I see many people are using loans to speculate in cryptocurrencies. I don't know what to say. I don't know about spot trading, but the fate of 80% of people using contracts is predictable, because of human nature and greed, it is often difficult to control oneself. I think I am on guard against myself every day, but there are still occasional situations, not to mention other people. Because the purpose of using loans to speculate in cryptocurrencies is to quickly get back the money, the inner anxiety is high, and the position ratio is estimated to be relatively high. I think three out of ten speculators are using loans.

I will not comment on using loans to speculate in cryptocurrencies, and it is not my turn to comment on it. I can only hope that these people are really lucky and become famous. Regardless of whether it is a big loan or a small loan, if it really comes to the point of no choice, you can only blacklist your credit, but you don't have to repay it. There is a person in my village who did this. He took out a lot of loans. When I went home for the Chinese New Year last year and asked him how much he owed, he couldn't tell the specific number because there were too many and he couldn't count them all. If it really comes to this, you don't have to worry about the loan, just take care of your current life. If you have a credit card and you have to negotiate monthly repayments or pay 1% or 2% every month, it means that you are willing to repay. Otherwise, there is a risk of overdue credit card payments.

Speaking of stop loss, I usually stop loss at most 200% for my 100-200-oil position. If the large position loses 50%, I will consider running away. Of course, for me, 1000 oil 100 times is already a large position, taking this as an example. When you can go all-in, the position is generally good. If 1000 oil can still lose 500 oil, it means that it will take more funds to continue to hold it after falling below the channel, so I might as well stop loss. If there is 3000 oil in the account, I stop loss 500 oil, and there is still 2500 oil left. It is not difficult to make 500 with 2500 oil. If you hold the order, there is a risk of the 3000 oil being wiped out, and it is difficult to make another 3000 oil. This is my simplest understanding of timely stop loss.

I think there are two reasons why I can survive. The first is that there is little pattern, and the second is timely stop loss. When you have less capital, you can accumulate the principal with the small amount you earn, and go all in on the profits. If you lose money, you won’t be too sad. If you lose money on a small position, you won’t be too upset. If there is no profit on a small position, there will be no time for a big position.

The truth is the same. In fact, everyone understands it, but it is difficult for many people to do it.

I just flipped through the album. I forgot which friend lost money.