A significant loss occurred today on a $FOLKS long position. The attempt to capitalize on a perceived bounce proved unsuccessful.

The trade was entered at $11.49 with 20x leverage. This strategy, unfortunately, led to a substantial drawdown.

$FOLKS experienced a drastic price collapse. It fell from near $48 to $7.19 and continues to decline.

Even additional margin could not prevent the liquidation. The position experienced a -1029.39% loss.

This experience serves as a stark reminder of the importance of stop-losses and avoiding excessive leverage. It was a costly lesson learned in the volatile crypto market.

Trade with caution and manage risk diligently. The cryptocurrency trading environment can be unforgiving.

#FOLKS #FOLKSUSDT #Crypto #Trading #Liquidation