Many people inexplicably comment on how I play so big; it's so big that I want to reply uniformly: I'm risking my life here.
First of all, trading cryptocurrencies is a decentralized behavior. I don’t know how you all understand it, but my understanding is that it is an act without government, organization, or supervision. Your actions are not protected or monitored in any way; buying and selling are entirely value agreements reached directly between the two parties. Once one party does not recognize its value, fiat currency can at least give you a piece of worthless paper, while virtual currency can only give you a string of code. Its value attribute is still assigned by fiat currency. If a virtual currency has value, you should not measure its value with fiat currency but rather directly measure it with a loaf of bread or a tangible good. I believe most people who make money still convert it into fiat currency for consumption. In your eyes, virtual currency is still a chip. Decentralization, in name, is an unregulated and uncontrolled act without government or organization, where only buyers and sellers reach a value agreement. Trading is an extremely high-risk behavior. Some people who have gone through risk assessments at banks dozens of times and are still considered conservative, I advise you to take a step back and not make a fuss here.
Secondly, virtual currency contracts are not real virtual currency trading; they rely on exchanges for guarantees. It's a bet with others: you say a coin will rise today, and they say it won't, it will fall. You both put in money; if it rises, you take their money; if it falls, they take yours. What is this behavior? I can't say it outright, but it seems like there are only a few simple ways to gain without working for it, and I like them all. After all, I just want to be the exploiter. In trading with extremely high risk, shouldn't I control costs more? I don't believe there are many people who would recklessly gamble their entire fortune of two hundred thousand without knowing where it came from, thinking it would double in two minutes and then transfer out twenty thousand to rely on profits. People who dare to gamble two hundred thousand wouldn't hesitate to gamble four hundred thousand; they're not human but emotionless machines.
Thirdly, why are you trading cryptocurrencies? Isn’t it because you are poor, or in other words, you don't have as much money as others? Born into a middle or low-income family, not very smart, and having not read much, you can't find a good job with a million annual salary but want to enjoy life. You don't have much money; what are you pretending to be? When you are about to get liquidated, you scrounge together a few thousand from your bank account, still picking and choosing which C2C is cheaper. With such a mindset, I say to everyone reading this article, let's not blame each other; we are all the same. I've been there too. Real financial tycoons and financial magnates, even if they are trading cryptocurrencies, would never be on this public platform, let alone leave sarcastic comments on my order amount. If a billionaire really came here, I would definitely show them respect. Moreover, think about it; there are quite a few people studying finance in the country. When you didn't get into a good university back in the day, why do you think you can win in this gambling field against those who are smarter, more scheming, and have more professional knowledge than you? Even if you are equally smart, you study mechanics, while they study financial management. Do you think they wasted four years learning specialized knowledge? Some of them are even master's or doctoral students; they rely on this for a living.
Right? Let's be pragmatic, just like me, playing bit by bit. If the factory pays you a salary of six thousand, don’t think about making a hundred thousand in a month. The market price is the most accurate reflection of your worth; you are worth six thousand. People never make money by luck. If a person only sees others becoming rich overnight and doesn’t see the pile of people beneath them who are just as fantasizing, then that person must just be a lump in that pile. 😁
The transaction amount must be greater than 5u to execute an order (this is the amount after leverage, not the margin greater than 5u), but there is no restriction on the amount for closing a position, only on the minimum number of individual coins for closing, such as 1, 0.1, 0.01. So, I invest 20u as margin (10u is too little, not enough to withstand mistakes) with 75 times leverage. The margin utilization rate can be ignored; I open an order worth 5u (margin utilization is 5/75) and then immediately close it one minute later for a profit of 4.9u. I keep 0.1u to observe the position and follow the fluctuations; even if the direction is wrong, there are at least 10 opportunities to average down. Of course, this is only suitable for short positions; the costs for long positions are unsustainable in the long run. As for the one in ten thousand transaction fee, most of the time it can be ignored; after all, in one minute, there may be one or two points of fluctuation, or it can be reduced through other means. Just remember, even with a margin of 0.01u, it's still possible to make a profit. I'm having fun, so let's not complain here. I can't believe there are really big players who envy a 10u fee waiver.
