Quote:
Originally Posted by Smack dat
I thought I had it figured out. I mean, how hard can it be? Buy low sell high.
I spent hours watching the charts biding my time before placing a sell at 10x
Thought I would be fine 800 breathing space but no. It dropped 1000 in 24 hours.
Then tried a bit of 100x trying to recoup with tiny amounts and actually did ok. Mainly because I watching it like a hawk with my finger on the button.
Eventually ended up panicking and losing again.
Thought I would try one last time. Places another buy order at a 7 day low figuring there is no fucking way it can drop again. It did.
I ended up selling before liguidation but I was already 60% down.
Fuck this. It's too hard to predict. Maybe I will try again in a bull market.
|
this is not trading this is gambling...you will lose your money every time like this...exchangers make a killing from margin accounts like yours...the more leverage the easier it is to manipulate and wipe out the margins with a quick dip/flash...
buy low/sell high works if you understand that a consistent 1%/day is worth much more than an inconsistent 10%/day...you must think like a risk manager and not like a lambo buyer...1%/day is MASSIVE...but it WILL cost you time and money until you learn to discipline yourself and follow the market...
I just missed a 5% flash pump on binance...I was away from the computer and it already started pumping like crazy and it was a bit risky so I walked away...no problem...yesterday I made 2% with cardano I consider this a good day...
forget margin...build your castle brick by brick...patience is key...forget instant lambos it will not happen...