The Night of 50x Leverage
At three in the morning, the blue glow of his phone lit up Xiao Chen’s face. He’d barely slept in three days. His eyes were bloodshot, but his fingers kept refreshing the candlestick chart.
ERA’s price action had him excited. The coin had climbed steadily from 0.0728 to 0.1001, gaining nearly 40 percent. A big-name influencer in the group said ERA would break 0.15, with a target price of 0.2. Xiao Chen’s heart raced. He felt he couldn’t afford to hesitate any longer.
He opened the futures trading screen and cranked the leverage up to 50x. He still had 20,000 USDT in his account—the wages he’d saved over the past six months. He went all in on a long position at an entry price of 0.0947. In that moment, he felt he’d grabbed hold of the tail of destiny.
For the first two hours, everything went smoothly. ERA climbed to 0.0968, and his unrealized profit was already over 1,000 U. Xiao Chen took a screenshot and posted it in the group. Someone called him “God Chen,” and someone else sent a worshipping meme. Grinning, he set his phone down beside his pillow, thinking he’d take profit once the price rose a little more.
But the crypto market never lets things go as you wish.
At five in the morning, a massive red candle slammed down. Within minutes, ERA plunged from 0.097 straight to 0.085. Xiao Chen jolted awake and fumbled for his phone. The countdown to liquidation showed just 40 seconds. He tried to add margin, but his fingers were shaking so badly he couldn’t enter his password correctly.
When the liquidation notice popped up, he froze. 20,000 U, gone.
He stared blankly at the numbers on the screen. His account balance had dropped to zero. Outside, the sky was beginning to lighten. The breakfast shop downstairs switched on its lights. The world carried on as usual, while his 20,000 dollars had vanished forever.
Xiao Chen turned off his phone and lay in bed, staring at the ceiling. He thought of his mother calling last month to ask if he had enough money to get by. He thought of his girlfriend saying they’d get married once they’d saved enough for a down payment. Those memories flashed by one frame at a time, each one mocking him.
Later, he saw someone in the group post a trade screenshot. Same coin, but they’d made 80,000 by shorting it. “I knew it was due for a pullback,” the person said. Xiao Chen gave a bitter smile. He thought that if only he’d stayed calm for a second back then—even if he’d just set a stop-loss—the outcome would have been different.
After that day, Xiao Chen deleted the futures trading screen and stuck to spot trading. He made a set of rules for himself: never use more than 3x leverage, always set a stop-loss, and never make decisions in the middle of the night.
It took him a whole year to earn back the 20,000 U he’d lost. But he said the lessons that night taught him were worth more than any amount of money he’d ever made.
#合约爆仓 #ERA #LeveragedTrading
At three in the morning, the blue glow of his phone lit up Xiao Chen’s face. He’d barely slept in three days. His eyes were bloodshot, but his fingers kept refreshing the candlestick chart.
ERA’s price action had him excited. The coin had climbed steadily from 0.0728 to 0.1001, gaining nearly 40 percent. A big-name influencer in the group said ERA would break 0.15, with a target price of 0.2. Xiao Chen’s heart raced. He felt he couldn’t afford to hesitate any longer.
He opened the futures trading screen and cranked the leverage up to 50x. He still had 20,000 USDT in his account—the wages he’d saved over the past six months. He went all in on a long position at an entry price of 0.0947. In that moment, he felt he’d grabbed hold of the tail of destiny.
For the first two hours, everything went smoothly. ERA climbed to 0.0968, and his unrealized profit was already over 1,000 U. Xiao Chen took a screenshot and posted it in the group. Someone called him “God Chen,” and someone else sent a worshipping meme. Grinning, he set his phone down beside his pillow, thinking he’d take profit once the price rose a little more.
But the crypto market never lets things go as you wish.
At five in the morning, a massive red candle slammed down. Within minutes, ERA plunged from 0.097 straight to 0.085. Xiao Chen jolted awake and fumbled for his phone. The countdown to liquidation showed just 40 seconds. He tried to add margin, but his fingers were shaking so badly he couldn’t enter his password correctly.
When the liquidation notice popped up, he froze. 20,000 U, gone.
He stared blankly at the numbers on the screen. His account balance had dropped to zero. Outside, the sky was beginning to lighten. The breakfast shop downstairs switched on its lights. The world carried on as usual, while his 20,000 dollars had vanished forever.
Xiao Chen turned off his phone and lay in bed, staring at the ceiling. He thought of his mother calling last month to ask if he had enough money to get by. He thought of his girlfriend saying they’d get married once they’d saved enough for a down payment. Those memories flashed by one frame at a time, each one mocking him.
Later, he saw someone in the group post a trade screenshot. Same coin, but they’d made 80,000 by shorting it. “I knew it was due for a pullback,” the person said. Xiao Chen gave a bitter smile. He thought that if only he’d stayed calm for a second back then—even if he’d just set a stop-loss—the outcome would have been different.
After that day, Xiao Chen deleted the futures trading screen and stuck to spot trading. He made a set of rules for himself: never use more than 3x leverage, always set a stop-loss, and never make decisions in the middle of the night.
It took him a whole year to earn back the 20,000 U he’d lost. But he said the lessons that night taught him were worth more than any amount of money he’d ever made.
#合约爆仓 #ERA #LeveragedTrading