I mistakenly left a position opened until I woke up

[Oshosondy]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

[Wiwo]

Yes I remember when I did this kind of mistake but in my own case, I opened the position on 10x leverage and with a position open at $70, I opened the position around 10pm and I sleept off around 12am before I slept off I was at a lose of $20 but when I woke up around 3am I was so surprised that I made a whooping gain $570 which I immediately closed the position.

I was happy for that because that was my most luckiest trade for a long time, but in your own case you where just unlucky for that position, but then you lose was not much so it is what it is, move on bro.

[tranthidung]

Sorry, what's this?

Minimum trading order size on exchanges usually is $10. It was $10 on Binance but they reduced it last year to $5.
Details of the adjustments on Binance in August 2023

Here you are saying your story with profit, loss about $2, I am confusing honestly. How did you trade with order size smaller than $5?

Or if it includes your capital that is probably not too big with unrealized profit/ loss too small like you said. Assume you have $100 trading capital, and unrealized profit at $2, will you actually get profit after closing your position, I guess not; but it's good if you can close all positions before sleeping.

[Coin_trader]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

This happened to me a lot of times when I’m still active on futures trading. It’s common to forget some of your positions since futures and spot trading has different categories while exchange usually open spot marker in default.

There’s a time that I’m already 100%+ profit before I sleep then waking up that my position is already liquidated due to the volatility of the token I’m trading. That time I still don’t use stop loss and take profit since I’m still naive on trading.

I never touch futures again after many loss on this bullshit type of trade.

[Oshosondy]

Sorry, what's this?

Minimum trading order size on exchanges usually is $10. It was $10 on Binance but they reduced it last year to $5.
Details of the adjustments on Binance in August 2023

Here you are saying your story with profit, loss about $2, I am confusing honestly. How did you trade with order size smaller than $5?

Or if it includes your capital that is probably not too big with unrealized profit/ loss too small like you said. Assume you have $100 trading capital, and unrealized profit at $2, will you actually get profit after closing your position, I guess not; but it's good if you can close all positions before sleeping.

You can trade with small amount of money if you use leverage. Assuming the minimum you can use to open a position is $10 and you have $1, you can go 10x leverage to open the position. It worked on Binance. Using leverage is risky though.

There are exchanges that you can trade with less than $5. I have done it in OKX and Bybit before. But I noticed Bybit is now selecting coins which you can buy or sell with little amount. I remember I bought coins of $2 on Bybit before and the order was filled.

But you did not understand what I was talking about

I was referring to my profit and loss. I used $250 to open the position but it was less risky.

[livingfree]

I've seen people waking up with the notification on their phones from the app/exchange that they use that they've been liquidated.

Fortunately, it never happened to me because I'm always aware of what I trade and I don't put up a trade when I'm already sleepy.

Good thing for you OP that it's not that much that you've got that loss. Because if it's like a hundred to thousands, then for sure that it's hard to accept that loss out of your sleepy head.

[Churchillvv]

I haven't experienced it before not I'm I even close to experiencing it but I'm certain that I do hear a lot of stories of how people loss a lot of money for just this single mistake and yours, you are very lucky you lost just a little maybe because the coin you choose wasn't too volatile as others, because severally all the stories I have had has been that they lost everything before they got to realize their mistakes or close the position.

I think it's very important to look at every details or your trade before you end it for the day because it will surely become a catalyst to regular losses if you don't examine them before you go to bed.

[stomachgrowls]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

We are humans and it would really be that just that prone to mistakes and its normal for it to be committed out, the thing here is that on the time that you've seen those mistakes then try out to balance it out
with some other aspects. We would really be missing out some money making opportunity and this is why on the moment that you do make out those realizations then you would really be eventually be able to
realize that this is something that you must do. Good thing that you have seen those open trades for not too long. In could really be just that only two possible actions on which whether that dude
had been on their own home successly, or you are currently doing this for the sake of supporting your trading careet, but well basing up then it wouldnt really be good that much.
This is why it would really be always idea on trying out to check everything whether there would really be some pending trading or not on which we know that people would really be that
becoming that oo resilient just because you are really just that making yourself having that kind of metter.

[SmartGold01]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

The major thing that causes this is when you are very tired and much task surrounded you and again as you said opening several trades can actually make you forget about to close some before exiting the market, if you couldn't remember then you have to entirely what you are trading against with, that is why trading needs attention and being focused otherwise you would end up losing entirely. Actually 7.45$ worth meaningful amount while equating to our local currency and I wouldn't do such mistake not to close my trade before falling asleep, though you can watch the market to know if you would recover back before closing trade.

[Franctoshi]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

This can happen to anyone, I have lost money as a result of this and mine happened in two ways the first one was a profit, I entered a Bitcoin trade with a high leverage of 20X leverage, I can't even recall how imaged to forgot and left the trade even without putting a stop lose, Then I woke up that very morning and saw that I was having about $30+ in profit,  whereas the last one which I lost money was $17.

[EL MOHA]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

This has happened multiple times, in fact if you’re some that trades with different exchanges you’re bent to experience this type of thing. The easiest way one usually get into this is when you set limit order and you got busy outside the exchange or even sleep there’s a chance that the order will trigger and without notice you will be in the trade and could go a wrong way. Sometimes I intentionally Leave my order before going to sleep and the next morning I usually forget it except I check the exchange. That’s why I sometimes love if my order is picked i should get a notification but the exchanges I use do not send them.

One key thing that has helped a lot or saved me from liquidation even if I leave my trades open is the stop loss, people who do trade without stop loss are people I fear for if they get their trade running without their notice.

Here you are saying your story with profit, loss about $2, I am confusing honestly. How did you trade with order size smaller than $5?

Or if it includes your capital that is probably not too big with unrealized profit/ loss too small like you said. Assume you have $100 trading capital, and unrealized profit at $2, will you actually get profit after closing your position, I guess not; but it's good if you can close all positions before sleeping.

Yes there are different exchanges with different policies. I don’t know for binance because I am not so conversant with his future trading but on Bybit the unrealized profits that is showing is the amount you’re profiting on that trade with the charges excluded, if you the charges was like $3 and the unrealized profits is $2 it wouldn’t be showing that but rather a loss of $1. So the unrealized profits for some exchanges are usually values after charges

[Oshosondy]

Yes there are different exchanges with different policies. I don’t know for binance because I am not so conversant with his future trading but on Bybit the unrealized profits that is showing is the amount you’re profiting on that trade with the charges excluded, if you the charges was like $3 and the unrealized profits is $2 it wouldn’t be showing that but rather a loss of $1. So the unrealized profits for some exchanges are usually values after charges

I have traded on Binance, Kucoin, HTX, Bybit and some other exchanges. They are almost the same thing in the ways they are charging trading fee.

Example is if you are having unrealized profit of $2 and the close fee for the position is $3. The PnL would be $3. It is when you close the position that you will notice that you have list $1 plus the opening fee instead to have made a profit of $3 but the fees took the profit.

I just use that as an example but it is good to know that not only the closing fee would be charged, the opening fee is also charged.

Although trading with $250 would be of low fee.

This is an example which you can see the fees which I also use $250 for to gamble on a shit coin:



That is a shit coin. Be careful.

[Jegileman]

I did not know how I forgot last night to close the position of the coin I selected. I thought I have close it until today when I saw that I was losing $3 already. I still did not know what was going on until I saw the position opened which has unrealized loss of $7.45 already. If I remember correctly, I had unrealized profit of $1.5 on it before I forgot and slept off..

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

This can happen to anyone, I have lost money as a result of this and mine happened in two ways the first one was a profit, I entered a Bitcoin trade with a high leverage of 20X leverage, I can't even recall how imaged to forgot and left the trade even without putting a stop lose, Then I woke up that very morning and saw that I was having about $30+ in profit,  whereas the last one which I lost money was $17.

It can go both ways, you can either lost or gain from an order already triggered without putting take profit or stop loss on the trade. I don’t know how you guys can forget a trade already running then sleep off or just forget about it totally. Whenever I’m on a trade, I even don’t feel sleepy and all my thoughts will be on that trade whether I’m going to profit from it or get a loss from it. It may not be same for you guys but I feel it has to still do with emotions and how well you can have confidence in your trading to either go both ways and you won’t be pained. The other part of it that makes me feel so is the risk I’m willing to take, if it’s not too certain to risk that amount and want to just scalp the trade, I will remain there and watch the charts to look for the perfect time to close immediately.

[Issa56]

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

The last time I opened a position and I forgot to close it, I lost everything because I got liquidated. The funniest part was that I didn’t sleep, I was doing something, I was thinking I closed my position before closing the exchange app, but I didn’t. Later, I just received a notification on my gmail, and I decided to check, but I noticed that I was liquidated. I was pained because I never expected that, and I already had plans for the money, but everything was gone, and my plans didn’t just work out for me. So we just have to be careful always, and whatever we are doing, we should always make sure we double check it.

[Rruchi man]

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

Any trader who opens multiple positions will always be at the danger to face this sort of risk. it is one of the learning experience that someone has to know as a risk involved with opening multiple positions. The awareness of this will help a trader stay cautious.

Let me ask though, if you had found the position you left open in profit, would you not have been glad?

[logfiles]

Has this happened to you before as a trader? I opened multiple positions but at different times yesterday which I think would have been the cause of it.

It has happened to me some few times.

In fact, there is one Luna short Position I forgot for weeks on Binance before the crash. I only got to know about it when I got a notification after the Auto_deveraging Engine closed my position during the drastic Luna crash 
It was my first time to understand how Auto Deleveraging works and why it is necessary, though it felt unfair to me because Luna continued to even crush furthermore.

[TastyChillySauce00]

It happens quite frequently even more so if you have so many positions going all at once, but I think you can pretty much see the positions overview in the exchange mobile app before sleep just to make sure that you don't have unintentional open positions.

this is why I also always move my money from the margin account to funding and just left whatever is necessary, the risk of being liquidated just because I forgot is just not worth it. just imagine opening position with 100x leverage and forget to have a stop loss, then suddenly market turns for the worst, our $100 margin could literally drain $10k that we have in just overnight .

that's the horror of not taking care of margin account properly.

[Oshosondy]

this is why I also always move my money from the margin account to funding and just left whatever is necessary, the risk of being liquidated just because I forgot is just not worth it. just imagine opening position with 100x leverage and forget to have a stop loss, then suddenly market turns for the worst, our $100 margin could literally drain $10k that we have in just overnight .

Trading with 100x leverage is highly risky even for bitcoin. It is one of the worse thing a trader can do.

that's the horror of not taking care of margin account properly.

If someone can forget this, it is also possible the person can forget to move his money from the derivative or margin account to spot or funding account.

[mirakal]

Perhaps, it is a common mistake, especially when we are tired and out of focus. Sometimes I could say thank God it was just $1 lost, and sometimes, I was too lucky as I earned huge, lol. I couldn't remember how many times I made this mistake, but I already learned that we need to leave our trade open. 

If we trade old coins, it never makes us worried, as we can still recover our losses. But if that is a new coin, we should be careful and try not to commit such mistakes because leaving it open even for just an hour might be a reason for big regrets. 

Maybe it was difficult to keep safe, but at least we double-check our trade as much as possible. 

[tbct_mt2]

Perhaps, it is a common mistake, especially when we are tired and out of focus. Sometimes I could say thank God it was just $1 lost, and sometimes, I was too lucky as I earned huge, lol. I couldn't remember how many times I made this mistake, but I already learned that we need to leave our trade open.

As a professional trader or at least careful trader, we need to proactively and carefully defend our trading capital. It's our biggest task in trading, defend the original trading capital against loss. If we can defend our capital, we always can have many other chances to open other trading positions and get profit.

If we by whatever reason fails to defend our original trading capital, lose it small or big, we will have bigger task to firstly recover our trading capital to original one and after that chase for profit again. This means if we can defend our original capital, we will have better task, less pressure in our trading career.

Losing original capital is the worst thing for a trader and it's the same for an investor.