A big drop, two outcomes

A few days ago, the rate-hike bearish shock hit, and BTC kept plunging in successive waves—over a hundred thousand traders across the network were liquidated.
A few days before that, Xiao Zhou chased the spike with a heavy long position, believing the market could still push to new highs. He held stubbornly without a stop-loss, adding more as it kept falling—so overnight, his profits were wiped out, and his principal was cut by more than half. He spent the whole night staring at the charts, unable to sleep.
Meanwhile, Old Chen from the same group entered at a high level as well. But during the rebound, he reduced his position in batches to lock in most of his gains, and during the decline he only ran short-term arbitrage with a small position size—so he wasn’t badly hurt by the crash.
He said: “Taking profits off the table is everyday business; only by rotating through the daily trade is the real king. The market has never lacked opportunities—what it lacks are people who know when to stop and respect the trend.” #BTC