Not the best timing, but I have BTC/USD short open from $4041. Target is low $3000's.
Where have you placed the stop loss?
I adjust it based on market movement. Since we've made $3880, SL is now at $4201.
If price goes above $4100 again, based on market movement I suggest you adjust it at low $5000's.
I covered at $3840. Re-shorting this pop here. I don't hold my trades very long.
You must be crazy to short this market. I have seen countless of people blow up their accounts.
Remember in late 2014, there were quite a few articles and talking points about "how to short the bitcoin".. and surely shorting had been very profitable in 2014; however, the bottom had largely been reached by the end of 2014, even though in 2015 BTC was pretty flat, so there was not really major advantages to shorting or longing in 2015.. until the end of 2015, when BTC moved from $250 to $500, and thereafter, it became much more difficult to short bitcoin and make profits. We probably did not recognize for sure that we were out of the bear market until about May 2016 when prices broke above $500 into the $700s and largely stayed above $500 ever since (except for the temporary bitfinex blip).... only a mere 15 months ago.. how times fly in cryptolandia.
Sure, some folks can make money in any market, but it certainly helps to somehow figure ways to work with the trend.