THIS IS NOT MY STORY, I JUST FOUND IT ON THE WEB. I THOUGHT IT COULD BE A LIFE LESSON.
Preface
I know that Cheetah will find this post, though my purpose is to inform people about the risks of trading, remember YOU WILL NEVER GET MONEY FOR FREE!
I don't want to break rules or copyright, so if the original author of this story wants me to delete it, so I will.
"So, long story short, I started trading a year ago, been margin longing the whole run from 1k to 19k ( sometimes closing the top, sometimes closing too early or too late, but always making profit)
I turned 3 lowly btc which I had from playing poker (at the time 3k) into nearly 200 BTC which was almost 4 million at the top and would be 2 million at current prices.
I thought I was a trading genius, a god, whatever. Anyway, this is where the sadness starts.
After the dump from 19k to 11k, I went long at the bottom and kept adding to my position on the bounce to 12k 13k, 14k. Then, at the 16k dead cat, my position was a further 100 BTC in profit. Instead of closing then and having a total 300 BTC, I increased leverage and increased my position size. This entire position was liquidated on the drop back to 12k because my entry had moved up so much. I lost 100 btc paper profit and nearly 50 BTC margin. I was devasted, and down to 150 BTC total.
After evaluating the situation, I came to the conclusion that the pump to 16k was a dead cat and that we are going lower. Therefore I shorted. At 12k. Added at 13k. Added at 14 and 15k. Got liquidated at the top at 17k. Another 50 BTC loss. Down to 100.
Think, ok we made a higher high at 17k, uptrend back on. Went long. Got liquidated at 13k.
50 BTC left. Devastated, unsure, no clue whats going on. Sat through the drop to 9k, when we bounced I thought it could be the bottom. Longed at 11500, panic closed 10500. When we went to 13k I was kicking myself for panic closing, went long at 12800.
Liquidated this morning for my last bitcoin.
3 BTC to 200, to 0
At this time I am still in shock, the last few months I've neglected relationships and school, and I've been daydreaming about living the high life rich as fuck with my millions.
Now, I am nowhere.
Posting this so others don't gamble away life-changing money. Don't want donations or tips not posting an address don't PM me. I never want to hear the word btc again because I want to forget."
I don't know whether this story is a fake or not, but surely is something to read and learn.
Trading is not a fair game, you can win but you can lose too: be careful!
#bitcoin #btc #cryptocurrency #cryptocurrencies #altcoins #litecoin #bitcoin-cash #bitcoincash #bch #ethereum #eth #ripple #xrp #cardano #ada #exhange #exchanges #trading #trade #money #victory #defeat
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