Recently, I received a share from a fan. As a college student, he encountered a huge setback on the road of cryptocurrency trading.
Just some time ago on May 10, my fan made an impulsive decision. At 8 o'clock that morning, he chose to open a 50x Ethereum contract and invested about 450u. Just half an hour later, he was liquidated.
What's worse is that he used full leverage, which caused more than 2,800u in his account to be emptied, and the overall loss was close to 20,000 yuan.
He told me that he was a freshman and his family was not rich. His parents raised him by doing some small business. Whether it was opening a small shop or setting up a street stall, it condensed countless sweat and hard work of his parents.
He was also a very strong child. He rarely asked his parents for money since he was a child. The 20,000 yuan he lost this time was all his savings that he had accumulated bit by bit from elementary school to college.
He lost everything after only two months of cryptocurrency trading. He told me that at 9 o'clock that morning, his heart was beating so hard that he couldn't calm down. Until now, every day is like a nightmare, and he feels as if he is suffocated by an invisible pressure.
He also thought about using the remaining 2,500 yuan to turn the tables, but in the end reason overcame impulse. He was scared, really scared. That heavy pressure, like a huge fat man pressing on his chest, made him breathless.
Now, he deeply regrets it. He regrets why he made such a stupid decision to leverage the full position. He even blames himself with vulgar words. At the age of 19, he has to face the mistakes he made and learn to bear the consequences.
I hope to warn more people through his story: stay away from contracts
Don't pay a heavy price because of momentary impulse and greed.
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