The overall profit of the contract this year was more than 100 w usdt, but the total loss also reached 664,743 usdt. The contract did not make much money. The main reason was that the copycats made a lot of money by copycats in the second half of last year and locked in the profits in time in March. Most of this year's losses were caused by a long quilt cover on April 19. The position was reduced by 5% on the first day. That day, I had a heavy position of 22.6 BTC as currency standard. As soon as I opened the order, it plummeted by 1k points and was locked at 30,300. Since then, btc has followed the 2-3 day line correction cycle and dropped to 24800. On June 18, BlackRock applied for a Bitcoin ETF and the price suddenly reached 30,000 before it started to make profits. I carried that long position for almost 2 months, and the handling fees were worn out a lot. The position was almost liquidated. The closing point was around 25200. How did I survive that crisis? I shared at the time that hedging was a way to save the day.

I had an argument with my LP early that morning and ran away from home and checked into a hotel. I was so confused that I casually opened a large long position without even looking at the contract carefully. As a result, the price plummeted that day, and the long position was deeply trapped at 30,300.
At that time, the long position was more than 400 W RMB, and the liquidation was at 25200. When the 1-day line fell below the zero line and hit 27300, I was worried about the risk of liquidation, because once the 27000 support fell below, it would fall to 25200. central location. Either add bullets or reduce positions and stop losses. There is no way to buy 4 million RMB of USDT and add margin in the short term to stay away from the liquidation point, and I am not willing to reduce my position any more, so I choose to take advantage of the trend and open a short order to hedge, and when it rebounded to around 28300, I opened a short position of 1/3 of the long position. The order has been taken until profit is taken at 26100 to mitigate the risks caused by the continuous downward trend. As some short orders realized profits, the forced liquidation was quickly reduced to 23,300, and the cost of opening a position dropped to around 28,600, so there was no need to worry about it later.
Finally, the trend reversed on 6.16. If someone had a slightly unstable mentality, he would have closed his position long ago or waited for the liquidation to exit. The moment profit was stopped in June, I was relieved. However, from the unwinding of that order to 31,800, plus the profit from the short order hedging in the middle, I made a total of more than 4 BTC. After mid-July, everything was mainly short selling, and everything went smoothly until September 11.
Emotions are the ultimate killer. Any loss of emotional control can cause us heavy losses. Tell yourself: Never trade when you are depressed, because it is very easy to make mistakes. Occasionally I will get carried away, but I will quickly calm down and regain my rationality, and find ways to mitigate risks and reverse the impasse. Keeping positions safe is the lifeline of everyone's trading and should always be the first priority.