*Should we use leverage or not? (Part 1)

My own short answer: No!

Do not use traps even if it is x2.

I used to enter the market with full enthusiasm, combined with arrogance and greed. I use trap x10. And the result is as you probably guessed, I burned my account for the first time, about $1500.

I was in pain, my heart felt like it was exploding, I was tearing my hair out, tormenting myself. Many days of fasting and not dressing, accumulating money, liking an item and not daring to buy it, but in the end, a large amount of money immediately evaporated. Like a gamble.

That pain lasted 3 months.

Then I sold the gold and came back. The stupid thought here is: I want to get back what I lost.

The mindset of regaining what has been lost is extremely dangerous. Because it brings a hasty mentality, wanting to win or lose enough with the market. This leads to the second loss. Although this time more cautious, only using traps x3, x5. But not decisively cutting losses causes your capital to gradually dry up. I continued to lose $1500, the remaining balance was $500.

In extreme pain, I withdrew the remaining $500 for daily expenses, and from there I cut off cryptocurrency for a while.

What is the lesson? We cannot use the immature (but greedy) understanding of a new market entrant to win. You will only make profits when you become more skilled and knowledgeable.

Unfortunately, many newbies have lost money in the same way as me. Hopefully you will stay calm, keep a cool head and be less greedy to learn slowly, before putting too much money into the trading floor (enough to cause you pain).

The story of leverage is still long. Follow me to read part 2.