At three in the morning, I received a call from Xiaolin, and a hoarse voice came through the receiver: “I’m in margin call again, this time it’s the last 200,000......” Just three months ago, he was still dreaming at the dining table about achieving financial freedom through cryptocurrency trading, and now, his account balance is left with a cold three-digit number.
💸 Loss timeline: A typical retail investor tragedy
First month: Entering the battlefield (invested 100,000)
Followed the trend to buy popular animal coins, with a profit of 200% in the first week
Leverage chasing the 'king-level project', unrealized gains of 500,000 without withdrawal
Started to resign from my job, determined to become a professional trader
Second month: crazily increasing positions (additional 300,000)
Fully invested in 'top secret beneficial coins', faced a cliff-like crash
Started frequently using 10x leverage, watching the market day and night
Cash advance on credit card to average down, believing 'a rebound is imminent'
Third month: complete collapse (reinvesting 100,000)
Faced a series of liquidations, 3 total account blowouts in one day
Borrowing from various lending platforms in an attempt to recover losses
Final account zeroed, debts of 200,000
❌ Blood and tears lesson: every typical mistake he made
Blindly trusting 'teachers' for trades
Joined a paid community for trade copying, cumulatively paid 28,000 membership fees
Speculation treated as investment
Never studied white papers, decisions rely entirely on group chat messages
Risk control is zero
Always operating with full margin, never setting stop-loss lines
Emotional trading
Panic selling during a crash, FOMO buying high after a rebound
🆘 Real records from the day of the account blowout
14:00 Leveraged buying of a new coin, losing from the start
15:30 Averaging down costs, leverage increased to 5x
18:00 Encountered large holders dumping, insufficient margin
18:03 Received a liquidation SMS from the platform, account zeroed
💡 Senior trader's commentary (5 tips to avoid losses)
Never trade with essential living funds
Single loss strictly controlled within 5% of principal
Refuse any form of leveraged trading
Establish your own trading system instead of blindly following others
Regularly withdraw profits, preserving principal is most important
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