As a sophomore student, I have been trading cryptocurrencies for two years.
I started to get involved in cryptocurrency after the college entrance examination. Now two years have passed, and the two accounts have lost a total of 3,000u+, which is more than 20,000 yuan. For college students, I have lost all the money I earned from part-time jobs and living expenses for more than two years. Of course, I don’t have any extra money to continue throwing in the market.
When I first started, I just wanted to earn some living expenses, so I invested 1-2k, which is more than 100u each time, with 20x leverage and 50u margin. I couldn't withstand any fluctuations at all. Every time I was trapped, I thought about waiting for myself to slowly get out of the trap. As a result, I was trapped deeper and deeper, to the point where I couldn't bear to stop the loss. I thought that if I stopped, the next margin would be even less, and the risk of opening a position would be greater. If I didn't stop, the result was obvious, which was endless liquidation.
Now looking back at my journey in trading coins, it’s just too exaggerated. Each time I invested 100 or 200u, it surprisingly accumulated to a loss of 3000u.
Now that I think about it, relying on the crypto market to improve my life is really too damn hard. I wish I had never gotten involved. Not only losing money, but what hurts the most is that I've lost a lot of time + the despair of chain smoking when I was about to blow up my account. These painful moments have accompanied me for 2 years.
Profit is just a process; blowing up your account is the result. I can turn 100u into 500u, but then what? As soon as I open the wrong trend, when the losses start, my mindset undergoes a huge change. Mindset! Mindset! This thing is really too damn important. If you don't change, you will never survive in this market.
Especially with the left-side trading I do, the risks are too high. Although the returns can be very high in a favorable trend, a lack of sufficient margin means that a pullback can lead to a disaster.
I advise everyone to have a deep respect for the market. If you're wrong, you must stop losses in time. I don't recommend entering the market with small funds; when margin is more, you can hold on a bit until it breaks even, but small funds cannot withstand any risks at all. A leverage of over 10x is extremely risky.
When you are losing, you must never lose your head. Continuously putting in money without controlling your mindset will only lead to greater losses.
Only by establishing a solid trading system can one survive long in this market; you must never be in a hurry!! Even when making profits, you cannot increase your position size and leverage to open trades confidently. Maintaining a stable trading system will prevent you from losing your head when you do lose. If you miss an opportunity, you can control yourself to wait for the next chance to enter. Being eager to enter and stop losses is highly likely to lead to failure. The market has endless opportunities, but once the capital is gone, it’s gone.
Now I can only comfort myself that this is tuition paid, my heart is very unwilling! I can't help it! I can only go back to working like a horse, and it may take several months before I have a chance to enter again, at least around 500u. I constantly remind myself to pay attention to risks; risk control is always more important than profits. Surviving is always more important than making more money. I was too damn anxious, damn it, believe in yourself, take it slow, let’s encourage each other! What belongs to me, I must get back, wcnmd🐶庄, I only became honest after losing everything, I hope to learn from this lesson. I'm numb, see you again if fate allows 👋#亏麻了 $BTC #炒币日记
