"The Tortoise and the Hare" was once a famous trader! He persisted in shorting on the road of trading, and the final loss exceeded 3 million US dollars. The lead trader only brought numbers, but the followers lost real money!
Two months ago, he was still at the peak of his popularity. He could easily reach 1,000 followers without calling for them, and the scale of funds he controlled was more than 10 million US dollars, ranking first in the list of funds. What is puzzling is that under such a huge loss, the number of his followers still remained at a full capacity of 500.
"The Tortoise and the Hare" has a special liking for short trading in terms of trading style. In the currency circle, going long or short is the choice of investors themselves.
Focusing on a single direction is theoretically more firm in one's belief than those who kill both long and short. After all, the price trend is not always a vertical unilateral market. Even in a very obvious upward trend, there will be long-short games or small range corrections brought by retail investors. But he has a fatal trading habit - he is addicted to carrying orders.
Although he has successfully turned the tide and turned losses into profits by taking risks by carrying orders several times. But we must understand that carrying orders often leads to liquidation and loss of all money. I am not here to gloat over others' misfortunes. I just think this is a profound warning to you and me!
Look at this simple and cruel logic of wealth evolution:
From 1 to 2, 2 to 4, 4 to 8, 8 to 16, these numbers seem to be skyrocketing in geometric series, but no matter how you change, it only takes one failed carry order to return to zero.
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