This will not be a happy story. Here's what happened to me.
I've been poor as fuck my entire life. I'm desperately waiting for my paycheck every month and the last few months I was buying 100€ worth of BTC. Usually I gained a little, but every time I had to cashout as I always need money at the end of the month. This was the first time in my life that I could actually afford to buy 450€ worth of BTC with my own money and started trading for real.
I was not bad. Starting on Friday (19th) I did some good trades and my portfolio was looking more like 650€ in a few days. But I did one giant mistake. I really didn't expect Thursday's BTC drop, so I had the long margin position open and I went out to have a coffee with some friends. Only 20 minutes have passed, I looked at the price and realized the drop and I got depressed the next moment. Kraken had a huge lag so I couldn't do anything. The account page didn't even open and I couldn't see the state of my margin position.
In the evening when I got home Kraken was stable so I realized my loss would be around 180€ if I close now. I was confident that BTC will recover the next day so i left it open and went to sleep. This was my second biggest mistake, as in the middle of the night this happened:
So if the price drop would be just a few bucks less or if I had just a little more money in my leverage I would happily close my position in the morning and took a loss around 50€ - 100€ and still be in profit overall. But this way Kraken took almost all my BTC.
In situations like this many questions pop up. Why shit always happens to good people? Will I ever be happy? Please don't tell me that money doesn't bring happiness! I've heard that too many times and I so disagree! A human being needs freedom to be happy and one can hardly be free and poor at the same time. It's almost impossible.
Finally I think it's time for me to start looking for some kind of a guru, that will teach me how to live a happy life, because apparently I cannot handle money, or at least I'm very bad at it and that's the main reason for my suffering.
Thanks for reading, it feels good to share..
Man o Man... sleeping with an open leverage trade is a really bad idea especially with bitcoin that is known to have large wild swings. Trading too is also not the right way to make money. The only place you can make money is going long large cap stocks that too at attractive levels. But you should hold your positions for 3 odd years at least. Quick bucks are difficult to make plus they disappear very quickly. No one is good at managing money as no one is a trained professional nor anyone can predict anything accurately. I would say try and develop a skill and do a freelance job for it. Earn those bucks the hard way so that you spend them frugally. You already have money with you. What you have is decent money. You think you have less the moment you compare it with others. In fact, everyone is poor on a relative basis. I.e. in comparion to the richest man alive. Have a relook on your life. Doesnt know if this helps but I am sure you got the point I am trying to make. ☺
Oh thanks. You've both brought a smile on my face. I really feel better after sharing this.
Ur welcome ...
Go Have a strong coffee and take a walk. Just one coffee ok ! And try and take some photos with your mobile phone. Click a good one and post here. Show us your spirit. I hope I see you smile at the end of the day. I am with you. I know how you feel. Now go turnaround your day and be right back here. ☺
Will do! But i don't promise any good photos :)
Just post it.. good or bad...and tag me ☺ just do it.
Here we go :)
https://steemit.com/photography/@jaka/grass-clouds-and-some-trees
It's life, maybe you could split your money the next time on different altcoins, then the risk to loose all your money will be less. Just don't give up brother, search for new opportunities in your life, you will always find a way to win if you search hard enough, believe in you!
Maybe you could visit the VIVA chat(https://chat.vivaco.in/home), VIVA will be a new Cryptocurrenie with a social media site and much more, and it will provide basic income for the so called Vivos (VIVA member). As you stated that you're ' poor as fuck your entire life' that could be interesting for you.
And thank you for sharing this story!
Yeah I did that and thankfully didn't lose all but more than a half of my portfolio is gone.. and with the altcoin donwtrends I've lost even more today :) but yeah not all is lost and I'm still kicking. Thanks for your thoughts.