01-10-2022, 02:52 AM
Do not touch leverage unless you have money to throw away.
<!-- SC_OFF --><div class="md"><p>2021 was a great year for me. I 10x'd my money investing into ATOM, SYS, HOT, LUNA, LRC etc. and I was way over the moon. I thought I was fucking invincible... </p> <p>I was going around suggesting people to set stop limits, do not invest more money than you can afford and of course, I shilled for coins that I held. I had this baseless stupid confidence that comes with the money that I never had before.</p> <p>Then came 2022... I was talking with my friends about decent coins they can potentially invest in and the topic of leverage came up. We talked about the potential money I could earn, calculated the amount I'd have if the coin I invested in mooned and then after dreaming about what I can do with the money I can potentially earn, it got to me... why not try out leverage on Binance and went right into 3x leverage. </p> <p>I didn't even bother checking the interest rate, I forgot about all the principles I had with coin trading and borrowed the maximum amount and went all in. </p> <p>I don't fucking know what got to me. Hype threads that talk about potential moon, people around me asking for advice, the money that I never had before... I'd have held through the drop if this was just normal trading because I believe that it will always bounce back and maybe even go even further but with leverage... I cannot afford to hold. If whatever coin I buy drops even for a little bit I am left with no money and no way of earning what I lost back.</p> <p>Now, I sold all the coins I owned for BUSD and I am on the brink of liquidation at margin level of 1.14. The interest rate is piling up, I barely slept last few days and I am literally sweating due to anxiety. </p> <p>I just wanted a place where I can vent about my stupidity. Thanks for reading... or not reading. </p> <p>*<em>tl;dr i am confident. i touch leverage. coin market goes boom. i am broke and fucked beyond measure. *</em></p> <p>** point: don't touch leverage unless you have enough that you can use money as a toilet paper. **</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DoNotGiveEAmoneyPLS"> /u/DoNotGiveEAmoneyPLS </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rzt5mo/do_not_touch_leverage_unless_you_have_money_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rzt5mo/do_not_touch_leverage_unless_you_have_money_to/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>2021 was a great year for me. I 10x'd my money investing into ATOM, SYS, HOT, LUNA, LRC etc. and I was way over the moon. I thought I was fucking invincible... </p> <p>I was going around suggesting people to set stop limits, do not invest more money than you can afford and of course, I shilled for coins that I held. I had this baseless stupid confidence that comes with the money that I never had before.</p> <p>Then came 2022... I was talking with my friends about decent coins they can potentially invest in and the topic of leverage came up. We talked about the potential money I could earn, calculated the amount I'd have if the coin I invested in mooned and then after dreaming about what I can do with the money I can potentially earn, it got to me... why not try out leverage on Binance and went right into 3x leverage. </p> <p>I didn't even bother checking the interest rate, I forgot about all the principles I had with coin trading and borrowed the maximum amount and went all in. </p> <p>I don't fucking know what got to me. Hype threads that talk about potential moon, people around me asking for advice, the money that I never had before... I'd have held through the drop if this was just normal trading because I believe that it will always bounce back and maybe even go even further but with leverage... I cannot afford to hold. If whatever coin I buy drops even for a little bit I am left with no money and no way of earning what I lost back.</p> <p>Now, I sold all the coins I owned for BUSD and I am on the brink of liquidation at margin level of 1.14. The interest rate is piling up, I barely slept last few days and I am literally sweating due to anxiety. </p> <p>I just wanted a place where I can vent about my stupidity. Thanks for reading... or not reading. </p> <p>*<em>tl;dr i am confident. i touch leverage. coin market goes boom. i am broke and fucked beyond measure. *</em></p> <p>** point: don't touch leverage unless you have enough that you can use money as a toilet paper. **</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DoNotGiveEAmoneyPLS"> /u/DoNotGiveEAmoneyPLS </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rzt5mo/do_not_touch_leverage_unless_you_have_money_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rzt5mo/do_not_touch_leverage_unless_you_have_money_to/">[comments]</a></span>Kind Regards R