I was one of those who took the ADA's rocket from 0.000018 to 0.000040.
With $120 on BitMex and a 10x leverage, I made U$4,800 of profit because I took profit on 0.000024 and I reinvested everything again; then I took profit on 0.000040 and then I reinvested 25%. But ADA didn't keep going up as we all thought. It went down to 0.000034 and I lost my 25% because of the leverage.
Then the entire community here in Trading View was expecting that ADA will continue climbing after reaching 0.000032. But it didn't, it went down.
I lost what I earned at the beginning because I was using leverage and because just like you I was analyzing the chart, reading ideas and knowing that BITMEX:ADAXBT had to sky-rocket again at some point.
I was afraid to open a position because I wasn't sure if my trading knowledge and the knowledge of many other traders was good enough. The thing is, with the crypto market is hard to know because you can't see the market manipulation in a chart.
BITMEX:ADAXBT WILL GO UP FOR SURE, and we want to get in when that happens but at the same time we don't want to lose money guessing when this will happen. BUT WE DON'T KNOW WHEN IT WILL HAPPEN. So, why not betting for both positions SHORT and LONG at the same time. In this way, you will be IN when ADA goes to the moon and you will be prepared to not lose your money if the price goes down.
You can open two Bitmex accounts and go for a long position with the 50% of your investment in one of the accounts, and go for a short position with the other 50% in the other account. Set up a close action in the short position when the price drops 10% and if the price goes up, be ready to close the position anytime you want after the prices are more than 10% up. (This is only if you are using 10x leverage)
The step-by-step STRATEGY is here.
With $120 on BitMex and a 10x leverage, I made U$4,800 of profit because I took profit on 0.000024 and I reinvested everything again; then I took profit on 0.000040 and then I reinvested 25%. But ADA didn't keep going up as we all thought. It went down to 0.000034 and I lost my 25% because of the leverage.
Then the entire community here in Trading View was expecting that ADA will continue climbing after reaching 0.000032. But it didn't, it went down.
I lost what I earned at the beginning because I was using leverage and because just like you I was analyzing the chart, reading ideas and knowing that BITMEX:ADAXBT had to sky-rocket again at some point.
I was afraid to open a position because I wasn't sure if my trading knowledge and the knowledge of many other traders was good enough. The thing is, with the crypto market is hard to know because you can't see the market manipulation in a chart.
BITMEX:ADAXBT WILL GO UP FOR SURE, and we want to get in when that happens but at the same time we don't want to lose money guessing when this will happen. BUT WE DON'T KNOW WHEN IT WILL HAPPEN. So, why not betting for both positions SHORT and LONG at the same time. In this way, you will be IN when ADA goes to the moon and you will be prepared to not lose your money if the price goes down.
You can open two Bitmex accounts and go for a long position with the 50% of your investment in one of the accounts, and go for a short position with the other 50% in the other account. Set up a close action in the short position when the price drops 10% and if the price goes up, be ready to close the position anytime you want after the prices are more than 10% up. (This is only if you are using 10x leverage)
The step-by-step STRATEGY is here.