- This topic has 13 replies, 2 voices, and was last updated 3 months ago by userdeath.
- Wednesday, June 22nd, 2022 at 08:57 #316113doctor0909Participant
I have been in crypto space since many years but never touched “leverage”.
Few hours back just out of curiosity I tried leverage on Binance.
I started with 78 USDT and used leverage of 3x with BTC, voila I made a profit of few dollars and felt like a king. I increased the leverage to 5x and the winning streak continued.
Next, I leveraged with Ethereum and leveraged 10x and it was wonderful. I was feeling on the top of the world, nothing could stop me.
After first timers luck the degen ape in me woke up and I leveraged 25x on ShibaInu and the house of cards came falling in front of me. All of my profit from earlier trades was wiped out and my capital of 78 USDT decimated to 50 USDT.
I was hysterical and went all in on Shiba again with leverage of 50x and recovered my loss and made a mind boggling profit of 5 USDT.
My take from my experiment with leverage :
1. Don’t leverage, Don’t play with futures, it is very demanding.
2. You will be constantly checking prices/profit or loss.
3. It is addictive and this gambling can ruin you financially.
4. My mental peace was gone and I was barely able to sleep for 2 hours and even in my sleep I was dreaming about charts.
conclusion – Don’t leverage / play with future else it will destroy your future. If you want to do it properly follow stop-loss.Wednesday, June 22nd, 2022 at 08:57 #316114Silver-dutch
But this is a casino sirWednesday, June 22nd, 2022 at 08:57 #316115FacetiousInvective
Thanks for your sacrifice.Wednesday, June 22nd, 2022 at 08:57 #316116DrunKeN-HaZe
Noob question: after you traded 78USD at 3x. What was the amount you gained after the trade? I’d love it if you could elaborate a little
.thanks manWednesday, June 22nd, 2022 at 08:57 #316117sith_happenss
One of usWednesday, June 22nd, 2022 at 08:57 #316118CyberPunkMetalHead
Borrow money to destroy someone else’s future instead – profitWednesday, June 22nd, 2022 at 08:57 #316119beklog
my mental peace was already shattered when I try day trading…. i see myself going to asylum if I switch to leverageWednesday, June 22nd, 2022 at 08:57 #316120KantCMe
Lol 10x is abt fine but 25x is just straightout dumb. I mean, if ur willing to long a crypto based on ur research then why not short a crypto based on ur forecasts? Leverage compounds gain, and its healthy as long as u have a good investment thesis. Ur strat, from the looks of ur shiba shitcoin play, largely unjustifies ur conclusionWednesday, June 22nd, 2022 at 08:57 #316121Castr0-
Is good to have that experience.
If you are aware that you can lost the money you put is a nice experience to see how things go.
We learn with what others says but is always better to have the experience by ourselves.Wednesday, June 22nd, 2022 at 08:57 #316122lethal_pelican
Your leverage is CZ retirement fundWednesday, June 22nd, 2022 at 08:57 #316123jreyn1993
So we enter a fairly intense bear market and you pick this time to dabble in leverage. What?Wednesday, June 22nd, 2022 at 08:57 #316124_sometimesido
TLDR: USE LEVERAGE FOR MAX GAINZZWednesday, June 22nd, 2022 at 08:57 #316125isaksvorten
If you have struggled with gambling. Stay far away from leverage!Wednesday, June 22nd, 2022 at 08:57 #316126userdeath
Hmmm.. I’m already looking at charts every second.
Maybe this is my calling?
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