At three in the morning, I stared at the candlestick chart, the screen was bright, my eyes were dark, and my palms were sweating.
This is the 8th consecutive night I've been staring at the market.
The day before yesterday, I leveraged 20 times to all-in on ETH, with a cost of 3720. At that time, the trend was ridiculously strong, and all the major KOLs were shouting that it would start from four thousand five. I thought the opportunity had come, and my faith combined with FOMO made me jump in heavily.
What happened? ETH started to decline directly from 3750, and during each rebound, I treated it as an opportunity to add positions. The more it fell, the more I added, until I ran out of bullets and my margin was insufficient.
At two o'clock this morning, ETH had a flash crash, a single spike directly pierced 3600, and a string of red words appeared in the background: 'Your account has been forcibly liquidated.'
I stared at the account balance: 0.06U, at that moment my head buzzed, my eyes felt warm, and I froze.
This is not my first liquidation, but it is the most painful one.
Because this was my slowly grown principal over the past six months, from 2000U all the way to nearly 40,000U, I timed every wave of the market just right, and my followers also made a lot of money. Everyone called me 'Brother Bao,' and I began to gain confidence, even feeling a bit inflated.
But the market will not be lenient to anyone.
This time I didn't set a stop loss, didn't control my position, and completely gambled on direction with faith.
After the liquidation, I lay in bed, tossing and turning unable to sleep.
I recalled a friend who advised me to take profits at the peak, and a beginner fan in the background left a message: 'Brother Bao, you are already all-in, I am all-in too, let's fly together!'
At that moment, I suddenly felt that trading is not only about being responsible to myself but also about being responsible to those who trust me.
Liquidation is not the end, but a wake-up call.
Losing money is not scary; what is scary is repeatedly getting liquidated in the same way while refusing to acknowledge one's own problems.
I also want to remind every brother and sister still fighting in the market:
Leverage is not a monster, but it must be controlled well.
Do not trade based on emotions, and do not use faith to resist the trend.
Sometimes, being in cash is the strongest trading strategy.
This time I got liquidated, but I will not give up.
I will review my trades, I will start over, carrying lessons and clarity, and stand back at the table.
The market is always there, but the principal is not.
Let's encourage each other.
