A friend shared his "adventure" - he used 3000U to open four lots of Bitcoin, and added a hundred times leverage, and earned thousands of U in a short time. It sounds like an exciting gamble. But to be honest, I really can't agree with this way of playing. I feel that he is more like "giving red envelopes" to the exchange.
Let's do the math. The opening and closing fees are simply a big piece of the principal for him, easily eating up 20%. If he continues to play like this, whether it is a lightning-fast one or two days, or a dragging two weeks, the risk of liquidation is always there. I tried to persuade him kindly, but I was scolded and labeled as "low-educated". This misunderstanding is really deep.
In fact, in this industry, we have to be patient, take it slow, and be steady. The market is volatile now, so it is better to take the opportunity to cultivate internal strength, and wait for the bull market to come, and then we will take advantage of the situation. That is the correct way to make money. Always thinking of getting rich overnight and gambling with high leverage, it is very likely that in the end, it will be a waste of time and even lose both the wife and the army.
I admire the drive of those young people, but I appreciate the wisdom of those who understand risk management and can survive in the market for a long time. Our goal is not a short-term victory, but a long-term steady progress. So, friends, let us learn and grow together, and use wisdom and patience to welcome the bull market that belongs to us!
