Today, I finally made a decisive choice to leave, without losing everything; I still had 62 US dollars left. I sold all, not leaving a cent, because this was my last bit of dignity! After playing for five years intermittently, I lost fifty to sixty thousand, of which thirty to forty thousand was borrowed.
Yes, at this moment, I admit that I indeed lost! But I do not regret it, even though every night my mind was in agony, often waking up at four or five o'clock, then checking my positions on my phone, and feeling heart-wrenched and unwilling after each margin call, as well as the helplessness every time I thought about my debts. If I hadn’t borrowed money, maybe I would have gotten out long ago! Sometimes after a margin call, I repeatedly told myself that I should leave, but every time the remaining 50 to 60 US dollars made me unwilling to fail like this! It wasn’t until today that I realized, admitting that I cannot conquer contracts is, in fact, a kind of alternative liberation!
Let me briefly tell my cryptocurrency trading story. In 2020, when I was a freshman, I was introduced to Bitcoin by a classmate. I found it quite interesting, so I took over a thousand to Huobi to buy Bitcoin, and later I sold it after it increased a bit. Afterwards, I began to behave like a victim, selling at every small rise and stubbornly holding on during declines. Eventually, I was left with only a few hundred dollars, during which I also added one or two thousand more. To break even, I chose to buy some trash coins with three times leverage. I clearly remember one evening study session, when I had to hand in my phone, and after class, when I got my phone back, I saw that the worthless coin had gone to zero! After that, Huobi cleared Chinese accounts, and I left the cryptocurrency world.
In 2021, I started getting into funds, right during the small bull market for new energy in the big A. I became a victim again, buying one or two new energy and semiconductor funds. Unexpectedly, after buying, I never made any money again. During the summer vacation, I realized that buying funds was not as good as buying stocks, so I opened an account again and jumped into the stock market with five to six thousand yuan. To my surprise, since I bought in, A-shares have never gone up again. Based on my confidence in the country, I chose to tough it out. I believe that the big A will definitely rise!
Also during this period, I saw my classmates trading contracts, so I tried it out and found that this thing is really a good way to bet small to win big. Originally, my focus was mainly on the stock market, but as I started trading contracts, losing money became much faster than in the stock market, and I might have to choose to add positions every day. So I cleared my stocks and added positions in contracts, and the final outcome is well known—not only did I lose all the hard-earned nearly ten thousand, but I also owed my classmates two to three thousand. This was in 2023, which happened to be during my junior year. At that time, I was still deciding whether to take the graduate entrance exam or to work. Ultimately, I chose to take the exam, but due to my trading contracts, I wasted a lot of time, and later during the summer vacation, because I owed my classmates money, I chose to work while studying! The result was also very clear; I didn’t pass and even did very poorly!
However, after finishing my graduate entrance exam, I saved up some money, about four to five thousand. Looking at the A-shares that were just under three thousand points, I chose to invest in the big A again. By the end of 2023, I saw stocks plummeting, and I was stunned. At that moment, I had some mischievous thoughts and shifted my focus to contracts. This time, I chose to cut my losses again and began a new chapter in the cryptocurrency world! This time, I traded contracts for half a year and lost everything again, even owing my classmate more than five thousand. During this time, I had some glorious moments, but mostly it was sleepless nights and days of muddling through! I really didn’t expect that not only did I not make money, but my health also nearly deteriorated; it was truly not worth the loss!
I originally decided not to touch this thing again, but the guilt of owing money and the feeling that paying it back was a distant hope reignited my belief in making a comeback! Actually, I am an extreme bear, but after the Federal Reserve cut interest rates, I still chose to short, adding positions every day. In such a massive rally, I didn’t hedge but kept shorting instead, and in the end, I lost again, losing another twenty to thirty thousand. Moreover, I had neither the energy nor the money to stay in this market again, so before the Trump election, I left this market once more. In August and September, I reignited my hope in the big A, but I didn’t have money to buy. I kept telling myself that once I made a few tens of thousands from contracts, I would return to the big A! But A-shares took off, and I didn’t make any money. During this period, I talked about the stock market with a few friends, and I believed that the takeoff of A-shares was only a matter of time! If I have money in the future, I will still choose A-shares and believe in my country!
At the end of 2024, the final chapter of the contract story. This time, I set sail again and started trading contracts once more. I still focused on shorting, during which I had some highlights, making a thousand US dollars in a single day. But the final outcome was a total loss! I believe some people will say that shorting recently has been quite enjoyable, right? If I hadn’t made the wrong choices, it wouldn’t have ended up this badly! Several crazy rebounds after declines completely crushed me. Today, I had a great profit, but I saw a pullback, I made another trade, and unexpectedly hit my stop loss immediately. Thus, this terrible chapter of my life came to an end, a time that caused me countless torments ended!
As a loser, I still have a few pieces of advice. Whether trading stocks or cryptocurrencies, do not use leverage; just buy the spot normally. In the cryptocurrency world, do not play with those worthless coins; Bitcoin is still okay to play with but only for swing trading. Buy high and sell low; when it reaches a certain height, do not be greedy; having a profit is always better than a loss! I will probably remember this period of my life forever; perhaps one must experience bitterness first before experiencing sweetness! I do not harbor resentment during this time; maybe I would curse a bit when margin called! I also thank this terrible journey because this time has brought me a lot; at least setbacks did not defeat me! Finally, I hope everyone can remain rational and not make choices beyond their capabilities. If you do, you should also choose to bear the consequences and avoid irrational behavior! I have also paid the price for my choices, working to pay off debts. If fate allows, we will meet again in the future!!#再见了这段难为的时光