Unforgettable Double Eleven 2024
Every year has memorable events, and for me, the Double Eleven in 2024 was the most significant moment since I started investing. In 2024, Bitcoin (BTC) broke through 80,000. There had already been several days of significant gains before the breakout, and I had been waiting for this moment for a long time. At this point, if I hadn't taken any action, it would have been a perfect ending. However, human nature always wants more. That day, I don't know what went wrong, but I shorted BTC with 25x leverage. A few hours before I shorted, I wasn't experiencing much loss, but after 10 PM, BTC surged again. I intended to rest but immediately got out of bed. I kept watching the charts, silently wishing for a decline, but contrary to my hopes, it kept rising. Shorting was a negative expected value move, but my unwillingness to give up kicked in. I added to my position every time it rose by about 2,000, and I kept increasing my position until 5 AM. The market showed a slight decline, but it wasn't deep. At this point, my brain was completely muddled, so I went downstairs and smoked three cigarettes. Perhaps because I hadn't rested all night, smoking didn't help clear my mind. I felt terrible; I usually don't smoke, but with the tension, I wanted to cry but couldn't. With the smell of smoke, I constantly gagged. Unable to take it anymore, I went upstairs to rest, but I couldn't calm my mind thinking about the charts. I held on until after 7 AM because I still had to go to work. Considering I hadn't rested all night and had to drive to work, I felt awful and couldn't find a reason to take a day off. I opened the car window as wide as possible to clear my mind and forced myself to go to work. However, during the day, the market remained very strong. I managed to endure for about 20 hours without rest. By the afternoon, around 5 PM, I couldn't bear it anymore, fearing that if this continued, my position would completely blow up. I had been holding my position for nearly two years, and all my efforts would go to waste. I closed that position and also liquidated all my other spot holdings. After closing the position, I finally felt relieved, so I lay down in the break room and rested for 30 minutes, which was extremely refreshing. This reckless operation cost me the most expensive lesson of my life, 60,000 dollars, almost leading to my total loss. I'm not writing this to gain sympathy or attention, but simply to document this event to avoid making similar mistakes in the future. Life's journey is not in vain; every step counts. Since that significant loss, I haven't traded for nearly a month, reflecting and learning. I hope to lift myself up and start over. Keep going...