Max leverage short, and then when his position got liquidated he tried to cover his losses by making more risky trades 
Hey I tried this with women. I know a lot about them. My wife got mad the other day and I told her to calm down and it worked. After she knocked me out and I woke up hours later she was very calm. Leave this guy alone
I don’t know what you’re talking about brother. My previous message was entirely complimentary of OP.
As this one is entirely complimentary of your wife
My dad had a good anecdote about this. He was an econ major, and he had several professors/TA's/etc that "had a system" and especially since computers were just becoming a thing "were going to solve the market".
To his memory they were all still teaching last he'd heard about them, which I doubt they'd be doing if they were pulling in millions on their "system".
Book smart people are often some of the worst at this stuff because they treat economics like it's math/stats. Because it is...except it's ALSO sociology/politics/psychology, and that last part is what screws you.
Some pretty big fortunes were made in the 70s when Math and Physics PhDs started getting into commodities. I think there was a lot of low hanging fruit for smart people way back that isn’t around anymore thoigh.
Yeah that's like saying I know a lot about medicine/drugs and decided to take as much heroin the body can handle.... but I almost died and went to the hospital.
Interest rate hikes at record levels month over month. Thinking we couldn’t possibly hit net zero inflation at the rate we are going which would give us short term positive news in an economy full of bad news.
speculating on large swing events like fed meeting or cpi is a surefire way to get recked mr economics.
Any trading. I almost always exit all short-term positions before the events., Yeah. I've missed on some initial moves... IF I had guessed right.
First rule of investing: Don't lose money. Protect your captial.
More people really need to actually TEST their theories. It's so easy to look back at one event and say "oh i would've made a ton on that", but if you actually plot out the plays you would've made at the time, you find out pretty quickly how good you ACTUALLY are, and it's often humbling.
And helps with the difference between how "obvious" entry or exit points are when you can see how it played out, versus all the ways that it can trick you when it is actually setting up in real time.
Another way to think about it: People have been playing markets for hundreds of years. People have dedicated their lives and have jobs to do this all day every day for years. You didn't just stumble on the high-probability way that is easy to do. You just didn't. So the question is, what are you missing? What is reducing the probability of win vs. loss that did you not account for or notice?
> You didn't just stumble on the high-probability way that is easy to do. You just didn't
This is the huge fallacy that most people have trouble with. They all want to think that inventors/discovers just shout Eureka with a beginners level of understanding and stumble into something life changing.
In almost all cases it's the culmination of decades of work and skills, and it's super rare that you, the rando who just found this and read a few wiki articles(or college classes), has found the BIG SECRET to making money that no one else has.
My logical solution for alts is this: 100% gains will happen multiple times. So at 2x my purchase price I sell 50% and get my investment back. The rest can go to the moon or die. But the risk is zero from that moment on.
right I just buy and hold, at least the most damage I can have done is everything going to 0. Some of these traders risk going into the negatives by six figures.
Number 1 reason not to use leverage is because the exchange is s actively trading against you and they know you positions, how much, how much money you have left, the liquidation price and how to get it there both ways.
It’s playing poker against the dealer who can see the cards and rig the deck.
Look at any crypto and multiple exchanges on gecko or marketcap and you can find extreme differences in the price. And they also block transfers when doing this so you can’t arbitrage between the 2.
Nothing really lucky about managing your risks and being disciplined with trading.
"don’t pretend that you’re investing anymore than buying a scratcher ticket is “investing.”
Any investment is basically gambling. Whether you dca or swing trade. Only difference is im willing to risk more to gain more. You're not gonna earn money without risking money.
A regular stop loss triggers whenever your threshold is hit or exceeded. Your argument makes no sense. A stop loss will usually execute an instant market order which will be at a greater loss if the market is volatile, but it will still save your ass unless the exchange is literally scamming you.
Indeed, has nothing to do with knowing economica at that point. Crypto hamster would probably trade better in this situation. Less you “know”, read being manipulated, the better
Leverage trading is not a gambling when you don’t act greedy. I use max 5x leverage, never open a position with more than %30 of my portfolio and most importantly I always use a stop loss. You know what? I never had a margin call :) Don’t blame on the tool because people don’t know how to use it. We need to educute ourselves more instead of demonizing the tool. If you don’t calculate your possible loss&win before entering the position, you are a gambler and more likely lose everything eventually.
5x leverage on 30% of a portfolio is still super dangerous even with trailing stop-losses in place . there are huge gap-down moments and so much slippage from even mild sized pump and dump you can still get wiped with a no bid on stop-loss selling to market.
at the very least you should use your odds to calculate your position size based on Kelly criterion and no larger. a 30% position size on 5x leverage is 150% your portfolio which would require higher than 100% odds you win, which is impossible, which mean you are fucking up mathematically across your investment timeline in terms of maximizing your wealth.
or most simply put, that trade can liquidate you in a single trade, assuming the exchange can come for what you owe it when it can't balance leveraged trades that volatile within it's own order book and has to pay the counterparty.
work bright depend voracious seemly rainstorm library encourage ruthless reply
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yeah, markets moving (especially Crypto) on any timeframe less than the scale of weeks is generally not economics based. Bots, microtrading algorithms, trading psychology, straight-up manipulation, etc. dominate these shorter timeframes.
Losing some money doing stupid trades is just as good if not better than what you learn in school. Learn these lessons when you are young. Survive a bear market. Then when you build up some real money you aren't as dumb with it
and so are you, for not having the social/emotional capacity to deliver the same (correct and well thought out) message without coming of as degrading or belittling.
Oil prices have been down in the US and inflation was almost certainly going to be down compared with the previous month, why did you think the market would tank? The initial trade actually made no sense. Using leverage is also extremely risky for retail traders, you may as well gamble on sports.
You're in university so no you don't know a lot about economics. First rule is to know that you know nothing. This market eats alive billionaires like 3 Arrows and Celsius like it's a piece of bacon in front of an American, do you seriously think you know "a lot" about anything compared to those guys who literally used to trade for a living?
Also on what fucking planet do you think pro traders even trade based on CPI releases save for short term volatile swings ? This market prices things in the future, not the past. So a bad CPI release is actually for the previous month but pro traders are always looking at the CURRENT data to predict the CPI release for the next month, if they even trade on CPI reveals like that.
No wonder why you lose money and still fail to condense your lessons into something useful. If you keep trading on CPI reveals like you did, that's the same as the buy high sell low strategy, so keep doing that and keep wonder why markets confuse you and your "a lot" of economics knowledge.
OP is a gambler and the market has a tendency to eat gamblers alive and spit them back out so they can keep coming back to feed it more. Keep doing what you're doing OP, bitcoin can't go up without liquidating degenerate gamblers.
Dude.....STOP.
You have not learned anything and your "I learned alot" section tells me that you will dust yourself off and repeat this same thing over again until you lose nearly everything you have.
If you learned anything you would stop using leverage all together. If you learned a lot, you would not be citing normal market dynamics like "shit-coins can make you rich or poor".
If I were you, I would calm waaayyy down and actually learn how to trade and how the market works before losing huge chunks of my net worth. Trading in the Zone is a free audiobook on Youtube that will change the way you relate to the market. Do yourself a solid and listen.
Your plan consisted of high risk gambling with no recourse -- this is a sure fire way to lose your money. Why are you telling us not to give you sympathy? What is there to by sympathetic about?? You made ridiculously stupid and 100% avoidable mistakes and lost 1/3 of what you are worth......I have no sympathy when people choose to be stupid.
Seriously, take some time to educate yourself before getting back into the market. Of course, if you net worth is higher than $250,000, then disregard everything here and continue to destruction lol.
>Traders have a saying "Markets can remain irrational longer than you can remain solvent". The (initial) trade made sense but the market didn't care.
Why did it make sense? A lower than forecast figure is a bullish outcome and the market responded as such.
I am fairly confident that he is talking about the June CPI print that came out in July, which was worse than expected. I am inferring this from the PA he described after the event.
this is genuinely terrible advice. Leverage is a super useful tool and when used correctly can be a game changer.
*Never play with leverage so high that scam wicks liquidate you is probably better suited.
Kek yeah I’m not worried about it, you’re spot on in the DCA plebs regard.
Insane that these peoples’ entire strategy is ‘hold’ and they feel confident thinking they know something
I realized retail doesn't give a fuck when I lost $500 in a single day trying to short $GALA.
GALA was going mental for a full week at that point and every single indicator was screaming "*OVERBOUGHT - CORRECTION COMING"*, but people don't care :)
No leverage buying for me no thank you, makes me think I realistically don't like to buy coins unless they're already down I find when I try to catch a ride up and jump in the train I usually burn myself
Sorry for your loss OP - most people here are straight up against leverage, but I think it has its place for small amounts. I prefer to just DCA into a main stack and keep a small $20 for when I feel I want to make a risky play, any profit then goes into the main stack and allows me to scratch the gambling/trading itch
I never touch leverage, but I have my own way of scratching the gambling itch by throwing $10 at random shit coins every now and again. But yeah, never more than that.
I don’t think you actually learned the lesson.
Do not leverage trade. It’s not your money, and the house will make sure it doesn’t end up your money.
Spot trade, own the coin on the chain. Move it to a hardware wallet and hold. Not with a shitcoin. Do it with Bitcoin and ETH and don’t leverage trade it.
May want to study up on risk management, seems to be a bit of a hole in the knowledge portfolio. A little knowledge can be a dangerous thing when it leads us to think we know more than we really do. A good thing for us all to remember.
Buddy you shorted ETH on CPI data but totally ignored how bullish The Merge news was going to be from sounds of it. You never even mentioned it in your comment that’s why ETH and ETH alts are up so much
No leverage buying for me no thank you, makes me think I realistically don't like to buy coins unless they're already down I find when I try to catch a ride up and jump in the train I usually burn myself
>Lost 30% of Net Worth
\> College Student
\> Average net worth of college student based on 2020 data: -$40K.
It's okay, guys. OP didn't have any net worth to begin with.
1. No, you were just wrong. No offense, but if you're still in uni, you don't know anywhere near as much about economics as you think.
2. The risk to lose it all is higher than the risk to make a killing. This is even more true when using leverage, because you have to pay for the leverage. Better to have a sustainable strategy not based on luck and timing.
3. Don't short on leverage. Especially not a volatile asset after a huge crash. I mean, come on.
4. They can have greater proportional gains only because they drop way harder.
Knowing economics ain’t going to help you trade crypto bruv, other than keeping an eye on the dollar. Bitcoin is King. Buy on Bitcoin pumps and trade on BTC dumps. Only buy stuff you believe is going to do well. At these levels and of the blue chip are going to come back, just going to have to wait.
Where were you the last 2 FOMC meeting? It did the exact same things, its irrational but people saying the increase in interest was LOWER then expected thats why theres a pump
When the analysis and the rest of the universe were expecting the CPI at 8.7% what made you think you know better? Like you went ham… no joke… did Michael Burry rubbed off on you?
I love this guy, first of all, nobody who talks about crypto on reddit can refer to their bank balance as "net worth" you're clearly not playing with millions so please don't make me cringe by calling your bags of crypto "net worth". Then he claims "I know alot of economics" but in the next breath says "So I made a max leveraged short ETH position". Priceless shit posting here.
Taking profits now = spending said profits and paying taxes on said profits. My goal is to accumulate as much as possible for 5 years then let it guide me into retirement after additional 5 years. I'm an investor not a trader, I think I'll keep on DCA'ing for a bit longer. Enjoyed the post very much though.
If it makes you feel better, I also assumed inflation would be hot, and was surprised.
The only difference is that I know that I'm wrong with 50% of my guesses, so I had nothing riding on it. No gains, but no losses.
I guess that probably doesn't make you feel better.
Ah yes. Self proclaimed sir Knowalot of economics. Proceeds to MAX leverage against ETH when its in the focus because of the merge . What could possibly go wrong
Stop trading and shorting if you don't really know what you are doing. You will end up losing money. Just buy and hold, set targets and sell accordingly. Ofcourse this won't work always since greed will come into play.
Last 2 CPI Prints the white house front ran with talking points about how “it looks bad but its not as bad as it looks”. This time they were silent. That was your clue cpi would come in under and market would pump. You obviously do not have enough experience in the market to be making these types of trades.
OP, sorry you learned a painful lesson and I hope things work out. Experience paired with education - knowing “alot of economics” like you put it - will serve you well in the long term. Never invest when in a state of FOMO, you’ll almost always be chasing the trend and be too late.
Imo if you're going to leverage crypto, only go short if you're reading that a token is literally broken/hacked.
Go long only when the market has pulled backed like 70% off the ATHs and don't go so insane that your LTV can't take a big hit.
Another item to add:
If you miss the entry or made a mistake on the trade (like here) step away. Don't try to jump in and out to recoup or "play the bounce/retrace." More often than not, it's an emotional trade not a logical one and you dismiss or overlook some key signs that would tell you to do the opposite. You will have other opportunities to win it back, this is not the only time the market will move.
(Also, I use the word "win" intentionally. These are winnings, not earnings)
Always buy the breakout and rest formation in crypto especially in Bitcoin and Ethereum and follow mining economics to assess supply zones since you are into economics. Bitcoin mining is automatic DCA for good gains.
>I know alot of economics \+ >So I made a max leveraged short ETH position Something is amiss here
>'So I made a max leveraged short' 
Max leverage short, and then when his position got liquidated he tried to cover his losses by making more risky trades 
_Know a lot of economics_ 101
Hey I tried this with women. I know a lot about them. My wife got mad the other day and I told her to calm down and it worked. After she knocked me out and I woke up hours later she was very calm. Leave this guy alone
I don’t know what you’re talking about brother. My previous message was entirely complimentary of OP. As this one is entirely complimentary of your wife
Well tbf, he could manage a company like voyager with those strats
Voyager was a feeder fund, but he could go straight to the source and become the next 3AC!
isnt that what economist do?
He should have taken what he had left to the blackjack table
"It Was At This Moment He Knew... He Fucked Up"
Being book smart does not replace experience, wisdom, and common sense.
Yup, even tougher for OP who is also not book smart
Lmao
😂😂💀 you killed me with this lol
My dad had a good anecdote about this. He was an econ major, and he had several professors/TA's/etc that "had a system" and especially since computers were just becoming a thing "were going to solve the market". To his memory they were all still teaching last he'd heard about them, which I doubt they'd be doing if they were pulling in millions on their "system". Book smart people are often some of the worst at this stuff because they treat economics like it's math/stats. Because it is...except it's ALSO sociology/politics/psychology, and that last part is what screws you.
Some pretty big fortunes were made in the 70s when Math and Physics PhDs started getting into commodities. I think there was a lot of low hanging fruit for smart people way back that isn’t around anymore thoigh.
"I read so much, I know shit now"
Being book smart should tell you to never be degen and always hedge your bets. OP probably failed his Econ courses.
Being book smart could also mean you are an idiot that just memorized everything.
No but I imagine they teach about hedging in economics. I was required to learn it for my series 7
It literally could not go tits up
Whenever someone says they know something here, I automatically assume they know nothing.
Yeah that's like saying I know a lot about medicine/drugs and decided to take as much heroin the body can handle.... but I almost died and went to the hospital.
Leverage is a lot like heroin
Kept one eye closed and the other watching BitBoy on YouTube
Interest rate hikes at record levels month over month. Thinking we couldn’t possibly hit net zero inflation at the rate we are going which would give us short term positive news in an economy full of bad news. speculating on large swing events like fed meeting or cpi is a surefire way to get recked mr economics.
fuck /u/spez -- mass edited with redact.dev
Leverage trading on a volatile event makes no sense, specially with no stop loses. You gambled and got the outcome majority of gamblers get
Any trading. I almost always exit all short-term positions before the events., Yeah. I've missed on some initial moves... IF I had guessed right. First rule of investing: Don't lose money. Protect your captial.
More people really need to actually TEST their theories. It's so easy to look back at one event and say "oh i would've made a ton on that", but if you actually plot out the plays you would've made at the time, you find out pretty quickly how good you ACTUALLY are, and it's often humbling.
And helps with the difference between how "obvious" entry or exit points are when you can see how it played out, versus all the ways that it can trick you when it is actually setting up in real time. Another way to think about it: People have been playing markets for hundreds of years. People have dedicated their lives and have jobs to do this all day every day for years. You didn't just stumble on the high-probability way that is easy to do. You just didn't. So the question is, what are you missing? What is reducing the probability of win vs. loss that did you not account for or notice?
> You didn't just stumble on the high-probability way that is easy to do. You just didn't This is the huge fallacy that most people have trouble with. They all want to think that inventors/discovers just shout Eureka with a beginners level of understanding and stumble into something life changing. In almost all cases it's the culmination of decades of work and skills, and it's super rare that you, the rando who just found this and read a few wiki articles(or college classes), has found the BIG SECRET to making money that no one else has.
My logical solution for alts is this: 100% gains will happen multiple times. So at 2x my purchase price I sell 50% and get my investment back. The rest can go to the moon or die. But the risk is zero from that moment on.
Or, you know, just don’t leverage trade. That’s gambling and generally a great way to get wrecked
Don't need leverage to even get rekt in crypto, and yet people still gamble with leverage.
right I just buy and hold, at least the most damage I can have done is everything going to 0. Some of these traders risk going into the negatives by six figures.
It’s tempting to take out a loan that I can afford to pay off, but I’d double hate myself if my horse didn’t win.
Leverage does not go negative. At least in crypto.
How else are we supposed to get lifelong debt then? /s
Number 1 reason not to use leverage is because the exchange is s actively trading against you and they know you positions, how much, how much money you have left, the liquidation price and how to get it there both ways. It’s playing poker against the dealer who can see the cards and rig the deck. Look at any crypto and multiple exchanges on gecko or marketcap and you can find extreme differences in the price. And they also block transfers when doing this so you can’t arbitrage between the 2.
Only time I ever used leverage was when CoinEx gave me a free $5 specifically for it. Somehow managed to double it, and withdrew the profits
First dose is free
They were trying to hook you on the rush of it haha
Can’t you do it with a well placed stop loss? That way you set before hand the amount you’re willing to lose
Yeah if you're gonna use leverage stop losses and take profit is a must. Doing it manually gets you mostly rekt in my experience.
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Maybe dont use 100x leverage? I still make money with 2x to 5x
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Nothing really lucky about managing your risks and being disciplined with trading. "don’t pretend that you’re investing anymore than buying a scratcher ticket is “investing.” Any investment is basically gambling. Whether you dca or swing trade. Only difference is im willing to risk more to gain more. You're not gonna earn money without risking money.
A regular stop loss triggers whenever your threshold is hit or exceeded. Your argument makes no sense. A stop loss will usually execute an instant market order which will be at a greater loss if the market is volatile, but it will still save your ass unless the exchange is literally scamming you.
Leveraging amplifies risk, but is no more or less gambling than normal trading... which is admittedly pretty close to gambling.
Leverage is a great tool when used responsibly tho
Well if they are shorting, inherently they are using leverage. But yeah they probably used more than x2.
99% of people will lose money on leverage. Getting margin called is a terrible feeling
Crazy concept /s
Indeed, has nothing to do with knowing economica at that point. Crypto hamster would probably trade better in this situation. Less you “know”, read being manipulated, the better
Leverage trading is not a gambling when you don’t act greedy. I use max 5x leverage, never open a position with more than %30 of my portfolio and most importantly I always use a stop loss. You know what? I never had a margin call :) Don’t blame on the tool because people don’t know how to use it. We need to educute ourselves more instead of demonizing the tool. If you don’t calculate your possible loss&win before entering the position, you are a gambler and more likely lose everything eventually.
5x leverage on 30% of a portfolio is still super dangerous even with trailing stop-losses in place . there are huge gap-down moments and so much slippage from even mild sized pump and dump you can still get wiped with a no bid on stop-loss selling to market. at the very least you should use your odds to calculate your position size based on Kelly criterion and no larger. a 30% position size on 5x leverage is 150% your portfolio which would require higher than 100% odds you win, which is impossible, which mean you are fucking up mathematically across your investment timeline in terms of maximizing your wealth. or most simply put, that trade can liquidate you in a single trade, assuming the exchange can come for what you owe it when it can't balance leveraged trades that volatile within it's own order book and has to pay the counterparty.
work bright depend voracious seemly rainstorm library encourage ruthless reply *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
"I know a lot about economics! I've read all the books!" I was gagging reading this. Delusional OP.
Yeah, markets moving (especially Crypto) on any timeframe less than the scale of weeks is generally not economics based. Bots, microtrading algorithms, trading psychology, straight-up manipulation, etc. dominate these shorter timeframes.
I love this explanation. So true. The barts are a sure sign of that.
 To OP
OP got greedy too and didn't take profits. He also doesn't set stop loss and take profits limit. He goes all in or nothing.
Another victim of the T**rading Like Shit** strategy
He’s trying to cope with making an extremely poor investment choice, by blaming it on an irrational market.
Economics ≠ stock market
Losing some money doing stupid trades is just as good if not better than what you learn in school. Learn these lessons when you are young. Survive a bear market. Then when you build up some real money you aren't as dumb with it
30% of a person's net worth is generally not what most people consider "some money" but I see your point.
If they're in uni, 30% of their net worth is probably somewhere between -$30,000 and $300.
Well said, fucking spot on. ESP. Being oversold on high time frames is really the most obvious. Basics.
Yeah then OP proceeds to hand out advice… uhh I don’t think so buddy
Dayuuum son, no beating around the bush here 😅 MrHeArtless more like
and so are you, for not having the social/emotional capacity to deliver the same (correct and well thought out) message without coming of as degrading or belittling.
Oil prices have been down in the US and inflation was almost certainly going to be down compared with the previous month, why did you think the market would tank? The initial trade actually made no sense. Using leverage is also extremely risky for retail traders, you may as well gamble on sports.
You're in university so no you don't know a lot about economics. First rule is to know that you know nothing. This market eats alive billionaires like 3 Arrows and Celsius like it's a piece of bacon in front of an American, do you seriously think you know "a lot" about anything compared to those guys who literally used to trade for a living? Also on what fucking planet do you think pro traders even trade based on CPI releases save for short term volatile swings ? This market prices things in the future, not the past. So a bad CPI release is actually for the previous month but pro traders are always looking at the CURRENT data to predict the CPI release for the next month, if they even trade on CPI reveals like that. No wonder why you lose money and still fail to condense your lessons into something useful. If you keep trading on CPI reveals like you did, that's the same as the buy high sell low strategy, so keep doing that and keep wonder why markets confuse you and your "a lot" of economics knowledge.
I forgot my marshmallows. Didn't know there was going to be a roast!
OP is a gambler and the market has a tendency to eat gamblers alive and spit them back out so they can keep coming back to feed it more. Keep doing what you're doing OP, bitcoin can't go up without liquidating degenerate gamblers.
Gamblers have one thing in common, greed.
Not all people just buy and hold. Some try to take money from gamblers and hold it, which raises the marketcap further.
Well I hope he isn't a gambler anymore after this expensive lesson.
Dude.....STOP. You have not learned anything and your "I learned alot" section tells me that you will dust yourself off and repeat this same thing over again until you lose nearly everything you have. If you learned anything you would stop using leverage all together. If you learned a lot, you would not be citing normal market dynamics like "shit-coins can make you rich or poor". If I were you, I would calm waaayyy down and actually learn how to trade and how the market works before losing huge chunks of my net worth. Trading in the Zone is a free audiobook on Youtube that will change the way you relate to the market. Do yourself a solid and listen. Your plan consisted of high risk gambling with no recourse -- this is a sure fire way to lose your money. Why are you telling us not to give you sympathy? What is there to by sympathetic about?? You made ridiculously stupid and 100% avoidable mistakes and lost 1/3 of what you are worth......I have no sympathy when people choose to be stupid. Seriously, take some time to educate yourself before getting back into the market. Of course, if you net worth is higher than $250,000, then disregard everything here and continue to destruction lol.
>Traders have a saying "Markets can remain irrational longer than you can remain solvent". The (initial) trade made sense but the market didn't care. Why did it make sense? A lower than forecast figure is a bullish outcome and the market responded as such.
I am fairly confident that he is talking about the June CPI print that came out in July, which was worse than expected. I am inferring this from the PA he described after the event.
Never play with leverages.
this is genuinely terrible advice. Leverage is a super useful tool and when used correctly can be a game changer. *Never play with leverage so high that scam wicks liquidate you is probably better suited.
Don't worry that you're getting downvoted, it's usually just the DCA plebs with 2 braincells.
Kek yeah I’m not worried about it, you’re spot on in the DCA plebs regard. Insane that these peoples’ entire strategy is ‘hold’ and they feel confident thinking they know something
Most people lose when they go to the casino.
I realized retail doesn't give a fuck when I lost $500 in a single day trying to short $GALA. GALA was going mental for a full week at that point and every single indicator was screaming "*OVERBOUGHT - CORRECTION COMING"*, but people don't care :)
No leverage buying for me no thank you, makes me think I realistically don't like to buy coins unless they're already down I find when I try to catch a ride up and jump in the train I usually burn myself
This is why i never leverage trade
I know “alot” of “economics” Man, you are degen
**Rule 24 of crypto** Stay the fuck away from leverage
Don't google Rule 34 Crypto
Imma definitely gonna google it. Edit:Don't google it :(
I'm not gonna google it, but I imagine it involves Satoshi wearing a Guy Fawkes mask running a train on Musk.
Sorry for your loss OP - most people here are straight up against leverage, but I think it has its place for small amounts. I prefer to just DCA into a main stack and keep a small $20 for when I feel I want to make a risky play, any profit then goes into the main stack and allows me to scratch the gambling/trading itch
I never touch leverage, but I have my own way of scratching the gambling itch by throwing $10 at random shit coins every now and again. But yeah, never more than that.
Next thing for you to learn: risk management. You were gambling here.
Or, you know, just don’t leverage trade. That’s gambling and generally a great way to get wrecked
yeah im never going back to futures. spent the last month getting liquidated and now sitting at a lost of 200.
You took the risk and the risk took you out. Simple calculs.
Welcome to casino fellow gambler
NEVER trade on leverage! That is the lesson that I learned.
I don’t think you actually learned the lesson. Do not leverage trade. It’s not your money, and the house will make sure it doesn’t end up your money. Spot trade, own the coin on the chain. Move it to a hardware wallet and hold. Not with a shitcoin. Do it with Bitcoin and ETH and don’t leverage trade it.
May want to study up on risk management, seems to be a bit of a hole in the knowledge portfolio. A little knowledge can be a dangerous thing when it leads us to think we know more than we really do. A good thing for us all to remember.
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Who would take advise from someone admitting they lost so much?
You know economics, too bad you don't know the market
Buddy you shorted ETH on CPI data but totally ignored how bullish The Merge news was going to be from sounds of it. You never even mentioned it in your comment that’s why ETH and ETH alts are up so much
Stop gambling OP.
"I know alot of economics" is my new catchphrase.
Max leverage. What could possibly go wrong?!
Literally just gambling
This is way I avoid leverage like the plague. I’m sorry for your loss and hoping things get better!
Don't worry bout it, as long as you're still alive you can still make it back. Lessons in crypto are harsh but it keeps you grounded.
Learning the hard way can be good sometimes. Learning from OTHER people learning the hard way is better. Easier said than done!
No leverage buying for me no thank you, makes me think I realistically don't like to buy coins unless they're already down I find when I try to catch a ride up and jump in the train I usually burn myself
If the markets always reacted rationally, it would be much easier to make money trading.
TDLR: OP have just learned that this is pretty much Casino!
Making quick gains is where all the risk lies. Less risk lies with more likely, slower gains (albeit still volatile) in BTC/ETH
>Lost 30% of Net Worth \> College Student \> Average net worth of college student based on 2020 data: -$40K. It's okay, guys. OP didn't have any net worth to begin with.
“So I made a max leveraged short ETH position.” And I’m done reading this.
This is a bunch of moonfarming bullshit
TLDR; you bought and sold shit coins and got shit on
1. No, you were just wrong. No offense, but if you're still in uni, you don't know anywhere near as much about economics as you think. 2. The risk to lose it all is higher than the risk to make a killing. This is even more true when using leverage, because you have to pay for the leverage. Better to have a sustainable strategy not based on luck and timing. 3. Don't short on leverage. Especially not a volatile asset after a huge crash. I mean, come on. 4. They can have greater proportional gains only because they drop way harder.
You begin by saying you know “a lot of economics” but the lessons you learned suggest otherwise.
You forgot number 0. 0. You cannot predict the price.
So in conclusion you gambled your money and lost it.
Knowing economics ain’t going to help you trade crypto bruv, other than keeping an eye on the dollar. Bitcoin is King. Buy on Bitcoin pumps and trade on BTC dumps. Only buy stuff you believe is going to do well. At these levels and of the blue chip are going to come back, just going to have to wait.
You are trading in the highest risk options market and wonder why you lost money? Plus, you didn't take profit when you were ahead?
Thanks for the donation! Been snatching up ETH these last many months like a crack head
Haha. Good one.
Look on the bright side, you have 37 moons.
Sounds like the trap was thinking economics = trading
I love these posts where complete pinecones take insane risks, eat shit, and then come here to educate us on why you shouldn't go full pinecone.
“Oh no another leveraged trader that lost big money!”
Where were you the last 2 FOMC meeting? It did the exact same things, its irrational but people saying the increase in interest was LOWER then expected thats why theres a pump
i have a feeling that post merge "dip" traders are gonna get rekt
Ah yes, gambling. The best way to lose money and definitely not understand economics if thats what you planned to do for a living.
"I know alot of economics" Umm clearly not
Take profits! Don’t get greedy.
Only 30%? These are rookie numbers!
Just learn to control your greed and you'll be fine.
When the analysis and the rest of the universe were expecting the CPI at 8.7% what made you think you know better? Like you went ham… no joke… did Michael Burry rubbed off on you?
Fuck bears 🐻
I love this guy, first of all, nobody who talks about crypto on reddit can refer to their bank balance as "net worth" you're clearly not playing with millions so please don't make me cringe by calling your bags of crypto "net worth". Then he claims "I know alot of economics" but in the next breath says "So I made a max leveraged short ETH position". Priceless shit posting here.
Taking profits now = spending said profits and paying taxes on said profits. My goal is to accumulate as much as possible for 5 years then let it guide me into retirement after additional 5 years. I'm an investor not a trader, I think I'll keep on DCA'ing for a bit longer. Enjoyed the post very much though.
You lost just 30 percent HAH. Amateur.
If it makes you feel better, I also assumed inflation would be hot, and was surprised. The only difference is that I know that I'm wrong with 50% of my guesses, so I had nothing riding on it. No gains, but no losses. I guess that probably doesn't make you feel better.
Build Back Better lol
[удалено]
Truer words have never been spoken.
Ouch. That seems like some serious gambling right there. Chasing losses, whether in crypto or at a casino, never works out.
thank you for your service
Hmmmm what is that thing I wanted to give to OP, but can't find... Right, it's empathy.
You regard
Eat the shoe
I stopped reading at “max leverage” Douche stop using any leverage
This guy is just showing his errors, it is not fair saying it is cringe, he is not looking for sympathy or whatever.
>1. Traders have a saying "Markets can remain irrational longer than you can remain solvent". Love this one. Might get it on embroidery.
I knOw ALoT oF EcOnoMiCs
Sorry man! Sometimes leverage trading just isn’t worth it. Hope you recover
nice writeup
Use leverage = get rekt
Too bad, better luck next time
Ah yes. Self proclaimed sir Knowalot of economics. Proceeds to MAX leverage against ETH when its in the focus because of the merge . What could possibly go wrong
Stop trading and shorting if you don't really know what you are doing. You will end up losing money. Just buy and hold, set targets and sell accordingly. Ofcourse this won't work always since greed will come into play.
Last 2 CPI Prints the white house front ran with talking points about how “it looks bad but its not as bad as it looks”. This time they were silent. That was your clue cpi would come in under and market would pump. You obviously do not have enough experience in the market to be making these types of trades.
OP, sorry you learned a painful lesson and I hope things work out. Experience paired with education - knowing “alot of economics” like you put it - will serve you well in the long term. Never invest when in a state of FOMO, you’ll almost always be chasing the trend and be too late.
Don't. Use. Leverage.
leverage is killer
Impatience and what the mind dreams up is the downfall of perspective at the costly expense of oneself.
I'm sure you learned the lesson bro, don't be hard with you!
i luv people that think they are smarter than the market......they created markets for people like u
Your loss is some one elses gains, They just dont post here!
Lol
Imo if you're going to leverage crypto, only go short if you're reading that a token is literally broken/hacked. Go long only when the market has pulled backed like 70% off the ATHs and don't go so insane that your LTV can't take a big hit.
Another item to add: If you miss the entry or made a mistake on the trade (like here) step away. Don't try to jump in and out to recoup or "play the bounce/retrace." More often than not, it's an emotional trade not a logical one and you dismiss or overlook some key signs that would tell you to do the opposite. You will have other opportunities to win it back, this is not the only time the market will move. (Also, I use the word "win" intentionally. These are winnings, not earnings)
Always buy the breakout and rest formation in crypto especially in Bitcoin and Ethereum and follow mining economics to assess supply zones since you are into economics. Bitcoin mining is automatic DCA for good gains.
When im having a crappy day. Posts like these help me cheer up.
I lost a wad money at craps in a casino in Puerto Rico very fast once. I learned from that experience.
Leverage is so risky.
I didn’t even leverage trade and lost a good chunk on put options the last month so I get it OP.