A little sad story

[iTradeChips]

If there is one thing that a trader must accept as fact in the world of trading, and that is the fact that we don't know what the future would bring. No one surely knows that the price of Bitcoin will go up 60,000 dollars. If you have needs at that time and you need to cashout then you will be cashing out your Bitcoins for fiat. Only those who have other means to live must have save their satoshis and be able to have the discipline and the patience to wait for a long time before cashing out now.

[1715209480]

1715209480

[1715209480]

1715209480

[Fredomago]

If there is one thing that a trader must accept as fact in the world of trading, and that is the fact that we don't know what the future would bring.

No one knows everything is only speculations, if that's possible and easy to be done,
there are more millionaires that those who lose to this business.

No one surely knows that the price of Bitcoin will go up 60,000 dollars.

No one and only those long term holders really enjoy that ride, most sell after breakig the last time high.

If you have needs at that time and you need to cashout then you will be cashing out your Bitcoins for fiat.

Surely that's the right thing to do, no other option but to cash it out due to your financial needs.

Only those who have other means to live must have save their satoshis and be able to have the discipline and the patience to wait for a long time before cashing out now.

Correct! only those who have other sources of financial needs can do that long hold, they are now gainers and really financially more capable to keep holding.

[pawanjain]

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

RIP

I know how that must feel since I had also liquidated all my balance on leverage trading. At first I was happy since I had doubled my initial capital.
But then the market fell and all my balance got liquidated. But yeah, even though I lost the amount I got to learn a lot from it.
We can never predict how the market will behave and it's pretty much a gamble in itself.
So be happy that you didn't lose your actual money and just played with the bonus money.

[Btcvilla]

Future is bad choose because when liquid touch you loss your fund but with spot trading although price down still have chance to get profit and waiting until price up, just late to get profit with spot trading and future give faster or instant way how to get much profit with higher risk when you loss by getting liquidation.

[sana54210]

Future is bad choose because when liquid touch you loss your fund but with spot trading although price down still have chance to get profit and waiting until price up, just late to get profit with spot trading and future give faster or instant way how to get much profit with higher risk when you loss by getting liquidation.

Yes, leveraged trading got some pitfalls but money management will be the key there. When you are having excess funds and who are availing calculated leveraged and more importantly when you are good at predicting market directions then definitely leveraged trading will get you magic number of profits.

Anywhere being good in predicting market direction will be helpful and profitable but when you're doing that with leveraged trading then marvelous could happen. But at the same time, due to unpredictable market fluctuations our prediction may go wrong and those marvelous thing will turn exactly opposite to swallow all our capital. This is what happened to OP but fortunately they used only bonus money.

[nelson4lov]

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

Damn, that's as bad as it looks. So sorry about the loss of the funds even though it was freely given. I understand your predicament because I've been in your shoes before (yes, with bybit too) but in my case, I was liquidated for longing bitcoin when it was still battling to get passed $12K resistance back in August - September if I remember correctly. I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself. Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

[Vaculin]

snip...

Damn, that's as bad as it looks. So sorry about the loss of the funds even though it was freely given. I understand your predicament because I've been in your shoes before (yes, with bybit too) but in my case, I was liquidated for longing bitcoin when it was still battling to get passed $12K resistance back in August - September if I remember correctly. I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself. Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

Regrets always happen after we commit mistakes. I hope we can interchange it but we don't.

However, this also gives us the benefit in a way that we must have to do something for not to happen again in the future. It is also a way that could help us to change our strategy, to set our mindset, and particularly is to enhance our decision-making. It somewhat we need to face this just open up our minds that we are wrong and finally corrected.

[jostorres]

I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself.

Even you will be assuming like there are many other opportunities will be available in the future, I guess everyone will be feeling out the pain of losing even that is a free money. That is human nature and when you're feeling like that then there are good chances for you not to commit same mistake again and again.

Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

Leverage trading is seeming too cruel one because when we are losing the pain will be felt in multiple times because leveraged trading is all about in our understanding as easy money because for our same capital we get more exposure. When we are calculating about profits in leveraged trading, if we calculate about losses if we lose then we can avoid such frustration.

It is also a way that could help us to change our strategy, to set our mindset, and particularly is to enhance our decision-making.

I am sure trading is always give you chances to realize the root-cause of mistakes and chances to change our strategy and to tune up our mindset/decision-making capabilities. But, people who now will learn from their own experience will simply move on without learning anything. I guess most people are simply moving and this and it is the reason they are committing mistakes again and again.

[Lanatsa]

snip...

Damn, that's as bad as it looks. So sorry about the loss of the funds even though it was freely given. I understand your predicament because I've been in your shoes before (yes, with bybit too) but in my case, I was liquidated for longing bitcoin when it was still battling to get passed $12K resistance back in August - September if I remember correctly. I just told myself that it's free money and that I'll have better chances next time an opportunity like that presents itself. Futures and leverage trading doesn't take time for things to get sour especially if you're wrong.

Regrets always happen after we commit mistakes. I hope we can interchange it but we don't.

However, this also gives us the benefit in a way that we must have to do something for not to happen again in the future. It is also a way that could help us to change our strategy, to set our mindset, and particularly is to enhance our decision-making. It somewhat we need to face this just open up our minds that we are wrong and finally corrected.

Experience is the best teacher and we wont really learn up something if we don't experience those mistakes.It isn't necessary because its always a inevitable thing to happen.

We don't know on what would happen ahead and we don't able to make out decisions based up on our own presumptions sometimes it can neither be right or wrong.

When we do make out presumptions its a 50% chance that it could be right or wrong.

[sarmrakib]

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

Its really happen when we have some free money .It has lost anyway .however its really a sad story to read and also a learning touch for the beginner and who are in loss on trading as well .We need to give up our greediness and need to get our profit proportionally .However you could made some more money but this time luck not supported to you .However more careful on next time to take your profit .

[Yatsan]

That is kinda a little sad story and I bet we all do experience such thing for quite sometime. You better get good luck the next time around and hope that you can turn things be favorable to you. We do really need to be certain on things just to be able to know our targets so we will not be missing possible opportunities that is just right in front of us. Maybe it is just not your lucky day but I do hope you can still be able to get the next one. But still certain things have been learned from such experience which you can make use the next time around and will make you a better trader.

[goldade]

Well, this has probably happened to every trader who has ever existed. We've all made that mistake of placing a trade against the market. However  what made professional traders different from the one who lost so much that they eventually quit trading is that they learnt a lesson from losses like this.
I've come to realise that you'd still repeat that mistake if you didn't learn from it now. What's done is done. Learn from it and move on

[tygeade]

Experience is the best teacher and we wont really learn up something if we don't experience those mistakes.It isn't necessary because its always a inevitable thing to happen.

We don't know on what would happen ahead and we don't able to make out decisions based up on our own presumptions sometimes it can neither be right or wrong.

When we do make out presumptions its a 50% chance that it could be right or wrong.

That 's what I always say, especially if you didn't lose money, but lost on profit, that is one of the cheapest lessons you could ever have. Think about it, you earn 10 instead of 50 and you have learned a lesson at the same time. I know that people prefer the money in their hands than a lesson and I get that, it makes sense, who would need a lesson when they could have thousands of dollars in profit.

However the reality is that we are doing much better in the long run when we get these type of lessons. Which is why I think it is quite obvious we should be focusing on something that would worth money in the end and not money right now. This might result with you earning 100+ later and 10 now instead of 50 now, and that is  the lesson here. But I also do understand people who still get upset anyway, as long as they learn their lesson that means being upset about it still can be understandable.

[wxa7115]

It's not just you who have such sad stories, even me, and everyone here. We've all been through that
and I think mistakes are an experience to be better at trading and investing. It is not easy in crypto
trading but if you have experience, maybe we can avoid such mistakes not to reoccur.

Losing is jut part of being a trader or investor and anyone that says they do not have some regret about a trade or movement they made or did not made is lying, however the real question is if we learned anything from the experience? And there are many investors that learn from those mistakes and become profitable as they reduce the rate and size of their mistakes.

But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.

[taufik123]

Losing is jut part of being a trader or investor and anyone that says they do not have some regret about a trade or movement they made or did not made is lying, however the real question is if we learned anything from the experience? And there are many investors that learn from those mistakes and become profitable as they reduce the rate and size of their mistakes.

But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.

Those investors who continuously experience losses are those who never learn and cannot develop. They rely solely on emotion and without some increase in knowledge. The sad stories that the OP tells may be only a small part of the sad stories experienced by the novice investor or trader who never learns. Profits and losses are determined from how you can do emotional management and study every mistake you make. Experience also determines, the more experience, the more ready to face every problem and never give up in various conditions experienced.

[wxa7115]

Losing is jut part of being a trader or investor and anyone that says they do not have some regret about a trade or movement they made or did not made is lying, however the real question is if we learned anything from the experience? And there are many investors that learn from those mistakes and become profitable as they reduce the rate and size of their mistakes.

But there are many investors that never learn their lesson and they keep losing over and over again and instead of having just a few stories of this happening to them their entire career as an investor is filled with stories like what we see at the OP.

Those investors who continuously experience losses are those who never learn and cannot develop. They rely solely on emotion and without some increase in knowledge. The sad stories that the OP tells may be only a small part of the sad stories experienced by the novice investor or trader who never learns. Profits and losses are determined from how you can do emotional management and study every mistake you make. Experience also determines, the more experience, the more ready to face every problem and never give up in various conditions experienced.

Many traders spend a fortune on courses about trading and learning about winning strategies and while that is fine as at least they are making a bigger effort than most traders in most markets at the same time this is not enough, traders need to understand that their own mentality is as important as the perfect strategy.

After all what good can be a strategy if just when you need to implement it you decide not to do so because you lost control of your emotions? So while learning new strategies is a way to improve your ability as a trader we must also look for ways to grow as a person as well since that could be even more critical when we need to take a difficult decision under pressure.

[Hannahanto]

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

Oops... Too bad
We have to accept losses, this is the same reason some of my friends I tell about trading leaves. When they hear you're making profit they'll quickly enter the market then exit after experiencing loses and setbacks. To loss is just normal but when it becomes a habit it becomes abnormal. Every trader has his/her strategy in trading, just control your emotions cause it really breaks your heart when you keep losing but the joy from profit too heals.
Rip to the money we lost searching for more

[SacriFries11]

If there is one thing that a trader must accept as fact in the world of trading, and that is the fact that we don't know what the future would bring. No one surely knows that the price of Bitcoin will go up 60,000 dollars. If you have needs at that time and you need to cashout then you will be cashing out your Bitcoins for fiat. Only those who have other means to live must have save their satoshis and be able to have the discipline and the patience to wait for a long time before cashing out now.

That' right. Traders will not 100% sure about their analysis so their still the time that the traders make some mistakes but it's all in the process and must accept the fact that it's not always winning. Learning about the mistakes we made will benefit us in the long run. I don't regret spending all of my bitcoins when the price is still cheap; it helped me when the time I needed money. All I can do now is earn BTC and buy other crypto for the long-term. In trading I always choice on the safe side even it cause me few earnings but all I need is consistence and right timing.

[doomloop]

Profits and losses are determined from how you can do emotional management and study every mistake you make.

Yes, we need to be updated along with every mistake, we are committing. When we are failing to learn some lesson out of our everyday trading then we may simply continue making mistake which will definitely end up in losing all capital.

Experience also determines, the more experience, the more ready to face every problem and never give up in various conditions experienced.

You cannot become an experienced trader when you're failing to learn something from your own trading. You need to be proactive in continuous learning as it is an essential part of becoming professional trader.

[Julien_Olynpic]

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

History does not admit the word "if". If you collect all the opportunities that have ever been presented to me in the past and accept that all of them should have ended well, then I would have become a multimillionaire long ago.

But when you trade with leverage, especially large leverage, the odds are against you. Most likely, you will either be knocked out by stop loss, or you will lose your position. This is the truth of life.