The 3 A.M. Liquidation Call
Old Chen stared at EPIC on the screen, his fingers trembling slightly.
Three days earlier, he’d seen a big-name influencer post on Binance Square, saying EPIC was about to break through $0.30, with a target price of $0.50. At the time, EPIC was hovering around $0.22. Old Chen figured this was a sure thing, so he went long with 50x leverage, betting the only 30,000 USDT in his account.
The first day felt great. EPIC climbed from $0.22 to $0.26, and his unrealized profit had already topped 20,000 yuan. He posted a screenshot in the group chat with the caption, “Follow the right people, make the right moves.” Everyone was envious. Some called him “Master Chen”; others wanted to copy his trades. Old Chen got carried away, convinced his market instincts were better than those of 99% of retail traders.
On the second day, EPIC kept rising, reaching $0.278, and his unrealized profit neared 40,000 yuan. His wife called to ask if he was going to bed. “Let’s wait a little longer. It can still go up,” he said. He should have gotten out then, but his mind was fixed on the $0.50 target, filled with visions of doubling his money, then doubling it again.
In the early hours of the third day, the market suddenly turned without warning.
EPIC plunged from $0.278. Before Old Chen could react, the price had already crashed to $0.23. Panicking, he manually closed his position at an 8,000-yuan loss, but he still clung to the hope that it was just a pullback. Then, at 2 a.m., a huge red candle drove the price straight down to $0.19. When the liquidation notice popped up, he was completely stunned.
All 30,000 USDT—gone.
He slumped in his chair, watching EPIC’s candlesticks stabilize around $0.168, then slowly rebound to $0.186. If only he hadn’t closed his position then; if only he’d made it through that wick, he could have at least broken even by now. But 50x leverage gave him no such chance. The liquidation price was pinned at $0.192—one cent lower, and he might have survived.
Old Chen turned off his phone and stared at the ceiling until dawn.
The next day, he opened Binance. EPIC was at $0.1861, down 29% in 24 hours. He gave a bitter smile, thinking of the person in the group chat who’d called him “Master Chen.” Their profile picture was gray now.
Later, Old Chen told a friend, “The most expensive lesson in crypto isn’t the liquidation itself. It’s realizing afterward that the market wasn’t wrong—you just used more leverage than your judgment could handle.”
After that, he never used more than 5x leverage again. He’d spent 30,000 yuan on a lesson. Whether it was worth it, only he could say.
#合约爆仓 #EPIC #LeveragedTrading
Old Chen stared at EPIC on the screen, his fingers trembling slightly.
Three days earlier, he’d seen a big-name influencer post on Binance Square, saying EPIC was about to break through $0.30, with a target price of $0.50. At the time, EPIC was hovering around $0.22. Old Chen figured this was a sure thing, so he went long with 50x leverage, betting the only 30,000 USDT in his account.
The first day felt great. EPIC climbed from $0.22 to $0.26, and his unrealized profit had already topped 20,000 yuan. He posted a screenshot in the group chat with the caption, “Follow the right people, make the right moves.” Everyone was envious. Some called him “Master Chen”; others wanted to copy his trades. Old Chen got carried away, convinced his market instincts were better than those of 99% of retail traders.
On the second day, EPIC kept rising, reaching $0.278, and his unrealized profit neared 40,000 yuan. His wife called to ask if he was going to bed. “Let’s wait a little longer. It can still go up,” he said. He should have gotten out then, but his mind was fixed on the $0.50 target, filled with visions of doubling his money, then doubling it again.
In the early hours of the third day, the market suddenly turned without warning.
EPIC plunged from $0.278. Before Old Chen could react, the price had already crashed to $0.23. Panicking, he manually closed his position at an 8,000-yuan loss, but he still clung to the hope that it was just a pullback. Then, at 2 a.m., a huge red candle drove the price straight down to $0.19. When the liquidation notice popped up, he was completely stunned.
All 30,000 USDT—gone.
He slumped in his chair, watching EPIC’s candlesticks stabilize around $0.168, then slowly rebound to $0.186. If only he hadn’t closed his position then; if only he’d made it through that wick, he could have at least broken even by now. But 50x leverage gave him no such chance. The liquidation price was pinned at $0.192—one cent lower, and he might have survived.
Old Chen turned off his phone and stared at the ceiling until dawn.
The next day, he opened Binance. EPIC was at $0.1861, down 29% in 24 hours. He gave a bitter smile, thinking of the person in the group chat who’d called him “Master Chen.” Their profile picture was gray now.
Later, Old Chen told a friend, “The most expensive lesson in crypto isn’t the liquidation itself. It’s realizing afterward that the market wasn’t wrong—you just used more leverage than your judgment could handle.”
After that, he never used more than 5x leverage again. He’d spent 30,000 yuan on a lesson. Whether it was worth it, only he could say.
#合约爆仓 #EPIC #LeveragedTrading