LeoFinance| How I looked before I leaped, and still got liquidated in futures trade
Screenshot from Tradingview
In this post I share with you how I got liquidated with quite a lot of money, as a student from here. š„“
Oh I looked alright, then I leaped, then I fell. I fell so hard. I am talking 50 bucks deep.
Donāt scold me. Letās laugh about it and let it pass. I know my friend is shaking his head right now becauseā¦ well..
I rode this uptrend on four one hour candlesticks like I was riding a mad horse. Within the first one hour, it took me deep under the waters I was almost drowning. I am talking -30% deep.
Screenshot from Tradingview
My TP was set to just the tip of the first green candlestick (in the yellow box). The second green candlestick teased me. Well I am just now realizing how a good exit that was. But they say āhad I known is always at lastā, so, again, donāt scold me. š
On a break now. Will visit the books in this time-off.
Tell me I am not the only one that motivates(or literally talks to) the market to go in a direction to favor me when it is going in the opposite direction. It funny the things I say.
āCāmon, give daddy a big green candle.ā I know you are laughing your balls out right now. But what has man got to say in this situation while watching your LONG order going downtrend? What do you say when your trades turn red? I really want to know. Do not tell me you just look on painfully. Lol
It was a binance futures order with a 54 buck margin. In the third candlestick, the order got to +28 bucks, acting on a hammer candlestick from the previous hour candlestick. The reason why I did not close the order there was because I had calculated double of this amount to come out of the hammer indicator.
I waited and watched on as the market juggled me around. I monitored as the price moved uptrend and downtrend and consolidated at various levels. The market almost quite basically teasing me.
When the price moved downtrend past my entry point and giving negative, I would start āmotivatingā it then it would look as if it had heard me and stops there to form a consolidation. Same thing happened in uptrend.
After the market took me deep and very near my liquidation price, I told myself if I recover this I would take a very long break. The time I was saying this I was now praying for just a breakeven, but as soon as it started an uptrend I quite quickly forgot about this. Just like any human would do. ;) In fact at some point, manās just praying for a little uptrend to cut losses.
Most painful tease is when the market goes downtrend and forms support and resistance there below your entry point. š„“
The market has too much fun with our money.. I guess the break has come naturally. š
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STOPCheck out our last posts:
I mostly just say
Fuck, I'm fucked!. Then I panic until I start seeing signs of recovery. And as the position recovers, I wonder at every second whether it'll reverse again and if I should close now to avoid a much worse loss or to wait for a breakeven(like you). This is precisely why I left the market - I lack discipline over my emotions. Sometimes, the market is just testing your discipline. You enter a position and it doesn't automatically start going up, there's a small reversal before it starts going your way. But if you lack the discipline to wait it out, you'll close in panic as soon as shit starts going south.Oh and btw, I'm not shaking my head. I smirked when I saw this because I knew you and I knew you'd still do this anyways. I'm just glad you're not moaning about it like a bitch. Lol