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Coming back from social engagements, I opened the market and found that ETH had already fallen below the set price level. I was originally quite confident in this position, but I didn't have time to place a stop-loss order before it was already in trouble. Fortunately, ZEC had set up an automatic take-profit, which helped recover some losses. Regarding ETH, I actually had a short position to hedge risk, but I only realized later that the margin for the short was much smaller than the long position. Now it has become an awkward situation. This is why no matter how perfect the trading plan is, if execution is lacking, it's all for nothing. The volatility of ETH and ZEC has indeed been quite fierce these past few days, and it looks like I need to adjust my position structure carefully.
Speaking of which, the market doesn't wait for anyone. Stop-loss orders need to be set before you leave the house. No matter how clever the strategy, without execution it’s all in vain.
Picking up some blood from ZEC is a lifesaver, but the ETH lineup needs to be reorganized. If the position structure isn't adjusted properly, you'll suffer again next time.
Execution is truly the hardest part of trading; no matter how good the plan is, you have to follow through.
The short hedge isn't as large as the long, isn't that just fooling oneself?
ZEC can still take profit to save itself, but ETH will have to accept defeat.
Recently, the market has been punishing those who are not professional enough.