A little sad story - page 4. | Bitcointalksearch.org

FanEagle

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

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.

What all I can say is, you totally forgot about technical analysis and who reacted based on nothing.

Yes, if you would have followed technical analysis then probably you might have done two things:
1. You might have put trailing stop-loss to move along with markets.
2. Never gone for shorting.

Indeed, 50x leverage must be a dangerous one even you are trading with free money. So, the final results of you are not really surprising me honestly.

Moreover, I am just curious on how you got eligible to avail bonus from bybit? Could you please share more info on that?

awik p

full member

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Pepemo.vip

Quote from: electronicash on April 14, 2021, 02:18:53 AM

you're trading on leverage, it happens to season traders too. you figure the market goes up and you think it will go down all because it had reached heights that will possibly go down. you're not the only one who made mistakes.

one reason i don't like futures because of the leverage. unlike when you are just accumulating coins thru trading, if somehow i got burned, i can turn to another coin or invest my stablecoin to some other token.

indeed choosing stable coins in trading will be safer, if we have mastered it then trading in tokens can multiply profits. what we need to know is that not every trader will win all bets. what we need is how to respond to each condition

trigger1975

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NFTs on Sale: https://bit.ly/2POlV17

Quote from: libert19 on April 13, 2021, 11:28:34 PM

Holy fuck, that takes the cake (so far)

Let's come back to your OP. When you have closed the trade, was that according your original plan for that trade? If so: pat yourself on the back instead of thinking about how much you would have made if not following your plan. Executing and managing a trade according to the plan is the most important exercise a trade can do. If you have followed your plan, you did a good job no matter what happened afterwards.

If you did not follow the plan: ask yourself why. What was it? Fear the trade could turn against you? Fear you could lose the already gained profit? Also ask yourself, how can you avoid this in future? Probably trading smaller could help. Add your thoughts and action plan to your trade journal.

All traders have closed trades before they have originally planned to do. That's part of the evolvement in becoming a better trader.

So either way: the question is, can you accept the market is rallying further even though you have closed the trade according your plan or can you work on yourself to have the discipline to follow your plan? And: don't look back, the next trade where you can do better is right around the corner. Cool

Sinjokubhi

jr. member

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Sinjokubhi

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

Indeed regret comes at the end, but it is not something you have to regret. But it can be an experience for you, so you don't rush to make a decision in this matter. From this I can take a lesson, namely do not be in a hurry to close your short or long term by selling everything, it would be better if you leave half of it, especially if you get it for free. From that 50% you can continue, continue to monitor the volatility and don't forget to also set a stop loss, so that if the price goes down it will be able to reduce losses or not at all.

Therefore, it takes patience in doing it. There is nothing wrong with rushing so that the profits we already get are not lost, that is a good response, immediately selling it before the price drops. However, even if it does not match your expectations, you have benefited from it. How much better, you are grateful for what you have got, and from there you also get new experiences to be used as lessons in the next trading process. Sometimes many of us are not as fortunate as you, get a bonus like that, and reap the benefits of it. So don't regret what you get, it's the result of your own hard work, if you get a profit then be happy and if you get a loss then study it. Learning from mistakes is necessary.

electronicash

legendary

Activity: 3178

Merit: 1054

you're trading on leverage, it happens to season traders too. you figure the market goes up and you think it will go down all because it had reached heights that will possibly go down. you're not the only one who made mistakes.

one reason i don't like futures because of the leverage. unlike when you are just accumulating coins thru trading, if somehow i got burned, i can turn to another coin or invest my stablecoin to some other token.

leea-1334

hero member

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Temporary forum vacation

Hey,,, that is not really a sad story. It was free money.

Imagine getting 100++ BNB a few years ago and selling all of it for BTC to buy a shitcoin investment that all together today is only worth less than the fee it would take to transfer it to Binance.

100 BNB = 60000 today.

That is a true story,,, no need to guess who it happened to:)

Sled

hero member

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Bitcoin- in bullish time

Quote from: danherbias07 on April 14, 2021, 12:18:04 AM

Indeed a sad story.
But, it's not just you. A lot of us had the same error. I admit I had weak hands too.
I sell whenever I see a pump and never think twice. A lot of chances was given to just hold the coins that I accumulated and bought but I didn't.
Money is such a bitch. It shines too much making our decisions cloudy. Even though we already made a good plan, money breaks it midway when an opportunity to sell comes in.

It comes to be a mistake if we are selling at lose but as we are earning some profit, I'd never think this a wrong doing, only we need security and not to lose opportunity. However, it sometimes to happen that after selling our coins, the price just pump. Yeah, we probably blame ourselves because of being impatient but what if it drop, I think we should be thankful.

Because if we just only know what will happen next, doubted if someone will sell at cheap price but definitely they will able to wait until the price reaches to its peak.

danherbias07

legendary

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Leading Crypto Sports Betting & Casino Platform

Indeed a sad story.
But, it's not just you. A lot of us had the same error. I admit I had weak hands too.
I sell whenever I see a pump and never think twice. A lot of chances was given to just hold the coins that I accumulated and bought but I didn't.
Money is such a bitch. It shines too much making our decisions cloudy. Even though we already made a good plan, money breaks it midway when an opportunity to sell comes in.

Shasha80

sr. member

Activity: 1876

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Everyone has their own sad story, so you are not alone in experiencing sad things when trading crypto. All members of this forum must have
experienced bad things in trading, so it's not the end of everything if we experience losses when trading. It is also a lesson for you that it is
very dangerous to trade with leverage, I prefer spot trading which has much less risk. After all, you are also trading using the money from
the bonus, so losing that money doesn't hurt too much.

Scripture

full member

Activity: 1303

Merit: 128

You got lucky to received that Bonus but failed on trading, well that's how this market works and only those who'll take the risk will win. That's fine, at least you don't lose your own money that could be more painful to watch.

This is why I don't trade leveraging, this is too risky and I'm losing the money without even fighting for it, I'd rather used it for Spot trading. This is sad story yes, buy you can learn from this experience, just keep thinking that its a free money. Grin

libert19

hero member

Activity: 2520

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Quote from: trigger1975 on April 13, 2021, 05:41:48 PM

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

Sad story? Sure, I have one too Cool

When I sold 17.95 BTC (1.1 Mio USD today) for ~60 bucks at MtGox as I thought the price will never, ever go higher again.

Well …

Holy fuck, that takes the cake (so far)

maxreish

sr. member

Activity: 1330

Merit: 326

Thats a bad shot. I wonder if you are using technical analysis or not. Since you can see there, whether the market will still rise (to continue your long entry) or will have some corrections ( and do some short entry). Also, 50x leverage has a near liquidation price. Unfortunately, you havent set up stop loss so you may have a chance to re entry a long position with that left fund if you did some stop loss.

Well, better luck next time. We all have some sad stories to tell, but we can recover again with those mistakes that have been considered as a lesson now.

trigger1975

full member

Activity: 252

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NFTs on Sale: https://bit.ly/2POlV17

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

Sad story? Sure, I have one too Cool

When I sold 17.95 BTC (1.1 Mio USD today) for ~60 bucks at MtGox as I thought the price will never, ever go higher again.

Well …

tbterryboy

sr. member

Activity: 1988

Merit: 322

I do not see these as purely bad things @OP, sure it is not a good thing, who could say that you losing money could ever be a good thing, but I do not see it as purely bad thing neither, there is a silver lining in this. What is that? If you learned that doing these type of things are risky, and you should do a risk management on what you should be doing, that means that you now have more knowledge about the situation and next time you do something like this or you are about to, you will consider everything better and act accordingly.

Do not get scared and never do it, just focus better and make calculations better, something as simple as "it was rising for few days, so I thought it was time for it to go down" is not a good reason to short it, it is not even good enough to make a prediction, but if you learn chart reading better you could make decisions better.

sujonali1819

legendary

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Maybe you were not more careful due to it was bonus money. If it would be real one maybe you can feel the upcoming situation if you lose the bet or liquated. Take it as a lesion and follow this on future trade with real money.

To be honest we are not happy with little things every where in our life. Our mind always want something good, then something bigger than good,, bla bla bla....... And for that we are facing such pain booth in virtual o real life.

boyptc

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★Bitvest.io★ Play Plinko or Invest!

That's sad whenever someone gets liquidated.

But should you got profit already, you don't have to wait any longer or don't be greedy. Just take out your profit.

Gozie51

hero member

Activity: 2520

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Whenever you lose out profit that you thought you would have made, you also need to see it the other way. You could have lost totally too and that is the other way. Always be greatful if you have made little profit and that can prepare you for another chance to make better profit as you can choose if the market didn't go off you.

taufik123

legendary

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Rollbit.com | Crypto Futures

It is your decision, even though you experience losses due to liquidation, the capital you use is only a bonus from bybit.

this can be a lesson for you, that a good analysis before trading is needed. and most importantly you can adjust how much capital you use. Money management can help in situations like yours, so there will be some backups to turn things around.

AakZaki

legendary

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zknodes.org

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

~snip~

Got liquidated soon after.

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

Rip

There may be many victims besides you. Future is attractive but the risk is higher. You have to be really disciplined with your target. Determine your entry point, your stop loss point, and your profit target. One key is not to be greedy.

A few months ago when Altcoins and BTC on the Spot market were unattractive, futures became an alternative. But at this point I was out of it. I chose the spot market for now. Many people show the advantages of the leverage but they are hiding the loss. Maybe if you are still interested in futures after a big loss, maybe you are hooked.

bitgolden

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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.

Sorry man, it’s not like anyone can be hundred percent perfect when it comes to trading, most of us would have also had the same feelings and even taken the same action like you did when we see the price moving up for long.

So, it’s not like you’re the worst trader there is, everyone makes mistake at times, at least with this mistake that you have made now you might have learned one or two things that you shouldn’t do in case of next time, you shouldn’t be in a hurry to close any position, unless you feel that you’re already satisfied with what you have. So, stop worrying much about what has happened and start looking for ways that you’re going to get back what you have missed.

Topic: A little sad story - page 4. (Read 670 times)