A little sad story

[goaldigger]

Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.

We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging, this kind of sad story can improve you emotionally so the next time you trade, you can have more confidence.

[1715045588]

1715045588

[sayaya17]

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.

[Yamifoud]

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.

Depending on how we change our mindset after experiencing those mistakes. Believe me or not, but to find that some mistakes will happen again and again especially when we are emotional traders.
It might say that OP never minds it at first as it was just bonused money and it is not really a big loss on him. yep, it is in a different approach when we are using our hard work money to trade as we are totally careful.

[tygeade]

Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.

But, it seems that OP took risk intensively to give leverage trading a try hence I assume for the case of OP, that was not much painful unlike how many of us are feeling right now. I understand this community because when we have come across many such losses then definitely we can feel how much frustrating when losing money in trading.

We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging

Only when you are gaining experience, you'll become slowly a professional trader. Only for professional traders predicting the market direction accurately will be possible. Until we are becoming up to the state of professionals in trading, probably we must need to face painful losses unless we do not plan up for lower capital and no leverage.

[fullhdpixel]

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.

Sorry about that, you’re not the only one that it has happened, it has happened to a lot of us that are here, there are times that we have made mistakes like this and ended up missing big opportunities that would have earned us a lot of money, and after all that we learnt our lessons and started to do what’s right to avoid that so that it doesn’t repeat again.

What you’re going to do now is to learn from what happened to you and learn to avoid this same kind of problem repeating itself in the future, know what to do to avoid it. If the problem here is that you’re doing day trading while you’re not good at it, then what you’re going to do is to take time and learn it switch long term.

[tippytoes]

Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.

But, it seems that OP took risk intensively to give leverage trading a try hence I assume for the case of OP, that was not much painful unlike how many of us are feeling right now. I understand this community because when we have come across many such losses then definitely we can feel how much frustrating when losing money in trading.

We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging

Only when you are gaining experience, you'll become slowly a professional trader. Only for professional traders predicting the market direction accurately will be possible. Until we are becoming up to the state of professionals in trading, probably we must need to face painful losses unless we do not plan up for lower capital and no leverage.

It will not be his last experience in this trading life. As we don't know what will happen next, we are deemed to opt for choices that may not be favorable afterwards. But the longer that we are in trading, we will pick up some lessons here and there and we can apply it the next time we trade. However, don't expect that you will hit it perfectly. Because even expert traders can make mistakes. Just remember OP, that you are not alone in that kind of feeling.

[Ridwan Fauzi]

Becareful mate, seem like you don't know much about trading strategy especially technical analyst (that I think it is the main factor to get profit espcially in future market) since I see in your statement you just confused about your entry between long and or your position is already short.

Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.

At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.

[Distinctin]

Becareful mate, seem like you don't know much about trading strategy especially technical analyst (that I think it is the main factor to get profit espcially in future market) since I see in your statement you just confused about your entry between long and or your position is already short.

Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.

At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.

That is likely how a trader ends badly when we don't have control of our emotions. I believe that OP has the knowledge about trading but because it was just bonus money, he never cares that much but rather to overspend like no worries if he loses or not. I also experience that also, it wasn't our hard-earned money and we can't desperately feel the losses if ever it happens. But it was normal to feel disappointed and think why I do that? Why I'm too careless? It is all a regretting ends.

[Btcvilla]

When we try to put short bitcoin going up but when we use long position bitcoin going down, but now is bitcoin trend positive with higher price and better to use with short position with your future trading, I think you use bigger lev and maximum until 50x and very risk but exactly your short position during bitcoin still have higher price this extremely risk.

[travwill]

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.

A similar story has 90% of users on this forum. It's stories like these that teach us something. Personally, I believe that such stories exist only so that in the future you will not make mistakes that will cost you significantly more than the story you just wrote. In other words, such stories help us make significantly more money than those stories in which we are simply lucky.

[kram31]

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

I'm sorry about what happened to your sad experienced, what more I can say is learn from your mistakes dude.
I wish and hope this will not happen to you again. But I am pretty your the only person who encountered like this here in
cryptocurrency. But anyway, take this a big lesson to you mate, Have a good day.

[Kelvinid]

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.

A similar story has 90% of users on this forum. It's stories like these that teach us something. Personally, I believe that such stories exist only so that in the future you will not make mistakes that will cost you significantly more than the story you just wrote. In other words, such stories help us make significantly more money than those stories in which we are simply lucky.

This will be going to happen to let us know what could be the result of being not careful to our decision. It is likely having a bad result but in the other side we are also benefiting by its way of learning. Yet to find it hard to be perfect or at least and not to make mistakes again but as we grown and learn from those mistake we are able to adjust any possibilities that will going to happen in the future. At least we know what we gonna do next time.

[MIner1448]

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

The story is, of course, sad, it is hard to keep emotions when the liquidation goes on such sums. But there is no take-off without a fall, this is a stock exchange, many stumbled on this, I think everything will be fine with you, where you lost there and will gain;)

[kpierce77]

Yeah man, honestly this happens a lot. bitcoin fluctuation which I think is pretty crazy makes people sometimes really regret what they have done, even though it's from "free money". I've also had a bitter experience that maybe if I am a little patient and wait a little longer, then I will get thousands of dollars in profit, lol

[Kong Hey Pakboy]

The sad thing here is that you didn't trust that the price will go up but in the end, you don't have to worry about it or regret because what's done is done and I don't think that it will be good marinating in sadness and regret.

[RealMalatesta]

bitcoin fluctuation which I think is pretty crazy makes people sometimes really regret what they have done, even though it's from "free money". I've also had a bitter experience that maybe if I am a little patient and wait a little longer, then I will get thousands of dollars in profit, lol

You do see it like free money but I am seeing this is as failure in  emotion control. Market fluctuations will trick you like it will act like giving you opportunity but most of the times it will ending up as a trap. OP is mentioning about bonus hence he might though to take extra uncalculated risk.

But I would say, even if you are investing your hard earned money and when you are seeing market fluctuations then you will get hyped and then you will take decisions like this. Market fluctuation is really cruel one. Regardless of we are trading for bonus money or our own money, we must always need to stick within our trading plans; any deviation will definitely lead to the results like this.

[cyriljundos]

Thats crypto life sometimes temptation in selling alt coin will kill you. Its a bit stress to those holders when the alt coin price going up we sometimes sell it in a small percentage profit and we cannot hold it for a long time . Lesson learned my friend.

[JohnBitCo]

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

There is no need to repent on the decision. You win some trades and you lose some trades. Right now you have just lose your bonus money, i wonder what will happen if you would have lost your seed money. If you cannot bear these loses then futures trading is not for you. If you are not able to bear the loss, i think you should do only spot trading as the risk in spot trading is less.

[xianbits]

Everyone has experienced their own "sad story", not necessarily in futures trading only but in any other trading markets. Not a reason to give up though.
One thing I learned about using a leverage is that we should set our target profit and set also a stop loss for protection in situations like this, especially with the market situation today, April 18. Greed should be the last priority.
Cheer up man. You can do better tomorrow.

[Issa56]

Lots of people believe trading is kind of easy and is something if you start you will start making money is not like that there are lot's of challenges you have to face when it comes to trading you don't just think you will be making money there are sometimes you will definitely lose that's why you don't have to invest all your funds always trade what you can afford to lose and don't always invest your life savings in Cryptocurrency. The kind of experience you hard is kind of painful and I believe lot's of people that have been into cryptocurrency hard same experience before.