Yesterday, sometime around midday I saw two beautiful Long/Buy trade setups one on SAND chart and the other on MANA chart, I would say both charts where looking so identical like you can barely tell which chart is for Sand and which chart is for Mana, long story short I took both trade and my entry was more like a sniper entry, meaning I caught the reversal point and entered both trades at the right time, my pending orders where perfect. After a few hours I was already in profit but not as much profit as I wanted so I decided to hold for a bit longer waiting for the market to pump higher to hit my take profit or get to at least 40% to 50% profit before I get out of both trades.
Forward to a few hours before the huge Bitcoin dump at night/this early morning, while most people were still sleeping, I was in about 30% plus in profit on both trades and I entered both trades with 10x leverage because I have done my money management and risk management, I already knew how much I would lose if both trades go against me to hit my stop loss and I was cool with them but since I was already in some profit and almost hitting my target of 40% to 50% profit I decided to give myself more assurance that no matter what happens I would still close the trade in some profit because I was feeling sleepy, so set my stop loss above my entry point on both trades and went to bed with my mind free and not panicking.
I woke up a few minutes before the Bitcoin dump happened to do some research on an article that I wrote and uploaded already this morning, while I was rounding up that post the huge Bitcoin dump happened and I received notifications from bybit that both my trades have been closed and immediately knew it was because of the Bitcoin dump earlier today because Coingeckco, Coinmarketcap, and all other crypto exchanges I use have notified me within the space of 30 minutes that dropped below $23k and later below $22k but it was a quick dip below $22k because it pumped right back up and now Bitcoin is still and currently trading above $22k. The recent Bitcoin dump made me understand and realize once again the importance of Stop Loss and Take Profit because Stop Loss literally just saved my trades and my A$$ from huge losses or liquidations.
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