Well I started trading leverage about a year ago. Before then I was so scared of the idea of putting my money in such but now I seem to love it more than spot trading.
1/🧵
Well I started trading leverage about a year ago. Before then I was so scared of the idea of putting my money in such but now I seem to love it more than spot trading.
1/🧵
Before I started leverage trading I always thought it was very risky. I was right cause my first few encounters was nothing to write home about. If I can remember correctly I gambled almost all my capital away
2/🧵
The thing is I wanted to make soo much money with soo little. In that situation you’d have to set your leverage position so high. A high leverage positions also means that your liquidation price will be high
3/🧵
I didn’t seem to care much about the liquidation price being so high cause I was I was able to get out in time. It wasn’t much but then I was excited at how easily I could multiply my money in a short time.
4/🧵
I was hit with reality when I didn’t stop trading. I continued cause I wanted to make soo much more. Eventually I lost all my little dollars😂. I could set a leverage position to 40x and 50x.
6/🧵
For now I only set my position to 5x. I’ve never gone above 5x after my little incident. I get liquidated from time to time but then 5x is the best.
6/6
I guess the fear of losing it all affects many people in the crypto world until they dip a leg into it. Crypto is all about risk but someday, one will come to appreciate the fact that he stepped in without letting fear stops him.
For me the 50/50 chance gives me a great feeling, knowing fully well you could loose your money or you could double it is exciting hehe.
That is what makes it a game of luck and chance. You either win or lose.
Yep and that excites me a lot.
I never ventured into this world of leverage
Oh you should try it. You will loose at times but it’s an interesting type of trading.
I also loved trading spot. But I don’t go for leverage. My brother went for Margin and he lost all his 200$ in the blink of the eye. They got liquidated. If it happens the other way, he must have earned himself a treasure box.
Oh that’s quite sad. But has that stopped him from reading leverage? I think it should be a boost for him to trade and learn from his mistakes.
he has stopped trading. Trading is for those who have enough money…
come on you know trading is for everyone. He could be come rich even with a 10 dollar trade.