Avoid over-leveraging and enter only with a fraction of your capital; in cross margin, the rest functions as a hedge to prevent liquidation in case of sharp changes.
Post
Toripower
·
--
I just lost $24, which was all I had, because of $BTC . I opened a position at $84,200 to the downside, and when I woke up, I already had +$3. But the thing is, I knew it would continue to go down, so I went to take a shower, and when I came back, Binance sent me an email saying it was liquidated for exceeding the 80% loss, leaving me with pennies. After about 30 minutes, Bitcoin dropped to $83,800. I knew what would happen, but due to a bullish candle with a lot of volatility, I lost all the money I earned with effort as a beginner. It's not fair; yes, it went down, but because of that sudden spike, I lost everything before I could earn even more because I knew it would go down, and it did what I said.
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.