The Story of Being Liquidated Due to FOMO and the Lesson I'll Never Forget
Despite being an experienced trader, I was recently liquidated on a long position of $fdusd due to a fundamental mistake: FOMO and not setting a stop loss while trading on Binance Futures. Here’s the story:
I intended to withdraw my $USDC from Binance Earn and transfer it to Binance Futures to recover lost money, but while browsing X, I read a post from the Binance Futures account itself:
"Pro Tip: Never underestimate the power of setting SL/TP orders! Protect your profits and minimize risk."
In the end, I want to remind you all to always set SL/TP and conduct your own research at all times. Don't hold overly high expectations for news, and don't go with the flow.
