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Honestly, every time a scam coin shows signs of rebound after a dump, I can't help but buy the dip. The success rate of doing this is about seven out of ten times making a profit, and even if I judge incorrectly the other two times, I set a stop loss at the previous low to exit. The last time? Just hold on.
The question is—what do I do after making money? Do I sell at resistance levels or wait for a new high break? You might not believe it, but out of a hundred coins, I might only encounter five times where the price breaks high directly after a dump. The other ninety-five times, either I really lose interest and take profits, or I get nervous and sell in a panic, kicking myself later.
Because of this, I always keep my position sizes small when opening a trade. After all, a few times the profit multiplies ten or a hundred times, that’s what I aim for. The obvious benefit is— even if I hit a stop loss, I won't lose much, and I can stay calm. The pressure of watching the charts is reduced, and sometimes, not watching can even lead to surprises. The downside? I often face coins that can't be pumped up, spending a lot on fees but ending up break-even or with small losses.
My current setup is like this: spot trading is the main part, futures only account for one-third, and my investment in scam coins within futures is just one-tenth of that third. Because of this, I keep sticking to the strategy of buying the dip in scam coins and dreaming of hitting the take-profit point. Honestly, once a scam coin is pumped, it can go beyond expectations, and I don’t care about small profits along the way.
I totally understand the trembling hands when selling out prematurely. The key is to endure through that one time.
Small position trading is indeed awesome. It not only reduces pressure and allows for a good sleep, but also makes it easy to get caught by capital fees.
Breaking new highs on a copycat is really one in a hundred times, and I’ve only encountered that five times out of a hundred. Why do I always hit that ninety-five times?
Bro, your setup is reasonable. I’ve now switched entirely to trading contracts. It’s a bit addictive. I see you’re taking it slow, so I’ll follow your pace.
The thing about panic selling is really top-notch; I need to set up an automatic take-profit mechanism, or else I’ll be kicking myself every day.
Copycat projects are just gambling on that one pump to pump the price, and the rest of the time it's just small towns paying for capital fees...
Having a small position size definitely keeps the mentality stable, but it also means the dream of doubling often gets shattered by reality.
Only five out of a hundred coins can break new highs? No, that data is scary; I feel like my success rate is even lower.
I've already paid enough capital fees to buy a few tea eggs, and it's all because the coins just can't rally.
Mainly spot trading with contracts as an auxiliary; I do it this way too. Be cautious with copycat leverage; can't afford to lose.
Wait, are you saying the success rate of bottom fishing is 70%? Then I need to learn your coin selection method.
Who wins first, human greed or trembling hands?
The phrase "hands trembling, selling in a panic, going home to slap your thigh" is hilarious; I do that every time.