A little sad story - page 2. | Bitcointalksearch.org

sarmrakib

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Quote from: libert19 on April 13, 2021, 12:46:34 AM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

Its really happen when we have some free money .It has lost anyway .however its really a sad story to read and also a learning touch for the beginner and who are in loss on trading as well .We need to give up our greediness and need to get our profit proportionally .However you could made some more money but this time luck not supported to you .However more careful on next time to take your profit .

Lanatsa

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Quote from: Vaculin on April 18, 2021, 06:58:59 PM

Quote from: nelson4lov on April 18, 2021, 06:39:34 PM

Quote from: libert19 on April 13, 2021, 12:46:34 AM

snip...

Damn, that's as bad as it looks. So sorry about the loss of the funds even though it was freely given. I understand your predicament because I've been in your shoes before (yes, with bybit too) but in my case, I was liquidated for longing bitcoin when it was still battling to get passed $12K resistance back in August - September if I remember correctly. I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself. Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

Regrets always happen after we commit mistakes. I hope we can interchange it but we don't.

However, this also gives us the benefit in a way that we must have to do something for not to happen again in the future. It is also a way that could help us to change our strategy, to set our mindset, and particularly is to enhance our decision-making. It somewhat we need to face this just open up our minds that we are wrong and finally corrected.

Experience is the best teacher and we wont really learn up something if we don't experience those mistakes.It isn't necessary because its always a inevitable thing to happen.

We don't know on what would happen ahead and we don't able to make out decisions based up on our own presumptions sometimes it can neither be right or wrong.

When we do make out presumptions its a 50% chance that it could be right or wrong.

jostorres

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Quote from: nelson4lov on April 18, 2021, 06:39:34 PM

I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself.

Even you will be assuming like there are many other opportunities will be available in the future, I guess everyone will be feeling out the pain of losing even that is a free money. That is human nature and when you're feeling like that then there are good chances for you not to commit same mistake again and again.

Quote from: nelson4lov on April 18, 2021, 06:39:34 PM

Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

Leverage trading is seeming too cruel one because when we are losing the pain will be felt in multiple times because leveraged trading is all about in our understanding as easy money because for our same capital we get more exposure. When we are calculating about profits in leveraged trading, if we calculate about losses if we lose then we can avoid such frustration.

Quote from: Vaculin on April 18, 2021, 06:58:59 PM

It is also a way that could help us to change our strategy, to set our mindset, and particularly is to enhance our decision-making.

I am sure trading is always give you chances to realize the root-cause of mistakes and chances to change our strategy and to tune up our mindset/decision-making capabilities. But, people who now will learn from their own experience will simply move on without learning anything. I guess most people are simply moving and this and it is the reason they are committing mistakes again and again.

Vaculin

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Quote from: nelson4lov on April 18, 2021, 06:39:34 PM

Quote from: libert19 on April 13, 2021, 12:46:34 AM

snip...

Damn, that's as bad as it looks. So sorry about the loss of the funds even though it was freely given. I understand your predicament because I've been in your shoes before (yes, with bybit too) but in my case, I was liquidated for longing bitcoin when it was still battling to get passed $12K resistance back in August - September if I remember correctly. I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself. Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

Regrets always happen after we commit mistakes. I hope we can interchange it but we don't.

However, this also gives us the benefit in a way that we must have to do something for not to happen again in the future. It is also a way that could help us to change our strategy, to set our mindset, and particularly is to enhance our decision-making. It somewhat we need to face this just open up our minds that we are wrong and finally corrected.

nelson4lov

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Quote from: libert19 on April 13, 2021, 12:46:34 AM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

Damn, that's as bad as it looks. So sorry about the loss of the funds even though it was freely given. I understand your predicament because I've been in your shoes before (yes, with bybit too) but in my case, I was liquidated for longing bitcoin when it was still battling to get passed $12K resistance back in August - September if I remember correctly. I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself. Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

sana54210

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Quote from: Btcvilla on April 18, 2021, 01:34:34 PM

Future is bad choose because when liquid touch you loss your fund but with spot trading although price down still have chance to get profit and waiting until price up, just late to get profit with spot trading and future give faster or instant way how to get much profit with higher risk when you loss by getting liquidation.

Yes, leveraged trading got some pitfalls but money management will be the key there. When you are having excess funds and who are availing calculated leveraged and more importantly when you are good at predicting market directions then definitely leveraged trading will get you magic number of profits.

Anywhere being good in predicting market direction will be helpful and profitable but when you're doing that with leveraged trading then marvelous could happen. But at the same time, due to unpredictable market fluctuations our prediction may go wrong and those marvelous thing will turn exactly opposite to swallow all our capital. This is what happened to OP but fortunately they used only bonus money.

Btcvilla

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Future is bad choose because when liquid touch you loss your fund but with spot trading although price down still have chance to get profit and waiting until price up, just late to get profit with spot trading and future give faster or instant way how to get much profit with higher risk when you loss by getting liquidation.

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Quote from: libert19 on April 13, 2021, 12:46:34 AM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

RIP

I know how that must feel since I had also liquidated all my balance on leverage trading. At first I was happy since I had doubled my initial capital.
But then the market fell and all my balance got liquidated. But yeah, even though I lost the amount I got to learn a lot from it.
We can never predict how the market will behave and it's pretty much a gamble in itself.
So be happy that you didn't lose your actual money and just played with the bonus money.

Fredomago

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Quote from: iTradeChips on April 18, 2021, 11:24:40 AM

If there is one thing that a trader must accept as fact in the world of trading, and that is the fact that we don't know what the future would bring.

No one knows everything is only speculations, if that's possible and easy to be done,
there are more millionaires that those who lose to this business.

Quote

No one surely knows that the price of Bitcoin will go up 60,000 dollars.

No one and only those long term holders really enjoy that ride, most sell after breakig the last time high.

Quote

If you have needs at that time and you need to cashout then you will be cashing out your Bitcoins for fiat.

Surely that's the right thing to do, no other option but to cash it out due to your financial needs.

Quote

Only those who have other means to live must have save their satoshis and be able to have the discipline and the patience to wait for a long time before cashing out now.

Correct! only those who have other sources of financial needs can do that long hold, they are now gainers and really financially more capable to keep holding.

iTradeChips

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If there is one thing that a trader must accept as fact in the world of trading, and that is the fact that we don't know what the future would bring. No one surely knows that the price of Bitcoin will go up 60,000 dollars. If you have needs at that time and you need to cashout then you will be cashing out your Bitcoins for fiat. Only those who have other means to live must have save their satoshis and be able to have the discipline and the patience to wait for a long time before cashing out now.

Issa56

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Lots of people believe trading is kind of easy and is something if you start you will start making money is not like that there are lot's of challenges you have to face when it comes to trading you don't just think you will be making money there are sometimes you will definitely lose that's why you don't have to invest all your funds always trade what you can afford to lose and don't always invest your life savings in Cryptocurrency. The kind of experience you hard is kind of painful and I believe lot's of people that have been into cryptocurrency hard same experience before.

xianbits

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Everyone has experienced their own "sad story", not necessarily in futures trading only but in any other trading markets. Not a reason to give up though.
One thing I learned about using a leverage is that we should set our target profit and set also a stop loss for protection in situations like this, especially with the market situation today, April 18. Greed should be the last priority.
Cheer up man. You can do better tomorrow.

JohnBitCo

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Quote from: libert19 on April 13, 2021, 12:46:34 AM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

There is no need to repent on the decision. You win some trades and you lose some trades. Right now you have just lose your bonus money, i wonder what will happen if you would have lost your seed money. If you cannot bear these loses then futures trading is not for you. If you are not able to bear the loss, i think you should do only spot trading as the risk in spot trading is less.

cyriljundos

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Thats crypto life sometimes temptation in selling alt coin will kill you. Its a bit stress to those holders when the alt coin price going up we sometimes sell it in a small percentage profit and we cannot hold it for a long time . Lesson learned my friend.

RealMalatesta

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Quote from: kpierce77 on April 16, 2021, 05:16:38 AM

bitcoin fluctuation which I think is pretty crazy makes people sometimes really regret what they have done, even though it's from "free money". I've also had a bitter experience that maybe if I am a little patient and wait a little longer, then I will get thousands of dollars in profit, lol

You do see it like free money but I am seeing this is as failure in emotion control. Market fluctuations will trick you like it will act like giving you opportunity but most of the times it will ending up as a trap. OP is mentioning about bonus hence he might though to take extra uncalculated risk.

But I would say, even if you are investing your hard earned money and when you are seeing market fluctuations then you will get hyped and then you will take decisions like this. Market fluctuation is really cruel one. Regardless of we are trading for bonus money or our own money, we must always need to stick within our trading plans; any deviation will definitely lead to the results like this.

Kong Hey Pakboy

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The sad thing here is that you didn't trust that the price will go up but in the end, you don't have to worry about it or regret because what's done is done and I don't think that it will be good marinating in sadness and regret.

kpierce77

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Yeah man, honestly this happens a lot. bitcoin fluctuation which I think is pretty crazy makes people sometimes really regret what they have done, even though it's from "free money". I've also had a bitter experience that maybe if I am a little patient and wait a little longer, then I will get thousands of dollars in profit, lol

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Quote from: libert19 on April 13, 2021, 12:46:34 AM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

The story is, of course, sad, it is hard to keep emotions when the liquidation goes on such sums. But there is no take-off without a fall, this is a stock exchange, many stumbled on this, I think everything will be fine with you, where you lost there and will gain;)

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Quote from: travwill on April 15, 2021, 07:31:40 PM

Quote from: sayaya17 on April 14, 2021, 06:14:57 PM

It's not just you who have such sad stories, even me, and everyone here. We've all been through that
and I think mistakes are an experience to be better at trading and investing. It is not easy in crypto
trading but if you have experience, maybe we can avoid such mistakes not to reoccur.

A similar story has 90% of users on this forum. It's stories like these that teach us something. Personally, I believe that such stories exist only so that in the future you will not make mistakes that will cost you significantly more than the story you just wrote. In other words, such stories help us make significantly more money than those stories in which we are simply lucky.

This will be going to happen to let us know what could be the result of being not careful to our decision. It is likely having a bad result but in the other side we are also benefiting by its way of learning. Yet to find it hard to be perfect or at least and not to make mistakes again but as we grown and learn from those mistake we are able to adjust any possibilities that will going to happen in the future. At least we know what we gonna do next time.

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Quote from: libert19 on April 13, 2021, 12:46:34 AM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

I'm sorry about what happened to your sad experienced, what more I can say is learn from your mistakes dude.
I wish and hope this will not happen to you again. But I am pretty your the only person who encountered like this here in
cryptocurrency. But anyway, take this a big lesson to you mate, Have a good day.

Topic: A little sad story - page 2. (Read 670 times)