FOMO of bull market
FOMO of bull market
So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it’s only up from here, and you see how wrong that turned out.
Take whatever lesson you want. For me, it’s to stick with 2-4x leverage with which I tend to do good, don’t allow greed to enter.
Always look at open interest and funding rates to know if you’re bullish because of your personal analysis/intuition, or if you’re generally bullish with everyone. The longs liquidated since the last 12 hours was like $310 million. Safe to assume that there was a good amount of euphoria.