Lesson #10: Bitfinex Short Gone Wrong – Dangers Of Stop Limit Orders

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Open Comments

EOS couldn’t hit the 5 mark after a nice run to the upside. There was a crack in momentum and good chance for the bears to take over.

Final Review

My stop loss didn’t not get trigger resulting in this massive -4.3% loss! Should have done a market stop loss or just closed position and not let it go overnight. Everything else about this trade went really well and I would have been pretty happy with my theoretical stop loss. What a lesson here for me and everyone else. I used to never use forced stop losses in equities and this is a good reminder why.

If I did this trade again I would have A) gotten out when the price held it’s highs or at least cut position B) Considered making a market stop loss C) Closed position of I didn’t decide on B.

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