I rushed into the market this morning, intending to quickly arbitrage, but couldn't find an ideal entry point on the chart of a major exchange. After placing a hurried order, I immediately set a stop loss at 0.71 USDT, which resulted in a somewhat unfair loss.
The turning point came in the afternoon. While monitoring the market, I noticed that XMR's price action was unusual—prices kept surging higher, and this upward momentum had been sustained for a while, a typical trend-following signal. I decided to follow the trend: 5 USDT margin, 20x perpetual leverage, full position.
The result did not disappoint. I held from the buy point at 567 all the way to a top at 589 and sold, making a small profit of 0.06 USDT. Although I exited a bit early, my judgment at the time was correct—lock in profits. After all, using leverage requires knowing when to take profits. This move not only recovered the 0.71 USDT loss from the morning but also gained additional profit.
There were three more trading windows in the afternoon, but I started to reflect. This impatient style cannot become routine. True trading success is supported by discipline—stop losses must be firm, scaling in should follow a rhythm, and never let a momentary K-line pattern cloud your judgment.
If I get the chance to increase my position size later (targeting hundreds of USDT), I will execute this strategy more cautiously. As a college trader, it's not about getting rich overnight but about earning some extra money by watching the market closely. Suggestions are welcome.
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I rushed into the market this morning, intending to quickly arbitrage, but couldn't find an ideal entry point on the chart of a major exchange. After placing a hurried order, I immediately set a stop loss at 0.71 USDT, which resulted in a somewhat unfair loss.
The turning point came in the afternoon. While monitoring the market, I noticed that XMR's price action was unusual—prices kept surging higher, and this upward momentum had been sustained for a while, a typical trend-following signal. I decided to follow the trend: 5 USDT margin, 20x perpetual leverage, full position.
The result did not disappoint. I held from the buy point at 567 all the way to a top at 589 and sold, making a small profit of 0.06 USDT. Although I exited a bit early, my judgment at the time was correct—lock in profits. After all, using leverage requires knowing when to take profits. This move not only recovered the 0.71 USDT loss from the morning but also gained additional profit.
There were three more trading windows in the afternoon, but I started to reflect. This impatient style cannot become routine. True trading success is supported by discipline—stop losses must be firm, scaling in should follow a rhythm, and never let a momentary K-line pattern cloud your judgment.
If I get the chance to increase my position size later (targeting hundreds of USDT), I will execute this strategy more cautiously. As a college trader, it's not about getting rich overnight but about earning some extra money by watching the market closely. Suggestions are welcome.