Contribution from a fan: Money can’t be used in a hurry

"Don't make money at the wrong door", this ancient wisdom maxim, I now fully understand.

In June 21, I accidentally stepped into the world of currency circles and started my contract trading journey. At first, due to lack of experience and knowledge, I operated blindly and suffered heavy losses. I lost 20,000 yuan in a short period of time. However, I didn't learn my lesson and instead continued to top up, hoping to recoup my losses in a bull market. However, the market was not as simple as I imagined. I kept short selling, but suffered liquidation every day. In less than half a year, my savings were wiped out.

In 2022, I started to use credit card funds for transactions, but the arrival of the bear market put me in trouble again. I opened a long position but suffered losses every day, and lost hundreds of thousands of yuan in a short period of time. At the end of 2023, I tried to recover my losses by short selling, but the market suddenly rebounded and I was hit by a liquidation again.

Looking back on my past operations, I deeply feel that I was trading entirely based on my feelings and there was no logic at all. I knew nothing about the market background. I refused to admit defeat when I was wrong and insisted on taking orders. Although I never blindly open large positions and always cautiously open small positions in the hope of carrying it back, I ignored the unilateral trend of the market, which can keep rising or falling. During the period of being trapped, I also like to try various altcoins, but the result is often that I open one to arbitrage, and in the end I end up with a liquidated position.

During this period, my mentality completely collapsed, and despair and pain enveloped me. Whenever money comes into my account, I regain my confidence, but the result is that I always torture myself again and again. If you open a long position, it will fall, and stop the loss; if you open a short position, it will rise, and then the position will be liquidated. I was tortured by the market and cried bitterly. I felt really uncomfortable. What makes me even more regretful is that I once asked my parents to borrow money to increase my position, hoping to recover the losses, but the result was still liquidation. I even recharged all my salary into it. I just wanted to get my money back, but I got deeper and deeper into the situation.

The most stupid thing to do is to ask your parents to borrow money. That was my parents' hard-earned money for a year, but I used it to take risks, and ended up being liquidated again. When I was broke, I had to hesitate for a long time even ordering takeout. I was devastated by my losses in contract trading. The world seemed to have collapsed at that time, and I was left with pain and self-blame.

However, after more than a month of self-isolation and reflection, I did not choose to give up. I cheered up again and set my sights on rebates. Life will always have its ups and downs, but that doesn’t mean I have to be stuck forever. Failure is only temporary, and as long as I keep faith and pursue my goals relentlessly, one day I will get out of this predicament.

Now, I encourage myself and believe that there will be better opportunities waiting for me in the future. I will learn from past failures and face market challenges more cautiously. At the same time, I will cherish the support and care of my family and no longer let them worry about me. I will work hard to get out of the gloom and welcome the dawn of the future.