#MyFirstFeedPost Welcome to Binance Square!

Rookie’s first challenge on Binance, betting on UMA

I just transferred funds from OK to Binance in the past few days, and I experienced a thrilling life-and-death battle:

On the day when UMA skyrocketed, I made many swings to gain small funds, and the profit was good. I transferred 3 or 400U. However, I forgot to close the short order at night. When I came back from a late night snack, I found that the short order had been placed inexplicably, and I lost 1200U.

Unable to bear it, I kept going up all the way to cover short orders. As a result, I got drunk and bought all my funds into short orders. When I reacted, I was broken out in a cold sweat. All my assets were liquidated at 5.55. As a result, the highest point of the contract was hit at 5.49. Then within an hour, I quickly inserted the pin to my cost price of 4.23. I closed the position at 4.2, which saved my life and made a profit of 300U.

Now that I think about it, if I had gone against him at that time, my chances would have been doubled, but I was forced into a life-or-death situation.

So when making a contract, you really have to stay calm, stop the loss when you need to, and bet on your life every time. The feeling is really addictive, and you may fall into it unknowingly, just like gambling. No different.

The next plan is to build a position in UMA with a small amount of money. If it can continue to rise against the trend of the big pie, I am optimistic that UMA will reach a new high. I wish the dealer smooth shipments. Follow the dealer's ideas and drink some soup.

In 2024, I hope that in this Bitcoin adventure, rookies will not be the ones who make more money, but only the ones who can survive!