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Trader Eugene: Closed most of the ETH long positions, switched to capital preservation mode
BlockBeats News, August 14th, Trader Eugene Ng Ah Sio posted on his personal channel stating: "I have closed most of my ETH positions here to significantly reduce risk exposure—even though I cannot predict how crazy the market will get, multiple warning signs are flashing before my eyes."
The strategy initially went long on ETH at $2500 has been fully realized, capturing both rounds of the uptrend (from $2500 to $4000, then $4000 to $4800). If there is a third round of upward movement (if the assumption becomes reality), at that time, there will be a frenzy scene of traditional financial funds continuously flowing into ETH, with high market consensus. Although this scenario is not impossible, for traders who focus on capital protection, the risk-reward ratio of continuing aggressive long positions is no longer attractive.
While I still hold tactical long positions in other small-cap coins, I have fully reduced my position size and switched back to capital preservation mode.
Let's cherish this final frenzy."
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