The Night of the Liquidation
At 3:17 a.m., Lin Hao’s phone buzzed.
Groggy, he picked it up. A Binance liquidation notice glowed on the screen: Your RLC/USDT long position has been forcibly closed. Loss: 12,847 USDT.
He was wide awake in an instant.
Three days earlier, RLC had been hovering around 0.38 USDT. Someone in the community said it was a forgotten AI coin that was about to take off. Lin Hao believed them. He put up all his capital—20,000 USDT—and went long with 10x leverage at an average price of 0.42. Back then, he figured that if RLC hit 0.8, he’d double his money; at 1.2, he could buy a car.
For the first two days, it really did go up. 0.5, 0.6, 0.7. His account was up more than 60% on paper. He posted a screenshot in the group with the caption, “Steady as a rock.” Some people called him “Lin the Legend,” while others asked if he’d share his trades. Feeling on top of the world, he thought maybe he was a natural-born trader.
On the third night, RLC surged to 0.97. His unrealized profit was already more than 100%. People in the group urged him, “If you don’t get out now, you’re an idiot.” He glanced at the candlestick chart and thought it could go even higher, so he added to his position. In his mind, he drew a line: take profit if it pulls back to 0.85.
But he forgot to set a stop-loss.
At 2 a.m., a huge red candle plunged straight from 0.95 to 0.52. His position was liquidated around 0.53. His 20,000 in capital, along with the money he’d borrowed through leverage, vanished overnight. He stared at the nearly vertical green line on the screen, fingers trembling, mind blank.
He remembered the saying: There are always opportunities in the market, but only if you’re still in it.
His phone buzzed again. A message from the group. Someone had posted a screenshot of their RLC short position, showing a profit of 80,000 USDT. Lin Hao placed his phone face down on the table and stared at the ceiling. For a long time, he said nothing.
The next morning, he opened his account. There were only a little over 300 USDT left—the money he’d set aside for rent. He closed the app, went downstairs to buy a jianbing guozi, and stood by the roadside, lost in thought for a long time.
Three months later, Lin Hao started over with those 300 USDT. This time, he used only 2x leverage and set a stop-loss on every trade. He stopped following trade calls in group chats and stopped dreaming of getting rich overnight. He began studying candlestick charts, learning about money management, and keeping a trading journal.
RLC later fell back to 0.91, then slowly climbed again. Lin Hao never touched it again.
On the first page of his journal, he wrote: Leverage is a knife. Use it well, and you can chop vegetables. Use it carelessly, and you’ll cut yourself.
He’s still here, still trading. He just never looks at his phone at three in the morning anymore.
#合约爆仓 #RLC #LeveragedTrading
At 3:17 a.m., Lin Hao’s phone buzzed.
Groggy, he picked it up. A Binance liquidation notice glowed on the screen: Your RLC/USDT long position has been forcibly closed. Loss: 12,847 USDT.
He was wide awake in an instant.
Three days earlier, RLC had been hovering around 0.38 USDT. Someone in the community said it was a forgotten AI coin that was about to take off. Lin Hao believed them. He put up all his capital—20,000 USDT—and went long with 10x leverage at an average price of 0.42. Back then, he figured that if RLC hit 0.8, he’d double his money; at 1.2, he could buy a car.
For the first two days, it really did go up. 0.5, 0.6, 0.7. His account was up more than 60% on paper. He posted a screenshot in the group with the caption, “Steady as a rock.” Some people called him “Lin the Legend,” while others asked if he’d share his trades. Feeling on top of the world, he thought maybe he was a natural-born trader.
On the third night, RLC surged to 0.97. His unrealized profit was already more than 100%. People in the group urged him, “If you don’t get out now, you’re an idiot.” He glanced at the candlestick chart and thought it could go even higher, so he added to his position. In his mind, he drew a line: take profit if it pulls back to 0.85.
But he forgot to set a stop-loss.
At 2 a.m., a huge red candle plunged straight from 0.95 to 0.52. His position was liquidated around 0.53. His 20,000 in capital, along with the money he’d borrowed through leverage, vanished overnight. He stared at the nearly vertical green line on the screen, fingers trembling, mind blank.
He remembered the saying: There are always opportunities in the market, but only if you’re still in it.
His phone buzzed again. A message from the group. Someone had posted a screenshot of their RLC short position, showing a profit of 80,000 USDT. Lin Hao placed his phone face down on the table and stared at the ceiling. For a long time, he said nothing.
The next morning, he opened his account. There were only a little over 300 USDT left—the money he’d set aside for rent. He closed the app, went downstairs to buy a jianbing guozi, and stood by the roadside, lost in thought for a long time.
Three months later, Lin Hao started over with those 300 USDT. This time, he used only 2x leverage and set a stop-loss on every trade. He stopped following trade calls in group chats and stopped dreaming of getting rich overnight. He began studying candlestick charts, learning about money management, and keeping a trading journal.
RLC later fell back to 0.91, then slowly climbed again. Lin Hao never touched it again.
On the first page of his journal, he wrote: Leverage is a knife. Use it well, and you can chop vegetables. Use it carelessly, and you’ll cut yourself.
He’s still here, still trading. He just never looks at his phone at three in the morning anymore.
#合约爆仓 #RLC #LeveragedTrading