That red candlestick is still etched in my memory.
My name is Chen Hao. I’m 28, and I work as a programmer in Shenzhen. Last year, I opened a Binance futures account. At first, I just dabbled, putting in 500 USDT to test the waters. After winning three trades in a row, my confidence got out of hand, and I thought I’d found the secret to getting rich.
On November 3, NMR suddenly started climbing. It surged from 11.8 to 14 in just a few hours. Someone in the group chat said Numeraire was about to take off; someone else said it had risen too much and was bound to pull back.
I thought, it’s already up nearly 20 percent. Surely it needs a breather. So I opened a short position with 10x leverage at 13.5. I put up 100 USDT in margin for a 1,000 USDT short. I figured if it dropped back to 12, I’d make 700. Sweet.
After placing the order, I bragged to a friend that I’d finally learned how to trade against the trend. My friend replied, “Don’t be an idiot.” I didn’t take it seriously.
But NMR didn’t care about logic. There was no pullback, not even a minute’s hesitation. It just kept going up. 14, 15, 16—the unrealized losses ballooned. I stared at the screen, my palms sweating, repeating to myself that it would come back down.
When the price hit 17, the system popped up a margin call warning. I hesitated, my finger hovering over the screen as two voices fought in my head. One said to add margin and hold on; the other said to take the loss. In those few seconds, the price jumped another notch.
18.99.
My phone vibrated. Liquidation notice. My 100 USDT was gone—wiped out completely.
I slumped in my chair, watching NMR’s candlesticks slowly fall from 19 to 16.8. If I’d gone long with the trend, I could’ve made 40 percent on that move. But instead, I went against the trend—and added 10x leverage.
I couldn’t sleep that night. I tossed and turned. Later, I deleted the futures shortcut and kept only spot trading. When my friend asked what happened, I said I’d paid for a lesson.
Now, whenever I see NMR, I think of that candlestick shooting straight up to 19—and the version of me who hesitated for a few seconds and lost all his margin.
The futures market doesn’t believe in “should.” It only believes in “already.”
#NMR #合约交易 #cryptocurrency
My name is Chen Hao. I’m 28, and I work as a programmer in Shenzhen. Last year, I opened a Binance futures account. At first, I just dabbled, putting in 500 USDT to test the waters. After winning three trades in a row, my confidence got out of hand, and I thought I’d found the secret to getting rich.
On November 3, NMR suddenly started climbing. It surged from 11.8 to 14 in just a few hours. Someone in the group chat said Numeraire was about to take off; someone else said it had risen too much and was bound to pull back.
I thought, it’s already up nearly 20 percent. Surely it needs a breather. So I opened a short position with 10x leverage at 13.5. I put up 100 USDT in margin for a 1,000 USDT short. I figured if it dropped back to 12, I’d make 700. Sweet.
After placing the order, I bragged to a friend that I’d finally learned how to trade against the trend. My friend replied, “Don’t be an idiot.” I didn’t take it seriously.
But NMR didn’t care about logic. There was no pullback, not even a minute’s hesitation. It just kept going up. 14, 15, 16—the unrealized losses ballooned. I stared at the screen, my palms sweating, repeating to myself that it would come back down.
When the price hit 17, the system popped up a margin call warning. I hesitated, my finger hovering over the screen as two voices fought in my head. One said to add margin and hold on; the other said to take the loss. In those few seconds, the price jumped another notch.
18.99.
My phone vibrated. Liquidation notice. My 100 USDT was gone—wiped out completely.
I slumped in my chair, watching NMR’s candlesticks slowly fall from 19 to 16.8. If I’d gone long with the trend, I could’ve made 40 percent on that move. But instead, I went against the trend—and added 10x leverage.
I couldn’t sleep that night. I tossed and turned. Later, I deleted the futures shortcut and kept only spot trading. When my friend asked what happened, I said I’d paid for a lesson.
Now, whenever I see NMR, I think of that candlestick shooting straight up to 19—and the version of me who hesitated for a few seconds and lost all his margin.
The futures market doesn’t believe in “should.” It only believes in “already.”
#NMR #合约交易 #cryptocurrency