One of the most frustrating experiences I've had in trading this week is trying to break out of a hedge position after making repetitive mistakes trading RSS3/USDT. If you're a seasoned trader, you know exactly what I'm talking about when you refuse to use stop loss and taking revenge on an asset you lost money too.
So, here's the deal I had a hedge position that wasn't working out as planned after doing my technical analyst seeing that the asset has been dropping over the past 13 months and still doing that without and form or rebound. I wanted to close it, but every time I tried, I ended up making the same mistake overthinking, second-guessing, and ultimately, losing more money 💸 as the loss keeps getting bigger, It has been like that since this week and has made stuck in a never-ending cycle .
The more I tried to escape by creating more limit orders to average down my entry price , the more I got stuck I am currently like a dog chasing its tail except instead of a tail it is my hard earned cash flying out the window bleeding on daily bases without me knowing how to get out of this circle, I know I needed to break the cycle, by just using a stop loss but I just couldn't seem to stop making the same mistakes .
Hopefully I will summor the courage to actually take the loss so I can have a clear mind for some new trade set up