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This position already had a small profit from the moment it was opened yesterday. I initially held only 5 ETH, but as ETH surged overnight, I added to the position three times in a row, ending up with a 20-ETH short position at an average entry price of 2457.
In the early morning, a violent surge pushed ETH to 2532, with losses reaching 1600U and at one point approaching my stop-loss price of 2565.
The ZEC short position I held had remained profitable throughout the day, but after following the explosive surge in the early morning, it went into the red.
Luckily, I held on. 2532 was the high, and after 4–5 a.m., the price gradually continued to fall. I closed the position at 7 a.m. when ETH plunged to 2506, turning a loss of 1800U into a profit of 1000U. This trade recovered 2800U in losses. The turnaround from the brink of liquidation to profitability was thanks to my overall analysis and judgment, along with some luck.
For futures trading, you must enter at the right time: open a position before resistance levels and decisively close it after a breakout.
When you are uncertain, never take a large position. Another important point is to analyze and judge the overall trend, while incorporating the news. Only then can you avoid being shaken out or lured into a position.
Wishing all futures traders brilliant results in September.
#GateEventContractChallenge #eth #btc