Member-only story
My DeFi position was liquidated twice in a week
By now you all know what happen this past week. UST is currently trading at $0.1 and the value of LUNA has basically been evaporated.
In the mean time, SOL also fell by almost 50% since the beginning of the month, while I put 2/3 of my portfolio in a LONG position.
Granted, I am doing all these as an experiment and not playing with my life savings.
Still, the lessons learned here is worth writing down.
Stop-Loss Triggered in 10 days.
SOL was trading at $89 when I get into position on May 1st. At that time I felt SOL was at a low point. Plus, I felt I should test out different strategy to learn. Well, learn I did.
By May 10th, SOL fell to $64.5 and Stop-Loss was triggered. 3.8 SOL and 287 USDT were returned.
With SOL around $64.5 at the time, 3.8353 SOL is worth $247 dollars. So at the time when stop-loss was triggered, I received: $287 + $247 = $534. With the original investment of $607, the loss was $73, or 12%.
That wasn’t too bad, if I didn’t put the fund right back into another position.
After consulting with the a few people, the consensus was that SOL was falling faster than BTC. Once BTC stabilizes, SOL should come back up. So I double down and continue…
