Why didn't I open a short position? Because I chose to be a friend of time!
At that time in 2021, I had some money in my hand, and I felt that there was no need to open a simulated trading to try trading. With the amount of funds I had at the time, I just went for it! I like shorting the most, but I was blown up many times! I clearly remember that it was also in April and May. The first time I opened was BNB, and ALICE. I also said that I would short BNB for a long time because the increase was too outrageous! The BNB in my impression was the one that struggled around 20 yuan, but it exploded after a few days. But at that time, it was only a few thousand U. Later, it was outrageous. I opened a Dogecoin position and a Shiba Inu position. I saw that Bitcoin had been falling for a week and had not stopped, so I opened a short position in Bitcoin. I opened 5, but I lost more than 20,000 U in the morning. Then I hedged with Ethereum. I didn't expect that I would carry two floating loss orders in a row, and I closed more than 30,000 U. I really didn't dare to carry it.
In May, I opened a short position in EOS, but a lot of good news came out, such as Li Zekai's investment and new projects. I opened 40,000 U and triple leverage, and started shorting from 11 yuan. As a result, it exploded in less than a day!
The friend who brought me into the circle to buy spot made more than 20 million RMB that year. When I told him that I was liquidated every time by hundreds of thousands of RMB, he was surprised and asked me why I opened a short position... I said that too many people were clamoring about what a scam it was. People's panic emotions are easier to control. I think it is more advantageous to open a short position! After listening to what I said, he said that what I said made sense, but he advised me: Brother, this thing has been around for so many years. At the beginning, we entered the market with 3,000 dollars, and now it has 400,000 or 500,000 RMB. Even if it is a scam, this scam has also generated a consensus on value. If you think it is a scam from a logical level, then the currencies issued by many countries are also scams; I don’t recommend you to short, the profit space is limited, if it rises, even if you have ten times more wealth, you may not be able to withstand the increase of some coins in one month!
I have a lot of feelings about what he said. Although there are good and bad people in the industry, I have come through all these years. I suddenly understand some truths. Even if you are bearish on this industry, you cannot short it. Especially as a retail investor, you must be a friend of time. $BTC