Copy Trade. How to lose $96.57 USDT in the blink of an eye

November 9, 2021. No. 61

Today's article was going to be very different from this one, but perhaps life takes us through mysterious places and makes time more complex for you, that you cannot write your article before, and while you are writing it at last, late, then the thing happens. unexpected. You check your Copy Trade account in BitYard and see that everything is in red and that you are losing - $75 USDT.

I have always heard a phrase: "He who is born to be poor, no matter what he does, he will always be". It turns out that a few days ago I received my $125 USDT in BitYard for getting 2nd place in the contest that @PVMihalache launched in # Club1BCH, sponsored of course by BitYard. Everything was rosy. But then the idea of ​​doing Copy Trade occurs to me. I initially followed 2 traders, Borottrade and Borottrader, later add JackSparrow. Here are the statistics for the first two.:

BOLOTTRADE – 20 USDT

Trading Days: 303

30D Total Trades: 120

P/L Ratio 30Days: 2410.09%

Win Rate 30D: 62.33%

Profit Rate: 4829.42%

BOLOTTRADER – 50 USDT

Trading Days: 300

30D Total Trades: 84

P/L Ratio 30Days: 535.26%

Win Rate 30D: 84.52%

Profit Rate: 263.57%

I don't want to make the story too long, because I don't really feel good at all. Obvious is not something I like to talk about, but I promised to tell you, whatever the outcome. I was willing to lose about $75 USDT, but a bad configuration and a losing streak from the Bolottrade trader made me lose $96.57 USDT in just a few days.

Today when I enter the account I see that he had opened 5 operations, but less all like this:

BTC / USD

Open: $65,000

TP: $55,000

SL: $68,000

It seems like it was a bad day to do it. The BTC ended up touching $68,000 USD and obviously, the operations were closed, taking all my money, and that of many more.

The mistake made was the following: When copying the trader, I thought that he only used the amount that I had put, that is: $20 USDT in his case. But at the bottom, it says Daily Copy Margin, and I leave it at 12000, which means he can open 12000 orders from me with $20 USDT on each of them. So, I thought that only user $20 USDT, actually had access to my entire account, due to that bad configuration. He opened 5 orders, so when they all went red, so did I. In addition, he opened them all in the BTC / USD pair, so there was no other choice, it was either all or nothing.

By the time I figured out how to close the orders myself, I was at a loss. But the BTC still did not reach $67,600 USD. But in the blink of an eye, he went to the moon with a huge green candle and crossed the $68,000 USD, and there it was all over.

Right now I have what is on hold, and I am not going to pass them to BCH because right now it is very high too, and I prefer to wait for it to go down a bit again to convert them and pass them to my Bitcoin.com wallet.

As I already told you, I don't feel good at all, once again. Not always everything is pink, but to me in trading, I have never seen the color pink, everything has been very sad. I don't know happiness when it comes to trading.

Obviously the bet that the BTC would fall to $65,000 before touching $68,000, which did not happen, the BTC went up and in a few hours reached over $68,000 USD.

I hope you understand if I do not have the slightest spirit to review the articles in my notifications. I have no heart for anything. Sorry. Expensive mistakes. I also feel bad for all those who lost like me, and for Bolottrade himself. I imagine he feels worse than me right now. But we are all great at making decisions now. So I don't blame him at all.

My mistake: Not taking a good look at that detail of the Daily Copy Margin, I should have set it to 1. So he would only copy your order once and use only $20 USDT that day. I just left 12000 (default).

This is all friends. I don't want to talk more about it now. Thanks for reading me.

I'm done with trading.

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