THIS IS A WARNING FOR THE TRADERS 🚨🚨🚨
I!!! I am confident to long BTC at $88k-$89k, confident that "moon is sure" because I think the dip is only temporary... Not setting SL at all.
So what? The price is dropping uncontrollably to $83k
So I have been DCAing continuously but the more I DCA, the bigger the volume and the quieter it gets.
I have borrowed everywhere to DCA to try to hold the position but no.
What is meant to happen will happen.
testing $81k due to the government shutdown + Fed hawkish.
Margin is deep red, heavy losses, just a few hundred more to liquidate...
Gmail notifications keep coming as I take the last bit of money I just sold to hold on.
But I underestimated the market's panic.
Also because of the thought, "gold drops so sharply that money must flow into BTC; this is just a shakeout, hold on and you will win."
On January 31, BTC rebounded a little to the 84k region, and I felt a bit more relaxed. So I went to bed early because the two nights before I had hardly slept (those two nights I didn’t do anything but sit and look at the chart, hoping it would increase again).
On February 1, I turned on the computer with a hope that BTC would rise sharply, but what hit me squarely in the face was a Gmail notification of liquidation from Binance.
Honestly, my heart felt like it stopped beating. I was dazed, my limbs were weak.
I've never felt so exhausted. Sitting down on the bed to think for a while, I felt calmer.
This isn't the first time I've burned a big order like that, but it hurts more than the first time. I feel so small, weak, and foolish. At that moment, my child knocked on the door and called, "Dad, get up, let's take me to school." It suddenly hit me that I still have my family, friends, and my job. I have to try to get up and move forward! If not, who will take care of the family? What will happen to my child, my parents, and even me? I wiped away my tears (I feel a bit embarrassed saying this, but at that moment, I shed tears. I rarely cry, but I did; I cried because I've failed too many times, cried because I haven't provided my family with a full life, and now I have to bear an additional debt). I got up, fixed my clothes, and went to work while taking my child to school. When I got to the company, I continued to fall into deep thought and neglected my work. My boss noticed and called me into the room to talk and check on me. I shared everything I was thinking and going through.
The uncle said:
Sit down here, kid. I understand. In investing – and really in any profession – losing is not failure. Failure is when you don’t learn anything from your losses.
I don’t blame you for the losses. I blame you for not having discipline. Entering a trade without a stop-loss? High leverage? All-in on a trade because "I feel it's definitely going to the moon"? That's not trading; that's gambling. You have to protect your capital as if it's your life.
Right now, you’re feeling sad, bored, and thinking negatively – I understand. I’ve been in a situation like yours. In 2021, I wiped out a 7-figure account, went home, and lay down for a week without wanting to see anyone. But I was able to get back up because I understood one thing: Losing this battle doesn’t mean losing the entire war. Capital lost can be earned back. But if you let your emotions swallow you, if one loss makes you give up, then you really lose everything. From tomorrow, I want to see you do two things:
Write a detailed report. Record every step: where the entry was, what the reason was, what leverage was used, why there was no stop-loss, and what emotions were like at that time. Submit it to me. This is not a punishment; this is to ensure you never repeat that mistake again.
Get back to the iron rules. From now on, every order must have a clear plan: maximum risk of 1-2% of capital, mandatory stop-loss, never average down when losing, and do not trade when feeling emotional. If you can't do it, then take a break; don’t let this profession kill you.
I believe in you. You are intelligent, quick-witted, just lacking discipline. If it hurts this time, you will be much more careful next time. Many of the best traders I have ever met have experienced at least one account wipe. You will be one of them if you choose to get up. Now wipe your face, go and sleep for a bit. Tomorrow, when the sun rises, it will be a new day. The company still needs you, and I’m still here if you need to talk.
Hang in there, son.
I am now thinking more clearly, so I am writing down my experiences. If there are any mistakes, I hope everyone will overlook them. I have no other intention but to hope that those who are caught in a psychological whirlpool can read this post to regain themselves and overcome all storms to open up a better future. No success comes easy; just don’t give up. Let’s work hard together!!!
This is a valuable warning for anyone who refuses to set a stop-loss, always trying to hold onto losses thinking "it will bounce back eventually." The result? Who knows where it will go – it might even go straight to 0! I’m currently experiencing that exact feeling... Don’t let it be like me, guys! If it has happened, we still have a chance to redo things; the future is still long, and there are many opportunities left. More importantly, family and friends are waiting for you to succeed! Don’t be down anymore, my friend.
Below is a video I made to remind myself. And also to remind myself to be stronger. Thank you to everyone who read my post. This post will not include a video, guys; I will post this video after this post. Thank you very much, everyone.
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