Disappointment or blessing? | Bitcointalksearch.org

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

This disappointment is blessing for you because provided that your deposit works, you will lose another money, but as it didn't went through, you face due process to get back the money and after a while you are able to trade and get back you all your money, that's good.

I want to ask this mate; where can I learn trading? I want to learn it properly, can you recommend some platforms for me or any YouTube channel or any thread in this forum? I am bringing this up here because I know I will be directed to the right channel.

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

I will say it's a blessing but what I can depict from this your story is that you are lucky fan. Meme coins are gambling and what you get in gambling to win is luck and that's what you have just realized, I don't really think it's blessing but you just had the luck to be in the good side of gambling with meme coins. If it was a good coin, I believe you would have follow a good technical analysis before you short it but meme coins don't follow chat, just gamble it.

Next time, maybe you should try shorting a real coin and not meme or better still if you want to buy meme coins, didn't short term, do spot trade and find your ways out to make profit from the trend and you can minimize your profit and loss but if you feel you want to gamble, then the ball is your court and I hope the blessings continue to come your ways anytime you play around with meme coins but don't use large amounts of money. Grin

Cryptomultiplier

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.

I decided to deposit part of the money that I have gained from trading before but I deposited the USDT but I forgot to include the memo. I was not credited but I messaged the exchange customer care. The price of the coin was $9 at the time. If I that money was credited, I would have lost it because the coin later increased from $9 to $14.7 on the exchange.

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

While disappointments could be blessings, there's no saying that you gain as just pure luck. Am sure you were already aware of the 'ifs' that could occur and you only used the amount you were ready to let go off and that's what contributed to the confidence you had that made you go again after you were sure you lost.

My lesson from your story is simple and that's to not be afraid of taking a position or a stand on whatever investment I hope to gain from, irrespective of the coin or token.

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Having a stop loss is ideal for every trade I guess this is one of the basic but people forgot to use and let the market decide on their trade, I cant tell on it but what if the case is you make allowed to make a deposit that time and lose again your trade this could be an another disappointment because at the first case, your objective is to make a deposit, but at least you got save some of your money in that mistake can be called faith to lose your money that time. Did you get your USDT back? because we know some of the exchange once its a human error they didn't entertain that much.

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.

I decided to deposit part of the money that I have gained from trading before but I deposited the USDT but I forgot to include the memo. I was not credited but I messaged the exchange customer care. The price of the coin was $9 at the time. If I that money was credited, I would have lost it because the coin later increased from $9 to $14.7 on the exchange.

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

Trading with futures is pouring fuel on fire, you should never do that. Short position is very risky and not profitable. Coin can't lose more than 100% value but it can always gain more than 200, 300, 1000% of its value, that's why opening of short position is a very bad idea. Very bad risk/reward ratio. Also, if we keep in mind that you opened it on $6.5 and you got liquidated on $9, it means that 2x leverage, you doubled the risk of short position. I'm not here to judge you but please, keep these in mind.

By the way, are you sure that they will give you back your liquidated USDT? Yes, the price doubled in less than 30 minutes but I don't know... Which exchange do you use? Please let me know if they give you your liquidated money back.

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Obviously some disappointments can be blessing. My personal biggest example I can give is about gambling, I once lost a huge amount of money at gambling, my life didn't change too much but I am doing better right now and I believe the best thing that came out of it was I never lost that much ever again, and I am gambling more responsibly since those days.

I understand trading could be similar, sometimes you make a mistake and lose a lot of money but you learn what went wrong and you never do the same mistake again and this allows you to become much better later on as well. This should be very important and could give you a good return as well. I definitely believe the best way to move forward is to make money based on your knowledge and experience.

Alone055

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

Some disappointments can be blessing.

Undoubtedly. It happens sometimes when you try to do something but can't do it, you feel bad or sometimes even get angry for why it couldn't happen, but some time later, you realize that what happened was for the better because if that had happened, there would have been bad consequences of it.

You messed up the USDT transaction but that messing up saved the day for you and you got the opportunity to get your lost amount back with that money. Sometimes doing things the wrong way turns out to be the right thing to do, lol.

I personally don't get into futures trading much, but when I do, I try my best to use low leverage and trade coins or tokens that tend not to be highly volatile.

Helena Yu

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You're lucky that the exchange want to credit your coins, many exchanges doesn't want to help their customers.

I don't see anything wrong with what @OP did, he's taking big risk to gamble on shitcoins, so yeah regardless what's happen, it's either go big or go home.

However, if you're need to deposit more money in order to not get liquidated, it means there's something wrong with your risk management. You should calculate it, so in case something like this happen, you don't have to make new deposit.

armanda90

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.

I decided to deposit part of the money that I have gained from trading before but I deposited the USDT but I forgot to include the memo. I was not credited but I messaged the exchange customer care. The price of the coin was $9 at the time. If I that money was credited, I would have lost it because the coin later increased from $9 to $14.7 on the exchange.

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

I don't think your position will secure from liquidation due delay deposit of USDT fund at your account, during price your short position coins have been filled can't help your short position keep away from liquidation because easily for coins have movement significant reach the set up your price liquidation.
Its big problem when opening short or long position in future trading have small back up to avoid our liquidation price, usually the future trader have set up stop loss feature or use maximum 30% of their margin capital keep make large from liquidation price.

You get more lesson from OG Fans token future short position, for the next time always prepare recovery fund of your USDT before near future with liquidation price.

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.

I decided to deposit part of the money that I have gained from trading before but I deposited the USDT but I forgot to include the memo. I was not credited but I messaged the exchange customer care. The price of the coin was $9 at the time. If I that money was credited, I would have lost it because the coin later increased from $9 to $14.7 on the exchange.

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

That's good for you. I guess that fate was doing its own thing for you so that you won't have to dealt with further losses. I don't trade with futures and remains on the spot because with these kinds of movement, I cannot monitor it at times that I have to and that's the reason why I choose to stick for the meantime in the spot.

Quote from: Marvell1 on October 11, 2024, 07:49:24 AM

If you only use small capital and strictly follow take profit/stop loss orders, it doesn't matter which coin/token you use to trade futures.

I agree, the risk is lesser if you're going to trade with smaller amounts. But that's just the start of it and our minds are being set that the bigger amount that we use for trading in futures, the better profits that shall come. So, the high risk-high reward ratio will come to our thoughts and when the actuality comes, it's hard to stop that when emotions are already included.

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Quote from: Gladitorcomeback on October 11, 2024, 06:35:30 AM

I can't help but agree with users saying that you are more gambling than trading with what you did there. You can't play with shit coins or meme coins when it comes to futures trading, it's extremely dangerous because they move up and down very fast and won't give you enough time to even exit without losing everything.

I remembered an incident from your post where a user lost about a million dollars in a futures trade where he either shorted or longed a meme coin and went to sleep without putting a stop-loss, after waking up, he found out that his position got liquidated because the coin went to the opposite side of his prediction.

So, whenever you trade in futures, make sure you trade coins and tokens that don't move up and down crazily because that will make you lose money unless you become lucky like how it happened with your last trade here.

On the contrary, I don't see any serious problem, I think as long as we know what we are doing with our money we can trade or invest anywhere we want. Everything has its price, if we want to gain big profits we have to take big risks and that is understandable. If OP is aware of what he can lose and accepts that then it is normal for him to trade highly volatile tokens.

In your example it's a different story because that's a huge amount of money and if that's all he has, he'd be stupid to bet it all on memes. As for OP, I think he only uses a small amount of capital and is willing to accept losses.

If you only use small capital and strictly follow take profit/stop loss orders, it doesn't matter which coin/token you use to trade futures.

Gladitorcomeback

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I can't help but agree with users saying that you are more gambling than trading with what you did there. You can't play with shit coins or meme coins when it comes to futures trading, it's extremely dangerous because they move up and down very fast and won't give you enough time to even exit without losing everything.

I remembered an incident from your post where a user lost about a million dollars in a futures trade where he either shorted or longed a meme coin and went to sleep without putting a stop-loss, after waking up, he found out that his position got liquidated because the coin went to the opposite side of his prediction.

So, whenever you trade in futures, make sure you trade coins and tokens that don't move up and down crazily because that will make you lose money unless you become lucky like how it happened with your last trade here.

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Quote from: Oshosondy on October 09, 2024, 04:41:07 AM

Quote from: knowngunman on October 09, 2024, 03:44:51 AM

Glad he succeeded but that's never the right decision to take at that moment. Hasty to deposit after liquidation to trade on same coin is actually a revenge trade just like someone pointed out earlier and we already know what revenge trade normally lead to. It's luck after all but some time the power to decide is in our hands.

You are not completely correct about this. It is not revenge trade. Revenge trade is when you trade because you lose and not know where the market might go but you decide to enter the market again. But when you know that a market was overbought and later become more overbought and your analyses shows that the market will fall, that is not a revenge trading at all. Although I can say I gamble with the coin but we still make analyses while trading with shit coins before we gamble with it.

You have a point on your explanation on what revenge trade actually is and you are right on your claim. I have come across traders that does like you and are really making it big in trading. When you’re so sure of your analysis, they might be some interference in the market that has made it hit your stop loss or liquidated you. If your analysis is still okay and nothing has invalidated it, you can still enter the trade but you should always reduce the risk at the time of entering because you can’t tell if that will be obeyed this time even though your analysis is still valid. Trading is risky and you’ve to take some risks to make some bucks. You can’t be so lucky every time but if your analysis are correct, don’t hesitate to take the trade using proper risk management.

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It's a disappointment that turns to a blessing because of how lucky you are. After being disappointed at the first position you entered and lost some funds, at least it was good that you recovered your funds back, but if you had done another analysis when you saw the price was moving against you speedingly, you would have changed your position to "Long" & could have still recover the initial lose you must have incurred in that first position.

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.

I decided to deposit part of the money that I have gained from trading before but I deposited the USDT but I forgot to include the memo. I was not credited but I messaged the exchange customer care. The price of the coin was $9 at the time. If I that money was credited, I would have lost it because the coin later increased from $9 to $14.7 on the exchange.

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

You are lucky to have to recovered your money but indeed you took so much risk as I don't know what you saw that made you to make the fast trading decision that you did. For instance, you continue to hold on to a losing position and even went ahead to continue making further deposits to allow the trade run in that direction. To me that is a bad trading emotions at play and it was only luck that helped you in the whole encounter. However, it seems you managed your risk properly, which is very important in trading, the reason you might have continued to add funds and maintaining the same directional bias.

SmartGold01

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Quote from: Oshosondy on October 08, 2024, 05:43:08 PM

Quote from: SmartGold01 on October 08, 2024, 10:02:22 AM

Lucky you mate but of all the discussion over here you still choose to go trade with altcoin like what if you had lose the funds what would you do?

I gamble with altcoins sometimes.

Quote from: SmartGold01 on October 08, 2024, 10:02:22 AM

Most times it's good to stay with coin with higher liquidity to enable trade peace of mind and coin that team has already planned to pumped and dumped it on newbie traders who are not good at trading altcoins.

You are right but it is also still good to know that trading generally is very risky. If you are trading altcoins, you can use little amount of money for it. If I use up to $250 to trade bitcoin excluding the leverage, I can use $30 to trade altcoins. I do not mention the real amount but I use percentage to estimate the amount.

Yes it is good to always used small about to gamble with altcoin as you already illustrated. Well, as I know trading itself is risky to anyone who is trying to get involved should be ready to the risk that is associated with the trading. You know most people love trading but they aren't ready to get involved with the risk associated with it and also have this in mind that trading is a profits and losing of a thing, so anyone trading would definitely incur any of it, either profits or lose but the ability and probability for someone not to lose hugely is to filter out the amount of coin or shitcoin they trades on and if only they can do that then lose is reduced but can't be entirely eliminated.

Ahli38

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Quote from: Oshosondy on October 07, 2024, 07:00:04 PM

I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.

I decided to deposit part of the money that I have gained from trading before but I deposited the USDT but I forgot to include the memo. I was not credited but I messaged the exchange customer care. The price of the coin was $9 at the time. If I that money was credited, I would have lost it because the coin later increased from $9 to $14.7 on the exchange.

After I have filled the necessary form so that I can be able to get my USDT back, I sent another USDT which I used to open short position at $13 and the coin fall to $10.6 and I was able to recover back my coin. Unbelievable.

Some disappointments can be blessing.

Sometimes I am also in that position. But from your story it seems like you were saved by an accident you made when making a deposit back to the exchange. And yes, it is a blessing that seems to allow you to save your coins from much bigger losses. And makes you have the right position to short. I had some similar experiences with this. It's just that I was in a different position, namely when I wanted to go Long at that time. And then the coin I was talking about dropped even deeper. And fortunately I haven't installed an entry because of a problem with my account or maybe an internet network problem in my area. but when I managed to log back into my account, when the internet network was normal, it turned out that the coin price had fallen further due to the BTC correction which was also deep. So in the end I was able to take a Long position at a much better price. And in an instant I was able to gain an advantage due to the fast bounce. Moments like this actually sometimes make us grateful even though at first we feel annoyed.

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Quote from: stomachgrowls on October 08, 2024, 09:44:26 AM

Quote from: slaman29 on October 08, 2024, 06:48:26 AM

GL, but if you gamble, remember, don't expect the money back Wink

On the moment that you would really be trying to chase up something whether short or long position just because of those sudden spikes and you have forgotten on applying some technical analysis, then i could really definitely say that this would really be that some sort of a gamble. <>

'Forgotten on applying some TA?' that sounds like a major problem. You can't forget to make TA, you either do it or you don't

Same thing with limits and stops. You can't really forget those. If they are simply part of the process, you do not make any trades without doing TA and limits. No position should be open without those.

The whole point of those things is to make sure you CAN forget about positions and allow them to close as desired

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Quote from: knowngunman on October 09, 2024, 03:44:51 AM

Glad he succeeded but that's never the right decision to take at that moment. Hasty to deposit after liquidation to trade on same coin is actually a revenge trade just like someone pointed out earlier and we already know what revenge trade normally lead to. It's luck after all but some time the power to decide is in our hands.

You are not completely correct about this. It is not revenge trade. Revenge trade is when you trade because you lose and not know where the market might go but you decide to enter the market again. But when you know that a market was overbought and later become more overbought and your analyses shows that the market will fall, that is not a revenge trading at all. Although I can say I gamble with the coin but we still make analyses while trading with shit coins before we gamble with it.

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Quote from: shinratensei_ on October 08, 2024, 11:28:42 PM

I won't short on a shit coin with suspicious price action ever, but at least from this story you recovered your loss.

He's gambling with trading for sure. Engaging with shitcoin that moves with high volatility within a short time of thirty minutes or less requires extra balls. If I managed to escape the first time, that'll be the end of me interacting with such coin. I don't think it worth the risk.

Quote

good thing that you reopened short position at higher peak and make it break even, other people probably depressed at their first liquidation.

Glad he succeeded but that's never the right decision to take at that moment. Hasty to deposit after liquidation to trade on same coin is actually a revenge trade just like someone pointed out earlier and we already know what revenge trade normally lead to. It's luck after all but some time the power to decide is in our hands.

Topic: Disappointment or blessing? (Read 376 times)