Perps trading or straight-up gambling?

[Luchtballon]

Decided to try trading perps

Turned $20 into $320…
then round-tripped it back to $23

Honestly feels more like a trip to the casino
https://ibb.co/sdZqN7BC

[dimonstration]

Decided to try trading perps

Turned $20 into $320…
then round-tripped it back to $23

Honestly feels more like a trip to the casino

That’s the price you are paying on trading perps with high leverage. You are literally gambling with that high leverage trading and worst if you didn’t enjoy what you are doing with high risk involved.

At least on gambling you can be entertained on the games you are risking your money unlike on high leverage perps that you are just looking at the candles since volatility on crypto is very high and will easily wipe your position with just a sharp movement.

[Stepstowealth]

Decided to try trading perps

Turned $20 into $320…
then round-tripped it back to $23

If you were able to convert $20 into $320 with a very low leverage, then that is very good trading and not gambling, but if gained that much profit and lost so much also from using a very high leverage then what you've done is no different from gambling. There is a very high volatility with perps, if you must be profitable trading there, you must learn to measure your risk, practice risk management which includes not using a high leverage. When you begin to follow proper trading principles and steps, then trading will feel more like trading than gambling.

[BitMaxz]

If you were able to convert $20 into $320 with a very low leverage, then that is very good trading and not gambling, but if gained that much profit and lost so much also from using a very high leverage then what you've done is no different from gambling. There is a very high volatility with perps, if you must be profitable trading there, you must learn to measure your risk, practice risk management which includes not using a high leverage. When you begin to follow proper trading principles and steps, then trading will feel more like trading than gambling.

Based on the image he is not using low leverage but 25x to 40x.
The problem is he is too greedy; he already made $320, but still he didn't take the profit that's a total gamble. If you actually didn't know what you were doing, if you compared it to the casino, you would still need to wager before you could withdraw, but that's a clean $320 minus trading fees and fund fees. It's already 16x the amount he risks.

@OP, it's still different from the casino. Actually, you can't just immediately make $320 in the casino unless you are lucky. Next time, prioritize your profit over letting the market take your profit.

[Alphakilo]

Decided to try trading perps

Turned $20 into $320…
then round-tripped it back to $23

Honestly feels more like a trip to the casino

I understand the feeling and I must say you have to work on your emotions and risk management skills in order not to feel as if you failed at trading activities. If you didn't try it, you won't be better than some here who have no practical experience from trading and the action of taking that first step to turn $20 into $320 can be replicated, but this time, to a successful end. How do you think professional traders are made?

[Stalker22]

Decided to try trading perps
~

With that much leverage, a 1% move against you wipes out your gains.  You werent "trading perps," you were playing Russian Roulette with your money. 

The loss of everything shows that there is a complete lack of discipline.  How can you have a 1,500% gain and not have taken any money off the table at all?  You were not "unlucky", you just did not use your brain.

[JeffBrad12]

From $20 to $320 then from $320 to $23 sounds like you become overconfident which resulted in overtrade and your round tripping is because you make a bad decision as a result of that.
It's not the perps trading that is the problem, it's usually the user.

If you've earned that $320 profit, what stopping you from securing the $300 and use the $20 again to build up the same profit again over and over. You will eventually become rich doing that and it protects your capital.

[Abu-Naim]

Decided to try trading perps

Turned $20 into $320…
then round-tripped it back to $23

Honestly feels more like a trip to the casino

With high leverage it can be like casino you are referring to because it is as if you are gambling because you are aiming too big within short period of time which is very risky and will easily get you liquidated or lose huge amount of money within short range of time.

After turning $20 into $320 as you said, you could have taken at least $200 as profit and use the remaining money to trade, but with the way you explained this, it is the same as you don’t have risk management, you should have taken partials and maybe adjust your trade and any outcome will not affect your capital that much.

[Dr.Bitcoin_Strange]

Learn to take profit, don't be too confident to believe that since you have succeeded in making a huge profit that you can't go back to zero balance. Since you started with $20, you would have withdrawn at least $200 or $300 and then start with the initial capital, if you can do that for multiple times, then you will master disciple and how to manage your trading funds. Trading is risky just as gambling but if you pay attention and learn well, you will make more profit from trading.

[tvplus006]

...Honestly feels more like a trip to the casino

Risks are present both in gambling and trading, and the higher the risk, the higher the profit and, accordingly, the closer the loss of the deposit. After all, you can only rely on luck in a casino, unlike in trading, where the result depends on your knowledge and experience.

[FinneysTrueVision]

Getting 16x returns isn’t very impressive when you only had $20 to begin with. Try doing it with $20,000 instead if you’re brave enough. Trading with high leverage can bring life changing returns, but it can also wipe you out very quickly.

You should have also provided proof. This looks like you might be trying to shill that perp DEX affiliate site being promoted by several newbie accounts. If your story is real, then your trades would be recorded on the blockchain.

[MarjorieZimmermanGinger]

Decided to try trading perps

Turned $20 into $320…
then round-tripped it back to $23

That's the risk we must accept when engaging in futures trading with high leverage because not everything goes according to plan and sometimes we lose everything without using a stop-loss. Without risk management skills, it's no different than gambling, even though we know that trading is different from gambling. Even in gambling, it's impossible to make $320 easily unless you're lucky which is why you need to be a little careful and not greedy to be more in control.

[LastKiss]

At least you still made a $3 profit in the end. If you use high leverage, trading can feel like gambling, but with low leverage and proper stop loss management, you can apply various strategies. Round-tripping in trading is not a surprise, as many people experience it. Just don’t be greedy next time, you should be able to reach $320 again if you’re disciplined and patient enough.

[Dechris_08]

Turned $20 into $320…
then round-tripped it back to $23

Perps feel like gambling when risk management is missing.

The moment position size and exits aren’t defined, leverage just amplifies luck and emotion.

With rules, it’s trading; without them, it’s basically a casino with better graphics.

[michellee]

That is what happens if you still chasing the profits. You will not realizes you already made a big money. You can't accepts the amount so you wants more. You needs to understand when you stops trading.

You already profits $320 and that is a lot. You can stops trading and enjoy the profits while take a break to calm yourself.

It is a lesson you gets from trading so you must not repeat the same. Trading have risks so you must avoid the big risks and just accept your profits. You can back to the market when you are ready.

[Gozie51]

Turned $20 into $320…
then round-tripped it back to $23

When you get up there again, don't throw stones hehehe. You probably got too over confident and decided to try new stunts. This is what usually happens when you don't take a decision to stay focused to what helped you climbed there. So I believe you used high leverage to try bigger profit but you know when you do that you are also putting your account at risk. Although high leverage isn't bad but you also have to know how to use your stop loss. If you had used it, you can mitigate your loses before you run it down back downstairs 

Well you can get it back on since you built it initially but remember not to trade like gambling. Calculate your lose even before you execute a trade.

[AmoreJaz]

That is what happens if you still chasing the profits. You will not realizes you already made a big money. You can't accepts the amount so you wants more. You needs to understand when you stops trading.

You already profits $320 and that is a lot. You can stops trading and enjoy the profits while take a break to calm yourself.

It is a lesson you gets from trading so you must not repeat the same. Trading have risks so you must avoid the big risks and just accept your profits. You can back to the market when you are ready.

That is the dilemma of most traders, they won't stop up until they already lost it all, just like in gambling. Be conservative and at least find a way how to separate some funds that you can use for other things. Trading is quite risky also especially if you are not very familiar with the coin you are getting involved with.