@MR-217 @Pepecoin A cousin of mine traded in Binance for the first time His margin was 1$ on which he maintained 20X leverage. Within minutes he took 200% profit and was happy But The next moment his account was washed
He is broken— 💘
Now he says he invested in crypto for the first time in his life — which ended up being a loss
I will never step into this market again Whose mistake was it? Crypto or Investor's?
Dear Traders — I am writing this with a true story as evidence I always say don't use leverage and leave a coin once you buy it Keep psychology in control — every coin has its time and then it gets pumped
I bought #People at 0.26 with 100$ now at - 0.50 #Doge at 0.076 with 150$ now at - 0.15 #shib at 0.0096 with 50$ now at 0.022
Guess how much profit i earned ?
Answer is only 100Usdt 😕 from doge and sold at 0.01
Reason.
Our problem is just psychology — we don't have patience to ho
I placed proper SLs. The price touched my stop loss when i was sleeping and dreaming of hundreds of doller.
Billions usdt liqudated last night, don’t blame market, everything is possible at backstage,
These Red gigantic spikes are nightmares, It feels like all of this is happening intentionally, causing people to lose their money. But main responsibility is on only traders.
Guys You are equipped with very effective and modern weapons like defensive SLs, and very disastrous TPs, market is often play against your thinking,
I always always skip SLs Due to this bad habit market liquidated my account twice, last night my 4 trades were with proper SLs, Three without SL, my account survived slightly just because of low leverage.
Remember that without SL, your account could be liquidated if your liquidity is 1000X away, always set SL, Loosing of 5,10,20 or 50Usdt is much better than liquidity of account.
I decided and Promised to my self today , I’ll never leave a trade without SL next, the only survival