Futures Trading: -$7000 USDT in one hour.

Nov 5, 2022

That trading is extremely complex and you can lose everything. We have already heard this ad nauseam on more than one occasion. Even if you do it in Spot, where you would not lose anything, because at least you would keep your USDT or your coins, it is difficult.

We have all heard about Futures Trading and how complicated it is because of the emotions that you have to have, or not have, since cold blood is essential whenever a position goes negative. Staying calm and knowing when to cut off the operation is essential. I started trading Spot and then eventually moved to Futures little by little. I thought I won, but it wasn't.

Confidence is a weakness and a bad companion. When you trust yourself and believe that you have already dominated the market, it leads you to think that eventually the position you have open and is negative will go positive and you let it run more and more. Then you regret it and it's too late. The losses are huge.

When I started trading futures, I had everything written down on a sheet of paper. I started with $50 USDT and slowly raised it to more than $100 in a few days. I even caught a few very good shorts, with a +50 USDT profit on them. But greed followed me. I began to lose little by little due to bad decisions and the worst of all was when I saw a huge fall in a currency, I entered Short with very high leverage and just as I entered the currency it bounced strongly without giving me a reaction time. He took all my money in a matter of seconds. I stood with my mouth open in front of the monitor. Since that day I have not even sold my BCH or another currency in Spot.

You may be wondering who took the huge loss of $7,000 USDT. He is a trader that I follow on YouTube who precisely trades live through this platform. He has had very good results lately but as you have seen, in one fell swoop he has lost a huge amount of money. The pair he was trading was Doge/USDT.

The currency that Elon Musk advocates, the Doge, has had a very good rise lately, due to everything related to the purchase of Twitter by the businessman. Perhaps the users waiting for a Twit from Musk caused the currency to rise very strongly but realizing that this did not happen, it eventually stopped its ascent and began to fall. Right now he is following the BTC chart. All this made their movements very fast and as they say in my country "Scrambled river, fisherman's profit" or not, in this case.

In a series of two videos, he lost the $7,000 USDT. Bad decisions and foolish hopes. In the second live video, he already started with about -$3000 USDT. He only had $4,000 USDT and immediately on a bad trade, he took them to just over $3,000 USDT. Afterward, he recovers something, but not completely. Then the worst came.

As he chatted with his followers on live chat, he again opened a trade on Short. It immediately went negative, once again. It was then that he started to manually raise the Stop Loss on the chart. It is a very nice option that the fairdesk trading platform has, but that can be lethal as in this case. By moving the Stop Loss in this way, he did not realize that he raised it above the liquidation price and the platform did not notify him either. The trade was going negative more and more, until it reached the liquidation price due to a pump that Doge made and I liquidated it, leaving only $100 USDT in the account.

Personally, it hurts me a lot, it is difficult to see such a great loss in such a short time. The trader still uploaded the video so that we can learn from these mistakes. When trading you have to be well-focused and always risk what you are willing to lose in these operations. Do not let the losses run and if the profits.

Here I leave the video, although it is in Spanish, trading is still universal and you can easily understand it. At minute 1:06:00 is where misfortune occurs

I'm sure he'll recover eventually. An error can be made by anyone.

See you in a few hours!

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