MY STORY AFTER #MarketDownturn

The market down turn affected me negatively. I lost all my portfolio in future trading, I was liquidated which left me depressed and I had to leave Binance for a while. I just returned, saw this post and decided to share my thoughts.

The Cause of #MarketDownturn

I'm not an expert in the crypto space so don't expect technical analysis from me. Some experts say there will be a retracement of Bitcoin and lots of people sold out of fear. Some say it is a global market downturn, US inflation rate, elections and war in the middle East and so on. All I will say is, Bitcoin crashed which leads to the crashing of Altcoins.

The Effects of #MarketDownturn

The Effects were alarming and massive, billions of dollars wiped out, traders were liquidated and inexperienced traders like me got burnt to the ground. I kept on adding more funds as the market deepened until I was left with nothing. I could not believe it until I got the liquidation call and that was the end for me 😭 I pray to recover soon.

What I learned in the #MarketDownturn

Don't invest all your money in crypto

Don't invest more than you can afford to lose

Don't disregard risks management like stop loss and take profits

Don't hesitate to close your positions in a turbulence market. At least you still have a small capital to start again instead of losing everything in my case.

Finally, I will commit to learning and to improving my trading skills and research.

Thanks for reading, I'm open to your assistant. cheers 🥂 #MarketDownturn