in trading is to cut losses!
Just like Guozi Ge often says, define gains by losses
As long as you earn more than you lose, that's the right trading
Trading has its ups and downs, which is completely normal
These are the words I often tell the brothers in the live stream
But when it comes to myself, I couldn't control my human nature
Entered sleep with a bit of greed and fatigue
Woke up the next day, the originally profitable position had no defense
From unrealized profit to unrealized loss, a drop of 4500 points in one day
Holding onto a lucky mindset led to even more unrealized losses
Mindset is indeed important, but risk management is even more critical
So my story is to tell everyone about the necessity of using stop losses in trading
There are no perpetual champions or myths in the market
Even if there are, those who survive until now can probably be counted on one hand
The market has endless possibilities, but buddy, the bullets in your pocket are not infinite
No one's money just falls from the sky, this market will always have that one opportunity
As long as you seize the opportunity, you will accumulate wealth
It's easy to conquer a territory, but hard to defend it
Wealth that you can defend is your true wealth; otherwise, it's just a bunch of numbers
Once you make a profit, take it out, don’t follow my path
Real trading has started, let’s communicate and grow together
I'll stop here for today, thanks for watching 💛
Peace out♥️
#BTC $BTC Live stream main account: @老郑睡不醒
{future}(BTCUSDT)