Damn it! The DOGE contract long position directly lost 25 points, sharing my lesson learned from the heart with everyone.

Just closed my position, and I still haven't recovered emotionally. Posting a real trading record to remind myself and to warn brothers who trade contracts.

This morning around 9 o'clock, I closed my DOGE long position, with an opening average price of 0.0847. I held until 0.08247 but couldn't bear it anymore and cut the position, losing 25.73% of the profit directly, nearly a quarter of my principal was gone. Seeing this number really makes me feel worse the more I think about it.

Initially, I entered the market purely out of impulsiveness. During that period, DOGE kept dropping, and I kept thinking it would rebound, so I opened a long position with the hope of catching the bottom. I didn't carefully analyze the overall trend, nor did I set a strict stop-loss for myself.

When the price dropped a little, I comforted myself that it was just a small correction; when it dropped again, I told myself I could hold long-term and recover the loss, stubbornly holding on to the floating loss. With leverage in contracts, even small adverse fluctuations can multiply losses, and the more it drops, the more reluctant I was to cut, causing losses to snowball. Eventually, seeing my account shrink, my mentality completely collapsed, and I had no choice but to close the position in tears.

Let's talk about the real lessons from this loss.

1. Never go against the main trend; counter-trend bottom fishing is just giving away money.

The market was clearly bearish, everyone could see the price was continuously falling, but I stubbornly believed in a reversal, thinking I could catch the bottom. Contracts and spot trading are completely different; spot traders can hold through floating losses, but in contracts, holding on only increases losses. There’s no room for luck.

2. Stop-loss is not just a decoration; it’s a life-saving line.

The biggest problem this time was not strictly executing the stop-loss. I kept holding onto the hope that “it will recover if it falls back,” allowing losses to keep expanding. Trading is not about feelings; before entering a trade, you should know how much loss you can tolerate. When the price hits the stop-loss level, you must decisively exit. Don’t be reluctant over small losses, or you’ll end up with big ones.

3. When trading contracts, always control your position size; don’t gamble heavily on the market.

I didn’t control my position size well when entering. A slight adverse move caused my account to shrink significantly, leaving no room for error. The market never moves according to your expectations. Betting heavily on a rebound is essentially gambling. Once the trend reverses, there’s no buffer space.

4. Don’t let subjective emotions influence your judgment.

During trading, I was completely driven by greed and unwillingness to accept losses. After losing, I refused to admit my mistake and didn’t cut my losses in time. As a result, a small loss turned into a big one. The biggest taboo in trading is stubbornly holding on to face.

A warning to all contract traders:

1. Contract leverage is extremely risky; it’s a high-risk investment. Those without a stable trading system or who can’t control their emotions should avoid it, as it’s easy to lose most of your principal overnight.

2. Never blindly bottom fish or trade against the trend. Following the trend is the foundation for long-term survival. Subjective guesses about the market are the primary cause of losses.

3. Before each trade, plan your stop-loss and position size in advance. Stick to your rules strictly. Don’t hold onto the hope that “the market will turn around and save me.” The market won’t accommodate anyone.

4. If you’re already holding a position with large floating losses, don’t expect to recover by holding on. Cut losses promptly to preserve remaining capital; this gives you a chance to re-enter later. Stubbornly holding on will only deepen the trap.

This 25-point loss has been a harsh lesson. The market never lacks opportunities, but once the principal is lost, everything is gone. I will definitely change my bad habits of holding on and trading against the trend. Trade steadily, respect the market. I hope everyone who reads this share takes my loss as a warning, approach contracts rationally, and don’t repeat my mistakes. #我的Gate交易时刻