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Trader Eugene: The recent long SOL losses, failure to decisively stop losses and excessive addition of positions are the key mistakes that led to losses.
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2024-12-25 01:02 1,841
Golden Finance reported that trader Eugene Ng Ah Sio shared a summary of recent transactions, revealing his heavy losses when long SOL. Eugene turned to long orders on SOL and its ecosystem after BTC made profits, originally setting a medium risk-reward ratio. However, the price of SOL failed to rise as expected, and Eugene failed to stop the loss in time. He added to his position when SOL fell to US$200, resulting in a loss of US$6.2 million, approximately 10.2% of the total account. He reflected that failing to stop losses decisively and over-adding positions were the key mistakes that led to losses. Fortunately, he eventually managed to make up for his losses through a series of profitable trades and concluded the importance of avoiding sunk cost thinking.
Keywords: Bitcoin
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