Summary of 10 consecutive liquidated trades on the morning of October 8: Starting from noon on October 6, I was confused in opening orders and missed many opportunities. The following are the three most important orders that I missed:

1. I opened an ARK order at 12 noon on the 6th, but I was anxious to get my money back. I had to go to work after the holiday and could not watch the market. With 20x leverage, I sold my shares when I saw a 20% floating loss right after opening the order. As a result, ARK surged 20 points in the evening. I should have been able to capture a 4-fold increase, but I avoided it perfectly.

2. I opened a NEIRO order at 18:00 on the evening of the 6th. Also because I was anxious to recoup my capital, I used a high leverage of 20 times. When NEIRO pulled back by 2%, I was scared to sell at a loss of 20%. As a result, NEIRO began to soar at 20:00 in the evening. Because I liked high leverage, the fluctuations were too large during the surge and I was stopped out when I entered the market. I did not dare to open a single order. As a result, I missed the nearly doubled increase of NEIRO for two consecutive days.

3. I opened a REEF order on the evening of the 7th. I encountered the same problem and the same method. Due to the high leverage, REEF immediately skyrocketed after I cut my losses and left the market.

Summary: In the continuous trading during the National Day holiday, or in the past three years of trading, the market would pull up as soon as I opened a short position, and fall as soon as I sold my losses; and the market would fall as soon as I opened a long position, and it would pull up after I hit the stop loss. Over time, I sold my losses many times and left the market, and my principal became less and less. I don’t know how much money I deposited, but I lost it all. I even thought that I was the only retail player in this exchange, and the dealer was watching me open orders and waiting to sell me. But after careful analysis, it was all my own fault. Here are some fatal mistakes in my trading process:

1. Too high leverage: I always use 15-20 times leverage, and I go all in with all my positions. I don’t have enough technical skills and I’m walking on a tightrope. I’m a novice but I love to play. A slight market fluctuation of 2%-3% will cause me to suffer a floating loss of 50% of my total capital. I can’t bear it psychologically and I have to sell at a loss.

2. Short-sighted, too eager for quick success, superstitious about rolling positions: In fact, I don’t start to lose money every time I open an order. In most cases, I have the opportunity to leave the market with a floating profit after opening an order, but I am too eager for quick success. I always fantasize that this order can double, and after doubling, I fantasize about rolling positions to quadruple. I will not wake up until the market pulls back a few points and hits my stop loss. Human greed and stupidity are fully reflected in me. No one can get rich overnight with just one order, but I always think about rising back when I lose a little, and I think about making more when I have a floating profit, until I was taught a lesson by the market.

3. Remember to eat but not to fight, know but do not do: I started to trade in cryptocurrencies in 2021, and it has been more than 3 years, and I have lost more than 400,000. I still remember that after registering on Binance, SHIB happened to be launched on Binance. At that time, I knew nothing about the market. After seeing the announcement, I simply understood the trading rules of the contract and bought it directly. 5,000 yuan increased 8 times in one day. From then on, Pandora's box was opened, and I began to be obsessed with leverage and rolling positions. I also know that small wins must be accumulated into big wins. Personal will cannot fight against the general trend of the trading market. After there is floating profit, it should be stopped in time, and high leverage cannot be opened, but no matter how many times I lose, it cannot be changed.

This is the first time in more than three years that I have recorded my bad habits. I publish it to remind myself not to fall into the same trap I have fallen into countless times. From now on, I will read this article before placing each order, remember the consequences of my previous stupidity and greed, and don't make the same mistake again.