The Night of the Liquidation
At three in the morning, the blue glow of the phone screen fell across Xiao Chen’s face.
He stared at WAL’s candlestick chart, his fingers trembling slightly. Three hours earlier, WAL had plunged from 0.067 to 0.044. Thinking he’d spotted an opportunity, he’d opened a short position with 50x leverage.
“This thing’s going to at least 0.03,” he typed in the group chat, sounding certain. The others showered him with likes and called him the “Shorting God.”
For the first twenty minutes, everything went smoothly. His unrealized profit kept ticking up, and he was already imagining withdrawing 30,000 yuan this month. He even opened a shopping app and put the sneakers he’d been eyeing for ages in his cart.
Then a giant green candle shot upward.
0.048, 0.052, 0.058. His heart began to race. His margin ratio fell from 80 percent to 30 percent, then to 15 percent. He frantically tapped “Add Margin,” but his fingers felt as heavy as lead.
At 0.062, the system displayed the message he least wanted to see in his entire life: Your position has been forcibly liquidated.
He froze. The number on the screen changed to 0.065. WAL was like an enraged bull, charging straight toward 0.06786 without looking back.
He did the math. That one trade had cost him four months’ worth of living expenses.
His phone lit up again. Someone in the group chat posted: “WAL’s bounced back. Who took that short?”
No one replied to him. He put his phone facedown on the desk and closed his eyes. Outside the window, the city lights still shone brightly, as if nothing had happened.
He remembered what an old hand had told him on his first day in crypto: “The crypto market never lacks stars; it only lacks people who live long enough.”
After that night, Xiao Chen never used 50x leverage again. He split the money he had left into ten portions and only dared to use 2x leverage on each. Six months later, his account had slowly climbed back to where it was before the losses.
It wasn’t much, but he had finally learned one thing: in this market, staying in the game longer matters far more than making money fast.
#合约爆仓 #WAL #Cryptocurrency
At three in the morning, the blue glow of the phone screen fell across Xiao Chen’s face.
He stared at WAL’s candlestick chart, his fingers trembling slightly. Three hours earlier, WAL had plunged from 0.067 to 0.044. Thinking he’d spotted an opportunity, he’d opened a short position with 50x leverage.
“This thing’s going to at least 0.03,” he typed in the group chat, sounding certain. The others showered him with likes and called him the “Shorting God.”
For the first twenty minutes, everything went smoothly. His unrealized profit kept ticking up, and he was already imagining withdrawing 30,000 yuan this month. He even opened a shopping app and put the sneakers he’d been eyeing for ages in his cart.
Then a giant green candle shot upward.
0.048, 0.052, 0.058. His heart began to race. His margin ratio fell from 80 percent to 30 percent, then to 15 percent. He frantically tapped “Add Margin,” but his fingers felt as heavy as lead.
At 0.062, the system displayed the message he least wanted to see in his entire life: Your position has been forcibly liquidated.
He froze. The number on the screen changed to 0.065. WAL was like an enraged bull, charging straight toward 0.06786 without looking back.
He did the math. That one trade had cost him four months’ worth of living expenses.
His phone lit up again. Someone in the group chat posted: “WAL’s bounced back. Who took that short?”
No one replied to him. He put his phone facedown on the desk and closed his eyes. Outside the window, the city lights still shone brightly, as if nothing had happened.
He remembered what an old hand had told him on his first day in crypto: “The crypto market never lacks stars; it only lacks people who live long enough.”
After that night, Xiao Chen never used 50x leverage again. He split the money he had left into ten portions and only dared to use 2x leverage on each. Six months later, his account had slowly climbed back to where it was before the losses.
It wasn’t much, but he had finally learned one thing: in this market, staying in the game longer matters far more than making money fast.
#合约爆仓 #WAL #Cryptocurrency