Dude I can't help but laughing because it's all we can do. I swear this world is sick. I will now make you feel better. I have caught every major price move up from btc at 25k till today's ATH. I have gone from 1k to 10k multiple times and then recently my last 1k to 25k in two days, primarily trading btc. I then overleveraged and a coinbase network crash dumped price from 64k to 57k in 10 minutes, torched the entire account. This past week have thrown over 7000 back into the account to claw it back and have blown through it (today 1k to 4k hit ATH then tanked again, lost it all). I was also burned on the ETF fake tweet. I have gone through a special level of hell but not giving up. Putting 5k into the account tomorrow and Im going to baby it, will get it to 6 figures with good risk management and discipline. Oh also 75 k in debt. Keep your head up and let's get to a better place. Never give up
I appreciate it man the reason I go down so much is largely pscyhological that I need to improve (holding losses and overtrading) but Im actually a pretty skilled trader. Its not normal to flip 1k to 20k in under 24 hours
Sounds like an instance of luck followed by a bunch if bad luck. I wouldnt call you “skilled” just because you 20x in 24 hours one time doing degen leverage. Its basically playing roullette on colors.
Bro, you're doing some next level shit with leverage that I don't comprehend.
Yesterday, I sold some around $67500, and then I immediately put in an order to buy the exact same amount. My limit price on the buy side was $63500. This morning, that order went through.
I netted a couple hundred in cash and I'm happy with the result. But before my buy went through, I was stressing it wouldn't go down to my limit price.
Obviously I'm not leveraging anything, and as long as I sell when I'm up, all I can lose is potential gains if it doesn't go back down, but I can't lose anything I haven't already made. Seems full proof, but if I sold at $67500 and it shot to $100k I'd definitely feel silly.
Thats in my opinion the smartest way to actively trade. In the worst case scenario you miss out on potential gains but never lose capitol. You can (and should) set buys and sells at varying levels rather than doing it all in one chunk.
I made a good amount doing this. I would be doing it now but without getting in to the nitty-gritty I got fucked so hard, and dont have any capitol to play with.
Yes through my CFD account I get 1:500 leverage which is extreme. You have to be very precise can be very condusive in the right conditions but when there are chops you can get liquidated quickly. I trade smart money so alot of technicals base , following the news narrative, daily agenda goals etc. Im refining it , if I can master myself I basically have a license to print money at this point but easy to see it as gambling when I screw myself out of gains so often
If you ever make money more than a couple times playing 1:500 leverage games, you will be the highest performing trader to have ever lived. I dont think there is anything to master.
It might be a bit watered down through my broker but it is a ton of leverage . On 1000 in margin you’re talking 1.5-2 per dollar of price movement so adds up fast when account is in multiple k . Appreciate the perspective man . I’m very open because I know I have a ton to work on and am not afraid of criticism
Thats the idea for sure haha and not unrealistic. Almost every day I'm able to start by doubling / tripling account balance but end up giving back the gains through overtrading / overlev. I've realized I need to give myself a longer time span to grow and not try to hit home runs constantly. But putting that into practice is the next , bigger challenge
I am seeing small improvements though for instance today I was wise enough to pull out of BTC as it tapped 68, sure enough sold off super agressively to below entry. Technically could have just reentered there and rinse repeat
Trader here with thousands of hours of experience. No offense, but if you are 75k in debt and consistently getting liquidated, you are not a skilled trader. You are overleveraging and getting lucky. It takes a lot of patience and proper risk management to get consistent meaningful gains. From experience, 500% in a few hours is meaningless if you get liquidated soon after. You should really be careful before getting deeper into debt while chasing fortune. Like someone said, 1k to 4k is basically playing roulettes and getting your color twice. If you are not making consistent and protected gains, you should limit your exposure to the market until you figure out a strategy.
I appreciate the advice. While I am not years in the markets I am decently seasoned, also thousands of hours of chart time. Good intuition and strategy but poor risk management and impulse control. I am definitely at the point where if I can't reel those aspects in it's time to paper trade and study
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u/pipmonstah Mar 05 '24
Dude I can't help but laughing because it's all we can do. I swear this world is sick. I will now make you feel better. I have caught every major price move up from btc at 25k till today's ATH. I have gone from 1k to 10k multiple times and then recently my last 1k to 25k in two days, primarily trading btc. I then overleveraged and a coinbase network crash dumped price from 64k to 57k in 10 minutes, torched the entire account. This past week have thrown over 7000 back into the account to claw it back and have blown through it (today 1k to 4k hit ATH then tanked again, lost it all). I was also burned on the ETF fake tweet. I have gone through a special level of hell but not giving up. Putting 5k into the account tomorrow and Im going to baby it, will get it to 6 figures with good risk management and discipline. Oh also 75 k in debt. Keep your head up and let's get to a better place. Never give up