Crypto trader Bonk Guy said he recently lost about $100,000 while trading a newly launched token, using the episode to reflect on what went wrong in his process. According to his post, the loss was driven mainly by overtrading and by repeatedly burning capital while chasing new trading pairs and liquidity rotation. He also said the position size was far larger than what he would normally allocate to this type of trade.
Bonk Guy said several recent losing trades shared the same pattern: he was leaning on other people’s views instead of building his own conviction. In his account, most of his gains in the current cycle came from making independent calls and holding those positions. After a period of success, however, he said he became complacent and started putting on trades that were not necessary.
He added that sometimes the best trade is not trading at all. Going forward, he said he plans to focus more on opportunities where he has real conviction, even if that means missing part of a move.
Crypto trader Bonk Guy said in a post that he recently lost about $100,000 trading a new token.
He said the loss mainly came from overtrading and from steadily draining capital while chasing new trading pairs and liquidity rotation. Bonk Guy also said the position was much larger than what he would usually put into similar trades.
Looking back on his recent performance, he said several losing trades had the same feature: he relied on other people’s judgment instead of forming his own conviction. He added that most of his profits in the current cycle came from making independent decisions and holding those positions, but after a stretch of success he became complacent and began making unnecessary trades.
Bonk Guy said that sometimes the best trade is no trade at all. He said he will focus more on opportunities where he has genuine conviction, even if that means accepting that he may miss part of the market move.
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