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Joining the selected lead trader in copy trading, I was automatically stopped loss by the system for the first time at 25%. It's good that I was stopped loss, otherwise holding the position would be too torturous. The mindset of holding a position can get worse.
In the future, I will focus on only trading with Ethereum, adjusting my trading method to only allow myself to lose 50 points.
Trading volume:
First position of 0.5 lots, fixed 0.5 lots for 20 points supplement, 50 points stop loss, the fees are too expensive, cannot operate continuously, otherwise it’s not worth it. Always getting affected by big market reversals, in the future, let’s be more straightforward, if it’s wrong then just take the loss.
Let's calculate the loss amount for a 0.5 lot trade:
For example, with my current principal:
First position 0.5 lots ✖️ 50 points 🟰 25u
Replenish 0.5 lots ✖️ 30 points 🟰 15u
Total loss: 25u➕15u🟰40u
In the future, I will directly set a stop loss of 50 points for every position opened. Brothers and sisters who are following the trade, please be cautious with the lead in copy trading. The risks of contracts are truly significant, and timely stop loss adjustments are necessary. Otherwise, when a big reversal comes, you might hesitate and end up getting trapped deeper.
Each trade must achieve a profit of at least 2 points before considering an exit. #ETH#