Quote from: notocactus on Today at 11:31:21 AM

Quote from: tvplus006 on Today at 10:59:03 AM

Quote from: Iamcrypticguy on Today at 05:13:06 AM

...Just yesterday, I went 100% long on POPCAT with 20x leverage. Things looked good at first, but within 30 minutes, the price came back to my entry point and I ended up making nothing on the trade.

You made at least two mistakes. The first mistake is that you decided to trade with high leverage and your position could have been easily liquidated. And the second mistake is that when you saw that your position was in profit, you did not fix a part of it.

20x leverage is very dangerous and liquidation comes when price changes about 5% opposite to your trading position. It is not a leverage to use especially with shit meme tokens which can have rug pulls and crashes anytime.

When trading, use a stop loss order to prevent your loss or at least reduce loss severity. When your open position is in profit, set up an order to stop loss for kind of profit if the market suddenly turns oppositely. It is like positive stop loss and you can set it up proactively for having kind of profit to enjoy and also protect your initial trading capital.

Solid point!! You know this is another tip i’m seeing for the first time, positive stoploss, but it’s also like setting TP so as not to loss all the profits gained within the short time frame. I’d keep that in mind as i’m considering joining Trading club championship on Bitget but i won’t be trading futures but would trade both spot and Onchain instead. It’s good as the Op didn’t end up losing cause most times if a futures trade go against the trader it mostly end up in loss.