#ARC 1 minutes surged by 30%, blowing up short positions; Reminder to everyone, don’t play with small altcoin contracts, your positions rely entirely on the dealer's conscience, and be careful of the calls made in the square! --- Last night at 11 PM, before going to bed, I saw several posts in the square calling for shorting ARC; So I checked the trend, a typical lack of bullish momentum, indeed the risk-reward ratio for shorting was quite favorable;
I am very cautious with contracts, usually don’t trade small altcoin contracts, so I specifically looked at the trading volume of the ARC/USDT trading pair, 400 million U in 24 hours, which is decent; Originally, I wanted to open 1000 U with a low leverage short position of 5x; But I stayed alert, tried a small position, opened a 100 U short position with 10x leverage, made a floating profit of 40% within an hour, and seeing that the trend had formed, I went to sleep waiting for the roll-over in the morning; When I woke up in the morning and checked, the position was gone, puzzled if it had hit the take profit so quickly? Opened the chart and saw, good heavens, at 1 AM, 30 seconds with a 30% increase, blowing up all short positions; I couldn't help but sigh at the treacherous nature of the financial market; Then I thought, experiencing a spike and liquidation with 100 U is worth it;
So everyone, don’t be misled by this small loss, but it serves as a warning, small altcoins definitely have a big hand operating behind them, they hold a lot of spot, your position is bare to the dealer's eyes, the rise and fall are just a thought away, remember not to gamble on small altcoin contracts.
I generally don't like to be a father to others, unless they come to be my father. If you look back, Bitcoin was born against the backdrop of the 2008 financial crisis, at that time no one would have thought that a white paper, an open-source code, would become the best asset of the past 17 years, without exception. Times are changing, the concept of money is changing, the concept of assets is changing, policies are changing, and on a path that no one has walked before, we practitioners went from being accused of 'pyramid schemes' by others to calling ourselves 'noble Wall Street traders'. On this road, our community is becoming larger and larger, facing one fork after another, each choice is a process of selection, some people get closer, while others drift further apart.