Recently, we had experienced three major dumps in just the past few weeks, and right now we have recovered. During those dumps, I had a very unsatisfying trades that includes my emotion. I have been manually trading in Bitmex, and it wasn’t as successful as I thought it would be. I have been trading for a while, and I had made successful trades, but during those dumps, it was not.
For all the times that I have traded, it was my most loss. I thought the price of Bitcoin was already in the bull market. So I bought a LONG trade during around the $3600~ then the DUMP happened. I was watching the market and saw PURE Red in my portfolio. I have thought to my self what I learned, the STOP LOSS. I was too late in doing that because, at the start, I saw already that some of my bags have become negative and should’ve cut it already.
The main takeaway of this experience is that during the times that I am manually trading, I take into consideration my emotions and my BIAS beliefs that the market would go up and it will go according to my plan. It’s never like that in the market, especially in cryptocurrency markets because of its volatility.
It’s best to maximize your trades and opportunities with using Gunbot as your automatic trading bot.
It prevents you from poor judgments and let the indicators tell you when to buy and sell. It supports a lot of exchanges and possible future exchanges too.
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