I woke up at 3 a.m. to a liquidation notice
At three in the morning, the moment my phone screen lit up, my heart sank.
"Your RLC short position has been liquidated. Loss: 47,832 USDT."
I stared at those words, my fingers trembling. Three days ago, RLC was hovering around 0.52 USDT. Watching that long red candle on the chart keep sliding downward, I confidently opened a short position with 50x leverage. I thought, "Altcoins like this have no floor when they start dropping. Going from 0.52 to 0.3 is just a matter of minutes, right?"
When I opened the position, I even made a point of posting on social media: "Shorting RLC at 0.52. Just waiting for it to go to zero." A few crypto buddies replied that I should be careful, and I laughed at them for being timid.
On the first day, things went exactly as I’d hoped. RLC fell from 0.52 to 0.49, and my unrealized profit was already over 3,000 USDT. I started imagining that once this trade was done, my profits for the month would be in the bag. I was even thinking about whether to buy a new graphics card or a handbag for my wife with the money.
On the second day, the tide turned.
RLC suddenly started climbing, shooting from 0.49 to 0.65 in one go. I told myself it was just a bounce, a bull trap, and stubbornly refused to admit I was wrong. My margin ratio fell from a healthy 80% to 40%. I added 5,000 USDT in margin, silently repeating to myself: It’ll come back. It’ll drop again.
On the third night—tonight—RLC surged upward like it had gone crazy. 0.75, 0.85, 0.95—it kept breaking through one level after another. I watched helplessly as my margin ratio turned red, then fell into the single digits. I wanted to close the position manually, but my finger felt frozen. I just couldn’t bring myself to tap the button.
Then came that notification. Liquidation price: 0.877.
I opened my trading history and checked the numbers. RLC had climbed from a low of 0.524 to a high of 1.077, gaining more than 100%. And me? I’d managed to short almost right at the bottom, only to get wiped out by a single rally.
The irony was that, that same day, I’d also seen someone in the group showing off their NMR long. NMR had climbed from 11.69 to 18.99, a gain of nearly 63%. They’d used only 5x leverage and made three times what I’d just lost.
I turned off my phone, lay in bed, and stared at the ceiling. 47,000 USDT—about three months of my salary. I knew the sun would rise again tomorrow, and maybe RLC would fall back down, but by then it would have nothing to do with me.
The first lesson of crypto: Never fight the trend.
It cost me 47,000 USDT to learn that lesson.
#合约爆仓 #RLC #LeveragedTrading
At three in the morning, the moment my phone screen lit up, my heart sank.
"Your RLC short position has been liquidated. Loss: 47,832 USDT."
I stared at those words, my fingers trembling. Three days ago, RLC was hovering around 0.52 USDT. Watching that long red candle on the chart keep sliding downward, I confidently opened a short position with 50x leverage. I thought, "Altcoins like this have no floor when they start dropping. Going from 0.52 to 0.3 is just a matter of minutes, right?"
When I opened the position, I even made a point of posting on social media: "Shorting RLC at 0.52. Just waiting for it to go to zero." A few crypto buddies replied that I should be careful, and I laughed at them for being timid.
On the first day, things went exactly as I’d hoped. RLC fell from 0.52 to 0.49, and my unrealized profit was already over 3,000 USDT. I started imagining that once this trade was done, my profits for the month would be in the bag. I was even thinking about whether to buy a new graphics card or a handbag for my wife with the money.
On the second day, the tide turned.
RLC suddenly started climbing, shooting from 0.49 to 0.65 in one go. I told myself it was just a bounce, a bull trap, and stubbornly refused to admit I was wrong. My margin ratio fell from a healthy 80% to 40%. I added 5,000 USDT in margin, silently repeating to myself: It’ll come back. It’ll drop again.
On the third night—tonight—RLC surged upward like it had gone crazy. 0.75, 0.85, 0.95—it kept breaking through one level after another. I watched helplessly as my margin ratio turned red, then fell into the single digits. I wanted to close the position manually, but my finger felt frozen. I just couldn’t bring myself to tap the button.
Then came that notification. Liquidation price: 0.877.
I opened my trading history and checked the numbers. RLC had climbed from a low of 0.524 to a high of 1.077, gaining more than 100%. And me? I’d managed to short almost right at the bottom, only to get wiped out by a single rally.
The irony was that, that same day, I’d also seen someone in the group showing off their NMR long. NMR had climbed from 11.69 to 18.99, a gain of nearly 63%. They’d used only 5x leverage and made three times what I’d just lost.
I turned off my phone, lay in bed, and stared at the ceiling. 47,000 USDT—about three months of my salary. I knew the sun would rise again tomorrow, and maybe RLC would fall back down, but by then it would have nothing to do with me.
The first lesson of crypto: Never fight the trend.
It cost me 47,000 USDT to learn that lesson.
#合约爆仓 #RLC #LeveragedTrading