Last week I traded the #BTCUSDT pair at #futuretrading . My leverage was really high, but luckily my analysis was right.
In just a few hours, I found myself with twice as much as I originally had in my portfolio. The stop loss I had placed, closed my position when it could have still gained in value. It is always a good thing to put a stop loss, but when I saw what I could have gained without it that day, I felt very bad.
Suddenly I became hungry for profits. I always wanted to win more, and when I noticed that the #BTCâ had lost a lot of value, I thought it was the right time to buy. I was right but I did something stupid, the worst mistake of my life: I set the leverage to x175. I didn't put a Stop loss because I thought I didn't need one. I didn't do a thorough analysis while I always do it, no matter the circumstances. I went from pro to beginner in the blink of an eye, and I immediately regretted that decision.
I got a notification that I had reached 80% margin, but I resisted. A few minutes later, I was liquidated.
I felt so bad, but out of all my rules, I only broke one: trading only what I can afford to lose. I realized my stupidity and forgave myself.
I took half of my salary to restart my trading activities, knowing that the latter brought me more than my monthly salary in my other activities. Today, I am far from compensating for this loss, but I learned a lot from this experience.
I will never again let my emotions take over, I will never again put more leverage than I can control, I will always place a stop loss and I will always do thorough analysis before jumping into anything.
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