I have made money from the last bull run and withdrawn it into my bank to not care about this drop. One thing I am certain, I will buy back when the market is favorable. I have small orders already filled but big ones waiting at the very bottom. Dont be scared. Bitcoin from the very start is like this. We've seen worse. It will recover.
I closed off my short on the last terrific shake down to 7.3k. Too much profit to ignore.
Then I thought - before starting to nurse it again, why not go long?
So I have a long position now, from the past low. It's in profit right now, but I would like to wait a bit more before closing and reversing it.
So, I think this is the problem with margin trading. You begin cautiously - it's a hedge, you know - and before you know it, you turn into a gambler. A winning gambler for the time being, but that's the point: the change in attitude. Using margin trading properly and sticking to the plan - ot at least to the mindset - requires lots of discipline.
My hunch about quick-reversing and longing is still paying out, but if I manage to close this in profit, I'm going back to my safety short. Then let it go down to 2k. I won't care.
Even if you win at margin trading you can lose everything when your exchange gets hacked. To margin trade you have to risk keeping your coins on an exchange, and none of them are reliable.
If they don't get hacked they get overloaded, and you can't login to close your position.