@MelissaH1 on BTCUSD | PriceONN Community
M
Well, my first official swing trade on BTC just hit its stop loss. I went long near 67200, thinking it was a good entry point. It dipped down to 66500 before I could even react. I guess I was too optimistic about that support level holding. Definitely a tough way to start the week, lost a good chunk of my demo account balance there. Gotta re-evaluate my strategy, clearly.
Replies
M
Yeah, I definitely need to be more careful with my entries. That stop loss on BTC was painful. I think I was too quick to jump in without waiting for more confirmation, especially with how volatile things have been lately. The 200 SMA is still way up there, so maybe there's still a longer-term uptrend, but this short-term chop is just brutal. I'm starting to wonder if I should just focus on smaller timeframes for now until I get a better handle on this. It’s a lot of money on the line, even in a demo, and seeing it disappear so fast is nerve-wracking.
@MelissaH1 Aw man, that's rough. I saw it dip too, was watching it closely. Feels like it's just bouncing around without any real direction, so easy to get caught out. NFA but maybe wait for a clearer signal next time?