Shorting lunc (former original luna) and losing 99% assets

[libert19]

This once again proves that altcoins have no bottom and can fall very, very deeply, almost indefinitely, bypassing all kinds of analytical charts, technical analysis and indicators. Altcoins and borrowed funds are a terrible cocktail, which is a prohibitive risk and leads almost always to the same sad outcome - liquidation.

Did you misread? They did shorted but pumps in-between fucked it up.

The system shorted LUNC but got liquidated during the token’s bizarre price pumps along the way

[adaseb]

After Luna and UST collapsed I just stopped trading it all together. Basically a highly manipulative market.

I remember when there was word that Binance will stop trading and a few hours later it said it would relaunch trading and decided to stay out of it. Nothing more than a pump and dump and very volatile.

The funding rates were also crazy from time to time. So you end up taking a high percentage for a trade that is against you.

[Xal0lex]

After Luna and UST collapsed I just stopped trading it all together. Basically a highly manipulative market.

I remember when there was word that Binance will stop trading and a few hours later it said it would relaunch trading and decided to stay out of it. Nothing more than a pump and dump and very volatile.

The funding rates were also crazy from time to time. So you end up taking a high percentage for a trade that is against you.

Any trading inside a panic sale has absolutely nothing to do with trading, it's a real casino. No analysis works during such periods and it is impossible to predict anything. I have seen many people trying to place orders for quick rebound opportunities but quickly catching liquidations or stop loss triggers. Once UST lost its tether, then those 2 tokens were already completely unmanageable.

[milewilda]

After Luna and UST collapsed I just stopped trading it all together. Basically a highly manipulative market.

I remember when there was word that Binance will stop trading and a few hours later it said it would relaunch trading and decided to stay out of it. Nothing more than a pump and dump and very volatile.

The funding rates were also crazy from time to time. So you end up taking a high percentage for a trade that is against you.

Any trading inside a panic sale has absolutely nothing to do with trading, it's a real casino. No analysis works during such periods and it is impossible to predict anything. I have seen many people trying to place orders for quick rebound opportunities but quickly catching liquidations or stop loss triggers. Once UST lost its tether, then those 2 tokens were already completely unmanageable.

People should realize this but they do keep on doing it because they are really trying to push that rebound and long green candles would happen on situations or scenarios like this but as mentioned
that they do rather end up on facing triggered SL's and being liquidated.This is why im not really that fan on following into those listing events or getting myself get caught on these conditions.
You wouldnt know on what would happen but in most cases it would really be into those situations been mentioned above. No analysis or patterns will really work
thats why always presume for most common result or things happen.

[Silberman]

After Luna and UST collapsed I just stopped trading it all together. Basically a highly manipulative market.

I remember when there was word that Binance will stop trading and a few hours later it said it would relaunch trading and decided to stay out of it. Nothing more than a pump and dump and very volatile.

The funding rates were also crazy from time to time. So you end up taking a high percentage for a trade that is against you.

Exactly, during the time in which there is such a huge volatility in a coin it is better to stay away from it, it is true you could miss an opportunity to make money, however during that period of time nothing of what you have learned as a trader or investor is going to work, and as such you will depend almost exclusively on your luck, for those which are terrible traders they may as well take their chances as they may get lucky, but for the trader which has a decent system the risk they will have to take by investing in that coin is simply too high.

[virasisog]

After Luna and UST collapsed I just stopped trading it all together. Basically a highly manipulative market.

I remember when there was word that Binance will stop trading and a few hours later it said it would relaunch trading and decided to stay out of it. Nothing more than a pump and dump and is very volatile.

The funding rates were also crazy from time to time. So you end up taking a high percentage for a trade that is against you.

Exactly, during the time in which there is such huge volatility in a coin it is better to stay away from it, it is true you could miss an opportunity to make money, however during that period nothing of what you have learned as a trader or investor is going to work, and as such you will depend almost exclusively on your luck, for those which are terrible traders they may as well take their chances as they may get lucky, but for the trader which has a decent system the risk they will have to take by investing in that coin is simply too high.

Luna lost its reputation the first time it almost turned into a rug. Lots of investors have lost a lot and have pulled out due to its high volatility. Luna was mishandled and mismanaged by the developers so I believe that the same thing will just happen to Lunc. Once the trust rate and reputation have fallen, everything will also fall out.

[0verseer]

After Luna and UST collapsed I just stopped trading it all together. Basically a highly manipulative market.

I remember when there was word that Binance will stop trading and a few hours later it said it would relaunch trading and decided to stay out of it. Nothing more than a pump and dump and very volatile.

The funding rates were also crazy from time to time. So you end up taking a high percentage for a trade that is against you.

Exactly, during the time in which there is such a huge volatility in a coin it is better to stay away from it, it is true you could miss an opportunity to make money, however during that period of time nothing of what you have learned as a trader or investor is going to work, and as such you will depend almost exclusively on your luck, for those which are terrible traders they may as well take their chances as they may get lucky, but for the trader which has a decent system the risk they will have to take by investing in that coin is simply too high.

Huge volatility or not, if it is for a shitcoins like LUNA (the new one) then almost everyone knew they have to short it from the beginning when it was listed at around $8. Sure, the coin got manipulated as hell especially if you know how much UST the exchanges hold as stablecoin for trade, you will know those exchanges will find a way to sweep the short position. What you need to do is risk manage and make sure they can't liquidate your position easily. So don't be greedy and take 5-10x leverage and make sure you have enough funds to stay away from the liquidation.

[Saisher]

Luna lost its reputation the first time it almost turned into a rug. Lots of investors have lost a lot and have pulled out due to its high volatility. Luna was mishandled and mismanaged by the developers so I believe that the same thing will just happen to Lunc. Once the trust rate and reputation have fallen, everything will also fall out.

Still struggling in the market right now I don't see a good future on their classic version, their developers are not in the wood yet,
it's very tempting to buy LUNC right now because it's very cheap but the supply is very much inflated good for pump and dumps not for a long-term hold, LUNC is one example of a good project gone worse, so it really important to check the mechanism of the coin you're investing and the latest update about it.