The Night He Shorted NMR
At three in the morning, the blue light from his phone screen lit up Xiao Chen’s face. He stared at the candlestick chart, a slight smile curling at the corner of his mouth.
NMR, Numercoin—current price: 9.71 USDT. Over the past week, it had fallen from $14 to here. In Xiao Chen’s mind, this was a perfect chance to short. He opened a 20x leveraged short on Binance Futures, betting it would break below $8.
"This coin is already dead. It’s down so much—still expecting it to go up?" He sent a screenshot to the group with the caption: "Add a chicken drumstick tonight."
Someone in the group replied with a thumbs-up. Others urged him to be careful. He didn’t take it seriously.
At nine o’clock he went to work, and every so often he glanced at his phone. NMR hovered around 9.8, unmoving. During lunch, the price climbed to 10.2. He frowned, but told himself it was only a bounce.
At three in the afternoon, NMR suddenly surged to $11. Xiao Chen’s heartbeat started to race. His unrealized loss had already exceeded thirty percent of the margin. He opened the calculator—if the price reached $12, he would be close to the liquidation price.
"It’s fine. It can’t jump to 12." He kept reassuring himself.
At 4:30, someone in the group suddenly sent a message: "NMR is pumping!" His hand trembled; he almost spilled his coffee. He opened the app—the price was already $12.8. A system warning popped up: "Your margin rate is below the maintenance level."
He panicked. His fingers hovered between "Add Margin" and "Close Position," hesitating for a full thirty seconds. After those thirty seconds, the price hit $13.2.
He clicked to add margin, uploading the remaining 2,000 USDT in his account.
Then he just watched it keep rising: 13.5, 13.8, 14.0. Every one-dollar increase felt like a knife twisting into his chest. He stared at the screen, lips turning pale, his palms soaked with sweat.
At 14.44 dollars—its intraday high.
When the liquidation notification finally appeared, Xiao Chen unexpectedly became calm. 5,000 USDT—gone to zero. He turned off his phone and sat at his workstation for a long time.
On the way home from work, he saw NMR’s latest price was $13.98. If he had chosen to close his position then instead of adding margin, he would still have kept at least over a thousand. But he didn’t.
Later, he wrote a line in his diary: The market never lacks opportunities—what it lacks is the courage to admit your mistakes. That night, NMR taught him this: leverage isn’t an amplifier—it’s a magnifying glass for human nature.
From then on, Xiao Chen never opened 20x leverage again.
#合约爆仓 #NMR #Crypto story
At three in the morning, the blue light from his phone screen lit up Xiao Chen’s face. He stared at the candlestick chart, a slight smile curling at the corner of his mouth.
NMR, Numercoin—current price: 9.71 USDT. Over the past week, it had fallen from $14 to here. In Xiao Chen’s mind, this was a perfect chance to short. He opened a 20x leveraged short on Binance Futures, betting it would break below $8.
"This coin is already dead. It’s down so much—still expecting it to go up?" He sent a screenshot to the group with the caption: "Add a chicken drumstick tonight."
Someone in the group replied with a thumbs-up. Others urged him to be careful. He didn’t take it seriously.
At nine o’clock he went to work, and every so often he glanced at his phone. NMR hovered around 9.8, unmoving. During lunch, the price climbed to 10.2. He frowned, but told himself it was only a bounce.
At three in the afternoon, NMR suddenly surged to $11. Xiao Chen’s heartbeat started to race. His unrealized loss had already exceeded thirty percent of the margin. He opened the calculator—if the price reached $12, he would be close to the liquidation price.
"It’s fine. It can’t jump to 12." He kept reassuring himself.
At 4:30, someone in the group suddenly sent a message: "NMR is pumping!" His hand trembled; he almost spilled his coffee. He opened the app—the price was already $12.8. A system warning popped up: "Your margin rate is below the maintenance level."
He panicked. His fingers hovered between "Add Margin" and "Close Position," hesitating for a full thirty seconds. After those thirty seconds, the price hit $13.2.
He clicked to add margin, uploading the remaining 2,000 USDT in his account.
Then he just watched it keep rising: 13.5, 13.8, 14.0. Every one-dollar increase felt like a knife twisting into his chest. He stared at the screen, lips turning pale, his palms soaked with sweat.
At 14.44 dollars—its intraday high.
When the liquidation notification finally appeared, Xiao Chen unexpectedly became calm. 5,000 USDT—gone to zero. He turned off his phone and sat at his workstation for a long time.
On the way home from work, he saw NMR’s latest price was $13.98. If he had chosen to close his position then instead of adding margin, he would still have kept at least over a thousand. But he didn’t.
Later, he wrote a line in his diary: The market never lacks opportunities—what it lacks is the courage to admit your mistakes. That night, NMR taught him this: leverage isn’t an amplifier—it’s a magnifying glass for human nature.
From then on, Xiao Chen never opened 20x leverage again.
#合约爆仓 #NMR #Crypto story