A few days ago, a good friend contacted me and said he had a margin call, a total of 300 million. Next, I will copy his original words.
I had always heard you talking about trading spot, where profits are slow but you never lose. Later, I heard that contracts can make money quickly, so I tried trading them. At first, it was indeed quite enjoyable, investing a little money for high returns. So I started to get carried away, thinking I was the chosen one and would definitely make a fortune.
However, a few days ago, there was a sudden crash, and my position blew up. Almost 300 million, just like that it was gone, and now I don't know what to do!
This margin call made me reflect deeply and summarize the following painful lessons:
1. Don't be too confident: I used to think I was really good and could definitely make a lot of money. But the truth is, excessive confidence only makes you overlook risks, and in the end, you will stumble. So you must respect the market; it's not that you are great, it’s just that the market gave you an opportunity!
2. Always pay attention to the news: The market changes too quickly, and a moment's neglect can lead to big problems. This time, it was because I didn’t keep up with the news and didn’t know the various factors affecting the sharp decline, which led to my position being blown up. So, you must always pay attention to the news and market dynamics.
3. Don’t touch contracts: Contracts can make money quickly, but the risks are too high. This time, I suffered such huge losses because I used too high a leverage ratio. I kept thinking it wouldn’t drop suddenly by 30%, but unexpectedly it dropped by 50%! It’s terrifying!
If you want to learn more about cryptocurrency and get the latest information, click on my avatar to follow me. Binance copy trading top 5, contract trading skills shared for free, daily tips at $ETH $SOL $BNB #DOGE看涨情绪飙升 #特朗普加密政策承诺 #BTC创历史新高
