10u（¥65）The god of war has fallen—let’s summarize the mistakes behind this loss.
First, the funds were too scattered. I withdrew over 1,000, most of it went to expenses—rent was the biggest share—and there wasn’t much left over.
Second, after withdrawing over 1,000, the account actually still had around 1,000. Then I went ahead and redistributed the funds to chase those “tu dog” coins, putting in about 300 RMB. That’s what directly caused the account to get slashed in half.
Third, I went long on low-quality altcoins with high leverage. Bottom-fishing was based on a rebound resonance, but the price level was awkward. High-leverage bagholding equals a death sentence.
Fourth, there were a few rounds where I had chances to exit without taking major damage. As long as I closed positions, I’d at most lose some trading fees. But when I saw the rebound lacking strength and still refused to close, I ended up hitting the stop-loss and wiped out the bulk of the account’s principal.
Fifth, after the account took the big stop-loss hit, there was only about 100 RMB left. Using the same tactics as before, it might still have been possible to rebuild. But I chose to go all-in with high leverage again, and in the end I was liquidated as well.
In short, this loss isn’t the market’s fault—it’s my own operational mistakes. Going forward, profits will follow the old rule: withdraw as usual, use low leverage for day trading, and take whatever you can. $GENIUS
First, the funds were too scattered. I withdrew over 1,000, most of it went to expenses—rent was the biggest share—and there wasn’t much left over.
Second, after withdrawing over 1,000, the account actually still had around 1,000. Then I went ahead and redistributed the funds to chase those “tu dog” coins, putting in about 300 RMB. That’s what directly caused the account to get slashed in half.
Third, I went long on low-quality altcoins with high leverage. Bottom-fishing was based on a rebound resonance, but the price level was awkward. High-leverage bagholding equals a death sentence.
Fourth, there were a few rounds where I had chances to exit without taking major damage. As long as I closed positions, I’d at most lose some trading fees. But when I saw the rebound lacking strength and still refused to close, I ended up hitting the stop-loss and wiped out the bulk of the account’s principal.
Fifth, after the account took the big stop-loss hit, there was only about 100 RMB left. Using the same tactics as before, it might still have been possible to rebuild. But I chose to go all-in with high leverage again, and in the end I was liquidated as well.
In short, this loss isn’t the market’s fault—it’s my own operational mistakes. Going forward, profits will follow the old rule: withdraw as usual, use low leverage for day trading, and take whatever you can. $GENIUS
