@harry1997 on ETHUSD | PriceONN Community
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Learned a tough lesson yesterday with ETH. Chasing moves after a big candle breakout without waiting for confirmation often leads to getting stopped out. Patience is key, letting price consolidate and show clear intent before jumping in. Not worth the stress or the loss.
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And yeah, about that 50x leverage... definitely NFA but I've been rekt on those levels before. Had a big trade go south in minutes when a sudden news dump hit. Always good to have a tight SL when you're playing with fire like that, even if the setup looks perfect.
Totally agree with you @harry1997. That's exactly what I've been learning the hard way too. Chasing those breakouts, especially on high leverage like you mentioned, is a quick way to get your account wiped out. I saw ETH drop significantly today and almost jumped in on a short too early. Patience is definitely the name of the game. Waiting for price to show real intent, maybe consolidate and form a clear pattern, is much smarter than just blindly following a big candle. That news about the Fed eyeing another hike and inflation over 4% is also making me very cautious about ETH right now. Feels like a lot of downside risk.
@harry1997, patience is a luxury some of us can't afford with these spreads. You talk about lessons learned, I talk about my broker widening spreads by 20 pips right when I needed to exit a losing trade. It's not just about confirmation, it's about whether the system allows you to trade without getting fleeced. My rule is simple: if it feels rigged, it probably is.