Quote:
Originally Posted by amRam
Boys, its not all fun and games and winning. I got rekt here because I didn't take enough care setting stops the way I normally would. Rolled the dice paid the price... and the salt in the wound is this went on to recover MASSIVELY so it was the right gut call but poor execution on my part. I only lost 2k it was a small bet, but if I did it correctly the profit would've been about 8k the following day.
edit: the leverage shown at the bottom of these graphics is my account max leverage, not the actual margin used on trade... most of my trades are 2-5x.
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Yeah, I found I lost way more with poorly set stops than I would have otherwise. I have usually ended up setting them to avoid liquidation because they all have invariably risen well above again in the next day or two, just a matter of hanging on.
What I usually do now, is once something is in a decent profit that I would be happy with, I set a trailing stop a couple of hundred below and just let it run until it sells off on it's own.
I still wish I could set it time dependant as well as a dip, it is often a very small spike for < a few minutes that triggers them.
Also - I now avoid apps and do PC only when possible. I once lost 4K by trying to set them on my phone while riding my bike, the drag handles are tiny and I ****ed it up and triggered an immediate sale