How I lost 80k on Binance.

It was a bright day and I thought it could be a good day for me. Well binance is an exchange 💱 where you can exchange different cryptocurrences and make Cool profit by buying, holding and selling when the price goes up, you can also trade in a real time either by buying long or selling short.

I'm not a beginner in crypto trading nor a professional I'm just a mid class or we call it low class trader but I still manage to make some cool profits 😎

I've been using my binance account since when I first graduated from secondary school and I started thinking about how I'd start making my own money, I'm Glad it worked and it was so cool then and I also stake some coins and get good rewards when the stake is due, there is this particular feature I like on Binance that you can just save and earn money from your savings.

Binance has been a life saver to me I can't lie on that because as a medical student I have a lot of studies and stuffs to get to know and it'll be really hard for me to still go out and work on a daily basis so binance covered that for me, you can also give that a try and I'm sure it'll work out for you.

How I manage my risks is that I never do a trade blindly and I also do my analysis before going for any trade, I also invest what I can avoid to lose but this time it's features trade and guess what ? Features trade is very risky and will definitely blow up your account with all of your savings because it has a leverage and that leverage allows you to trade with amount of money you don't even have in your wallet, for example you have a $69 that'll not be enough for you to buy a whole Bitcoin that's around $44,350 but guess what ? On features trade you can buy 1 Bitcoin with as little as $69 and you can sale it when the price goes higher or lower depending on your trade wether it's buy long or sell short.

So there is this particular money I had that I've been saving all these years, trust me it's the only money I ever had that big my whole life Darn! I ended up losing everything!

I used a very high leverage which I know myself is very risky and traded with it, I was also on cross and not isolated, I did all the analysis I need to do and I went on to take the risk, I don't really know what happened and when it happened I felt so bad and I thought I'd never be able to get back on my feet again or make such money because I thought I've already gone that far with my savings.

I was in a position of profit at first and I thought it'll be a good decision to stay in Position for a little longer as I'm still making more profits forgetting to check the candle sticks and see what's really going on with the trade, Darn and I didn't place a stop loss order 😂

I didn't know what got into my head and that's how I ended up losing all of my savings from 2019 to date.

I'm going to start a fresh. Seriously I'm so down bad that I can't imagine how I can still get on my feet and recover all of my loses its really going to be hard.

I went to a friend today and meet him in the other state with the intention of selling my medical text books but then it failed because they price them so lame, a text book I bought for 10k was price 3k and it's not so much used because I don't even use them to study. This is my Country!!! Now I took back my books with me.

We also went to where I can sale my phone and they priced it 25k a phone I bought for 35k so the loses will be very much and I'd stay down really bad if I sale my phone without getting another one.

It's really a bad weak and I can't even imagine how it all happened in short period of time, like now all of my savings are gone ? Wow I still wonder seriously.

Been saving from 2019 till date and it's all gone now for a single trade.