Many years ago, a story about a friend speculating on cryptocurrencies, which still resonates today, showing how obsessed he was with virtual currency at that time.
Just now, I made three rounds of ETH and lost 5000, my mindset collapsed, I uninstalled the software, exited all related groups, unfollowed topics, and deleted friends. This is gambling; once you play, you have the mentality of a gambler. I learned about Luna's crash from the hot search in early May, and from that moment, a seed of malicious thought took root in my mind.
I knew nothing about virtual currency; I had never understood it, nor had I tried to learn, but somehow I bravely registered an account. As soon as I logged in, I chose Luna, which had reopened at 0.00001. I wanted to buy but didn't know how to deposit money. Initially, I just charged 200 yuan to test the waters, and finally managed to deposit, but Luna had already dropped to 0.00005. At that time, I directly bought a few dozen yuan of the spot, but it started to fall. I had no idea what I was doing and bought impulsively, merely a few dozen yuan, then I topped up another 800. I thought to myself, after this, I would quit.
I treated 1000 as tuition, but after being tossed around by Luna, only 400 was left. Then I saw a tweet in a WeChat group I joined about a coin that would inject 100 million in funds. I searched for that coin and found it skyrocketing from an average price of 20 to 60. Without thinking, I directly bought 400. Within seconds, I made a double profit but soon noticed it was quickly retracting and falling. I hurriedly sold it and made 200, but later thought it would go back up, so when it hit 60, I bought again, but it turned to 50.
So, I bought twice more, and after making 200, I lost my principal and another 200. Now, I only had 200 left. Gritting my teeth, I recharged 2000, but still lost all the way. Later, I charged another 1000, which were still insignificant until I saw contracts.
Only then did I realize I could directly leverage and play with multiples. I thought it was too fast; if I invested a little money, wouldn't I make several times back? Later, Luna reopened and peaked around 12 yuan, but I never made a profit because I lacked the right mindset. I was purely a novice. Once I faced a loss, I panicked and couldn’t hold on, getting liquidated countless times. I even charged up to 10000; for example, when I bought in at 9.8, it started to fall. I kept averaging down for several hours until I lost my mindset and had heavy positions. When it slightly rebounded and began to consolidate, I cut losses. After cutting, it started to rise. If I had waited a few more minutes, I could have made more money. I wondered if the market was monitoring me, getting liquidated and cutting losses countless times.
But I was unwilling to accept this. I told myself many times that I would stop playing, but once a seed is planted, it takes root and sprouts. I couldn’t control my hands. Later, hearing others talk about the aunt's coin being halved, I searched and played; playing with ten or twenty U was always profitable, but once it got big, it was always a loss. On June 1, it was Luna again, and I got stuck. I thought every time I sold, it would rise; this time I had to hold on until the end. But it plummeted and couldn’t recover. In the end, I lost 900 U. By then, I had lost 16000, which was unbearable. Usually, I played with only ten or twenty U, and my mindset exploded, yet I still didn't think to quit, always hoping it would come back. Later, OP came out, and I joined a Weibo group.
But I was still a novice being harvested back and forth, and I had lost 17500 by this point. Until later, I learned that everyone was not playing altcoins in contracts; they were playing Bitcoin and Ethereum, opening up to a hundred times leverage, making a double profit with just a few points. My bottom line was that I invested 20000 and was left with only 2000. But without margin for these, I charged in another 2000. In the past few days, Ethereum crashed all the way down, but I never seized the opportunity. I always bought against the trend; when I bought the rise, it fell, and when I bought the fall, it rose. At this point, I had never made a profit. When I went to sleep, it would crash. I couldn’t hold on to the orders in hand; when I went long and sold, it would rebound immediately, and when I shorted, it would crash immediately. But I maintained the last 2000. Last night, I thought about following the group leader in the Weibo group. The first order was reported, but it wasn’t accurate, and it rose by 200%. I was panicking, but he told me to stay calm and not cut losses. I listened, but later it also fell. I was afraid it would go back, so I sold it and made over 100 U. It was really the first time I made so much in so many days, and I was so happy; I instantly trusted the lead. At eleven o'clock, the lead reported the point to go long at 1200, stop loss at 1185. I decisively entered, but it wasn’t ideal. It quickly dropped sharply to around 1164 and immediately bounced back, but I had set a stop loss, so I closed it, losing more than 50 U.
I thought, since I made a little over 100 before, losing half was fine. Soon, the lead sent out the second order: short at 1225, top up at 1235, stop loss at 1245. This order was the trigger; from the point it reached, it never came down, climbing all the way up. It might just be the time for institutions to enter. The lead asked to set a stop loss at 60, but suddenly, Auntie surged all the way to the 80s, and my order got liquidated. This order directly lost over 500 U. At that moment, my mindset fell apart. The last 2000 of my bottom line was gone, and I also lost the money I had set aside as margin. By this point, I had lost 20000. In my despair, the lead sent another order: long at 55, top up at 45, stop loss at 35. This time, I didn’t trust it. I just knew it would go down. I went long at 51, but my mindset had already collapsed. When a person loses their mindset, they can lose money on anything. It climbed to 60 and then dropped back to 53. I sold, and then it started to consolidate. Later, it slowly dropped to 45, and I chose to long again, but the trend had already begun to decline. It hit 35, and I topped up; at 25, I topped up again. After half an hour of consolidation, I lost over 100 U, and I still cut losses. In the end, I lost 22000. I was dumbfounded and yet awakened. Although the money may not be much for others, it is a huge amount for me. My savings, which could have amounted to 100,000, were now down to 70,000. Then I thought, why were the last three orders from the lead all wrong?
Could it be that everyone in the group was a shill? Such a significant error without anyone complaining? But blaming anyone is useless; the money is already gone. I no longer had confidence in recovering, so I immediately decided to withdraw the remaining money and delete everything related. Timely stop-loss; this loss was already enormous for me, beyond my maximum tolerance. But I also felt fortunate; if I kept playing, the next could be 25000, 30000, or even more. This lesson will stay with me for a lifetime.
If you haven't played these, definitely don't play. Don't understand; this is gambling. Even if you have strong self-control, once you step in, you will become a gambler, having the mentality of a gambler. Why did I go from initially losing 200 to finally losing 22000? Many times, I’ve mocked myself. Others at least made money and then lost it, while I lost all the way, never tasting victory. In just over 40 days, I was living like a ghost, feeling like neither a human nor a ghost, trapped overnight and staying up until morning. Looking back now, I don't know how I got through it. I really was possessed; it's as if it was attracting you, and you couldn’t help but get close to it. In a scam, whatever you buy, it goes against you; as soon as you sell, it immediately rebounds back to your break-even point, back to your doubling point. I was being slaughtered at will. Many people might laugh at me, saying I was just a novice who dared to play like this. If I don’t lose, who does? It’s indeed like that; I only realized after losing while playing randomly.
No matter which project you play, first understand its model, and after learning it clearly, proceed with a series of operations. This was likely the fuse that led to my continuous losses. Not understanding anything, I crashed into the world of virtual currency, and indeed it was a total loss. People really can’t earn money beyond their understanding. And never expect to gain without effort; if you have a mindset of finding a pie falling from the sky, there are people making tens, hundreds, or even thousands of times of profit, and when you search for this group, all you see are those making money. But you should also think, why should it be you making a profit? The ones losing money are in the corners, and there are plenty of them. Only a few make money, but they are so dazzling. This is the end of the nightmare that lasted so long. Now it’s five in the morning; after crying, this dramatic forty days is over.
I need to adjust my mindset and start anew. Treat failures as experiences; at least I am not in debt, and I haven’t lost everything. I should be grateful.
