I feel sad for this story, don't blame yourself for the failure because you are not the only one who experience the same things, a lot of people have already experienced this things, even those professional traders have experienced this way as well. What makes them different is that they never quit once they have lost a huge opportunity, instead of feeling bad, blaming themselves, they take it as a lesson and become better for the next trading
Topic: A little sad story (Read 686 times)
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 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
It's usually your fault that you have to fix your own mindset in order to hold on to the currency you have to analyze the market correctly others research can be wrong people can learn something new if they make mistakes. That's why you need to look at the charts before you stop investing in currencies. Then the problem can be solved.
Personally I always go long term and try to catch sudden dumps, whales selling and crashing the market due to lack of liquidity, squeezes. I don't predict what will happen overnight, don't even try, and I don't use leverage.
You sound like a professional trader because only people who are having good experience never going for leveraged trading and never trying for catching small sudden drops. Always looking for big profits in long run by investing into highly potential asset is the best way of trading and that must be the way of professionals do.Your actions are important. Strategy is important. Otherwise, you will lose what you earned sooner or later.
Timely action and sticking always within plan will always ensure protecting our capital and unrealized profits as well. Most traders are getting distracted when they are seeing spike or sudden drop in markets. This leads them to go away from their plans or enforcing them not to take action on right time. So I got some bonus from bybit.
snip~
Hello, I will explain my understanding of your psychology. Thousands of people have wrong thinking. It consists in the assumptions: "If ... then ..." Such a line of thought will not lead you to success. I could say: "If I bought Bitcoin at 1$, I would be a billionaire now". But that doesn't make any sense. Your actions are important. Strategy is important. snip~
Quote
Otherwise,you will lose what you earned sooner or later.
That only if you spend all of your money. Because if you care about the future, you'll be more wise in spending you money. 
So I got some bonus from bybit.
I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.
Got liquidated soon after.
Had I not closed the long, I would be in several double digit thousands of dollars profit today.
Rip
Hello, I will explain my understanding of your psychology. Thousands of people have wrong thinking. It consists in the assumptions: "If ... then ..." Such a line of thought will not lead you to success. I could say: "If I bought Bitcoin at 1$, I would be a billionaire now". But that doesn't make any sense. Your actions are important. Strategy is important. Otherwise, you will lose what you earned sooner or later. 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
many people experience situations like yours, usually panic sell. You can make this an experience and in the future you can do an analysis to find out when to release or when to hold so that you can predict whether it is in the long or short term. good luck in the future
People to go for panic sell because they are not confident about their own technical signals. When we are good at generating trading signals through technical analysis and we are very much confident about accuracy of our signal then we never need to get panic. Moreover, people who are buying signal from other are easily getting panic because they are not aware of anything about market fluctuations.So, understanding about the market fluctuations will help anyone to stay calm which is more important to avoid panic selling.
It's so hard to try to predict moves on leverage OP, I can understand why this happened to you. You're one of those 80% traders who can't make money on the market, but someone has to lose so that someone else can win. That's how this game is played.
Personally I always go long term and try to catch sudden dumps, whales selling and crashing the market due to lack of liquidity, squeezes. I don't predict what will happen overnight, don't even try, and I don't use leverage.
Personally I always go long term and try to catch sudden dumps, whales selling and crashing the market due to lack of liquidity, squeezes. I don't predict what will happen overnight, don't even try, and I don't use leverage.
many people experience situations like yours, usually panic sell. You can make this an experience and in the future you can do an analysis to find out when to release or when to hold so that you can predict whether it is in the long or short term. good luck in the future
People to go for panic sell because they are not confident about their own technical signals. When we are good at generating trading signals through technical analysis and we are very much confident about accuracy of our signal then we never need to get panic. Moreover, people who are buying signal from other are easily getting panic because they are not aware of anything about market fluctuations.So, understanding about the market fluctuations will help anyone to stay calm which is more important to avoid panic selling.
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
Well, at least you re not use any capital because you use "free" money. And then you already know your mistake so when you use your own capital, you can avoid that mistake again. I'm sorry maybe it is easy to say if not face the actual problem yet. But i think it is better than keep regret. 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
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
many people experience situations like yours, usually panic sell. You can make this an experience and in the future you can do an analysis to find out when to release or when to hold so that you can predict whether it is in the long or short term. good luck in the future 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
Quote
Had I not closed the long, I would be in several double digit thousands of dollars profit today.
History does not admit the word "if". If you collect all the opportunities that have ever been presented to me in the past and accept that all of them should have ended well, then I would have become a multimillionaire long ago.
But when you trade with leverage, especially large leverage, the odds are against you. Most likely, you will either be knocked out by stop loss, or you will lose your position. This is the truth of life.
Profits and losses are determined from how you can do emotional management and study every mistake you make.
Yes, we need to be updated along with every mistake, we are committing. When we are failing to learn some lesson out of our everyday trading then we may simply continue making mistake which will definitely end up in losing all capital.Experience also determines, the more experience, the more ready to face every problem and never give up in various conditions experienced.
You cannot become an experienced trader when you're failing to learn something from your own trading. You need to be proactive in continuous learning as it is an essential part of becoming professional trader. 
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.
That' right. Traders will not 100% sure about their analysis so their still the time that the traders make some mistakes but it's all in the process and must accept the fact that it's not always winning. Learning about the mistakes we made will benefit us in the long run. I don't regret spending all of my bitcoins when the price is still cheap; it helped me when the time I needed money. All I can do now is earn BTC and buy other crypto for the long-term. In trading I always choice on the safe side even it cause me few earnings but all I need is consistence and right timing. 
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
Oops... Too badI 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
We have to accept losses, this is the same reason some of my friends I tell about trading leaves. When they hear you're making profit they'll quickly enter the market then exit after experiencing loses and setbacks. To loss is just normal but when it becomes a habit it becomes abnormal. Every trader has his/her strategy in trading, just control your emotions cause it really breaks your heart when you keep losing but the joy from profit too heals.
Rip to the money we lost searching for more
Losing is jut part of being a trader or investor and anyone that says they do not have some regret about a trade or movement they made or did not made is lying, however the real question is if we learned anything from the experience? And there are many investors that learn from those mistakes and become profitable as they reduce the rate and size of their mistakes.
But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.
Those investors who continuously experience losses are those who never learn and cannot develop. They rely solely on emotion and without some increase in knowledge. The sad stories that the OP tells may be only a small part of the sad stories experienced by the novice investor or trader who never learns. Profits and losses are determined from how you can do emotional management and study every mistake you make. Experience also determines, the more experience, the more ready to face every problem and never give up in various conditions experienced.But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.
After all what good can be a strategy if just when you need to implement it you decide not to do so because you lost control of your emotions? So while learning new strategies is a way to improve your ability as a trader we must also look for ways to grow as a person as well since that could be even more critical when we need to take a difficult decision under pressure.
Losing is jut part of being a trader or investor and anyone that says they do not have some regret about a trade or movement they made or did not made is lying, however the real question is if we learned anything from the experience? And there are many investors that learn from those mistakes and become profitable as they reduce the rate and size of their mistakes.
But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.
Those investors who continuously experience losses are those who never learn and cannot develop. They rely solely on emotion and without some increase in knowledge. The sad stories that the OP tells may be only a small part of the sad stories experienced by the novice investor or trader who never learns. Profits and losses are determined from how you can do emotional management and study every mistake you make. Experience also determines, the more experience, the more ready to face every problem and never give up in various conditions experienced. But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.
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.
Losing is jut part of being a trader or investor and anyone that says they do not have some regret about a trade or movement they made or did not made is lying, however the real question is if we learned anything from the experience? And there are many investors that learn from those mistakes and become profitable as they reduce the rate and size of their mistakes.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.
But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.
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.
That 's what I always say, especially if you didn't lose money, but lost on profit, that is one of the cheapest lessons you could ever have. Think about it, you earn 10 instead of 50 and you have learned a lesson at the same time. I know that people prefer the money in their hands than a lesson and I get that, it makes sense, who would need a lesson when they could have thousands of dollars in profit.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.
However the reality is that we are doing much better in the long run when we get these type of lessons. Which is why I think it is quite obvious we should be focusing on something that would worth money in the end and not money right now. This might result with you earning 100+ later and 10 now instead of 50 now, and that is the lesson here. But I also do understand people who still get upset anyway, as long as they learn their lesson that means being upset about it still can be understandable.
Well, this has probably happened to every trader who has ever existed. We've all made that mistake of placing a trade against the market. However what made professional traders different from the one who lost so much that they eventually quit trading is that they learnt a lesson from losses like this.
I've come to realise that you'd still repeat that mistake if you didn't learn from it now. What's done is done. Learn from it and move on
I've come to realise that you'd still repeat that mistake if you didn't learn from it now. What's done is done. Learn from it and move on
That is kinda a little sad story and I bet we all do experience such thing for quite sometime. You better get good luck the next time around and hope that you can turn things be favorable to you. We do really need to be certain on things just to be able to know our targets so we will not be missing possible opportunities that is just right in front of us. Maybe it is just not your lucky day but I do hope you can still be able to get the next one. But still certain things have been learned from such experience which you can make use the next time around and will make you a better trader.
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 . 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
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.
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.
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.
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.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.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. 
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.
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.
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 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.
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.
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.
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 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.
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. 
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.
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.
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.
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.
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 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.
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.
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.
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.
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
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;) 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
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.
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.
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 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.
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.
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.
When we try to put short bitcoin going up but when we use long position bitcoin going down, but now is bitcoin trend positive with higher price and better to use with short position with your future trading, I think you use bigger lev and maximum until 50x and very risk but exactly your short position during bitcoin still have higher price this extremely risk.
Becareful mate, seem like you don't know much about trading strategy especially technical analyst (that I think it is the main factor to get profit espcially in future market) since I see in your statement you just confused about your entry between long and or your position is already short.
Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.
At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.
That is likely how a trader ends badly when we don't have control of our emotions. I believe that OP has the knowledge about trading but because it was just bonus money, he never cares that much but rather to overspend like no worries if he loses or not. I also experience that also, it wasn't our hard-earned money and we can't desperately feel the losses if ever it happens. But it was normal to feel disappointed and think why I do that? Why I'm too careless? It is all a regretting ends. Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.
At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.
Becareful mate, seem like you don't know much about trading strategy especially technical analyst (that I think it is the main factor to get profit espcially in future market) since I see in your statement you just confused about your entry between long and or your position is already short.
Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.
At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.
Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.
At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.
Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.
But, it seems that OP took risk intensively to give leverage trading a try hence I assume for the case of OP, that was not much painful unlike how many of us are feeling right now. I understand this community because when we have come across many such losses then definitely we can feel how much frustrating when losing money in trading.We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging
Only when you are gaining experience, you'll become slowly a professional trader. Only for professional traders predicting the market direction accurately will be possible. Until we are becoming up to the state of professionals in trading, probably we must need to face painful losses unless we do not plan up for lower capital and no leverage.It will not be his last experience in this trading life. As we don't know what will happen next, we are deemed to opt for choices that may not be favorable afterwards. But the longer that we are in trading, we will pick up some lessons here and there and we can apply it the next time we trade. However, don't expect that you will hit it perfectly. Because even expert traders can make mistakes. Just remember OP, that you are not alone in that kind of feeling.
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.
Sorry about that, you’re not the only one that it has happened, it has happened to a lot of us that are here, there are times that we have made mistakes like this and ended up missing big opportunities that would have earned us a lot of money, and after all that we learnt our lessons and started to do what’s right to avoid that so that it doesn’t repeat again.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 you’re going to do now is to learn from what happened to you and learn to avoid this same kind of problem repeating itself in the future, know what to do to avoid it. If the problem here is that you’re doing day trading while you’re not good at it, then what you’re going to do is to take time and learn it switch long term.
Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.
But, it seems that OP took risk intensively to give leverage trading a try hence I assume for the case of OP, that was not much painful unlike how many of us are feeling right now. I understand this community because when we have come across many such losses then definitely we can feel how much frustrating when losing money in trading.We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging
Only when you are gaining experience, you'll become slowly a professional trader. Only for professional traders predicting the market direction accurately will be possible. Until we are becoming up to the state of professionals in trading, probably we must need to face painful losses unless we do not plan up for lower capital and no leverage. 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.
Depending on how we change our mindset after experiencing those mistakes. Believe me or not, but to find that some mistakes will happen again and again especially when we are emotional traders. 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.
It might say that OP never minds it at first as it was just bonused money and it is not really a big loss on him. yep, it is in a different approach when we are using our hard work money to trade as we are totally careful.
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.
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.
Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.
We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging, this kind of sad story can improve you emotionally so the next time you trade, you can have more confidence.
We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging, this kind of sad story can improve you emotionally so the next time you trade, you can have more confidence.
That's fine, at least you don't lose your own money that could be more painful to watch.
It's still not fine though it will be painful if it was his own money but he ought to have make a fortune through the money if he went for long.This is how naive traders do turn as professional traders. When we are slowly learning something every day and keeping that in mind and making use of it time to time in the trading then we can easily become professional trader in very short period of time itself.
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 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
And how did you come to the conclusion of putting "Short" your position? did you have any intuition? I say this because intuitions are often successful, Jesse Livermore in his book "Memoirs of a Stockbroker" talks about intuitions that go against all odds and on several occasions it worked for him.
If now what you were expecting was a quick correction, were you assuming a bullish trap? Anyway, if it was "free money" it represented money, you have to give it the respective importance, the same in trading every day you learn, this is like a university career that prepares you to be more professional every time. The important thing is that you understood what your mistake was and that is a great teaching. Many enter trading gambling, and they are lucky and win, but they do not learn from their mistakes, there is no feedback, it is more difficult because they do not grow in knowledge, and the more they try to understand the market the more likely they will generate profits.
well that's how this market works and only those who'll take the risk will win.
That's not how the market works and the last time I checked it not those that can take the risk win but those that understand and study the market very well that win.That's fine, at least you don't lose your own money that could be more painful to watch.
It's still not fine though it will be painful if it was his own money but he ought to have make a fortune through the money if he went for long.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 am not believe with short bitcoin is good moment because after bitcoin correction last few weeks under $50,000 never I see bitcoin have lower price any more, better never try to put short trade for future with bitcoin, Best ideas if you keep hold with your long position and you know how much profit have you get if your position still long. 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
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 do not think that you are actually learning the right lesson out of this, it seems that you are mad because you shorted the market instead of keeping your long position open but that is not what caused your losses, the main reason for your losses was the huge leverage that you were using.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
We must remember that the volatility in this market is very high already and that should be more than enough to produce the profits that you need, if you need even more profits than that then most likely the expectations that you have out of the market are wrong, so learn the right lesson out of this and never use leverage again.
regret always comes in the end, the point is you already have more than enough advantages. your story is experienced by almost all traders, so you are not alone. enough to make learning to think more in the long term.
Yes that sad story. Don't regret it, That was past. Hope you present and upcoming days will be bright and lucky. I also face this same issue in binance future trade. So i understand your pain. I was lost my own money.
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 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
Yeah, it was really unfortunate indeed but no worries you may lose the money but you've gained experience and that is all matters. That money can be earned back or even more as long as you have experience and knowledge. That loss will serve as a lesson for you to not repeat the same mistake. You gotta move on besides, just like you have mentioned it just a bonus so it is not your total loss, imagine those people who actually lose their money that would have been more devastating. Anyway don't be swayed by it and just keep moving forward.
We know, Failure is the pillar of success.
Better luck next time. ❤
Better luck next time. ❤
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.Got liquidated soon after.
Had I not closed the long, I would be in several double digit thousands of dollars profit today.
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?
They have AMA's where participants get bonus split out, also had deposit bonuses, I don't remember exactly which bonus was that since this is thing of when BTC was $18k, I just decided to share it now.
I don't do trading at all, it was bonus so I just decided to fuck around.
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.Got liquidated soon after.
Had I not closed the long, I would be in several double digit thousands of dollars profit today.
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?
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.
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.
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 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.
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.
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:)
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:)
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.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.
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.
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.
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.
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.
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.
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.
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.
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 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
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)
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.
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.
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 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
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 …
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.
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.
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.
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.
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.
But should you got profit already, you don't have to wait any longer or don't be greedy. Just take out your profit.
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.
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.
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.
~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. Got liquidated soon after.
Had I not closed the long, I would be in several double digit thousands of dollars profit today.
Rip
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.
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.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.
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.
We suffer to learn about things when lessons are learned from mistakes, we grow our experience I believe you will not take such steps again in the future. Just move on better days ahead.
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Mistake created lesson comprehended. Leveraged trading is more like a gambling game in which the result is just a chance and not guaranteed but one thing is sure you'll never be professional if you don't make mistake, you just need how to learn from it and use it to profit your next trading.
Having said that, also understand the particular trading that's good for you and just trade leverage because of the profit involved.
Having said that, also understand the particular trading that's good for you and just trade leverage because of the profit involved.
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 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
This is how you gain experience in trading.You lose money,while you learn...
Using leverage is a great risk.It's more like gambling,rather than trading.You have to resist the inner desire to "leave the table" with your current profits and you have to wait for the right moment to play your cards.
Some traders get overconfident after a few successful trades.They think that they can read the market,until the market punishes them in the end.
I guess that's why crypto exchanges offer bonuses.They want to incentivize risky crypto trading.
you should not blame your self since ... this can happens very often! playing with bonus doesn't really help in these situations.
trading seems easy at a first glance but requires a lot of experience and calm for manage stressing situation.
btw see this situation as a "trading lesson" despite the missing profit. Next time you will setup a better scheme to achieve at least a small profit
I agree, no sense feeling sad for the money that you never had in the first place, I would move on and let all of it go and keep moving forward, I mean that is the only way in this life, we are coded in a way that we continue to pursue further as long as we live. @bitbollo is right, it might not be the right time to achieve a profitable trade, maybe there is something better at store. trading seems easy at a first glance but requires a lot of experience and calm for manage stressing situation.
btw see this situation as a "trading lesson" despite the missing profit. Next time you will setup a better scheme to achieve at least a small profit
Eh, as a trader, such experiences should rather be quite normal ngl, since trading is like a black hole for your money. It basically happens all the time, after all, you can't really expect to profit all the time. Might as well move on, though if you're not a regular trader, this could be a good time to think of whether you would continue or not, after all, it is rather difficult to enter the market when you're just going to lose money. Nice little experience, definitely not enough to let you judge it right next time though, so goodluck with that.
I am sure many of us have almost the same experience as you. We become greedy when we see the profit become bigger, and we do not close the trading instead waiting for more, just expecting that the price will still increase more. If we always remember that the price can't always increase more, we will close the trading and wait for the next opportunity because after the price reaches the high price, it will go down to short the price and make additional profit.
Use that experience as your lesson to get the same experience that will make us lose money. We can use that for our lesson to stay away or reduce the loss for the other member.
Use that experience as your lesson to get the same experience that will make us lose money. We can use that for our lesson to stay away or reduce the loss for the other member.
you should not blame your self since ... this can happens very often! playing with bonus doesn't really help in these situations.
trading seems easy at a first glance but requires a lot of experience and calm for manage stressing situation.
btw see this situation as a "trading lesson" despite the missing profit. Next time you will setup a better scheme to achieve at least a small profit
trading seems easy at a first glance but requires a lot of experience and calm for manage stressing situation.
btw see this situation as a "trading lesson" despite the missing profit. Next time you will setup a better scheme to achieve at least a small profit
Truly, sad story buddy better luck next time every gambler hard a similar experience in the past just learn your lessons and move on shit happens.
Hopefully next time your buying and selling will bring you more successes. You are not the first person and will not be the last that has gone through this situation.
Imagine all of those people that had thousands of Bitcoins years ago but traded them for other useless crypto when they were being mass created only to see their investments collapse, or those that see the current $60,000 price but sold at $30,000 a few months ago or sold at $5000 at precisely two years ago.
These things unfortunately do happen but at least we live to try another day. I hope you get your double digit profits soon
Imagine all of those people that had thousands of Bitcoins years ago but traded them for other useless crypto when they were being mass created only to see their investments collapse, or those that see the current $60,000 price but sold at $30,000 a few months ago or sold at $5000 at precisely two years ago.
These things unfortunately do happen but at least we live to try another day. I hope you get your double digit profits soon
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 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
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 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
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