Greed made me loss it all in futures trading.

Greetings,

It took my a while to finally open up on how i fucked up and lost everything. Most of my friends have no knowledge about this. They would probably find out through this post. Well this happened sometime back when i was at Hopin academy doing my internship. I think i might have made a post about that. During the intership days i was blogging here on hive whiles also doing some trading on my own.

I was mainly doing scalp trading where i would kust buy an asset after its price raise a little bit i would sell and make some profit. I did that to any coin i could get my hands on. But mostly it was on Bitcoin and Do kwoon’s terra luna 2.0. I did this and made quite some profit. Together with my capital, i had a net balance of up to $500 in my Binance account.

Until one faithfully morning, i deiced to go in big into the future trading. Initially i brought in about half of my money and used a lower leverage margin of X5. Which meant i was now trading with $1250 in the futures account. I went on a long postion and things went my way and i made about $25 profit. I was pumped up and I decided to go again. This time i went in with a $300 initial capital and this time i raised the leverage up a bit to X10. Again i was successful and i made about $45 profit.

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It seemed like my door of success was just opened. The profits i was making seemed so simple. And then a thought popped in my head saying if i had put up all my money with a slightly higher margin leverage I would be making my way to millions now. I then now started ti imagine all what i could to with that money. With the money in my wallet almost hitting $600, i decied this was it. I was going to use all in a single future trading make more money.

Little did i know this was going to be one of the worst decisions i could ever make in my life. I quickly forgot how i made about $100 by taking little risk. So i went long on Bitcoin again with a even higher leverage of X20. I placed the trade in the afternoon, come evening time i was on phone and got notified i was on the verge of being liquidated of all my assets.

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I rused quickly to my account only to find out i was liquidated. Different emotions were running through my body. I let my greedyness cloud my judgement. I was better of making profits in smaller quantities and taking little or no risk at all. This decision will haunt me for a while. I hope you would have adopted a very important valueable lesson by not being too greedy and always manage your risk. Thank you and see you next time.