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Real Trading Record: Hundredfold Challenge
Starting November 25th, 500u challenge to reach 50,000u!
Today’s balance: 1876u, yesterday’s loss: 628u!
I apologize for the loss yesterday; I feel bad for leading everyone into a loss!
This loss was truly unnecessary! The main reasons are as follows:
1. On Friday and Saturday, the market declined multiple times to around 3030-3050. I didn’t dare to buy in, expecting a break below 3000, but it didn’t break and the rebound was quite strong.
2. During the day yesterday, ETH was very strong, and Bitcoin reached a support level again, so I looked for a pullback to buy more long positions. But as soon as I bought at 3000, it broke!
3. I didn’t set proper stop-losses. Logically, once 3000 broke, I should have cut losses and watched. The reason I didn’t stop out was because Bitcoin was at the 87000 support level, and I thought it would hold and bounce back!
4. When adding positions, I thought it through, but when the situation turned bad, I added more, and then I received a call and had to leave immediately, missing the chance to cut losses!
5. Yesterday, I also set a stop-loss at 2899 in advance. I wouldn’t hold on stubbornly forever. My money is my money; I feel distressed when I lose. I can accept a single loss of up to 25%. Mistakes happen; just look for opportunities to recover. Taking losses is normal, but stop-loss is for survival!
Last week, I opened positions too small and was too cautious, which caused many followers with over 100u to fall behind. Moving forward, I will return to normal position sizes: ETH 2-5 units, Bitcoin 0.03-0.1 units. I will choose good entry points and broaden my perspective to strive for early recovery and portfolio rebound!
Once again, I apologize to everyone. Sorry for causing you losses!