A little sad story

[libert19]

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

[JollyGood]

Hopefully next time your buying and selling will bring you more successes. You are not the first person and will not be the last that has gone through this situation.

Imagine all of those people that had thousands of Bitcoins years ago but traded them for other useless crypto when they were being mass created only to see their investments collapse, or those that see the current $60,000 price but sold at $30,000 a few months ago or sold at $5000 at precisely two years ago.

These things unfortunately do happen but at least we live to try another day. I hope you get your double digit profits soon 

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

[Caross]

Truly, sad story buddy better luck next time every gambler hard a similar experience in the past just learn your lessons and move on shit happens.

[bitbollo]

you should not blame your self since ... this can happens very often! playing with bonus doesn't really help in these situations.
trading seems easy at a first glance but requires a lot of experience and calm for manage stressing situation. 
btw see this situation as a "trading lesson" despite the missing profit. Next time you will setup a better scheme to achieve at least a small profit

[maydna]

I am sure many of us have almost the same experience as you. We become greedy when we see the profit become bigger, and we do not close the trading instead waiting for more, just expecting that the price will still increase more. If we always remember that the price can't always increase more, we will close the trading and wait for the next opportunity because after the price reaches the high price, it will go down to short the price and make additional profit.

Use that experience as your lesson to get the same experience that will make us lose money. We can use that for our lesson to stay away or reduce the loss for the other member.

[Wexnident]

Eh, as a trader, such experiences should rather be quite normal ngl, since trading is like a black hole for your money. It basically happens all the time, after all, you can't really expect to profit all the time. Might as well move on, though if you're not a regular trader, this could be a good time to think of whether you would continue or not, after all, it is rather difficult to enter the market when you're just going to lose money. Nice little experience, definitely not enough to let you judge it right next time though, so goodluck with that.

[Obito]

you should not blame your self since ... this can happens very often! playing with bonus doesn't really help in these situations.
trading seems easy at a first glance but requires a lot of experience and calm for manage stressing situation. 
btw see this situation as a "trading lesson" despite the missing profit. Next time you will setup a better scheme to achieve at least a small profit

I agree, no sense feeling sad for the money that you never had in the first place, I would move on and let all of it go and keep moving forward, I mean that is the only way in this life, we are coded in a way that we continue to pursue further as long as we live. @bitbollo is right, it might not be the right time to achieve a profitable trade, maybe there is something better at store.

[davis196]

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

This is how you gain experience in trading.You lose money,while you learn...
Using leverage is a great risk.It's more like gambling,rather than trading.You have to resist the inner desire to "leave the table" with your current profits and you have to wait for the right moment to play your cards.
Some traders get overconfident after a few successful trades.They think that they can read the market,until the market punishes them in the end.
I guess that's why crypto exchanges offer bonuses.They want to incentivize risky crypto trading.

[suzanne5223]

Mistake created lesson comprehended. Leveraged trading is more like a gambling game in which the result is just a chance and not guaranteed but one thing is sure you'll never be professional if you don't make mistake, you just need how to learn from it and use it to profit your next trading.
Having said that, also understand the particular trading that's good for you and just trade leverage because of the profit involved.

[RILWAN]

We suffer to learn about things when lessons are learned from mistakes, we grow our experience I believe you will not take such steps again in the future. Just move on better days ahead.

[bitgolden]

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.

Sorry man, it’s not like anyone can be hundred percent perfect when it comes to trading, most of us would have also had the same feelings and even taken the same action like you did when we see the price moving up for long.

So, it’s not like you’re the worst trader there is, everyone makes mistake at times, at least with this mistake that you have made now you might have learned one or two things that you shouldn’t do in case of next time, you shouldn’t be in a hurry to close any position, unless you feel that you’re already satisfied with what you have. So, stop worrying much about what has happened and start looking for ways that you’re going to get back what you have missed.

[AakZaki]

~snip~

Got liquidated soon after.

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

Rip

There may be many victims besides you. Future is attractive but the risk is higher. You have to be really disciplined with your target. Determine your entry point, your stop loss point, and your profit target. One key is not to be greedy.

A few months ago when Altcoins and BTC on the Spot market were unattractive, futures became an alternative. But at this point I was out of it. I chose the spot market for now. Many people show the advantages of the leverage but they are hiding the loss. Maybe if you are still interested in futures after a big loss, maybe you are hooked.

[taufik123]

It is your decision, even though you experience losses due to liquidation, the capital you use is only a bonus from bybit.

this can be a lesson for you, that a good analysis before trading is needed. and most importantly you can adjust how much capital you use. Money management can help in situations like yours, so there will be some backups to turn things around.

[Gozie51]

Whenever you lose out profit that you thought you would have made, you also need to see it the other way. You could have lost totally too and that is the other way. Always be greatful if you have made little profit and that can prepare you for another chance to make better profit as you can choose if the market didn't go off you.

[boyptc]

That's sad whenever someone gets liquidated.

But should you got profit already, you don't have to wait any longer or don't be greedy. Just take out your profit.

[sujonali1819]

Maybe you were not more careful due to it was bonus money. If it would be real one maybe you can feel the upcoming situation if you lose the bet or liquated. Take it as a lesion and follow this on future trade with real money.

To be honest we are not happy with little things every where in our life. Our mind always want something good, then something bigger than good,, bla bla bla....... And for that we are facing such pain booth in virtual o real life.

[tbterryboy]

I do not see these as purely bad things @OP, sure it is not a good thing, who could say that you losing money could ever be a good thing, but I do not see it as purely bad thing neither, there is a silver lining in this. What is that? If you learned that doing these type of things are risky, and you should do a risk management on what you should be doing, that means that you now have more knowledge about the situation and next time you do something like this or you are about to, you will consider everything better and act accordingly.

Do not get scared and never do it, just focus better and make calculations better, something as simple as "it was rising for few days, so I thought it was time for it to go down" is not a good reason to short it, it is not even good enough to make a prediction, but if you learn chart reading better you could make decisions better.

[trigger1975]

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

Sad story?  Sure, I have one too

When I sold 17.95 BTC (1.1 Mio USD today) for ~60 bucks at MtGox as I thought the price will never, ever go higher again.

Well …

[maxreish]

Thats a bad shot. I wonder if you are using technical analysis or not. Since you can see there, whether the market will still rise (to continue your long entry) or will have some corrections ( and do some short entry). Also, 50x leverage has a near liquidation price. Unfortunately, you havent set up stop loss so you may have a chance to re entry a long position with that left fund if you did some stop loss.

Well, better luck next time. We all have some sad stories to tell, but we can recover again with those mistakes that have been considered as a lesson  now.

[libert19]

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

Sad story?  Sure, I have one too

When I sold 17.95 BTC (1.1 Mio USD today) for ~60 bucks at MtGox as I thought the price will never, ever go higher again.

Well …

Holy fuck, that takes the cake (so far)