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A Failed Contract Trading Review: Emotional Management Is More Important Than Strategy

The most impressive trade I recently experienced was a short-term ETH contract operation. Although it ended in a loss, the reflection it prompted was far more valuable than a lucky profit.

Trading Background and Logic

· Time: Early December
· Asset: ETH/USDT Perpetual Contract (10x leverage)
· Position: Short
· Entry Reasons:
1. Technical: ETH touched previous high resistance after a continuous rise; a bearish engulfing pattern appeared on the 4-hour chart; RSI was overbought.
2. Sentiment: Market FOMO was obvious; social media widely called for longs, and I judged a short-term correction was likely.
3. Risk Control Plan: Entry price at $2,850, stop loss above previous high at $2,920, take profit target at $2,750.

Execution and Loss of Control

After entering, the price briefly dropped to around $2,800 but rebounded quickly before hitting the take profit. At this point, I made two major mistakes:

1. Moving the Stop Loss: Afraid of profit reversal, I changed the stop loss to break-even, abandoning the original plan.
2. Adding to the Position: When the price rose back to $2,870, I chose to add to the position to average down, attempting to “spread out the cost.”

As a result, the market continued to rise, triggering the stop loss, and ultimately resulting in an 8% loss of total capital.

Review and Reflection

1. Strategy and Discipline Divergence
I have a complete trading system, but when faced with volatility, I replaced rules with emotions. Moving the stop loss and adding against the trend are classic examples of “hope trading,” not “planned trading.”
2. Leverage Amplifies Psychological Weaknesses
Under 10x leverage, price fluctuations impact psychology far more than expected. Even when the direction is correct, the inability to withstand volatility can lead to premature exit.
3. Always Respect the Market
This trade overlooked the power of macro sentiment—at the time, rumors of ETF approvals were circulating, and relying solely on technical analysis to go against the trend carried high risk.

Experience Summary

· Light Position for Trial: In contract trading, position size determines mindset. Future initial positions should not exceed 2% of capital, leaving room for adjustments.
· Fixed Stop Loss: Once set, never manually move the stop loss to avoid “holding through” traps.
· Wait for Resonance: A single signal is insufficient as a basis for opening a position; it should be combined with multiple timeframes and fundamental sentiment.

Advice for Traders

If you are a beginner, please use leverage cautiously. The cruelty of the market is that it will always teach you a lesson when you are most confident. True trading growth often comes from clarity after losses, not from euphoria during profits.

This is not investment advice, only personal reflection. May we all survive and thrive in the market.