A pro tip, avoid leverage. I got liquidated in last 4 years several times using just 2x leverage. Bought SOL at 30 and 15 Dollars a coin at 2x and got liquidated at 15 and 7.5.
Just hang in there. Could be a lot of pain before the trades turn profitable. Crypto is crazy, but your liquidation for eth is quite low, so hopefully you will survive this.
Crypto trading is not easy and yet it is not difficult. Familiarise yourself with various crypto projects, understand the underlying technology, study the tokenomics, research about the community adoption and then buy and hold in spot. DCA along the way, be patient and block the noise.
If you're new to crypto trading, know that you won't make a million overnight. Set your goals and work towards them. Choose the hard way before the market will force to learn the hard way.
What i have learnt in 8 years of my crypto experience
1) Never FOMO in. 2) Never Buy on first day of listing , i bought DODO and got rugged. 3) Technical analysis can go in vain. it's all about whales. we are shrimps. 4) control your emotions 5) don't lock your assets 6) distribute your portfolio with 70% coins in top 20 and rest 30% other alts memes etc .. 7) Focus on one influencer whom u like and relate and follow his signals. don't go for others. you will get confused 8) always keep usdt for dips. never spend all usdt in one dip. 9) find coins in which community distribution is strong and team has less than 10% of coins so that they cannot manipulate price. 10) lastly , don't put your lifetime savings in here. it can literally go to lows any day. it is backed by nothing . $BTC
After losing consistently for almost 2 years, I have finally made peace with the fact that it is important to block the noise while trading. If you're a leverage trader, it is important to manage your risks.
Low leverage, combined with a reasonable stop loss is your best friend in crypto. Avoid low caps. They can make you rich quick but they will surely liquidate you 99 times out of 100.
If you're a long-term spot trader. The best strategy is to DCA - Dollar Cost Averaging. What you do basically is you buy a small portion of crypto coins at different times. I have lost over 12000 USD until now. If I had invested 500 Dollars a month in let's say Matic, starting when Matic was at its peak in December 2021, I would have ended up with an average buy price of around 0.6-0.7 dollars per coin. A few months ago, I could have easily reduced my position by selling some at 1.5 dollars.
But I chose the shortcut, high leverage combined with low cap shit coins and ended up losing all my capital.
My advice is to block the noise, research for good projects and go low leverage or DCA long term.
Disclaimer: Please note that this is not an investment advice. Do your own research before investing. Remember trading cryptocurrency involves high risk and you can potentially lose all your capital.