In this year's contracts, I've only liquidated twice, but both times were while I was asleep.
Large amounts.
What I've been doing is hedging + gradually adding to positions or quickly closing profitable trades with leverage below 50 times. So as long as I'm awake, I always find a way to close and make money.
The problem is I need to sleep.
I can't be awake for 24 hours, can I?
I stayed up until after 3 waiting for Trump to finish speaking and finally got two hours of sleep, at that time it was still around 1,013,000. After sleeping for two hours, it spiked to 1,040,000, and that’s when I got liquidated. I woke up after 5 and found out I had already been liquidated.
I don’t want to say anything emotional.
But the saying that the market is always right, I don't quite believe it anymore.
It's not that I don't believe in cryptocurrency, but I no longer have much faith in the contract market.
Now the rapid decline clearly indicates a double liquidation for longs and shorts, and high-frequency trading can only avoid liquidation by
1. Maintaining a hedge ratio of almost 1:1, raising margins but getting caught in positions.
2. Getting every trend right.
I haven't even mentioned the damage from transaction fees.
Who benefits the most?
Simultaneously earning commissions + earning margin and being able to see accurate market data on double liquidations, who is it?
Think about it, I won’t say more.
You can make money, but you can't look too bad while doing it. Have you already liquidated both longs and shorts yesterday? Isn't that enough?
After washing out all the retail traders' money, if everyone stops playing, you'll behave yourself.
Additionally, from a design perspective, after spending time deeply in this contract market,
I can say it’s not designed for ordinary people to make money.
Only if you have large funds and ultra-low leverage (not just below 50, but closer to below 10 times) + getting every trend right can you almost always achieve considerable profits with each trade.
Today some data has also secretly changed. Let me take BTC as an example. A couple of days ago, the minimum unit was previously 0.002 BTC with a cost of about 4.4 USD; in these past two days it has changed to 0.001 BTC with a cost of about 4.4 USD.
I've been on the front lines, so I remember these little details.
Of course, the liquidation price not being high enough is my own fault, but I believe it's not my problem that I can't watch the market 24 hours a day.
Because hiring someone to monitor the market and operate according to my model would increase costs.
What I've said above is very rational. Rational discussions are fine, but those who are just flaunting fake trades and have not been in the contract game for long don't need to act tough.
I still have faith in cryptocurrency; spot trading is king.
However, contracts are clearly a casino and are getting worse. After changing my trading method for the last few trades, I will completely leave. $BTC
Large amounts.
What I've been doing is hedging + gradually adding to positions or quickly closing profitable trades with leverage below 50 times. So as long as I'm awake, I always find a way to close and make money.
The problem is I need to sleep.
I can't be awake for 24 hours, can I?
I stayed up until after 3 waiting for Trump to finish speaking and finally got two hours of sleep, at that time it was still around 1,013,000. After sleeping for two hours, it spiked to 1,040,000, and that’s when I got liquidated. I woke up after 5 and found out I had already been liquidated.
I don’t want to say anything emotional.
But the saying that the market is always right, I don't quite believe it anymore.
It's not that I don't believe in cryptocurrency, but I no longer have much faith in the contract market.
Now the rapid decline clearly indicates a double liquidation for longs and shorts, and high-frequency trading can only avoid liquidation by
1. Maintaining a hedge ratio of almost 1:1, raising margins but getting caught in positions.
2. Getting every trend right.
I haven't even mentioned the damage from transaction fees.
Who benefits the most?
Simultaneously earning commissions + earning margin and being able to see accurate market data on double liquidations, who is it?
Think about it, I won’t say more.
You can make money, but you can't look too bad while doing it. Have you already liquidated both longs and shorts yesterday? Isn't that enough?
After washing out all the retail traders' money, if everyone stops playing, you'll behave yourself.
Additionally, from a design perspective, after spending time deeply in this contract market,
I can say it’s not designed for ordinary people to make money.
Only if you have large funds and ultra-low leverage (not just below 50, but closer to below 10 times) + getting every trend right can you almost always achieve considerable profits with each trade.
Today some data has also secretly changed. Let me take BTC as an example. A couple of days ago, the minimum unit was previously 0.002 BTC with a cost of about 4.4 USD; in these past two days it has changed to 0.001 BTC with a cost of about 4.4 USD.
I've been on the front lines, so I remember these little details.
Of course, the liquidation price not being high enough is my own fault, but I believe it's not my problem that I can't watch the market 24 hours a day.
Because hiring someone to monitor the market and operate according to my model would increase costs.
What I've said above is very rational. Rational discussions are fine, but those who are just flaunting fake trades and have not been in the contract game for long don't need to act tough.
I still have faith in cryptocurrency; spot trading is king.
However, contracts are clearly a casino and are getting worse. After changing my trading method for the last few trades, I will completely leave. $BTC
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