Back to collectionA Lucky Entry Near $0.0099 Sparks a Risk Debate
The extremely low price from liquidation night still circulated in the group. A few lucky buyers who had entered near $0.0099 posted screenshots of their holdings and drew an admiring crowd. The screenshots put faces to a few winners of the disastrous price spike, but did not show that most people had the same opportunity.
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The extremely low price from liquidation night still circulated in the group. Some holders saw it as a missed opportunity; others remembered that bids had nearly vanished at the time. The Night Watchman worried that newcomers seeing only screenshots of gains would misread the risk involved.
A few lucky buyers who had entered near $0.0099 posted screenshots of their holdings and drew an admiring crowd. Some asked how they had dared place the orders; others planned to leave orders waiting at that price. The Night Watchman did not judge their trades. He reminded the group to distinguish between a low seen afterward and a price at which a trade could actually be filled at the time, and asked the posters to explain whether they had used limit or market orders.
The screenshots put faces to a few winners of the disastrous price spike, but did not show that most people had the same opportunity. The group's talk began to shift from admiration for the low to order types and the ability to bear risk. Anyone eager to copy the trade still had to decide whether they could accept a future plunge that never recovered.