Xiaobai's initial understanding of the cryptocurrency circle and the first liquidation

I had my initial understanding of the cryptocurrency circle on November 8th, and it has been a month today. I have experienced everything in a month, and I just had a liquidation at 5 am today. Let me summarize my experience in this month.

I just entered the market on November 8th, and my friend recommended me to buy kas contracts. I entered the market at 0.12 with 1000 RMB, and the forced liquidation was 0.07. At first, I didn't know what forced liquidation was and what liquidation was. Then on November 11th, kas rose to 0.135 and sold for a profit of 20u. After selling, it rose and stabilized at around 0.145. It was my first transaction, and I didn't have any regrets. Then I increased my capital and focused on kas and bnb bands, making an average profit of about 500rmn a day. I bought some randomly occasionally. I bought the meme coin mood for the first time. At that time, I didn’t know what meme coin was. It started to rise at the historical high of 0.7, and then I lost 500u in an hour. I hesitated when I lost 100 or 200u. Finally, I had to sell at a loss when it reached 500u, but I didn’t have a big emotional fluctuation because I felt that the market was still there and I could make up for the losses elsewhere. Then I started to buy ETH and BTC with more capital. Every time when it was at a high point, I thought it was still rising, and I was trapped every time. These days, I always get trapped while trading in the band, but fortunately, I can get out of the trap every time when it is pulled back. On December 6, my BTC rose by 10,000 and ETH fell by 3,800, so I didn’t blow up my position. Not only did I withstand the blow, but my ETH also got out of the trap. At 5 a.m. this morning, my bnb, BTC, and ETH positions opened up. I heard about the blow last night, and after seeing the market, I saw that a large number of people were shorting. I thought it wouldn’t fall too much, and I also realized that my three positions would be affected by the blow. Because I was trapped for 300u last night and didn’t get out of the trap, I didn’t have the heart to sell my stocks. The reason for the blow up is my gambling mentality. So if you want to enter the cryptocurrency circle or stocks, you must overcome fear and greed. Fear is easy to overcome. If you have a lot of money, you won’t be afraid, so just open a small position to overcome greed. Because mainstream coins will always show an upward trend, don’t open short positions easily, and sell your stocks in time if the loss exceeds the acceptable range.