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$ALPACA This is a sad story, an experience of going from earning 30,000 to losing 14,000.
This cryptocurrency seemed abnormal yesterday afternoon; I participated in a short position when it first dropped. Unfortunately, I got stopped out twice when adding to my position, but since I kept watching the market without blinking, I couldn’t let the market makers and traders take advantage of me. Even though I didn't make any money, I also didn't let them harvest a single cent from me.
However, last night, this cryptocurrency saw another wave of decline, and my prediction was still quite accurate. At exactly 12:00, when it dropped, I opened a short position at that moment. During the subsequent decline, I continuously increased my margin from 10,000 to 35,000. During this time, I basically never left the monitor for more than 3 minutes, fearing it would suddenly reverse. I often found that the stop-loss and breakeven orders I set on Binance hardly ever triggered. For this reason, I had to keep staring at the monitor, relying mostly on manual market order liquidation. Even if I had to spend a bit more, I could accept it.
In the evening, while executing this short position, things went relatively smoothly. I kept an eye on the screen, ready to close the position manually if anything felt off. But everyone needs to sleep. I had been monitoring all day, and I was very tired, wanting to sleep by 1 AM. I ultimately held on until 4:30 AM, feeling it should be stable by then. I also entrusted another trader to help me watch the market. I told him to call me if the price returned close to my cost price after he woke up. He woke up at 7:30 AM and called me immediately, but the breakeven setup didn’t trigger. I closed the position manually, resulting in a loss of over 7,000; adding the funding fee, it totaled over 11,000, plus a stop-loss, bringing the total to over 14,000.
This is the crypto world; making money won’t make you earn more, and losing money won’t let you leave easily. Brothers, everyone be cautious, the market makers and exchanges are very tricky; if you can avoid trading, quickly exit the market.
This cryptocurrency seemed abnormal yesterday afternoon; I participated in a short position when it first dropped. Unfortunately, I got stopped out twice when adding to my position, but since I kept watching the market without blinking, I couldn’t let the market makers and traders take advantage of me. Even though I didn't make any money, I also didn't let them harvest a single cent from me.
However, last night, this cryptocurrency saw another wave of decline, and my prediction was still quite accurate. At exactly 12:00, when it dropped, I opened a short position at that moment. During the subsequent decline, I continuously increased my margin from 10,000 to 35,000. During this time, I basically never left the monitor for more than 3 minutes, fearing it would suddenly reverse. I often found that the stop-loss and breakeven orders I set on Binance hardly ever triggered. For this reason, I had to keep staring at the monitor, relying mostly on manual market order liquidation. Even if I had to spend a bit more, I could accept it.
In the evening, while executing this short position, things went relatively smoothly. I kept an eye on the screen, ready to close the position manually if anything felt off. But everyone needs to sleep. I had been monitoring all day, and I was very tired, wanting to sleep by 1 AM. I ultimately held on until 4:30 AM, feeling it should be stable by then. I also entrusted another trader to help me watch the market. I told him to call me if the price returned close to my cost price after he woke up. He woke up at 7:30 AM and called me immediately, but the breakeven setup didn’t trigger. I closed the position manually, resulting in a loss of over 7,000; adding the funding fee, it totaled over 11,000, plus a stop-loss, bringing the total to over 14,000.
This is the crypto world; making money won’t make you earn more, and losing money won’t let you leave easily. Brothers, everyone be cautious, the market makers and exchanges are very tricky; if you can avoid trading, quickly exit the market.
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