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I encountered some setbacks in today's trading. When checking my account, I found that the short order for FARTCOIN triggered a stop loss, resulting in a loss of $1500. This experience has made me deeply reflect on my trading strategy.
Opening a position in the morning was too hasty, as no short order was established at key resistance levels, and instead, positions were entered randomly during the decline. This kind of operation makes any small rebound likely to trigger a stop loss, increasing unnecessary risk.
Fortunately, other shorted cryptocurrencies have performed relatively stable, with no significant fluctuations. This once again confirms the importance of diversification strategies.
This lesson reminds me that when trading cryptocurrencies, I must be more cautious and disciplined. I should patiently wait for the best entry point instead of blindly chasing prices. At the same time, I also need to pay attention to setting reasonable stop loss levels to control risk.
In future trading, I will pay more attention to technical analysis, especially focusing on key support and resistance levels. Additionally, I need to strengthen my research on market sentiment and fundamentals to make more informed trading decisions.
Although this loss is frustrating, it has provided me with a valuable learning opportunity. In the highly volatile cryptocurrency market, every mistake can become a stepping stone to progress. I believe that by continually summarizing lessons learned, I will eventually achieve success in this challenging field.