There was an older guy in the group who used to help people repair phones in Huaqiangbei. His shop counter was only about two square meters—he spent all day bent over, disassembling screens. He saved up for several years and had around 100,000 to 200,000 yuan in hand.
Around last year, he started doing Ethereum contract trading. He used 5x leverage. In less than two months, his account grew to more than 600,000 yuan. Back then, he posted details in the group every day, saying he was planning to transfer the shop counter, go back to his hometown to put a down payment on a house, and asking us what装修（renovation）style we should choose.
Until last month, one early Wednesday morning—sometime around dawn—when the market suddenly dropped sharply like a needle. His position would have been liquidated with the difference being only a few percentage points. He didn’t want to cut his position, added more margin to try to hold through it. But then the second “needle” came down and it wiped everything out instantly. In less than a minute, his more than 600,000 yuan in floating profit and his original principal of over 100,000 yuan were gone.
He didn’t end up owing money, but the shop counter really got transferred.
Now he’s still in the group, but he doesn’t say a word. His avatar has been changed to a plain black image.
If you were him, would you cut after the first “needle”?
#币圈故事 #risk
Around last year, he started doing Ethereum contract trading. He used 5x leverage. In less than two months, his account grew to more than 600,000 yuan. Back then, he posted details in the group every day, saying he was planning to transfer the shop counter, go back to his hometown to put a down payment on a house, and asking us what装修（renovation）style we should choose.
Until last month, one early Wednesday morning—sometime around dawn—when the market suddenly dropped sharply like a needle. His position would have been liquidated with the difference being only a few percentage points. He didn’t want to cut his position, added more margin to try to hold through it. But then the second “needle” came down and it wiped everything out instantly. In less than a minute, his more than 600,000 yuan in floating profit and his original principal of over 100,000 yuan were gone.
He didn’t end up owing money, but the shop counter really got transferred.
Now he’s still in the group, but he doesn’t say a word. His avatar has been changed to a plain black image.
If you were him, would you cut after the first “needle”?
#币圈故事 #risk