fallowtheblackrabbit

Don’t enter if you’re not confident. And if you still decide to enter, at least make sure you have enough room to withstand the possible lows the position may hit. Otherwise, this happens: your margin starts shrinking, and if you’re trading in cross margin, it drags down your other positions. You begin closing trades little by little, trying to manage the drawdown, and before you realize it, if you don’t close the position, you’re either falling into a liquidation pit or into the opposite — stress, anxiety, and a bad time.

I still struggle with it. I keep holding losing positions longer than I should. But little by little I’m starting to make the decision to cut losses. I still need to react faster, but with my previous mindset, this position would have liquidated me. $SOL