Have you ever been haunted by one of these nightmares when trading crypto?
Please read some of the scariest moments of our traders in their crypto journey so far.
when btc was moving around 60-64k
i started trading in vet(vechain) in usdt pair with 20x leverage.it was like bullish time so i started very well.it was around 11’30pm and my money was like in 25% profit since this was my first successful future trade i think not to close trade and continue that. i was using apps but in every 5 minutes i came to binance and check my trade till 1 pm and was about 125% profit !!!!
i was in hell of sleep with keeping my eyes open and don’t know when i slept but after sleep i was suddenly up and seen that my trade was at 13% loss🥲🥲 wish i close that trade or awaken that night.
now i have no money to trade😆🥲
Alex , @alex22312
So my story starts just like a lot of the people here..
I began investing around February 2021. Total investment was around ~5-6000 USD, at an average price of around $34-35k. Of course, my weapon of choice was BTC.
Seeing my portfolio go up like 40-50% was astonishing. I was finally able to get back at all my friends who were telling me that everything is gonna crash. I was laughing at them and telling them how i had been right all along 😂 thinking how i should have set up stop losses and all that. (Now i’m happy i didn’t set those up)
And then.. boom. May came. Not only was my portfolio completely in the red, but i was actually down on my initial investment. Now my friends were the ones laughing at me, finally getting revenge 😂
Didn’t know what to do, tried trading a bit here and there with small amounts, but to no avail. In the end i just said “whatever” and managed to hold.
The train of emotions i went through was of course unbelievable. Went from extreme happiness to extreme depression, but in the end i did the right thing – HOLD.
Now i’m finally seeing my gains grow back up again 🙂 and happier than ever. Managed to get back at my friends once more, lol.
Few things i’ve learned so far:
⁃ time in the market beats timing the market. Judging by its history, btc is here to stay, and so are probably top 4-5 alts.
⁃ if you want to trade, be careful. I would suggest trading with maybe 10-15% of your portfolio, and of course, money that you’re willing to lose. Trading is not easy at all and it can be riskier (even though more profitable at times) than just holding.
⁃ If you’re afraid or can’t afford to lose large amounts of your portfolio, use stop loss.
⁃ BTC is and will still remain king 🙂
So that’s pretty much my scariest story with cryptos. I’ve definitely learned a lot, and these lessons will stay with me for whatever the markets have to bring in the future 🙂
Kalyan Buridi, @samba1233
It was the April Crash of 2021.
I made almost 900$ from 150$ and every single position was giving me max profit.
I didn’t have any Experience at that time with TA or FA for that matter. All I was doing was longing again, again and again.
I had 3 isolated longs with 300$ margin per position. BNB, SXP and FLM respectively. The worst part was I was so sure that I won’t get liquidated because the LP was too far away. I didn’t have sl cause I didn’t want fake sl hits.
The D-Day came. I woke up at 7:30AM and saw my positions in red. All of them were approximately at -150$ each.
30 minutes passed and the FUD came. I’ve seen 3 of my positions got liquidated right in front of me. All I could do was nothing but cry inside.
The hit was so hard that I didn’t recover yet. Thanks to that day, I’ve learned TA and FA and i never got liquidated after that ❤️
Shawn Anthony, @FivePaths
I lost 2k on MATIC the first time I started trading about 2 months ago. It was at 0.92 and it was supposed to elevate to 0.96. I’d placed half my portfolio on that including a 15x leverage. The value dropped to 0.87, I almost crapped myself. An “expert” told me increase my margin so that I wouldn’t get liquidated and that I would eventually regain far more. It eventually dropped further to 0.80 and I increased my margin a further 5 times. I finally ran out of most of my money when the value hit 0.60.
Two days later, MATIC started shooting up and today, it’s at $1.2?
If only I’d done a spot on MATIC instead when I started instead. 😉
Abdullah Shahzad, @AbdullahShyzad
My scariest trading story?
Last week BTC skyrocketed to $43k and I’d bought some ALICE on an ‘expert’s’ call.
My mistake, went half-in with 20x. Within few minutes I was in 60% profit or $400 profit.
Suddenly, BTC crashed to $40k and then kept falling for next 24 hours until $36k. It kept me up all day, all night and then next day.
My liquidation price for ALICE (cross futures) was $12.9. To lower my Liquidation price I borrowed $2.5k from a friend. Successfully lowered it to $11.6, but ALICE, the next day, hit $10.8. Lost 80% of my portfolio.
Taught me some great lesson I must say!
But this taught me how to trade Professionally in futures and manage my risks. I’ve earned back and paid some 30% of the debt this week already and have managed my risk well! & Tbh your signals have really helped me.
It was last night. All my friends wanted to sell their coins, they said bitcoin can’t go up anymore. But the candles and the patterns were saying otherwise. I told them to hold. It’s going to breakout upwards.
Everybody said If I don’t sell and it goes down by tomorrow my loss will be on you but if it goes up we will give you some money.
I recently got liquidated and lost everything because of going all-in. A stupid trade. So I needed some money badly to start over. But when they said their loss will be on me I got scared and wanted to say whatever, sell if you want I don’t care.
But everything was telling me it’s going to go up tonight, The patterns, the candle shapes, the support line, so I trusted myself and told them ok, I’m sure it will go up, so hold. And they are all spot traders, they had bought crypto with everything they had.
Those two red 1h candles from last night were the scariest moment for me, it almost gave me heart attack, I was about to tell them guys I was wrong sell now, but I knew it was temporary and it will go up but it was too scary, so eventually it went up and I was right, In the morning everybody was happy, They haven’t given me any money yet though. lol.
Rasaq Awofeso, @Roscom09
As a newbie in crypto, and having observed for a while how new listings usually mooned on binance, I decided to fomoed into another upcoming listing. On the D-day, I was prepared, funds(huge amount) transferred to my wallet in anticipation of making it big through trading😍😍😍. I bought this particular asset immediately it was listed –without carrying out any prior DYOR – and in the first few minutes, things were going according to plan (or so I thought)💵💵. I could have taken some profits, but I was greedy. I didn’t set any SL or TP, “there’s is no need, the coin would do %200 – 300%”, I said to myself (naive me😁😁😁). Moments later, suprisingly, spot trading maintenance occoured and trading stopped, this I’d have known if I’d taken time to go through the announcement page, but I didn’t. Minutes became hours, still no trading; started to feel nervous ☹️ but still confident of profits. I couldn’t sleep or engage in any other activities as I was pre-occupied with incessant checking of my trade. By the time trading resumed, when I checked my wallet, I was losing heavily (this again could have been prevented if I’d set SL).😡😡 I was furious, panicky and closed the trade out of fear of losing more.
Thankfully, the funds were mine, not borrowed, but still a great loss.
This became a learning point for me. I never fomoed again, always carried-out “DYOR” and set targets for my trades.
I hope someone learns from my mistakes.
My scariest experience was when I was a newbie I bought a coin in futures with 20x leverage I got 3 targets hit and I got 3x profit , at that time I thought in a signal all of the targets hits and it is conformed , so when the 3rd target hit the coin started going down and I was about liquidate I go on adding funds and it was also the market crash I looked at market whole night that day I thought it will come up and hit all and it came up to my entry 2 times but then I thought it will now hit all target but it went down again and I got liquidated with -1000% loss. and I also had stop loss which I cancelled 3 times. this was my scariest trade no it was my scariest thing in my life.THE END.😥
The moral of the story is Greed is the worst thing and you should learn before doing anything stupid
*this coin was reccomened my other channel
This is a story of recent market crash when btc went down from 64000 to 30000.
i was making good money because of bull run and started dreaming of quitting my profession and make millions by crypto. my nights went by thinking how i will spent money on my new house, car, my destination wedding and dream honeymoon etc.
But but but, on that horrible day of my life dont know why i selected CROSS mode instead of ISOLATED in one trade and market crashed very badly.
when i realised about crash on telegram i suddenly rushed to close my positions because none of them had stop loss. but on that day whole universe was behind me to f*ck me up. Binance also crashed and i didn’t knew what to do. i restarted my phone couple time , checked wifi but still binance was not responded. i was totally gone when i finally opened binance. my balance went to 0 along with my dreams.
from that day i learned few things :
NEVER keep your whole fund in future account. transfer your profit to wallet everyday.
NEVER trust any exchanges. anything on internet can be crashed or hacked.
and last and important NEVER forgot to use Stop loss on any trade even though you are 1000% confident.
Last year I decided to invest in an ICO for dentacoin (DCN). I invested approximately $1,000.00 USD.
Once DCN became public, my initial investment grew to a total of $15,000.00 USD. I decided to sit on it for a few more months. During that time it dropped over $10,000. I got nervous but still held to see if it would go above the 15k that it opened up at.
It did! A few month later that initial investment of 1k turned to 28k. I sold it all.
Rookie Mistake #1 — I sold it all, I should have only sold 25%-50% in case it sky rockets…..
It sky rocketed
Mistake #2 I sold everything too early, if I waited 10 days that initial investment of $1k would have been worth a total of $220,000.000.
I’m very happy to make a 27k profit, but a 219k profit would have been better.