The genius trader and mentor has fallen 💔, the reason for the fall is overleveraging and excessive position size,
It's just that I, as a seasoned contract trader, entered my first position at 70,800 and got caught in a 3,000+ point drawdown without adding any position,
In the second position, I only chose to add around 66,800, and when it dropped to 65,700, I added a fourth position,
The last position was added around 64,000, and this position management strictly followed my holding rules,
The entry points for adding positions were also strictly based on support and resistance levels,
But there is a fatal weakness: support and resistance levels work well in choppy markets, with plenty of profit potential,
However, once a trending market appears, it’s game over. I often think, I, the mentor, am also an old leek,
If old leeks are like this, then new leeks entering contracts must be facing a catastrophic start,
This time, my loss from copying trades was actually just a loss of about 150 USD of principal, plus 200 USD profit,
Totaling nearly 350 USD, which is equivalent to one or two months’ income from live streaming work,
Enough for a dozen foot baths, although most of the brothers copying trades this time were trading with 10 USD,
Several brothers with dozens or hundreds of USD have already withdrawn when things looked off,
Calculating it, I, the mentor, lost the most 😅,
Next, I will return to live streaming work, after all, work and life still need to go on $ETH .
It's just that I, as a seasoned contract trader, entered my first position at 70,800 and got caught in a 3,000+ point drawdown without adding any position,
In the second position, I only chose to add around 66,800, and when it dropped to 65,700, I added a fourth position,
The last position was added around 64,000, and this position management strictly followed my holding rules,
The entry points for adding positions were also strictly based on support and resistance levels,
But there is a fatal weakness: support and resistance levels work well in choppy markets, with plenty of profit potential,
However, once a trending market appears, it’s game over. I often think, I, the mentor, am also an old leek,
If old leeks are like this, then new leeks entering contracts must be facing a catastrophic start,
This time, my loss from copying trades was actually just a loss of about 150 USD of principal, plus 200 USD profit,
Totaling nearly 350 USD, which is equivalent to one or two months’ income from live streaming work,
Enough for a dozen foot baths, although most of the brothers copying trades this time were trading with 10 USD,
Several brothers with dozens or hundreds of USD have already withdrawn when things looked off,
Calculating it, I, the mentor, lost the most 😅,
Next, I will return to live streaming work, after all, work and life still need to go on $ETH .
