Trading: I lost everything, but…

May 21, 2022. No. 250

I've warned you before: Futures trading is extremely difficult and very risky.

Adrenaline is lethal in these situations, and when you link it with emotions it is much worse. I started trading a few days ago, and in futures, where it is extremely difficult because of the leverage and the volatility of the market.

The day before yesterday I started my trading with 116 usdt. I entered the BTC market by going short when the price was around $28,850 USD. My clearance price was $29,800 USD. Incredibly, the price increased very sharply to $29,000, and the loss was enormous. Do not cut the operation and let it run. Taking the risk, but it was getting bigger and bigger. It was already a matter of not wanting to lose. Contrary to all logic and everything I told you before in the other articles.

Wait a little longer and the price did not change much, but it kept me at a loss. To the point that I didn't care about anything else, I turned off the monitor and went to sleep for 5 hours. I took the risk. When I got up the price is at $28870 and I was only losing -7 USDT.

Guess what I did? Well, I did not close the operation and I believed that the price could go positive. But he didn't. Wait and wait some more. The price rose considerably again and I moved away to more than -50 USDT of loss. Still believing that it would go down again, I did not close the trade. The famous phrase: "Either all or nothing" was my shield. Around 11 am the price of BTC touched 29800 and I liquidated my $114 USDT.

The desperation, the pain, the dream, the sight, the tiredness, the regret, the discomfort with myself, was enormous. By not accepting the loss of 7 usdt, I had lost all the capital with which I was making in futures. Remember that I had started with $52 usdt and in 3 days had managed to take them up to $114 usdt. I had lost them in 24 hours.

A few hours passed and I let that initial moment pass. It was then that the worst came: The thought of being able to recover what was lost. This is the worst of all.

That's when I converted my 3.21 BCH to USDT, over $600 USDT. I know what you think if I went crazy, and the reality is that yes, I didn't know what I was doing for sure at the time. Not an easy decision. I sent my USDT into futures and opened a long trade when the price of BTC was at $30320 USDT. Guess what happened? The price went up to $30,000 USDT in the blink of an eye. I was losing -150 USDT again—everything against me.

So I was looking at the price for more than 8 hours straight on the mobile. The headache and the feeling of loss were enormous. But even so, I did not close the operation.

Until I arrive at 9 pm, the price of BTC managed to rise to 30340 USDT. As I was about to close down a few USDT, the seemingly impossible happened.

The price of BTC increased to $30,790 USDT in just a few seconds. The green candle was huge. My profit jumped to over $170 USDT in seconds. So I waited a second to see if it wouldn't go back up some more and see that it wouldn't, I closed the trade. I ended up with $132 USDT profit. I could have gone short, as the price started to drop rapidly, but I didn't. I was in shock at what had just happened. I couldn't enjoy it, because they were taut moments, for hours, looking at the cell phone screen, every fluctuation in the price of BTC.

I bought back my 3.2 BCH and kept my starting capital in futures even a little more.

This is not recommended at all. Trading is extremely complex and dangerous. If the green candle had been in the opposite direction, I would have lost all my money.

End the day with a smile. At least not literally, because I couldn't laugh until the other day. The tiredness and headache from eye pain were enormous. I still couldn't believe what had happened. He had lost everything and recovered in just 12 hours. But it was not easy and the risk was enormous.

Last night I couldn't even write an article. So I passed on the main rule that I had here on this platform. First time I spend 48 hours between articles, since I started in read.cash, more than 8 months ago. But he couldn't really do it.

I would do it again: NEVER!