Crypto guide with @X mucaN part 14 š
ā ļø Be Cautious with Derivatives ā ļø
Crypto derivatives can be very risky; understand them before trading.
We donāt even know where to start from on this topic
Please if you are a newbie, please stay far away from derivatives
If you check the first image below you will see a trader running on over $59,000 loss on a trade( the trader hasnāt lost the money until he closes the trade or hits stop loss or get liquidated)
Look at the second image below, you will see that same trader making $42,000 profit on $WIF and also making about $900 on $SOL
When Newbies see this, they get pumped and forget about the other side of it and then start trading with the little $100 they have and in a week time the whole money is gone
A lot of people lost their life savings while going Short on $NOT a few days ago while some still lost a lot of money while going long
Please,stay away from Derivatives if you donāt have the capital, the capital is really important here
Do you have an account that can go on -$50,000 and still remain on a trade ??
Image belongs to : @Oxxghost on X/twitter
