@cryptorangutang Well done on staying patient! I ended up putting almost all my capital on buys last night, was so sure of the a V-recovery. Got caught in the bulltrap on my futures acct too :(. TIL
Still on the sidelines since the drop, haven't bought anything
No need to rush into positions just like there is no need to call for a bear market after a 23% correction
Will be looking for longs (and longs only) after the price develops a bit more first
Let's say you got 100k
You can enter a trade with even 20k
But your SL should be set at a loss of 1k/2k.
That is basic risk management.
On low caps there is no way of cutting those losses quick therefore your entry should be limited.
I'm surprised how many people misunderstand 1-2% position sizing rule. It doesn't mean you are only allow to enter a trade with 1%-2% of your stack. It means that you can even enter with 30% of it but your loses should be cut at that 1-2% level