The Night I Shorted ERA
At three in the morning, my phone buzzed and jolted me awake from a light sleep.
I grabbed my phone and glanced at the screen. My heart clenched. ERA had soared from 0.0599 USDT to 0.075, and less than 30% of the margin remained on my 20x short position.
It all started eight hours earlier. That afternoon, I was scrolling through Binance Square when I came across a post saying ERA had terrible fundamentals, sluggish trading volume, and was bound to go to zero eventually. I checked the candlestick chart. Sure enough, ERA had been trading sideways near the bottom for almost two months, its price sluggishly hovering around 0.06. I’d just made a profit on ETH and was feeling on top of the world. I thought, “Shorting an obscure coin like this is basically free money, right?”
I put a third of the funds in my account into a 20x leveraged short on ERA, entering at 0.0612. When I saw my unrealized P&L turn green, I thought I was a genius.
At dinner with friends that evening, I bragged that I’d be making another bundle tonight. One friend urged me to set a stop-loss. I waved him off. “How high could a little coin like this possibly go?”
But when I got back after dinner, ERA had already started making a move. 0.065, 0.068, 0.070—the price shot upward like a rocket. I panicked and scrambled to check the news. It turned out ERA’s official team had announced a cross-chain partnership, and several big-name influencers were promoting it.
I tried to close my position, but my fingers were shaking so badly I couldn’t tap the right button. By the time the price hit 0.073, my margin ratio had dropped to 15%. I told myself to wait a little longer. It would pull back. It had to pull back.
It didn’t.
0.077, 0.078, 0.079. I watched the liquidation price draw closer and closer, my mind completely blank. Then, just as the price surged to 0.08, the system automatically liquidated my position.
Forty thousand USDT vanished from my account in an instant.
I sat frozen in front of the screen, watching ERA fluctuate around 0.0779. If I’d gone long instead of short, I could have made 80,000 on that trade.
That night, I learned a lesson: in crypto, never fight the trend. The coin you think is garbage could be brewing a storm. And 20x leverage is enough to turn “impossible” into a disaster.
Now, every time I open a position, I remember the buzz of my phone at three in the morning.
#加密货币 #合约交易 #BinanceSquare
At three in the morning, my phone buzzed and jolted me awake from a light sleep.
I grabbed my phone and glanced at the screen. My heart clenched. ERA had soared from 0.0599 USDT to 0.075, and less than 30% of the margin remained on my 20x short position.
It all started eight hours earlier. That afternoon, I was scrolling through Binance Square when I came across a post saying ERA had terrible fundamentals, sluggish trading volume, and was bound to go to zero eventually. I checked the candlestick chart. Sure enough, ERA had been trading sideways near the bottom for almost two months, its price sluggishly hovering around 0.06. I’d just made a profit on ETH and was feeling on top of the world. I thought, “Shorting an obscure coin like this is basically free money, right?”
I put a third of the funds in my account into a 20x leveraged short on ERA, entering at 0.0612. When I saw my unrealized P&L turn green, I thought I was a genius.
At dinner with friends that evening, I bragged that I’d be making another bundle tonight. One friend urged me to set a stop-loss. I waved him off. “How high could a little coin like this possibly go?”
But when I got back after dinner, ERA had already started making a move. 0.065, 0.068, 0.070—the price shot upward like a rocket. I panicked and scrambled to check the news. It turned out ERA’s official team had announced a cross-chain partnership, and several big-name influencers were promoting it.
I tried to close my position, but my fingers were shaking so badly I couldn’t tap the right button. By the time the price hit 0.073, my margin ratio had dropped to 15%. I told myself to wait a little longer. It would pull back. It had to pull back.
It didn’t.
0.077, 0.078, 0.079. I watched the liquidation price draw closer and closer, my mind completely blank. Then, just as the price surged to 0.08, the system automatically liquidated my position.
Forty thousand USDT vanished from my account in an instant.
I sat frozen in front of the screen, watching ERA fluctuate around 0.0779. If I’d gone long instead of short, I could have made 80,000 on that trade.
That night, I learned a lesson: in crypto, never fight the trend. The coin you think is garbage could be brewing a storm. And 20x leverage is enough to turn “impossible” into a disaster.
Now, every time I open a position, I remember the buzz of my phone at three in the morning.
#加密货币 #合约交易 #BinanceSquare