Last November, a friend traded contracts with a principal of 500,000 and leveraged 5 times. The account peaked at 4.3 million. After deducting fees and commissions, as well as part of the hedge against the spot market, the total return was a staggering 851%.
At that moment, if it were you, what would you do? Most people would have already stopped, but he didn't. According to his wife, there was a small dip in the middle, and he didn't cut his losses; later, it rebounded. At that time, his contract account had already made over 900%. There were probably too many short positions, and he didn't pay attention. Then it dropped a bit, and he still didn't choose to cut his losses. His wife said that when it reached 430, he called out to her with a slightly trembling voice to tell her about the situation, not particularly excited, and then just stared at the screen, incredibly calm. Because in contracts, he had made almost 3 million during the previous peak, and then gradually lost it all. Having seen great storms, he could remain incredibly calm in such situations.
He firmly believed it would reach 500, wanting to wait until it surpassed 500 before stopping. But then... without hedging the contract position, a needle came down mercilessly... The account instantly dropped to a little over 80, almost 90. Closing the position was clearly too late... The outcome, as everyone knows, was a bomb...
The rest is that he held his head in both hands, sat in silence for two minutes, and his wife vaguely sensed something was wrong. Just as she was about to ask him what was wrong, he rushed to the windowsill and jumped down... Fortunately, his home was on the third floor, so his life was saved.
But his legs are forever ruined.