That night, I lost all my capital
At 3:17 a.m., the blue light from my phone screen fell across my face. I stared at the candlestick chart plunging on the Binance Futures interface, my fingers trembling.
BLUR, $0.01174.
Three days earlier, it had been at $0.01834. I watched it slide all the way down from its peak, dropping more than 35%. And I had opened a 20x leveraged long position.
The story goes back to last week. That day, I saw a post on the forum where someone said BLUR had bottomed out and the NFT sector was about to rebound. I’d just made a profit on GNS: I bought at 0.347 and sold at 0.529, nearly a 50% gain. The thrill of making money made me feel invincible.
I thought, BLUR has fallen so much from its peak, it has to bounce back, right? So I put all my recent profits and my original capital—20,000 U in total—into a 20x leveraged long position. A $400,000 position, backed by just $20,000 in margin.
The moment I opened the position, I even poured myself a beer, sure I had it in the bag.
On the first day, BLUR bounced slightly to 0.015. I was up 3,000 U, so I took a screenshot and posted it in the group chat with the caption “Nailed the bottom.” Some people in the group sent a few reaction memes to congratulate me. That feeling of being admired was even better than making money.
On the second day, the price started moving sideways. I reassured myself that the market makers were just shaking out weak hands.
In the early hours of the third day, a huge red candle sent the price straight down to 0.012. My margin ratio started flashing warnings. I panicked and manually added another 10,000 U in margin, silently telling myself, “Just give it one more chance.”
But the market never gives anyone a second chance.
0.0118, 0.01175, 0.01174. The liquidation engine kicked in. I watched the red notification pop up on the screen: “Your position has been liquidated.” It felt like all the strength had been drained out of me.
30,000 U, gone.
I turned off my phone, lay on my bed, and stared at the ceiling. A car passed outside, and the streetlight flickered across the wall. Suddenly, I remembered something someone told me when I first got into crypto: Leverage isn’t a magnifier; it’s an accelerator. It speeds up not only your gains, but also your destruction.
After that day, I uninstalled Binance for a whole month. When I eventually reinstalled it, there was only a little over 100 U left in my account.
But I’ve never used more than 3x leverage since.
Some lessons only need to be learned once.
#合约爆仓 #BLUR #LeveragedTrading
At 3:17 a.m., the blue light from my phone screen fell across my face. I stared at the candlestick chart plunging on the Binance Futures interface, my fingers trembling.
BLUR, $0.01174.
Three days earlier, it had been at $0.01834. I watched it slide all the way down from its peak, dropping more than 35%. And I had opened a 20x leveraged long position.
The story goes back to last week. That day, I saw a post on the forum where someone said BLUR had bottomed out and the NFT sector was about to rebound. I’d just made a profit on GNS: I bought at 0.347 and sold at 0.529, nearly a 50% gain. The thrill of making money made me feel invincible.
I thought, BLUR has fallen so much from its peak, it has to bounce back, right? So I put all my recent profits and my original capital—20,000 U in total—into a 20x leveraged long position. A $400,000 position, backed by just $20,000 in margin.
The moment I opened the position, I even poured myself a beer, sure I had it in the bag.
On the first day, BLUR bounced slightly to 0.015. I was up 3,000 U, so I took a screenshot and posted it in the group chat with the caption “Nailed the bottom.” Some people in the group sent a few reaction memes to congratulate me. That feeling of being admired was even better than making money.
On the second day, the price started moving sideways. I reassured myself that the market makers were just shaking out weak hands.
In the early hours of the third day, a huge red candle sent the price straight down to 0.012. My margin ratio started flashing warnings. I panicked and manually added another 10,000 U in margin, silently telling myself, “Just give it one more chance.”
But the market never gives anyone a second chance.
0.0118, 0.01175, 0.01174. The liquidation engine kicked in. I watched the red notification pop up on the screen: “Your position has been liquidated.” It felt like all the strength had been drained out of me.
30,000 U, gone.
I turned off my phone, lay on my bed, and stared at the ceiling. A car passed outside, and the streetlight flickered across the wall. Suddenly, I remembered something someone told me when I first got into crypto: Leverage isn’t a magnifier; it’s an accelerator. It speeds up not only your gains, but also your destruction.
After that day, I uninstalled Binance for a whole month. When I eventually reinstalled it, there was only a little over 100 U left in my account.
But I’ve never used more than 3x leverage since.
Some lessons only need to be learned once.
#合约爆仓 #BLUR #LeveragedTrading