bhadz
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December 12, 2023, 11:53:56 AM |
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Still monitor your leverages because the market is tricky. While the emotions are high, don't go along with the other traders that are putting a lot of leverage. 10x of leverage is already a lot and you have probably just caught off guard because you thought that the bulls have arrived already but not yet. Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
Yes, this is a safer approach if someone's just want a safe leveraging although leverage is not safe at all so I should mean by that with a lesser risk approach and tolerance.
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traderethereum
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December 12, 2023, 12:20:26 PM |
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Trading the future is very risky and requires precision in analyzing the market. If you want to play it safe in future trading, using 2-4x leverage is good and the amount of money is not too large. I also use leverage below 10x because if it is above that, it could make me rush into making decisions. If the market movement is good, it's okay to use large leverage above 10x, but we also have always to monitor market conditions so we can make immediate decisions. What is important in trading the future is how we determine when to enter and exit the market and not be too greedy in taking profits.
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avikz
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December 12, 2023, 05:47:39 PM |
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
I would say the entire concept of leverage is very risky. While you are doing day trading, invest what you have and do not borrow money from your broker. Even though your loss is limited to the money that you are actually holding, but with leverage you are taking additional risk of liquidating your entire principle amount. I used to day trade but I have completely stopped because I have lost a good amount of money. Leverage made my position worse. So try to stay away from leveraging money and multiplying your risk at the same time.
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Dr.Bitcoin_Strange
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December 12, 2023, 10:42:14 PM |
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The cryptocurrency market is not something that anyone can predict 100% accurately. Even at the very moment when you think that you have seen a perfect position to enter your trade, at first you will feel convinced with the price going in your predicted direction, and also because of FOMO, which leads you to increase your leverage and get stuck in the middle of the trade, which can cause you a very sharp liquidation. If you have actually been trading for a while now, then this might not be your first time having this kind of experience, but in trading, sometimes too, you just have to take the risk knowing what the reversal result could be. If you are in a situation where you feel you should increase your leverage, you could enter two positions at once, one on the opposite and reversed side, but your investment should be high on the side that you feel more convinced about.
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Zigabel
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Duelbits.com
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December 12, 2023, 10:58:44 PM |
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
Don't allow your self get greedy, stick to your strategy and stay disciplined, gradually you could build that portfolio to the desired amount you Wish but if you are in a haste you get your fingers burnt and most definitely loose your account, so it's important you stick to your strategy and stay disciplined so you don't liquidate your account in no time. It's really important people understand the concept of discipline and staying true to your strategy. If any trader can be patient enough while staying disciplined and true to their strategy, most often their trades will turn out a winner than it does go against them but most newbie traders lack these qualities and it makes them loose their funds to the market and end up giving up on trading.
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TopT3ns
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December 12, 2023, 11:22:20 PM |
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The cryptocurrency market is not something that anyone can predict 100% accurately. Even at the very moment when you think that you have seen a perfect position to enter your trade, at first you will feel convinced with the price going in your predicted direction, and also because of FOMO, which leads you to increase your leverage and get stuck in the middle of the trade, which can cause you a very sharp liquidation. If you have actually been trading for a while now, then this might not be your first time having this kind of experience, but in trading, sometimes too, you just have to take the risk knowing what the reversal result could be. If you are in a situation where you feel you should increase your leverage, you could enter two positions at once, one on the opposite and reversed side, but your investment should be high on the side that you feel more convinced about.
It is very simple to understand the price of cryptocurrency on the exchange. When the price goes up, I prefer to stay put, or when the price of the asset you own goes up, you have to sell it, because if you buy more, it will make you trapped at a high price, and you could say that it is affected by FOMO. You must remember that the correct way to trade is to buy when the price is cheap or when the price is red because many people sell it at a low price, and after it returns to green, that is the right way to make a profit by selling at a high price.
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terrific
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December 12, 2023, 11:56:37 PM |
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Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
Well, decent words. Those that have their lessons as well will simply just stick to the strategy and threshold that works for them in future. But to me, I won't get on it anymore, spot is good and safer on my side. And it's not that bad with your x that you put up. We usually learn from the mistakes we do but it's a good experience to put up that high leverage, right?
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mirakal
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December 12, 2023, 11:58:54 PM |
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
10x leverage is not safe anymore. Even how positive you are with your trades, there is no guarantees that the market will favor your direction. 2-4x leverage is still risky, but that is way safer than going 10x and ends up with visible losses as well. But with greed, we all come to wrong decision making that will also give us lessons as well. The more we lose, the bigger lessons these losses will provide us. Leverage is not safe as always especially if you are still in the learning process. But sometimes we need to take leverage to increase profitability as well, some might be lucky while others end up blaming theirselves because of their uncontrollable greed.
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libert19 (OP)
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December 13, 2023, 03:59:07 AM |
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I would say the entire concept of leverage is very risky. While you are doing day trading, invest what you have and do not borrow money from your broker. Even though your loss is limited to the money that you are actually holding, but with leverage you are taking additional risk of liquidating your entire principle amount.
I used to day trade but I have completely stopped because I have lost a good amount of money. Leverage made my position worse. So try to stay away from leveraging money and multiplying your risk at the same time.
I don't day trade, I open positions and leave them, I've been successful with it, but I stick with 2x-4x normally while here, I went 10x due to fomo, and that makes liquidation price close so what happened, happened. It was my lack of analysis, and following the herd, that caused this happening.
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Assface16678
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December 13, 2023, 07:37:29 AM |
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I would say the entire concept of leverage is very risky. While you are doing day trading, invest what you have and do not borrow money from your broker. Even though your loss is limited to the money that you are actually holding, but with leverage you are taking additional risk of liquidating your entire principle amount.
I used to day trade but I have completely stopped because I have lost a good amount of money. Leverage made my position worse. So try to stay away from leveraging money and multiplying your risk at the same time.
I don't day trade, I open positions and leave them, I've been successful with it, but I stick with 2x-4x normally while here, I went 10x due to fomo, and that makes liquidation price close so what happened, happened. It was my lack of analysis, and following the herd, that caused this happening. Well, it serves as a lesson for everyone who could see your experience and story, but you are not alone. I'm sure there are more traders or holders out there who experience this. Because of the hype and anything about the bitcoin bull run, many investors are influenced and become wary of their holdings. Also, some take more risk by, like what happened to you, buying more bitcoin or trading bitcoin with high leverage, which is too risky. The lesson here is: don't easily believe in what you see on the internet or in this forum. Yes, the bitcoin bull run may come and go, but the thing is, there is no exact date or time. You admit it; you lack analysis. That's why it's very important to analyse first before doing something, as a bitcoin investment can cost you a lot. Also, what you see in this forum about bull runs or such, don't let your decision or analysis be affected by that; stick with your plan.
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BitcoinTurk
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December 13, 2023, 11:13:36 AM |
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Although the 10x leverage ratio isn’t a ratio that poses too much risk, it wouldn’t be wrong to state that it carries a higher risk especially during periods when the markets are volatile. Especially as someone who uses 2-4x leverage under normal conditions, using 10x leverage has also increased the risk threshold under normal conditions thus potentially increasing the possibility of loss. On the other hand, the fact that the position was completely liquidated unfortunately caused you to gain an expensive experience that high leverage shouldn’t be used.
Additionally, not using the stop loss order has made you experience that in leveraged transactions when high leverage isn’t used it can cause very serious losses. As I always say, using stop loss is a required especially in leveraged transactions and it is a must in positions with high leverage.
With this liquidated position you have experienced and learned again that you shouldn’t use high leverage especially during periods when the market is very volatile and that if you do, you should set the stop loss price.
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Wind_FURY
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December 13, 2023, 04:23:27 PM |
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
The market is in a state of "mania", and that usually doesn't end well for the trader who allows himself to be "conquered" by those feelings of mania and euphoria. Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
It's not greed, it's FOMO. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) I believe that sometimes we should question if the market is truly in a bull cycle, or if the surge is merely an echo-bubble. Because with the current macro-economic conditions, could we truly say that we are "in a bull market"?
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tjtonmoy
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December 13, 2023, 04:36:03 PM |
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Why is it always that people only enters the market when it is all green? They never understand that whatever goes up comes down as well. It's all FOMO. There are many opportunities out there. What if you miss one or two opportunity, you will always get another in the future. This is what people don't understand.
The market is moving crazy and it could be good for traders. Because they make profit out of the volatile nature of the market. But it is also important to know when to start and when to stop. When the market is crazy like this, it is better to do sport trading. You will always face the risk of getting liquidated. So do something that will not put you in that position. Or use low leverage to be on the safe side.
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pawanjain
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December 13, 2023, 04:40:01 PM |
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That's the greed which made you take the extra leverage and the bad luck that made you lose your money to your greed.
I get your point and where you're coming from but reading your reply made me ask questions. Is it really greed though? I mean, he followed his analysis and rightly so, it just turned out to be wrong. If you saw him making that decision yesterday would you have stopped him? Because to be frank, it wasn't a very stupid thing to do. Bitcoin price kept pumping, one would think it was chasing $50k before the end of the year, and then all of a sudden. So can you blame him for that and call it greed? OP usually goes for a trade with 4x leverage and that is his strategy but then he thought that the market is bullish and he wanted to earn more. So his greed kicked in and because of that he changed his usual strategy and took a higher leverage. OP himself agrees to the fact that we should stick to our strategy and not change it because of greed. Stick to your strategy because that's what you have planned and you shouldn't change it out of emotions.
Good advice, but how long do you stick to your strategy even though changing strategies may take you higher? "The bigger the risk, the bigger the reward" isn't it? So how's he going to get a big reward if he doesn't want to take a big risk? I know he should not go beyond what he's ready to lose but isn't there a thin line between taking calculated risk and investing more than you're able to lose? Changing strategy is not a bad thing. In fact, we should learn from our mistakes and keep updating and improvising our strategy. That makes us better but then if we have decided a strategy then we should follow that and not change it because of our emotions. There's a slight difference between the two.
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AakZaki
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December 13, 2023, 06:09:31 PM |
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10x leverage is not safe anymore. Even how positive you are with your trades, there is no guarantees that the market will favor your direction. 2-4x leverage is still risky, but that is way safer than going 10x and ends up with visible losses as well. But with greed, we all come to wrong decision making that will also give us lessons as well. The more we lose, the bigger lessons these losses will provide us.
Leverage is not safe as always especially if you are still in the learning process. But sometimes we need to take leverage to increase profitability as well, some might be lucky while others end up blaming theirselves because of their uncontrollable greed.
Leverage must be used wisely, because if it is used uncontrolled it will make losses closer. but those who are lucky will certainly get more profits. especially using X100 leverage, it will be an extraordinary profit especially using a lot of bets. but this seems to be no different from gambling when you force yourself to use high leverage, because there is a very high risk of losing everything.
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kentrolla
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December 13, 2023, 08:53:40 PM |
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Sorry for your loss, I know how it feels as I have made similar mistakes in the past but as long as we take this as a learning curve or a lesson learnt hard way we can still earn it back at the right moment of you have a strategy.
I have to share just two things as follows:
1. Never go for more than 2x leverage for any Altcoin as the chances of winning are lesser compared to losing since we cannot control greed at certain point of time and end up losing it all whatever we have earned little by little.
2. Even for Bitcoin you cannot used leverage of 10x, as per my understanding we can take a maximum of 4x leverage in Bitcoin.
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goaldigger
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December 13, 2023, 09:32:52 PM |
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Futures are risky and if you don’t have the stoploss, you’ll be liquidated for sure as the market remains unpredictable. Its bullish yes but you don’t have to be greedy, stay within your limit and enjoy the bull trend slowly but surely.
FOMO is normal but if you act greedily, you may not be happy with the possible result of it. Don’t rush in the market, there’s still time to accumulate and when you do trading, its better not to rush things and just enjoy analyzing the trend while making your positions.
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borovichok
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December 13, 2023, 10:25:27 PM |
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Futures are risky and if you don’t have the stoploss, you’ll be liquidated for sure as the market remains unpredictable. Its bullish yes but you don’t have to be greedy, stay within your limit and enjoy the bull trend slowly but surely.
FOMO is normal but if you act greedily, you may not be happy with the possible result of it. Don’t rush in the market, there’s still time to accumulate and when you do trading, its better not to rush things and just enjoy analyzing the trend while making your positions.
Future is risky and now is our time to settle and pursue on our aims. Taking chances should be the slogan for the majority of these traders, they don't give up so easily; everyone wants to reach the pinnacles of their destiny. The bull market does not last long because of market volatility, and we prefer to make things simpler for ourselves by trading in good entries rather than the other way around. Most investors in the market are afraid of missing out, thus they want to be very active without adopting the necessary tactics that should be applied.
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Stake VIP wager
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Jegileman
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December 13, 2023, 11:23:57 PM |
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
Greed is something attached to the human mind and it can’t be easily taken away from them easily. You that have been trading for long has the ability to control your emotion, greed and any other influence that can lead to loss of your money when not taken cautioned of during trading. For a beginner and inexperienced trader, they will always fail at this and won’t stick to the 2-4x leverage. Experience is the best teacher, many are meant to learn from experience and this warning won’t even move them until they fall victim of it before they can learn from it.
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GreatArkansas
Legendary
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Activity: 2422
Merit: 1370
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December 14, 2023, 02:14:10 AM |
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I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Me too, but I was not liquidated, only stop losses were hit in my multiple trade position. It's fine already because if I didn't put stop-losses those trades would be liquidated somehow. And now, the market is pumping. Trading is really difficult. That's why everything is possible to happen.
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